Post by: FancyNest on April 16, 2015, 11:52:00 AM
Hoping we can share motivations as the finish line of mandatory work starts to peek over the horizon and we nervously start to experience how close to reality our goal is getting.
I find myself thinking about getting rich being sort of boring a lot lately - http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/ (http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/)
What kinds of things do you think about to help keep your eyes on the prize?
Post by: ysette9 on April 16, 2015, 11:56:00 AM
How are you coming to the conclusion that 2020 is your FIRE date? How confident are you in the numbers and what are your assumptions? cFIREsim? The 25x rule? I am actually looking for someone to double-check my calculations so I am pretty interested in how you did yours.
Post by: TheContinentalOp on April 16, 2015, 01:05:06 PM
As for what is keeping me going, I am imagining some of the cycling trips I am hoping to take after I FIRE: Across the USA, Up to Montreal and then over to Labrador. Across Australia. Norway from Oslo to Tromso.
Post by: ysette9 on April 16, 2015, 01:59:37 PM
How do your pre-FIRE and post-FIRE spending estimates differ? Do you expect to be spending less in retirement?
Post by: spud1987 on April 16, 2015, 04:39:00 PM
HOWEVER, I may be getting laid off in the next few months, which would most likely delay/change my FIRE date. It just goes to show that no plan is certain.
Post by: TheContinentalOp on April 16, 2015, 07:58:35 PM
ntly surprised when it is less.
I am in the same boat as a renter, but I hope to buy, and how much that will save me is still very much in question.
I planned to spend $27,000 this year, and at the current rate I will come in at about $24,500.
I hope/plan to spend the same in retirement where the the price of my current rent will match my health insurance and home maintenance costs.
Post by: FancyNest on April 17, 2015, 08:05:13 AM
My wife works (PhD SWAMI researcher) and in my calculations I have her going to 49 with her work, though I think it's very possible she decides she wants to keep on going after that. We keep talking about how humans are the only animals that retire and she's lucky enough to have found her occupational bliss. She also holds the health insurance for us and our 2 kids. After she retires we'll look at ACA assuming it's still there or a high deductible private.
Weighing heavily in the decision are our mortgage (owe 146k - plan payoff = 2020) and the end of daycare in 2020. If we decide to have more kids, that's probably the biggest factor in changing our date, but so far we're liking the 2 we have. We make a little over 200k a year as a household and typically spend 5400 a month, which includes our 15 year mortgage PITI and daycare - expenses we expect to dramatically decrease given our goal of mortgage payoff and school age care needs being much lower with me in hanging up the white collar in favor of the two wheel dadmobile. We expect that monthly spend to go down to about 3400 a month after kids are in public school. So at that point, we'll still save money with my wife's salary and let that nest egg grow (we're 80% VDI, 14% INTL exposure - mix of developing and developed and the rest some socially conscious funds my wife won't let me get rid of even though their expense ratios are high - I know, I know.
@TheContinentalOp - badass bike trip - now that is daydream worthy - thanks!
Post by: dude on April 17, 2015, 08:18:07 AM
Post by: velocistar237 on April 17, 2015, 09:48:12 AM
Post by: RunningWithScissors on April 17, 2015, 10:08:38 AM
I like Mr. MM's comments on the 4% SWR blog where he notes that this rule assumes you'll never earn more income, never have a pension and never adjust your spending. That, plus the fact that my husband will likely always work part-time, and we're starting a business that should earn income independently from our hands-on involvement gives me some security. With the indications that the Canadian government is raising the max contribution to our TFSA (tax free savings accounts, for you non-Canucks) from $5500 to $11,000 per person/yr., we'll need to watch our spending and make sure we can contribute the maximum.
As for roadblocks, it's likely to be in the form of unplanned spending on house renovations. Our planned $5000 spend on rebuilding a deck this summer is likely to expand to $10,000 as our initial demolition has revealed some additional damage due to water infiltration (who builds a flat deck without a roof membrane, fer heaven's sake!). However, it'll be money well spent on our enjoyment of the new deck and house value. No, I'm not expecting to recoup 100% of our expenses on increased property value, but the work is a necessity and our DIY skills will keep costs as low as possible. Roof and window replacement is another planned budget item, which has the potential to go sideways - the joys of older home ownership!
So, 2020 it is....!
Post by: pachnik on April 17, 2015, 07:36:29 PM
Post by: 2Birds1Stone on April 17, 2015, 07:52:00 PM
I could be considered FI by Dec 31 2020 if I moved to a 3rd world country -_-
Does that make me an honorary member?
Post by: Suncoast on April 18, 2015, 04:53:46 AM
Post by: ascZend on April 19, 2015, 05:11:39 PM
Post by: FancyNest on April 20, 2015, 11:56:23 AM
I love reading everyone's notes - lets not forget that one of the main reasons for the cohort is to make your goal (sort of) public and help cheer each other on.
One of my main points of prep for 5 years from now has been to break down my goals into 2016 goals that feed 2018 goals and so on until you're supporting your 2020 date with steady actions to transition to your next step confidently.
Post by: enigmaT120 on April 20, 2015, 01:03:37 PM
Post by: grsing on April 20, 2015, 03:01:17 PM
Post by: Hopeful on April 20, 2015, 03:23:50 PM
Post by: FIPurpose on April 20, 2015, 04:24:25 PM
I'm hoping to get a teaching position during grad so that we do not touch those assets until I'm ready to give up any career. But it will feel odd to allow myself to spend my whole paycheck when the time comes. I'll no longer have as high paying a job, but I'll probably end up with more free money than I know what to do with.
Post by: TheContinentalOp on April 21, 2015, 07:16:10 AM
As for FIRE, here's how I look at it.
If necessary, I could chuck my job tomorrow, move to a LCOL area, give up air travel and big money chess, but still bike and hike around North America. I would be stoic and learn to be happy with what I had.
In another 2-2.5 years, I could retire, play big money chess and fly domestically along with the biking and hiking.
In five years (4.1.20) I could do all of the above plus international bike tours. That's the goal.
Post by: lise on April 21, 2015, 09:01:53 AM
Post by: SCUBAstache on April 25, 2015, 09:45:22 AM
Post by: Able was I ERE on April 25, 2015, 11:48:16 PM
However, I fantasize about gradually working fewer and fewer days per week, which would extend my completely FIRE date considerably. I've already shifted to 4 days / week. If I get to 2 days / week, I'll officially call it my "smoldering date", and consider myself partially FIRE'd.
Post by: sidestache on April 27, 2015, 04:37:19 AM
Our end reward is large though, we plan to travel the world on motorcycles for 2-3 years...exact time and destination not really certain at this point but filled with wonder and excitement! We will be 40 and 37 at that time :)
Post by: lauren_knows on April 27, 2015, 05:40:33 AM
Post by: clarkfan1979 on April 27, 2015, 06:42:06 AM
We hope to do this every summer (if we choose) starting in 2020. If we miss our family we might also travel around the U.S.
We live in Florida. Florida is great in the winter, but not so much in the summer. It's too hot for too long.
Post by: CoderNate on April 27, 2015, 09:59:04 PM
One thing where I wish I had read MMM sooner was saving up and paying cash for our condo. I thought I was doing the financially responsible thing, but ended up wasting all that time renting an apartment and having the money sit in a low interest savings account. Not to mention the historically cheap leverage in a time of (in retrospect) outsized stock gains!
Anyway, we figure based on our prior savings and our new commitment to moustachianism, we will be FI around 2020. Not sure if we will quit working at that time though, because we both have pretty sweet jobs. Will see how it goes in a few years :)
Post by: Prairie Gal on May 05, 2015, 08:21:55 PM
Post by: blackswan on May 21, 2015, 05:49:34 AM
Post by: Nancy on May 21, 2015, 09:37:18 AM
Post by: FIRE 20/20 on June 14, 2015, 05:08:22 PM
If necessary, I could chuck my job tomorrow, move to a LCOL area, give up air travel and big money chess, but still bike and hike around North America. I would be stoic and learn to be happy with what I had.
In another 2-2.5 years, I could retire, play big money chess and fly domestically along with the biking and hiking.
In five years (4.1.20) I could do all of the above plus international bike tours. That's the goal.
My GF and I are aiming to retire at age 45, which will be 2021. While the details are different, we're in the same position as TheContinentalOp. We could survive if we both quit today, but we'd need to severely scale back on everything except basic living expenses. In 2-3 years we could travel, participate in our (not cheap) hobbies, and maintain our charitable contributions at a moderate level. Hopefully if all goes well, in 2020 we'll be able to do almost everything we enjoy at just below a 4% withdrawal rate.
I know I'm going to really struggle with OMY syndrome. We both work in a field in which it's critically important to be very up to date on the current technologies, certifications, and processes. Once we quit, we won't be able to earn very much in our chosen careers, and we don't have any experience with other kinds of work. When we're done, we're done, so we will probably have a larger buffer than most here.
Post by: TaxChick on June 14, 2015, 05:19:14 PM
Post by: madamwitty on June 14, 2015, 06:49:22 PM
I'm already having a pang of anticipated nostalgia for this, the day I joined the MMM FIRE Cohort of 2020.
Post by: MrsStubble on June 16, 2015, 03:06:42 PM
Post by: DTaggart on June 16, 2015, 05:34:50 PM
All assuming I manage to stomach another 4-5 years at my current job :)
Post by: jbfishing on June 16, 2015, 06:33:19 PM
Post by: aspiretoretire on June 16, 2015, 07:02:27 PM
Post by: Chesterfield on June 16, 2015, 08:58:19 PM
I have put 20 years in my career and supported wife through med school, so she can pay the bills for a while. I am taking 6 weeks off to walk the Camino de Santiago this fall, because I want to start traveling at least 4 weeks a year.
Post by: Nancy on June 17, 2015, 04:44:45 AM
Post by: chubbybunny on June 17, 2015, 01:44:04 PM
Post by: Elderwood17 on June 17, 2015, 02:16:04 PM
So barring any horrific market changes or health issues, I look forward to being in the class of 2020!
Post by: Chesterfield on June 17, 2015, 04:23:48 PM
Post by: desk_jockey on June 18, 2015, 08:55:47 PM
Post by: spud1987 on June 19, 2015, 11:39:41 AM
Our baby and house hunting issues in the Bay Area may complicate our plans (see my journal), but the good news is that we are still on pace to hit our goal (1M in investable assets (including retirement accts), our rental property, and a paid off house)!
I feel like the closer we get to our goal, the more leeway we have with unexpected plans. For example, losing my job in two years would be much less worrisome than now, just like losing my job now is much less worrisome than two years ago.
Post by: TheContinentalOp on July 02, 2015, 12:03:07 PM
Post by: Heather in Ottawa on July 02, 2015, 12:46:03 PM
We're on track. In 2020 I'll turn 45. My rough FIRE goals... paid-for house and about $700,000 stash, which should cover $30,000/year in luxury living expenses for 20 years until we start collecting our pensions, which will be 'small' due to our short careers, but still about enough to mostly cover our expenses. Currently, the house is paid for, and the stash is just over $150,000, growing by about 80k/year, hopefully better soon once husband gets a steady job (teacher, not much seniority here after moving cities, so he mostly subs). We'd like for him to get 5 years of "grid rate" teaching work (subs get paid the minimum rate) so that he can have a good "best 5", then we'll both be done. Here's hoping he gets something in September.
We've optimized pretty much everything we'd want to, now we're just accumulating. It's too soon to make any firm predictions or decisions.
Post by: tonysemail on July 02, 2015, 12:59:58 PM
My original plan was to FIRE by 2020 and I might still stick with that plan.
But I've been toying with the idea of pulling the date forward a few years.
My biggest worry would be covering our large mortgage with rental income... and what happens if the rental market crashes.
So that's my #1 reason to keep plugging away for 5 more years.
I'd also like to stash away more funds for my kids' college tuition and my parents' retirement fund.
that's more of a nice to have though .. I view it as buying family harmony instead of negotiating less expensive schooling or living expense.
Post by: FIRE Artist on July 02, 2015, 02:04:00 PM
I will still have 12 years left on my mortgage at that time, I haven't decided if I will continue to work another year to pound down the mortgage, or move to a lower cost area. I am calculating my withdrawal rate to include my mortgage with the intention that once I am mortgage free, the extra cash becomes my travel/fun money. I don't have any particular plans to travel right now, as I have done what most would consider a lifetime of travel since 1998 through working overseas up until two years ago.
This is getting exciting.
Post by: Fastfwd on July 03, 2015, 05:43:03 AM
If the market tanks it could be as far as 2025.. 2030.
I'm in a very specialized segment of IT so once I leave I can never go back at more than maybe 50% pay. I have to be careful about this.
I really have to start thinking seriously about what I want to do with all that free time when I get there :)
Post by: DecD on July 03, 2015, 07:08:09 AM
Post by: Caoineag on July 03, 2015, 07:28:55 AM
Post by: chevelle57 on July 04, 2015, 06:31:51 PM
Post by: fishnfool on July 04, 2015, 09:52:43 PM
Post by: BBarton on July 06, 2015, 03:23:16 PM
I may end up working until about 45, depending on how work is going and what kind of lifestyle/ family situation I have then. If it's just me, it'll be 2020. If there is a future wife and kids, it'll be more like 2025 by my calculations.
What keeps me going is just looking at the 60-65 year old people at work and knowing that I don't want to be one of them.
Post by: Lucky Girl on July 07, 2015, 08:04:30 AM
In 2020 my kids will be 10 and 7, so I want to be able to start traveling extensively with them in the summers. My 23 days of vacation are not compatible! I also want to be home to help them with homework and volunteer at their school. I may suffer from OLY syndrome, so we'll see if I can make it to 2020.
Post by: dude on July 07, 2015, 08:12:31 AM
Post by: Nancy on July 07, 2015, 08:37:12 AM
Post by: prudence on July 07, 2015, 09:57:51 AM
Post by: Gretamom on July 08, 2015, 09:26:38 PM
We plan to have 1.2 million in rentals, only about 60K in investments, and our paid for house worth about 200K.
My question is this: I know what FI means, but when are you truly FI? My husband and I could probably cover our daily living expenses in 3.5 years, but I would feel more comfortable if we made 1500 more in residual income a month beyond what we need. I just feel more comfortable that way. I like having a cushion which is why I'm going with 2020.
Post by: SwordGuy on July 08, 2015, 10:13:59 PM
I expect my wife to retire within 3 years with her teaching a few classes for fun each year. I'm aiming for 3 to 5 years. If the rental house business picks up we'll make it sooner. I may take a few out of town programming gigs for a few months out of every year to keep my skills current and let my stash grow for a bit longer.
If we just had to plan a retirement for the two of us we could definitely do so in one to 3 years. But we have a mentally handicapped daughter so we have to plan for 4 retirements. 1 for each of us, 1 for her while we're alive, and 1 for her after we pass on.
Post by: MsSindy on July 09, 2015, 08:34:10 AM
If I could convince my husband to sell our house, we could probably retire in about a year (we'd be 48/52). But alas, that just ain't gonna happen! He's very risk-adverse when it comes to finances/retirement. He likes to spend money on toys (RC Jets), so we've come to an agreement that he is willing to work until he is 59 and he can spend XX amount on 'toys' each year. Otherwise, he's pretty Mustachian, so I can't complain too much. At 59, he'll also receive $100k in a medical pension type of an account, so that's a big carrot for him. I've explained all sorts of scenarios that would allow both of us to retire much earlier, but he's just not willing. So be it. We agreed that I retire in 2020 and he keeps on until 2023 - he's happy, I'm happy (I could be happier, but I think this is as good as it's going to get).
Here's how our assets are divided (~$1.3mm)
31% Non-retirement Accounts
25% House Equity
44% Retirement Accounts (IRA / 401k)
Our investments are divided as follows:
29% Stocks
71% Mortgages that we hold
We'll easily slide into Retirement and will have the equity in our (too big) house to use if we ever need it by being able to substantially downsize.
Post by: FancyNest on August 11, 2015, 10:14:41 AM
Right now, we're sticking with the 2020 plan but with layoffs looming at my place of work, my wife and I sat down to cover the fallout and be prepared in case I do get a paid farewell.
The results - surprisingly manageable! I would stay home with the youngest child, my older child would still go to daycare, we would refinance out of our 15 year mortgage into a 30 year and sell our (way too fancy) 2nd vehicle used for my commute. We decided to continue voluntary large mammal ownership as MMM puts it - we have a middle aged large dog who keeps our little ones healthier by making sure our home never stays clean for too long.
In doing so, we cut our expenses down to around 4400 a month, luckily fully covered by my wife's salary and see if we want to change my date from 2020 til 2015. Unfortunately, that would mean an extra 2-3 years for wife's career, but she is one of those lovely people that believes in letting me do what makes me happy and is willing to put her supportive money where her mouth is.
In writing this, I'm realizing it's not so much of a "I might be moving cohorts" message as it is a "I am so thankful for my wife" message. Anyone else have frugal and supportive partners they want to talk about in anonymous public? Chances are there's some deserving ones right on this thread.
Post by: 2Birds1Stone on August 11, 2015, 11:15:48 AM
Would LOVE to be able to join you guys and gals, sadly my realistic FIRE date is ~2027.
I could be considered FI by Dec 31 2020 if I moved to a 3rd world country -_-
Does that make me an honorary member?
Boy a lot has changed since April.
Ramped up at the new job faster than expected, hitting my sales quota has resulted in some nice commission hitting my accounts this fall. Looks like 2020 for FI might be doable. Definitely not enough time to RE but will have the financial security not to stress about barebone expenses at that point!!
Post by: velocistar237 on August 11, 2015, 11:41:24 AM
Anyone else have frugal and supportive partners they want to talk about in anonymous public? Chances are there's some deserving ones right on this thread.
I recently tweaked our projections spreadsheet. As I was sharing the results with my wife, she commented that she was willing to start working full-time so that I could quit now if I really wanted to. I was kind of floored. We played with the numbers and figured out that I should work at least three more years with our current expenses. Otherwise, she would have to work for ten more years before we're FI. I want her to have flexibility when she starts working. At the same time, we'll work on reducing expenses and see where that goes.
Post by: Nancy on August 11, 2015, 02:41:39 PM
I've toyed with the idea of switching to a career that I've always wanted to try, but that would result in a 57.5% pay cut. My husband fully supports this idea and has urged me to go for it. He's willing to work in his higher paying job for the additional years to FI. (He's the most wonderful human - for many reasons.) I'm sticking it out in my higher paying job (for now), but it helps to know that the option is open. Likewise, I would happily work at my current job if he wanted a break from working. I think I would tolerate my job better if I knew it was allowing him to have fun out in the wild.
Post by: tooqk4u22 on August 12, 2015, 12:47:10 PM
We keep talking about how humans are the only animals that retire and she's lucky enough to have found her occupational bliss.
I think you are forgetting about another very important distinction....Humans are the only animals that WORK (except of course for those animals that are forced to work by humans, but even those eventually retire).
Post by: velocistar237 on August 12, 2015, 01:17:22 PM
We keep talking about how humans are the only animals that retire and she's lucky enough to have found her occupational bliss.
I think you are forgetting about another very important distinction....Humans are the only animals that WORK (except of course for those animals that are forced to work by humans, but even those eventually retire).
It's interesting to compare modern work to what work looked like over most of human history.
Post by: tooqk4u22 on August 12, 2015, 02:04:19 PM
We keep talking about how humans are the only animals that retire and she's lucky enough to have found her occupational bliss.
I think you are forgetting about another very important distinction....Humans are the only animals that WORK (except of course for those animals that are forced to work by humans, but even those eventually retire).
It's interesting to compare modern work to what work looked like over most of human history.
Evolution is a bitch....the good ole days when we were nothing more than glorified animals sleeping in caves, only getting up to forage and hunt.......
Post by: SwordGuy on August 14, 2015, 09:03:13 PM
Post by: BlueMR2 on August 15, 2015, 06:50:20 AM
I've only been tracking expenses the last 2 years, and this is the first time I've bothered with the projected budget... I was pleasantly surprised to find that my back of the envelope calculations were too pessimistic. If we keep living our spendy pants way and lose the jobs, we're covered by the 4% WR. Cutting out the expensive hobbies puts us at about 3% WR. So, *technically* we're FI by the math, but when I look at my investments and how poorly they've recovered from the big crash, I have to question whether those historic returns might be a bit optimistic in the future.
So, I'll feel much more comfortable with a larger 'stache, and I still enjoy doing what I do now. Whether or not my employer still values my contributions, though, one can never say. :-) 2020 sounds like a reasonable timeframe to shoot for to rethink my "rest of life" plan if I can make it that far! I'll concede that it's possible I won't make it that far, only time will tell. :-)
My wife enjoys working so much that she plans on working to 65 though. We've found that she does not really like idle time the way I do. I've been off work for a few months before and loved it. She lost her job a few years back now and was bored within a week. She's just now starting to get some interviews again, the job market has been absolutely horrid these last few years. She ran out her severance, extended unemployment, and then found nothing for months before finally getting a few part-time minimum wage hours here and there. She's finally getting some nibbles now and hopes to find something full-time before the year is out. That would make me feel a lot more comfortable, being the only one carrying the responsibility for earning money for years on end gets very tiring.
Post by: tarantoga on August 15, 2015, 06:28:01 PM
The main driver is the vesting of pre-IPO stock options that will continue until then and get me about $300k/year above my salary if the company stock stays where it currently is. If the stock tanks, I may retire earlier as there's no longer a huge incentive to keep working. Number-wise FIRE may be possible now, but that is too good to pass. It doesn't hurt that the job is fun and I like it...
Wife and me will be 53 by then, and all kids will be off to college. Perfect time to retire and enjoy life!
Post by: steveo on August 15, 2015, 10:45:20 PM
Post by: zephyr911 on August 16, 2015, 08:32:03 PM
STATS
Married, combined NW 250k, combined wages 140k, mostly separate accounts. I make about 100k and save about 50%.
GOALS
Neither of us wants to quit, exactly. She started as a part-time contractor at her current job and could return to that status at will; I'd like to leave full-time federal service, but I still have 7 years till my ANG retirement and would also be doing real estate and managing rentals (2 for us, and a large/growing portfolio for an LLC that I own 1/3 of). We'd also like to move from AL to WA to be near my family while my sisters' kids grow up, but if moving isn't practical in the near term, visiting for a month+ every year would be great.
I'd like to start this process in 2018/19 but it depends on a lot of things right now. 2020 mostly resonates with me because it's the first year after my LLC finishes its 5-year plan and starts paying distributions - pessimistically, a grand a month, optimistically 2k+. Since we'll both easily clear 20k or more just doing our part-time fun jobs, that's effectively our worst-case FI date.
Post by: zephyr911 on August 16, 2015, 08:38:05 PM
I was originally in this cohort by virtue of wanting to retire in the year of my 55th (Jan 3, 2020) in order to have penalty-free access to my TSP, but with the passage of the recent Defending Public Safety Employees Retirement Act, I can now go in early 2019 if I want to. Lots of reasons to still stick around until 2020, but who knows? I could be totally fed up in 2019 and not want to stick around until then. Time will tell.Roll over to IRA and do SEPP... who needs 55?
Post by: Freedomin5 on October 31, 2015, 12:23:21 AM
Post by: Heather in Ottawa on October 31, 2015, 06:20:54 AM
Post by: meadow lark on October 31, 2015, 10:09:13 AM
I agree with the OP - my money is seriously boring. But in a good way. The big pieces are optimized, which means the smaller pieces are pretty easy. I did a discretionary spending fast for about 3 months that helped me reset my buying thermostat. Not that I bought a lot before, but I think it is good to ratchet Hedonic adaption down periodically.
Post by: MrMoogle on November 09, 2015, 09:31:06 AM
I hit 25x my estimated expenses this year, so I would jump on an offer to switch to part time. I want more than 25x for a 60 year retirement, and if I have a family one day, it will no longer be 25x.
Post by: FireLane on November 10, 2015, 07:29:45 PM
It's an aggressive goal - I only just figured out that it's mathematically possible for me, as I said in my journal (http://forum.mrmoneymustache.com/journals/always-a-mustachian-just-never-knew-it/msg866009/#msg866009) - but maybe standing up to be counted will help me hold myself accountable and give me incentive to stick to it. :)
Post by: Faraday on November 10, 2015, 07:45:28 PM
As for FIRE, here's how I look at it.
If necessary, I could chuck my job tomorrow, move to a LCOL area, be stoic and learn to be happy with what I had.
In another 2-2.5 years, I could retire, play big money chess and fly domestically along with the biking and hiking.
In five years (4.1.20) I could do all of the above plus international bike tours. That's the goal.
There have been layoffs at my place of employment. Here's how it would play out for me:
If I were laid off tomorrow:
Goal:Immediately refi the house.
Result: I could leisurely find that next job. It would not have to pay as much as current job.
In another 2-2.5 years:
Goal: House paid off.
Result: I could be FIRE but be on the poorer end of things. I would need a side gig and it would need to be cash flow positive.
In another 5 years:
Goal: House long since paid off. Solar PV and Solar hot water installed and working. Own and drive an EV.
Result: I could be FIRE and be very comfortable. Side gig would not have to make money.
Post by: roadtrippers on November 11, 2015, 01:51:09 PM
Post by: flan on November 16, 2015, 09:52:22 AM
Situation: DINK
NW: ~200K NW
2020 FIRE goal: ~900K
Love having camaraderie!
Post by: meadow lark on November 16, 2015, 07:33:28 PM
Post by: Faraday on November 16, 2015, 09:40:23 PM
Faraday, if you were laid off, could you refi the house?
Yes, if I got the same package that's been getting handed out. Layoff-ees get some-number-of-weeks of notification and remain on the books whether they are in the chair or not. So quite literally, if I were laid off but acted quickly enough, i would still have the job and the company vouches for that when someone calls to verify employment.
One of my friends who took the layoff actually purchased a house during his notification period.
Post by: HappyMargo on November 18, 2015, 04:26:15 AM
Already have a Count Down calculator set for my birthday in 2020 to reach FI.
(253 weeks left. That's 1,012 working days. I love seeing that number go down!)
We will have our house paid in full in 2018. We actually could FIRE then by selling the house & moving to LCOL area. But we still like our jobs & LOVE our location. So we'll use 2 years to add to the 'stash & practice living on/below our retirement budget. (DH was an incredible spendy-pants. But he's made terrific strides & is getting the hang of mustachianism.)
Currently I've already cut down to 4 days of work/week, which is so nice! DH works just 3.5 short days/ week (I tease that he's already semi-retired!)
Once FI is reached in 2020, I plan to shift to per-diem (as needed shifts) because I'd like to keep all my licenses active & continue working very part-time thru out the year. I truly enjoy my work & co-workers, wouldn't mind be SWAMI for quite a while. DH will close his business, then only work seasonally 3 months/year. That little extra $ will cover all the traveling we have planned!
Post by: NorCal on November 18, 2015, 07:43:26 AM
-No recessions between now and then (note to others on this thread: this should be on your radar)
-We decide to not have a second kid. We're currently leaning heavily towards yes
-I can build a house in the Bay Area for below-market price (This is a current project I'm negotiating)
-Once I take time off to build said house, I can easily re-enter the work force at comparable wages to my last job
-My wife continues to get kick-ass bonuses at work
Given all of the above, we might be closer to 2025, but I'd say we're in the range.
Post by: ac on November 18, 2015, 01:59:36 PM
I also have a 3rd kid on the way, and I'm trying to keep that life change from dramatically altering the FIRE date. I think if something's going to alter the FIRE date, a new baby is a pretty good reason.
Post by: canadian bacon on November 19, 2015, 02:26:58 PM
Putting in my retirement note before 45 years old will be pretty cool.
I calculate that we will have 54X living expenses saved. (4% rule? naaah, 1.91%)
Post by: radtek2112 on November 20, 2015, 02:14:08 PM
Post by: Faraday on November 21, 2015, 10:25:40 PM
I calculate that we will have 54X living expenses saved. (4% rule? naaah, 1.91%)
Damn! *envy*......
Post by: pachnik on November 22, 2015, 07:57:37 AM
2020 is an ambitious, but possibly doable target for us. In order for 2020 to be possible, the following would have to happen:
-No recessions between now and then (note to others on this thread: this should be on your radar)
Me too. The line about recessions caught my eye. This is something i've been thinking about too. I've got about another $150,000.00 in accumulation to go.
If my health is good after FI, I would continue to work in some form or other.
Post by: Melissa on December 03, 2015, 07:33:23 PM
My husband is concerned about ER because he doesn't want to start a Roth pipeline too early so his plan is to work part time with the same company he already works with. I'm home concerned part time won't be so "part time". He is usually the one that gets thrown into a project that's in trouble so he can try to rescue it. I am currently working on getting a job (full time now since the kids don't need me here) so hopefully I can convince him that we can retire completely in 2020
Looking forward to everyone's progress
Post by: steveo on December 19, 2015, 02:18:07 PM
Post by: HappyMargo on December 19, 2015, 03:01:15 PM
It will feel very strange switching over from "saver" to "spender." I'm afraid I'll be clutching the purse strings so tightly, pinching every penny, that I'll make DH & myself miserable in retirement. And no one wants that!
So question:
--Do my 2020 cohorts already have a full game plan in place for how to access & draw upon investments?
--Do you worry about the switch from saver to spender?
Post by: steveo on December 19, 2015, 08:13:55 PM
I'm planning to use my remaining work years to study up on investing & withdrawal strategies.
It will feel very strange switching over from "saver" to "spender." I'm afraid I'll be clutching the purse strings so tightly, pinching every penny, that I'll make DH & myself miserable in retirement. And no one wants that!
So question:
--Do my 2020 cohorts already have a full game plan in place for how to access & draw upon investments?
--Do you worry about the switch from saver to spender?
I'm comfortable with everything except for drawing down. So I'm comfortable with not going to work (I can't wait) and I'm comfortable with my asset allocation and I'm cool with my FI target.
When it comes to drawing down though I'm nervous. I would like to not draw down for 5-10 years as that is I believe the period of time bad returns can set you up for long term failure.
My initial thoughts are to draw down from bonds first and then rebalance once per year including taking some amount out. I'm nervous though about how much to take out.
Post by: Heather in Ottawa on December 19, 2015, 09:45:21 PM
Post by: Prairie Gal on December 20, 2015, 07:49:06 AM
I'm planning to use my remaining work years to study up on investing & withdrawal strategies.
It will feel very strange switching over from "saver" to "spender." I'm afraid I'll be clutching the purse strings so tightly, pinching every penny, that I'll make DH & myself miserable in retirement. And no one wants that!
So question:
--Do my 2020 cohorts already have a full game plan in place for how to access & draw upon investments?
--Do you worry about the switch from saver to spender?
I must admit, I have been so focused on paying off debt, and then putting a plan in place for saving that I have not even thought of a draw down plan. I guess we have four years to think about it.
Yes, I'm sure it will feel very weird to switch from saver to spender. My plan is to transition slowly. At first I will drop down to three or four days a week at work, making every week a long weekend. This is so that I will just be making enough to live on, and let the stash grow without drawing it down. If the BS bucket at work gets too full, I can switch to contract work from home.
I use YNAB for budgeting, and my plan is to continue to use it in retirement. That way I will know what is in my budget, and won't have to pinch every penny. Of course this is all theory. Who knows how it will all pan out? I'm sure that at least in the beginning it is nerve wracking.
Post by: RedefinedHappiness on December 20, 2015, 11:39:43 AM
Post by: HappyMargo on December 22, 2015, 04:45:13 AM
@ Heather: Saving is fun! I've also really enjoyed getting on-board the saving train, cutting back on all spending & watching the #s grow. The switch over will take some practice too, I guess. Looks like we have a good forum with MMM to help us battle thru the "draw-down nerves" together :-)
@ Steveo: My nerves are telling me to delay the start of draw-down too!
Instead of continuously toying with OMY, I'm planning to scale my job back to extreme part-time (luckily for me, my career allows this. Soon as I hit my magic savings # in 2020, I'm flipping the switch & going per diem!)
That way I've got flexibility & buffer for the first shaky 5-10 years. By then my plan should feel solid & ready to fully FIRE.
@ Prairie Gal: I like your transition plan! Similar to mine. I've already scaled down to 4 days/ work, still able to save 62-68%. Work from home is not an option, but by 2020 I ought to be able to work just one or 2 days per week.
Seems my plan involves baby steps & ripping that bandaid off slowly!!
:-)
Post by: dude on December 22, 2015, 05:40:46 AM
I was originally in this cohort by virtue of wanting to retire in the year of my 55th (Jan 3, 2020) in order to have penalty-free access to my TSP, but with the passage of the recent Defending Public Safety Employees Retirement Act, I can now go in early 2019 if I want to. Lots of reasons to still stick around until 2020, but who knows? I could be totally fed up in 2019 and not want to stick around until then. Time will tell.Roll over to IRA and do SEPP... who needs 55?
Not me, because I can now withdraw penalty-free after 50. And I would never roll over to an IRA for the purpose of doing SEPPs anyway; first, because I could do SEPPs right from the TSP, but more importantly, because the TSP has the lowest fees of any plan in the world (0.029% ER), transactions cost zero, and it has the no-risk G Fund, which is not available in any IRA.
Post by: dude on December 22, 2015, 05:54:16 AM
I'm planning to use my remaining work years to study up on investing & withdrawal strategies.
It will feel very strange switching over from "saver" to "spender." I'm afraid I'll be clutching the purse strings so tightly, pinching every penny, that I'll make DH & myself miserable in retirement. And no one wants that!
So question:
--Do my 2020 cohorts already have a full game plan in place for how to access & draw upon investments?
--Do you worry about the switch from saver to spender?
As to the first question, yes. Pension collectible immediately upon retirement for me should cover @80% of pre-retirement expenses; the other 20% can come from either nest egg or side gig (side gig, which I already have going now, being the preferred source, so nest egg can continue accumulation phase). If nest egg, I can set a monthly withdrawal amount at the beginning of the year. My intention is to set a modest withdrawal amount in Year One and see how it goes -- if the side gig income covers, I'll simply save the withdrawals into a taxable account, if not, then I'll spend it. As to the second question, despite all the academic assurances (and real-world examples) about safe withdrawal rates and such, and the likelihood that I wouldn't have to exceed 2%, YES, I worry! But not so much that it will keep me from retiring.
Post by: pachnik on December 22, 2015, 10:46:47 AM
I must admit, I have been so focused on paying off debt, and then putting a plan in place for saving that I have not even thought of a draw down plan. I guess we have four years to think about it.
Yes, I'm sure it will feel very weird to switch from saver to spender. My plan is to transition slowly. At first I will drop down to three or four days a week at work, making every week a long weekend. This is so that I will just be making enough to live on, and let the stash grow without drawing it down. If the BS bucket at work gets too full, I can switch to contract work from home.
I use YNAB for budgeting, and my plan is to continue to use it in retirement. That way I will know what is in my budget, and won't have to pinch every penny. Of course this is all theory. Who knows how it will all pan out? I'm sure that at least in the beginning it is nerve wracking.
Right now, I am pretty clueless about spending the $$$ saved. I am also planning to transition slowly if my health is good. Once I am FI, look to go part-time and then to just doing temp work. So I am not planning a sudden stop to saving and 100% shift to spending. More like not adding to the stash for a while but also hopefully not taking out 100% of my expenses from it.
I will also have to have a closer look at how to do this.
Post by: AnEDO on December 28, 2015, 08:44:31 AM
Post by: ysette9 on December 30, 2015, 12:00:02 PM
Then again, we also just started throwing around the idea of "what if one of us got an assignment in Europe...?". That could also be a really cool way to kick off a retirement test run!
Us: 34/35 married couple with one 1.5 year-old kid; if mother nature is kind we may add to that collection
Post by: ysette9 on December 30, 2015, 12:11:12 PM
I'd be interested in your thoughts.
Post by: steveo on December 30, 2015, 02:06:47 PM
@ Steveo: My nerves are telling me to delay the start of draw-down too!
Instead of continuously toying with OMY, I'm planning to scale my job back to extreme part-time (luckily for me, my career allows this. Soon as I hit my magic savings # in 2020, I'm flipping the switch & going per diem!)
That way I've got flexibility & buffer for the first shaky 5-10 years. By then my plan should feel solid & ready to fully FIRE.
I think that this is where I'm heading towards as well assuming I can work part time.
Post by: madamwitty on December 30, 2015, 02:09:24 PM
Also, on the topic of draw-down strategies, I have only just started looking into that myself (scary to think of drawing down instead of saving!), but I found this article the other day and found it interesting: http://www.caniretireyet.com/new-research-the-best-retirement-withdrawal-strategies/#more-6901. (http://www.caniretireyet.com/new-research-the-best-retirement-withdrawal-strategies/#more-6901.)
I'd be interested in your thoughts.
Interesting link. I haven't do too much thinking about drawdown, but was surprised to see the rebalancing strategy did so poorly in his analysis. Then I realized the portfolio was 50/50 stocks/bonds. I'd like to see a similar analysis on a more aggressive portfolio, which many of us here will have.
Post by: ysette9 on January 01, 2016, 09:40:37 AM
Post by: TheContinentalOp on January 07, 2016, 02:53:07 PM
My immediate post-FIRE plans involve biking across the USA, so if I don't hit my net worth goal by April, I am going to have to stick it out for another year.
On the plus side I started writing some ebooks and made a (very) little money on amazon. I hope to be doing better in 4 years.
Post by: ysette9 on January 07, 2016, 07:48:05 PM
Post by: TheContinentalOp on January 18, 2016, 11:19:16 AM
Out of curiosity, does anyone care to share their target stash size, projected yearly spending, and asset allocation?
Target $800k
Spent just under $24k last year
projected spending $27k
Stocks 70%
Bonds 20%
REIT 10%
Post by: pachnik on January 18, 2016, 11:26:21 AM
Out of curiosity, does anyone care to share their target stash size, projected yearly spending, and asset allocation?Stash target: $525,000.00
Yearly spending: $26,000.00
Projected spending: $31,000.00
Asset allocation
Bonds 50%
Stocks 50%
I think I will hit my target in about 5 years when I am 56 or so. Of course this depends on stock market returns as well as what I am putting in. Then the plan is to work part-time for a few years if i can and start collecting CPP at 60.
Post by: spud1987 on January 18, 2016, 12:52:01 PM
Out of curiosity, does anyone care to share their target stash size, projected yearly spending, and asset allocation?
$1.15M.
Yearly spending 45-50k.
Asset allocation will be 15% rental property, 65% stocks, 16% bonds, 4% cash.
My wife will continue to work for a few years while I raise the kids at home (at least that's the plan) so our actual withdrawal rate will likely be more like 3% once we start drawing on the stash.
Post by: onlykelsey on January 25, 2016, 02:25:42 PM
I'll be 33 in 2020.
Post by: 2Birds1Stone on January 25, 2016, 05:46:52 PM
By then I hope to be at $400,000, which would allow for $12,000/yr draw down @ 4%.
Not enough to be FIRE but definitely a nice FU 'stache
Post by: WerKater on January 26, 2016, 10:28:01 AM
Post by: doggyfizzle on January 26, 2016, 05:53:13 PM
Out of curiosity, does anyone care to share their target stash size, projected yearly spending, and asset allocation?
My wife and I plan on being FI (but not RE) in 2020. Our projected yearly spending will be roughly 50k (including mortgage), with a stash of a bit more than $1 million in liquid/retirement assets and about $500k in home equity with about $275k remaining on the mortgage. We should have about $25k/year coming in from dividends and quarterly draws (which will cover our mortgage), as well as a couple thousand in income from a 10% stake in an LLC I hold. At this point (2020), we'll have a kiddo about to start kindergarten, so my wife will probably drop down to part time so she can be home with him after school. We're both pretty fortunate that we have jobs with EXTREME flexibility (9/80 work schedule and telework for me, lots of work from home for my wife, about 10 weeks paid leave annually) and good compensation, so neither of us feels the urge to completely unplug, but that might also change...
But, 2020 should be FI for us once our bare-bones housing expense is covered by non-labor income. I have gone through the "Do You Regret Paying Off Your Mortgage Early Thread" many times, and I can't wait to still have a mortgage but to get to enjoy the feeling of watching my investments pay my shelter costs.
Post by: BFGirl on January 26, 2016, 10:49:00 PM
Post by: ToughMother on January 31, 2016, 12:27:03 PM
I'm aiming to have about $750K in my stash, plus the modest pension that would begin immediately, plus a wee bit of social security down the road. Add to that, I am (a) likely to do some PT teaching online (which I do now and love) and (b) have a younger partner who currently loves her job and expects to stay there until she is vested in her own DB plan.... Basically, my plan covers my part of our expenses. Should she want to FIRE at the same time, that just adds ~2 years to the plan.
I feel particularly grateful to be able to think of leaving FT-work so early since I missed about 10 years of FT work due to serious illness (and had many many medical bills during that time). My current FT gig is very stressful so thinking that there is a finite timeframe helps a lot.
I am an AWESOME saver and a HORRIBLE spender, so I appreciate the conversation about transitioning from saver to spender. I think that will be the hardest part of this whole plan for me, so thanks for any thoughts and pointers!
Post by: WYOGO on February 29, 2016, 04:30:08 PM
As for FIRE, here's how I look at it.
If necessary, I could chuck my job tomorrow, move to a LCOL area, give up air travel and big money chess, but still bike and hike around North America. I would be stoic and learn to be happy with what I had. In another 2-2.5 years, I could retire, play big money chess and fly domestically along with the biking and hiking. In five years (4.1.20) I could do all of the above plus international bike tours. That's the goal.
Waking this sleeping beast up again, I would say this is a fairly accurate assessment of my feelings on the moment. I am currently FI with a sub 3% withdrawal rate at 35 but I am in a unique housing situation which works well for right now. I anticipate an increase in COL by at least 30% when I RE.
My current position is the very best work/life balance I have ever had and I make a professional wage for almost part time hours. Since I am not dissatisfied at the moment but desire to live in a higher COL location, I too am on the 2020 bandwagon. At my current savings rate cresting 90% I expect financial concerns to be largely irrelevant when I finally call it quits between now and my 40th birthday in the year 2020. As we all know the future with respect to these things is fundamentally unknowable and there are numerous things that may speed this up considerably for me, virtually none that will delay it at this point. :)
Post by: powersuitrecall on March 02, 2016, 11:27:55 AM
We are a family of 2 earners and 2 young kids in Canada. Our target retirement stash will be $1.25MM with a paid-for home. Our target COL will be $50K, which is more than we currently spend, but the extra budget will allow a certain piece of mind plus some travel indulgences.
So! 2020 will be the year we become FI. I will RE and DW will continue to work for a year or so. My time for that year will be to renovate our home.
Post by: Batastrophe on March 20, 2016, 01:16:43 PM
Obviously life and the markets can always throw a curve ball, but 2020 is the year for us as of the moment!
Post by: Life in Balance on March 25, 2016, 01:04:29 PM
Post by: RedefinedHappiness on March 26, 2016, 08:15:02 AM
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
Post by: onlykelsey on March 26, 2016, 11:30:14 AM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I'm not sure I follow your question. Do you mean the turbulence in the markets in 2016? The S&P 500 is about where it was when the year started, no? That doesn't seem so bad.
As for your other questions, 2020 is a very soft timeline for me at this point, so I don't think I'm really thinking about the emotional changes. I'm hoping to have two kids by then, which will probably drastically alter my life and perhaps my timeline. That's okay. I'm 29 and don't need to rush too much.
For me, my big question is how long I stick it out in my brutal, on call 24 hours a day, come back from your family funeral early job. If I'm on more of a 2022 or 2024 schedule, it probably makes sense to look for a more humane job for the interim. if I really want to accelerate my plans and deal with the pain, maybe I should stick it out at this one for so long as they'll have me.
Post by: ToughMother on March 26, 2016, 01:25:23 PM
Add me to this 2020 crew too -- I become vested in my defined benefit plan in mid-Nov 2020 at age 56. That should do it for me....
I'm aiming to have about $750K in my stash, plus the modest pension that would begin immediately, plus a wee bit of social security down the road. Add to that, I am (a) likely to do some PT teaching online (which I do now and love) and (b) have a younger partner who currently loves her job and expects to stay there until she is vested in her own DB plan.... Basically, my plan covers my part of our expenses. Should she want to FIRE at the same time, that just adds ~2 years to the plan.
I feel particularly grateful to be able to think of leaving FT-work so early since I missed about 10 years of FT work due to serious illness (and had many many medical bills during that time). My current FT gig is very stressful so thinking that there is a finite timeframe helps a lot.
I am an AWESOME saver and a HORRIBLE spender, so I appreciate the conversation about transitioning from saver to spender. I think that will be the hardest part of this whole plan for me, so thanks for any thoughts and pointers!
Well, scratch THIS plan. I just accepted a new HAPPIER ME job that pays WAY less (-$40K) than I'm currently making. I'm staying in the same system, so I'll still vest at the same time and my top 3 years of earnings determine my pension, so it will count my current job's earnings. That's all good.
The downside is it is going to take significantly longer to build up that $750K. I'll continue to supplement my FT salary with side hustles and the notion is that happier means that longer work is ok versus the insane stress I've been dealing with for the last year and a half. The hardest part is the gig doesn't start until Sept -- have to keep it on the DL for quite some time even though I'm pretty psyched about it (except the smaller savings part...).
Post by: steveo on March 26, 2016, 02:55:03 PM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I bolded the part that I feel is significant. I also think some things can go wrong up until 2020 so 2020 isn't a sure fire FIRE date for me at this point.
What can I do to get there quicker - basically nothing. I have to be patient and I don't like working in general so it is tough.
Post by: RedefinedHappiness on March 26, 2016, 03:40:57 PM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I'm not sure I follow your question. Do you mean the turbulence in the markets in 2016? The S&P 500 is about where it was when the year started, no? That doesn't seem so bad.
As for your other questions, 2020 is a very soft timeline for me at this point, so I don't think I'm really thinking about the emotional changes. I'm hoping to have two kids by then, which will probably drastically alter my life and perhaps my timeline. That's okay. I'm 29 and don't need to rush too much.
For me, my big question is how long I stick it out in my brutal, on call 24 hours a day, come back from your family funeral early job. If I'm on more of a 2022 or 2024 schedule, it probably makes sense to look for a more humane job for the interim. if I really want to accelerate my plans and deal with the pain, maybe I should stick it out at this one for so long as they'll have me.
To risk sounding like a therapist, my question was...how does this make you feel?
We all have something in common with our expected FIRE date, so I expect we will be having similar issues, thoughts, fears, excitement, etc.
Post by: jan62 on March 26, 2016, 04:34:58 PM
Fortunately I won't have to go to work for the whole five years as I have a year off next year of full pay and I'll use this to get our family home ready for sale. I will also have about 3 months leave by mid 2020, so I could use that up, reducing working days even further.
Our plan is to move into our small 4 room rental which we bought to retire into, we just didn't think we'd do it this soon, but I feel a big sense of relief now we've made the decision.
We have finished paying off our debts ($101,000) recently and now we are saving money into the offset account. Once we sell the house then we'll salary sacrifice the max ($70,000) a year into retirement funds and save the rest of my wage, living off hubbys wage until he retires. Then we'll draw down plus possibly a pension. I estimate our retirement living costs at $35,000 a year.
It will be great to have this thread to help me stick at my job, I can't earn the money I earn elsewhere, I'm basically exhausted and though I love the actual work I do with clients - the environment, staff cuts and resource cuts is making it very stressful. Making the decision to sell up and downsize and setting a date has really helped - I have a calendar above my desk at work and at the end of the day I cross it off.
Post by: BlueMR2 on March 27, 2016, 05:26:28 PM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
Feeling pretty good about it now. I was feeling kind of down last Summer, with a surprise early A/C & Furnace replacement and some job issues. However, having been able to buy in the market cheap for several months makes me feel good. Also found a "missing" IRA that I didn't realize my wife had from way back in the day. Now, even though I'm facing budget busting car repairs, our position actually looks really strong. The math, even done very conservatively, works to FIRE now. Still committed to 2020 for my extra insurance though.
Post by: Lucky Girl on March 28, 2016, 10:07:57 AM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I understand your question because I think I'm feeling the same. It felt like 2020 was very possible a year ago when I picked the date. My projection included average growth of about 6%. Now that we have had such a rocky year I am concerned that we will not get anywhere near 6% growth in the next four years. I can still "RE" because my plan was always for DH to continue to work until he is comfortable with our numbers (he will likely need much higher numbers to feel comfortable) but I'd rather have more in the stache to feel good about being done. If the market continues to be anemic I may do part-time past 2020 until I hit my number.
Post by: ysette9 on March 28, 2016, 01:31:27 PM
Post by: TheContinentalOp on April 01, 2016, 03:56:16 PM
Post by: Faraday on April 18, 2016, 09:22:53 PM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I'm feeling better and better about it every day. Market returns of course have been low, but I've been treating my home mortgage like a bond and it's been very stabilizing for my net worth numbers.
I continue to chip away at the cost of necessities of life. A recast of the mortgage will make our home "cheaper than a double wide". I'll make a few investments to further drop our utilities cost. I've just finished major maintenance on my 15 year old Honda and I'm hopeful it'll go another 3 years easily, getting me over 60MPG with every tiny 10.8 gallon tank of gas. I'll also continue to use my bike and ebike for short, local trips.
As the cost of living gets lower and lower for me, my confidence about 2020 improves. You may not see top performance in the market, but frugal measures always pay back. I'm expecting that by 2020, we'll easily be able to make it on $1000/month with the mortgage paid off.
Post by: BFGirl on April 19, 2016, 01:16:41 PM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I am still working to become more efficient about my expenditures and launching the offspring. The one thing that could delay me is if I decide to pursue a new job. I've been toying with the idea of something more challenging, but am trying to decide if I should wait until after 2020 to pursue that.
Post by: Livewell on April 22, 2016, 05:00:02 PM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
It's challenging to be so close yet still have some years remaining. I'm also targeting 2020 as my FIRE date. I have a plan and I'm executing it, meantime I'm trying not to sweat the details. I've thought about crossing thresholds, for example sometime in the next 12 months we will cross the "FIRE and move to LCOL" line, which to me means if we wanted to leave our current home we could FIRE (we don't), but we could. It's cool to reach these thresholds and know you are getting closer every day.
I've found this post by MMM to be most helpful in my current situation http://www.mrmoneymustache.com/2014/05/29/give-yourself-the-gift-of-not-worrying-about-money/
Good luck to all on your path!
Post by: RedefinedHappiness on April 23, 2016, 07:02:44 AM
-I would be FIRE if I moved to a LCOL area.
-one year, two years, three years away from FIRE
-
-
-
-
Post by: beelea on April 25, 2016, 09:14:52 AM
My "problem" right now is more of what's talked about here: http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/
I look at my balances every pay period, manually allocate all my money, feel satisfied for a few moments, and then get this feeling of "what else can I be doing"...because at this rate, I spend about $13K a year, save close to 70% of my income and love my job. I have zero adversity or drama in my life (knock on wood!). So I'm focusing more on my life experiences now.
I couldn't believe how well that post articulated my feelings. I actually won the lottery earlier this year- literally one in a million odds for the ticket, and that pushed my timeline forward a bit. I do not play the lottery regularly, obviously, it's a terrible bet. It was a $5 "for fun pool" with other people, but because I had the winning ticket, I got to keep most of the money. I mean, there was so much ridiculousness about that luck, and so little effort involved in making that money.
I feel a mixture of guilt for being so lucky/being alone in my circle of friends in my financial situation, and BOREDOM, and then a little more guilt sprinkled on for airing such trivial grievances. So that article really helped- I've been focusing on hobbies to keep busy after work that don't require a lot of physical energy - doodling with colored pencils, bought a kayak to be able to paddle with friends more often, started up a weekly themed potluck lunch at work to have a motivator to cook/come up with a new recipe. It has helped immensely. Just got to keep treading water, stashing that $ away, having as much fun as possible while keeping boredom at bay, and keeping fingers crossed the markets do OK. That's pretty much it for me!
Post by: Livewell on April 25, 2016, 10:00:16 AM
LiveWell - great post. Definitely something I need to keep working on. I also like the milestone idea. I know as I slowly and impatiently wait out the next four years, it would be helpful to have a handful of targets to celebrate along the way. Perhaps on those days, I can read the MMM article you referenced. Anyone want to help me create a few more milestone entries?
-I would be FIRE if I moved to a LCOL area.
-one year, two years, three years away from FIRE
-
-
-
-
Thanks for the feedback! DW and I have always been relatively frugal, it's been a different focus since I discovered MMM and FIRE three years ago. My list since then has looked something like this:
passed:
- Holy Sh*t this is possible!
- DW, check this out! check this out! check this out!
- OK, DW, let me slow down and make this easier for you since I am the finance geek in the family (I actually created a couple PPT presentations for her, graphic heavy)
- Wow, we have lot's of FU money!
- DW agrees that buying a bigger house really doesn't make any sense.
- DW, I am perfectly ok with you quitting your stressful career and be a stay at home mom
- Damn, we have a 5.5% SWR today. I love FU money! Know that it may take 2-7 years to get to 4% or so, so settle in to enjoy the remainder of the career and avoid as much bullsh*t as possible. Yay!
next:
- Cross threshold where we can FIRE by moving to LCOL area (if we choose to)
- No more preschool payments! (we value preschool, but it's expensive. Public school later. Today is our single largest expense)
- Officially OMY
- FI!
RE I am still thinking about. I don't want to do full time, and I want to slow travel, but I'm on the fence about part time. I've been thinking I might see if I could carve out a part time role at my current job because I like my employer and coworkers and the work is mostly rewarding with excellent pay and perks. If that isn't available, I would be fine with it too! I need to think this one through over the next couple of years.
Getting your signifigant other on board is very important. My DW is mostly on board. The freedom she has now has been a bit abrupt, but she's adjusting and choosing to be a SAHM has been very good for her. It's very interesting to watch and learn from because she is essentially having to process in a short time what I'm looking to do over a couple years. I think there is a lot of validity to thinking through the non-financial side of FIRE, and I think for most of us on this thread probably the best place to spend your time while you're finishing this portion of the journey.
Post by: fishnfool on April 25, 2016, 10:31:48 AM
Hi, I'll throw in with this cohort. 2020 is definitely possible if things go well, but as the timeline gets shorter, depending on a certain return seems riskier. Who knows, it could be 2025. Or later if things went real south. The awesome thing is, it's a fairly stress-free risk in my opinion. So what if I don't make it at 2020 and have to work another few years or even several years? I like my job, and I planned to stay on in my same/similar role, full time or part time, as a volunteer.If I won a lottery right now my timeline would disappear....But like you, I don't play often, maybe a few times a year. WTG!
My "problem" right now is more of what's talked about here: http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/
I look at my balances every pay period, manually allocate all my money, feel satisfied for a few moments, and then get this feeling of "what else can I be doing"...because at this rate, I spend about $13K a year, save close to 70% of my income and love my job. I have zero adversity or drama in my life (knock on wood!). So I'm focusing more on my life experiences now.
I couldn't believe how well that post articulated my feelings. I actually won the lottery earlier this year- literally one in a million odds for the ticket, and that pushed my timeline forward a bit. I do not play the lottery regularly, obviously, it's a terrible bet. It was a $5 "for fun pool" with other people, but because I had the winning ticket, I got to keep most of the money. I mean, there was so much ridiculousness about that luck, and so little effort involved in making that money.
I feel a mixture of guilt for being so lucky/being alone in my circle of friends in my financial situation, and BOREDOM, and then a little more guilt sprinkled on for airing such trivial grievances. So that article really helped- I've been focusing on hobbies to keep busy after work that don't require a lot of physical energy - doodling with colored pencils, bought a kayak to be able to paddle with friends more often, started up a weekly themed potluck lunch at work to have a motivator to cook/come up with a new recipe. It has helped immensely. Just got to keep treading water, stashing that $ away, having as much fun as possible while keeping boredom at bay, and keeping fingers crossed the markets do OK. That's pretty much it for me!
But I still feel fortunate to have the option to retire in 4 years and it is still our plan. I have pondered adding a year or two onto it, but the older I get the shorter life seems and I sometimes wish I could pull the plug tomorrow.
I still have a few concerns...
#1. Healthcare costs
#2. Having paid off mortgages
But adequate emergency funds and good health put my mind at ease right now. I also I could possibly work PT if I need to or if I get a little bored making the transition into retirement.
So for us our health is #1 to reaching our goal of having a active retirement and being able to do all the things we enjoy. The financials will be what they are in 4 more years and we will just continue to live within our means for now.
Aloha
Post by: Trudie on April 25, 2016, 11:00:40 AM
Current net worth = $1.3 million (including home equity of $235K) We're currently saving about $75K annually. Currently we're weighing the timing of moving closer to family. We'd probably spend about the same or even more on housing and are currently weighing whether we want to pay cash or carry a small mortgage (to help with cash flow until SS and Medicare). We'd like to have 1.75M in investments and on the five year plan should be able to get there.
Right now our biggest dilemma is housing availability in the area we want to move. All the other issues require careful thought, but are doable. In general, we are risk averse and I can see us being prone to OMY syndrome. I like this forum because it helps to get a push!
Post by: beelea on April 25, 2016, 05:35:39 PM
Hi, I'll throw in with this cohort. 2020 is definitely possible if things go well, but as the timeline gets shorter, depending on a certain return seems riskier. Who knows, it could be 2025. Or later if things went real south. The awesome thing is, it's a fairly stress-free risk in my opinion. So what if I don't make it at 2020 and have to work another few years or even several years? I like my job, and I planned to stay on in my same/similar role, full time or part time, as a volunteer.If I won a lottery right now my timeline would disappear....But like you, I don't play often, maybe a few times a year. WTG!
My "problem" right now is more of what's talked about here: http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/
I look at my balances every pay period, manually allocate all my money, feel satisfied for a few moments, and then get this feeling of "what else can I be doing"...because at this rate, I spend about $13K a year, save close to 70% of my income and love my job. I have zero adversity or drama in my life (knock on wood!). So I'm focusing more on my life experiences now.
I couldn't believe how well that post articulated my feelings. I actually won the lottery earlier this year- literally one in a million odds for the ticket, and that pushed my timeline forward a bit. I do not play the lottery regularly, obviously, it's a terrible bet. It was a $5 "for fun pool" with other people, but because I had the winning ticket, I got to keep most of the money. I mean, there was so much ridiculousness about that luck, and so little effort involved in making that money.
I feel a mixture of guilt for being so lucky/being alone in my circle of friends in my financial situation, and BOREDOM, and then a little more guilt sprinkled on for airing such trivial grievances. So that article really helped- I've been focusing on hobbies to keep busy after work that don't require a lot of physical energy - doodling with colored pencils, bought a kayak to be able to paddle with friends more often, started up a weekly themed potluck lunch at work to have a motivator to cook/come up with a new recipe. It has helped immensely. Just got to keep treading water, stashing that $ away, having as much fun as possible while keeping boredom at bay, and keeping fingers crossed the markets do OK. That's pretty much it for me!
But I still feel fortunate to have the option to retire in 4 years and it is still our plan. I have pondered adding a year or two onto it, but the older I get the shorter life seems and I sometimes wish I could pull the plug tomorrow.
I still have a few concerns...
#1. Healthcare costs
#2. Having paid off mortgages
But adequate emergency funds and good health put my mind at ease right now. I also I could possibly work PT if I need to or if I get a little bored making the transition into retirement.
So for us our health is #1 to reaching our goal of having a active retirement and being able to do all the things we enjoy. The financials will be what they are in 4 more years and we will just continue to live within our means for now.
Aloha
Ha! Yeah, I was one number off from winning 1.5 billion, but ended up winning $50K, minus the taxes, and then after paying folks out for the pool it was about $17K, but I was more than thrilled just the same :) Basically the state of KY just handed me an extra year or two of retirement!
Healthcare will be a factor for me as well. Hopefully the ACA will have settled out. It'll be a miracle if we could end up with universal healthcare, but I don't think I could bet on that. Housing is something I don't have to worry about now or for the forseeable future, but I do want to end up with a place of my own. I think at the most, I could work another couple of years, and then maybe do half time for a couple more before I transitioned to volunteer mode at work. Like you said, nothing we can do but wait and see how the markets do and what life does :)
Post by: powersuitrecall on April 28, 2016, 08:32:50 AM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I've been feeling the same way recently and while I don't have any quick fixes, I've been noticing the following about myself:
I'm generally happier when I don't track our NW on a daily basis
This is a tough habit to crack, but I've weaned myself down to about once a week (when we have a mortgage payment and invest excess cash). It's nice to see the numbers move, but it's become somewhat like watching paint dry. What's the point? The paint is going to dry whether or not I'm watching it.
I also make smaller milestones to celebrate. For example, when our NW hits a roundish number, or when the amount owing on our mortgage becomes smaller than one of our investment accounts. Signposts on the road to FIRE.
I'm generally happier doing/thinking about hobbies
Nothing to explain here. Occupying ones mind with enjoyable things tend to make one happier. I've recently been making more space for this in our daily routine.
I'm pretty miserable at work
Things are getting boring/stagnant in my job. They may pick up by fall, but right now there is a lot of waiting involved (I work in IT for a the Canadian Gov't). If I weren't on track for FI so soon I might take a risk and switch jobs, but this job has so many fringe benefits it would be tough to walk away from.
To remedy this, I've been taking overtime as vacation rather than pay. For instance, without a lot of planning, I took a day off work yesterday. I pulled the kids out of daycare/school and just hung out. We visited the park and played at home and had the time to make a kickass meal for the family - chicken nachos with home made corn tortilla chips. Yum. It's a little taste of how what our lives will be like post-FIRE.
Exercising helps
The work gym at lunch, Yoga at home in the evening, commuting by bike. The more I do these things the better I feel. It's incredible how direct the relationship is between exercise and happiness.
Not sure if this helps, but it felt good to write it!
Post by: RedefinedHappiness on April 28, 2016, 01:53:55 PM
Post by: BFGirl on April 29, 2016, 09:05:19 AM
Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I've been feeling the same way recently and while I don't have any quick fixes, I've been noticing the following about myself:
I'm generally happier when I don't track our NW on a daily basis
This is a tough habit to crack, but I've weaned myself down to about once a week (when we have a mortgage payment and invest excess cash). It's nice to see the numbers move, but it's become somewhat like watching paint dry. What's the point? The paint is going to dry whether or not I'm watching it.
I also make smaller milestones to celebrate. For example, when our NW hits a roundish number, or when the amount owing on our mortgage becomes smaller than one of our investment accounts. Signposts on the road to FIRE.
I'm generally happier doing/thinking about hobbies
Nothing to explain here. Occupying ones mind with enjoyable things tend to make one happier. I've recently been making more space for this in our daily routine.
I'm pretty miserable at work
Things are getting boring/stagnant in my job. They may pick up by fall, but right now there is a lot of waiting involved (I work in IT for a the Canadian Gov't). If I weren't on track for FI so soon I might take a risk and switch jobs, but this job has so many fringe benefits it would be tough to walk away from.
To remedy this, I've been taking overtime as vacation rather than pay. For instance, without a lot of planning, I took a day off work yesterday. I pulled the kids out of daycare/school and just hung out. We visited the park and played at home and had the time to make a kickass meal for the family - chicken nachos with home made corn tortilla chips. Yum. It's a little taste of how what our lives will be like post-FIRE.
Exercising helps
The work gym at lunch, Yoga at home in the evening, commuting by bike. The more I do these things the better I feel. It's incredible how direct the relationship is between exercise and happiness.
Not sure if this helps, but it felt good to write it!
This pretty much sums up where I am at.
Post by: Livewell on April 29, 2016, 09:46:02 AM
I'm generally happier when I don't track our NW on a daily basis
This is a tough habit to crack, but I've weaned myself down to about once a week (when we have a mortgage payment and invest excess cash). It's nice to see the numbers move, but it's become somewhat like watching paint dry. What's the point? The paint is going to dry whether or not I'm watching it.
I'm pretty miserable at work
Things are getting boring/stagnant in my job. They may pick up by fall, but right now there is a lot of waiting involved (I work in IT for a the Canadian Gov't). If I weren't on track for FI so soon I might take a risk and switch jobs, but this job has so many fringe benefits it would be tough to walk away from.
Exercising helps
The work gym at lunch, Yoga at home in the evening, commuting by bike. The more I do these things the better I feel. It's incredible how direct the relationship is between exercise and happiness.
Could not agree more about exercising, about to go on a run before work!
I need to get better at not watching my NW like a hawk. Very tough habit to break. I will think about it like paint drying, love the metaphor, that is a great way to frame it.
Work is tough. I have a great job that I've enjoyed. It's just been 20 years of similar work now, I feel like a hamster on the wheel. I have nothing to complain about, other than I am very much ready to do something else but have to keep going that last bit. It helps to remind myself why I decided to target the number I'm targeting, but it's still tough sometimes.
Post by: meadow lark on May 01, 2016, 08:03:02 AM
My plan is to hit a million in net worth at the end of 2018. Then both my wife and I to go PRN and cut our hours way down. We can stay employed as long as we work 12 days a year. The goal for the first 1-2 years will be to make enough money to live on without dipping into the savings. So around $40k. Give our money some time to grow (hopefully!). Then retire sometime in 2020.
The plan is influenced by us having 3 big/medium dogs we love. We are hoping to move into an RV when we retire, and don't want 3 dogs moving with us. We may still do it with 1 or 2. But as long as we stay in our house, it is reasonable for us to work a little.
Post by: powersuitrecall on May 01, 2016, 08:29:46 AM
I'm holding on... Very tired of working. I have already started optimizing the job - I work 3 days a wk (8hr days.). Wonderful co-workers. Meaningful work that helps others. Lovely boss with a great office culture. I hate it. I know! What the hell is wrong with me? DW works full-time.Meadow that sounds like a great way to ease into it. Knowing that you can easily jump back into the workforce is really nice.
My plan is to hit a million in net worth at the end of 2018. Then both my wife and I to go PRN and cut our hours way down. We can stay employed as long as we work 12 days a year. The goal for the first 1-2 years will be to make enough money to live on without dipping into the savings. So around $40k. Give our money some time to grow (hopefully!). Then retire sometime in 2020.
The plan is influenced by us having 3 big/medium dogs we love. We are hoping to move into an RV when we retire, and don't want 3 dogs moving with us. We may still do it with 1 or 2. But as long as we stay in our house, it is reasonable for us to work a little.
Post by: mlbfan07 on May 02, 2016, 07:15:16 PM
FI 2020
RE 2023
To be more specific - FI on 1/8/20. RE about 3 years later on 9/9/23. The day before I turn 50. (or to sound better - in my late 40's).
Looking forward to hanging with all of you for the next handful of years!
Post by: FIREby2021 on May 11, 2016, 07:21:04 PM
2021 is my namesake and comfortable target, but we are really shooting for 2020 as a stretch goal.
48 months left :-)
Maybe I'll do a journal or something, but glad to follow along with this cohort.
Post by: golfreak12 on May 18, 2016, 12:01:29 PM
I'm holding on... Very tired of working. I have already started optimizing the job - I work 3 days a wk (8hr days.). Wonderful co-workers. Meaningful work that helps others. I hate it. I know! What the hell is wrong with me?
This is me right here.
My original FIRE cohort was 2025 but I don't know if I can last that long. I was trying for another 10 yrs so I can have a small pension to go along with everything else but 10 yrs seems like an eternity.
In 2020, I'll be 50. A perfect age for FI and I can gradually work toward ER.
We're sitting at around $600K NW right now and if it grows to $800K by 2020, we would to good for 2020.
Another $200k can easily be done but my wife doesn't work right now and she's about to transfer to a state school where tuition will be double. She should be graduating 2018 so if she get a decent job after that, I can go into semi-ER.
YEAH, 2020 sounds a whole lot better than 2025.
Post by: FIREby2021 on June 02, 2016, 09:57:28 AM
OK - swinging for the fences here.
2021 is my namesake and comfortable target, but we are really shooting for 2020 as a stretch goal.
48 months left :-)
Maybe I'll do a journal or something, but glad to follow along with this cohort.
OK - 47 months to go, took another positive step:
Apr 2016: 57.7% to FI
May 2016: 58.5% to FI
* FI defined as 3% SWR and mortgage-free
Hope y'all have had a nice month!
Post by: fishnfool on June 02, 2016, 10:53:05 AM
Good health and happiness to all of you 2020 cohorts!
Aloha
Post by: BFGirl on June 02, 2016, 12:25:38 PM
Post by: FIREby2021 on June 03, 2016, 09:20:27 AM
BFGirl - 4.5, then 4 years, those mile markers will be behind you before you know it!
Post by: Maenad on June 04, 2016, 07:07:53 AM
The last year has been discouraging with the stagnant S&P, since that's where most of our stash is, but we've been focusing on what we can control rather than what we can't. I've heard the suggestion to track progress by number of shares rather than their value, if frustration sets in. Not a bad idea!
Post by: deeshen13 on June 04, 2016, 02:28:59 PM
We're aiming for 2020 as well - me in April, DH in July after we each get our bonuses. FI should be in 2019, then a year of saving for possible multi-month trip to Europe, a camper if we feel like taking up road-tripping at some point in ER, and re-siding the house.
The last year has been discouraging with the stagnant S&P, since that's where most of our stash is, but we've been focusing on what we can control rather than what we can't. I've heard the suggestion to track progress by number of shares rather than their value, if frustration sets in. Not a bad idea!
The S&P500 total return YTD is 3.71%. Compounded over 12 months, that's an annualized return of 8.90%. That's barely off the historical nominal return, and if we can get it going forward - given higher valuations and lower growth - we should be fist pumping!
It sometimes feels like it's stagnating because the market just bounces around, up and down each day, but the numbers don't lie. Additionally, fixed income is up roughly the same or higher, as well. You can't expect to get rich quick, but you can expect to build wealth slow! :)
Happy investing and saving all. Oh, incidentally and apropos to my first post in this thread - I'm on the 2020 FIRE train too, just as I hit 30!
Post by: RedefinedHappiness on June 05, 2016, 09:29:24 AM
[/quote]
Happy investing and saving all. Oh, incidentally and apropos to my first post in this thread - I'm on the 2020 FIRE train too, just as I hit 30!
[/quote]
Wow! At 30 that is impressive. Probably also tough to plan for your future cash needs at such a young age?
Post by: deeshen13 on June 05, 2016, 11:02:06 AM
Edit: Basically I'm fine with just putting myself in a good position and then being dynamic/flexible to roll with the tide given the unknowns.
Post by: RedefinedHappiness on June 05, 2016, 12:01:52 PM
Thanks! Yes, tons of unknowns and to be honest it's more of an FI than RE, and more of a barebones than complete cash flow coverage. Nonetheless, the option to RV for a few years or backpack around before life gets too serious is very motivating. I could definitely see doing that for a bit and then rejoining the workforce. Or not of course :)
Edit: Basically I'm fine with just putting myself in a good position and then being dynamic/flexible to roll with the tide given the unknowns.
Makes sense. I was curious because I have been thinking about the uncertainty as I plan for 2020. But I'm 11 years older than you. Sounds like you have the right approach. Flexibility that FI brings opens up a lot of options.
Post by: FIREby2021 on July 01, 2016, 10:44:26 AM
Another notch down - 46 months to go!
Apr 2016: 57.7% to FI
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
* FI defined as 3% SWR and mortgage-free
A great 4th of July weekend to all!
Post by: Half Stached on July 02, 2016, 11:37:50 AM
I've been lurking for a year... and it's been inspiring seeing everyone on this journey. We're looking at a FIRE date of April 2020, with a stretch goal of 2019. Over the past year we've gone from 41.6% to 53.7% of our FI target.
Post by: sidestache on July 04, 2016, 04:13:19 AM
2016 has been my best year so far on this mission and in 2020 I'll be turning the big 4-0...so seems like a great time to get away from the cubicle and out away for more adventures in life. Numbers wise the end of 2019 is currently looking very doable! :)
Post by: HappyMargo on July 09, 2016, 04:10:55 PM
-- Still on schedule for 2020 FIRE.
Mortgage will be paid off & we should have reached 4% SWR in savings.
-- In fact, when I first signed up for Class of 2020, I plotted a graph of investment milestones to hit & we are actually ahead of that!
-- Over the past year, I've found even more ways to cut spending. It feels like it's getting *easier* or *more natural* the longer I flex my Frugal Muscles.
Hubby is still quite a spendy-pants by MMM standards, but is doing much better than the typical American consumer. I keep working on him, but he has his limits.
-- my 16 year old VW Jetta station wagon is still going strong, looks great & I keep miles low by doing all my errands by bike!
-- 50% of work days, I now commute by bike to work. I'm getting in better shape & makes for fun conversations with bike-happy co-workers.
-- I now have just 1,536 days till FIRE.
Or if I remove weekends & other days off, 878 working days till FIRE!
Post by: markbike528CBX on July 09, 2016, 05:14:19 PM
-- . It feels like it's getting *easier* or *more natural* the longer I flex my Frugal Muscles.
Shouldn't it be "my Frugal MusclesTM "? :-)
I'm posting as my date is 12/29/19, which is close enough, and depending on Semi-Big corp bureaucracy, might be 2020.
Also, this thread is a lot peppier than 2019.
Post by: HappyMargo on July 10, 2016, 06:00:45 AM
And, please people, no face-punches for *only* bike commuting to work 50% of the time...it's FAR!
Round trip is 26 miles (42 km) and I'm just not in good enough shape to do it every day. But I'm improving all the time. (And still take my dog running on the other days.)
Also, some days I have to leave the house by 4:45 AM & ride in the dark. I have a headlight & taillights, but my husband hates when I do this. He's always afraid some texting/ snap-chatting/ instagramming driver is gonna take me out in the dark. So I try to ride every day that my first assignment is after sun rise!
(I'm thinking major snow-falls may be a detriment come winter time too. But we'll see!)
Post by: Trudie on July 11, 2016, 01:26:03 PM
I realize the challenges with #2 -- especially since he is in a specialized field -- but I'm encouraging flexibility at this point. I wouldn't call this "OMY" syndrome at all. Many people at the end of their careers want to go out doing something they care about. Something they know they can make a mark in. If this makes a person feel more self-actualized, or happier... I get it. I think if he feels he puttered to the finish line he'll have a harder adjustment to retired life. He still has passion and energy for his field, I just think he might be better off somewhere else.
I think it would be easy for us to match or improve our salaries elsewhere, and I am not even horribly concerned about some short term "blips" in retirement saving. We've read enough, have super-frugality skills, and could even downsize to a less costly house or condo, most likely (these are things we've wanted to do anyway.) Also, we'd long ago decided that we didn't want to stay where we're at in FIRE. So, we may no longer be in the 2020 cohort... on paper we are, but in practice we may go a couple of years longer.
Post by: TheContinentalOp on July 14, 2016, 07:17:16 AM
Post by: HappyMargo on July 15, 2016, 05:14:42 AM
-- I now have just 1,536 days till FIRE.
Or if I remove weekends & other days off, 878 working days till FIRE!
Or another way to look at it... 109 paychecks left!
Post by: FancyNest on July 15, 2016, 02:20:24 PM
Sharing some of my personal developments over the past year:
• I got fired.
Getting downsized from my previous corporate IT job at a national retailer and starting my own
consulting business resulted from the change – it’s essentially the same work, a few more working hours
a week, but for 50%
more pay (and getting paid hourly!). Office is now a 10 minute bike ride away – since we don’t even
come close to living paycheck to paycheck the uneven paychecks don’t really matter, neither does taking
a few months between assignments – hasn't happen yet, but if it does - surprise vacation!
o Wife carrying health insurance makes this possible (now would be a good time to recognize to
her and anyone listening that she’s awesome)
• Realizing I have FU money – I cannot even begin to tell you how much easier it makes life knowing that we *could* survive for years happily on my wife’s salary alone with the 4% of our current stash.
o Work has become less clang and clatter and is now a more considered experience. My current client
asked me to travel 50% of the time, I told them it sounded fun, but I wouldn’t be able to. Did they
still want my services? Yes, they said they could make an exception and let me work from a work
location within biking distance. FU money and the position of strength.
• Health has improved
o Went from car commuting 43 miles in a day to bike commuting 6 miles per day, including taking
both kiddos to school in the double bike trailer of the gods that we were able to buy after selling our
second car
o Less sitting on my butt has certainly made a difference, as has less traffic angst
o At my last physical, I was down to 202 from 211, my resting heart rate and blood pressure were
both down
o Our new place has a gym and there’s a constant stream of runners going past our place gently peer
pressuring us to get out and enjoy the neighborhood with a run
• Moved Houses
o Proximity - Now we’re across the river from my downtown employer and so much closer to wife’s
work and kids daycare – we spent months of conversation determining whether it was a good idea to
sell our house of 7 years and move to a rental that basically triangulated equidistant trips for each
of our work/daycare trips – fantastic move so far.
o Selling the house - Lots of effort to de-clutter and move houses/prep for sale and work full time with
full time kid responsibilities but since we didn’t have tv to get in the way, I really wasn’t using those
hours between our kid’s bedtime and midnight anyway – so I got to work – we are closing next
Tuesday – bought the place for 119k as a foreclosure, DIY rehab, selling for 268k after ~90k in
renovations. So not a home run, but definitely a wealth builder and wonderful learning opportunity
as I ended up doing almost everything except for the roof and building the new kitchen cabinets with
my wife and family member who were game to use power tools.
o Renting - We basically did exactly the approach that MMM wrote about when he talked about the
2,300/mo apartment in downtown Toronto that is actually a better deal lifestyle and hidden cost-
wise than a suburban home http://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/ (http://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/)
o Similar costs – our monthly housing payment did go up about 50%, which has been offset by
dropping down to one car and not paying for parking anymore at my wife’s work. She even got a
sweet new hybrid bike for hauling the kiddos and making her commute – I still happily rock my
Orange 1980’s steel frame.
o Hidden benefits – we aren’t sure where the kids should go to school, so renting buys us time and
flexibility to determine which neighborhood to move into and set down roots, without having any
artificial deadlines or long lead times weighing down our next move – there’s a comfort in knowing
we can drop our rental with 30 days’ notice. Now, if only we can find time to clean out the closets
that are of course still a mess after moving in and getting settled – one thing at a time. We would
never have freed up enough mental space to work through the public school lottery system and all of
its byzantine ins and outs and find a “forever” home in our previous life situation.
I feel good about my current situation and more confident than ever that 2020 is my FIRE date. Balancing this is that selling a house and moving a family is emotionally hard - getting laid off is, too. Can't wait to FIRE myself and get down to the business of fundamentally improving the energy efficiency, convenience, safety and security of homes using emerging materials and technology - only a few more years left to dial that idea in and take some test runs.
Wishing you continued success and at least one more good equity buying opportunity before we hang them up in 3.5-4.5 years!
Post by: Trudie on July 15, 2016, 02:34:31 PM
Post by: FIREby2021 on July 31, 2016, 09:22:07 PM
We are starting to put thoughts together around selling the house & moving to a rental scenario for 2017.
Still ahead of schedule and the countdown is now @ 45 months to go! Hope y'all are surviving the summer HEAT!
Apr 2016: 57.7% to FI
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
* FI defined as 3% SWR and mortgage-free
Post by: FrugalFarmer on August 05, 2016, 12:11:19 PM
Post by: dreams_and_discoveries on August 09, 2016, 10:46:02 AM
This could be possible, especially if I do something like TEFL for a year and don't need money to live on....
Post by: FIREby2021 on September 01, 2016, 09:49:24 AM
We are still ahead of our initial 2021 "schedule", and continue adding fuel (savings) to the "fire" :-) Market outlook is a shallow September pullback followed by continuation higher through EOY. Possible shift to a temporary defensive posture heading into 1Q-2017 depending on how that unfolds.
Still thinking over the proposition of selling the house & moving to a rental for 2017. Countdown shows 44 months to go!
Apr 2016: 57.7% to FI
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
* FI defined as 3% SWR and mortgage-free
Post by: Rubyvroom on September 01, 2016, 01:08:57 PM
My husband is getting so exhausted with work. It completely drains him. He swears he would love to retire early, but still buys one $2 lottery ticket each week and says my early retirement books and ideas “sound good on paper.” I don’t think he quite believes retiring early is possible. I told him he’s underestimating my ninja spreadsheet skills and we’ll see which method wins… lotto or FIRE. For $104 a year though I stopped short of asking him to stop wasting money on tickets… choose your battles and all that.
I am still aggressively shooting for 2020. It might be a stretch goal, but I know I can find more in groceries, restaurants/eating out, and gifts. I still have a few thousand dollars budgeted for a vacation each year that I personally would do without just to shave time off, but I don’t want to make the hubby feel deprived. We’re in this together man, I can’t have him burning out on me.
I budgeted a few thousand a year to cover home/car maintenance/projects. Those are hard to forecast but I’m hoping we can come in lower than that on average. I’ve biked to work 3 times so far, 15 miles round trip – I think I can pull it off on a fairly regular basis, excluding maybe the worst days of our Minnesota winters, so that will help with auto/gas/fitness costs. I also stopped drinking booze after a come to Jesus moment after tracking and reviewing how much I was spending. I will lead by example right now, eliminate the excess for my wallet and my health, and will merely plan to buy a mighty fine bottle of wine to celebrate on my last day of working for someone else...
Overall, I think my forecast is conservative, so I truly believe we can hit 2020 with a bit of diligence on our part. 2020 is a nice round number of a year. My husband will be 40, I’ll be turning 39. I think there is quite a psychological benefit to say we retired “by 40,” so that’s the goal, spreadsheet be damned. I think I left us enough room to maneuver.
Post by: BFGirl on September 01, 2016, 02:37:47 PM
However, there is a possiblity that I may switch fields completely but still stay within my government entity. If that happens, I think I will be much more satisfied and engaged at work, so I might even stay longer :)
If the new job doesn't happen, I'm outta here at the end of 2020!
Post by: dreams_and_discoveries on September 03, 2016, 05:35:15 AM
I will be honest that my FIRE/YMOYL spreadsheet shows May 2021 as our FIRE date. I do not accept that! Ha! We’re nearing a 50% savings rate but I’m convinced we still have more fat to trim.
Me too.....I do have load of fat I could trim, and it should be Feb 2021, but I'm sure I can make August 2020. And I think after 2 years travelling, I might even not mind picking up another contract and doing OMY as a back up plan.
Post by: Maurits28 on September 15, 2016, 01:46:09 PM
Currently we can stash fast, 2016 we aim on a NW increase of $ 120K. Unfortunately I might loose my current high paying job, next months should give more clarity and that will definitely influence the FI date. In terms of spending, so far there is quite some fat on the bones, as of 2017 we will start saving more, making a groceries budget, maybe skipping big intercontinental holidays (in one month we go for two weeks to Japan on holidays!!) etc.
Not planning to RE, however not working for a slave corporate job anymore for sure. But self-employed consultancy, entrepreneuring etc.
Love to read about everybody's personal plans, challenges, ideas, achievements. Very inspiring, and most of the time 10x more badass than what we are trying to achieve so far. Our muscles need to be trained a bit more..
Post by: zoomzip on September 16, 2016, 02:33:15 PM
I am pretty impatient at this point - its hard to focus and stay ambitious at work.
Post by: Rubyvroom on September 16, 2016, 05:58:24 PM
...its hard to focus and stay ambitious at work.
This. So much this. I am having that same problem.
The part in YMOYL where it said you will like your job more and want to work harder now that you realize you're only stuck there for a limited amount of time... I call bs to that haha. Some days are better than others I suppose.
Post by: FIRE 20/20 on September 17, 2016, 07:56:30 AM
My GF and I are aiming to retire at age 45, which will be 2021. While the details are different, we're in the same position as TheContinentalOp. We could survive if we both quit today, but we'd need to severely scale back on everything except basic living expenses. In 2-3 years we could travel, participate in our (not cheap) hobbies, and maintain our charitable contributions at a moderate level. Hopefully if all goes well, in 2020 we'll be able to do almost everything we enjoy at just below a 4% withdrawal rate.
I know I'm going to really struggle with OMY syndrome. We both work in a field in which it's critically important to be very up to date on the current technologies, certifications, and processes. Once we quit, we won't be able to earn very much in our chosen careers, and we don't have any experience with other kinds of work. When we're done, we're done, so we will probably have a larger buffer than most here.
Wow - 15 months have passed since I wrote this post. Lots of things have changed in our lives, but we're still basically on track. We purchased a house for my mom to live in nearby. This could be a long story, but in short she was in a horrible location far from family and didn't have the resources to get herself out. It caused a financial hit to us in the short term, but over the past year we've helped her get her finances in order and once she's on her feet she'll be able to support herself. She should be in a very good place financially in about 1 year, and now she's close to family and much happier. It was definitely the right decision even with the monetary impact.
Even with that, our invested assets and net worth increased $120k over those 15 months. Some of that was growth and some was contributions; I don't know what the portion was of each. I could figure it out, but I don't really care. Whatever the ratio is we're still on track.
And I still know I'm going to be in a OMY mindset. As I mentioned before, once we quit it will be very hard for us to go back to the only career either of us has known so we're going to make sure we have no need for any kind of income once we're finished.
Post by: Livewell on September 23, 2016, 01:12:52 PM
still cranking away - our goal is to get to a comfortable number sometime in 2020, just in time to send our youngest off to Kindergarden (no more preschool checks, our #1 expense!).
Since I last wrote, we've gotten through the "we could sell and move to a LCOL and FIRE" barrier, and just passed 75% of our end target (defined as 4% SWR of last three year average spending). Savings rate this year will dip a bit to 65% of take home, needed to do some one time work on the house and the wife needed a minivan for the little ones. Looking to be a strong finish, especially if we see an upswing in the market (not that I'm timing). My wife, currently a stay at home mom with our youngest, may go back to work next year as well, part time, which would help however it's great not feeling the pressure to get her back into the work force.
Toughest part is still knowing it's close yet a few years off. I have a lot of flexibility in my job and finding I'm using more of that (as long as the numbers are good, which they are). I have to watch myself being a bit too honest in my responses to my boss. I've struggled a bit with just wanting to get it all over with and move on, focused a lot on articles and stories and posts about just relaxing a bit and being ok with the ride - it's important to put in context that while my goal is to leave the full time work world far after what most of the folks on this web site are, I'm still talking about doing it in my mid-40s, in good health, and most of the work has already been done. Very important at this stage I think to enjoy the end of the ride, my metaphor is that last couple miles of a (half in my case) marathon where you know what your time is more or less going to be and you can just let it all go as you roll towards the finish.
Hope everyone else is doing good out there!
Post by: DailyGrindFree on September 24, 2016, 01:16:48 PM
Here is where we stand as of today: http://www.dailygrindfree.com/net-worth/ (http://www.dailygrindfree.com/net-worth/) .
Post by: Livewell on September 30, 2016, 03:24:31 PM
ran into this "glide path" post and thought I'd link to it in case you all missed it.
I've been trying to come up with a plan for post-FIRE money management, one where I could just put it to bed and get to the real stuff. I think this is a great concept for that.
http://forum.mrmoneymustache.com/post-fire/using-the-rising-equity-glidepath-to-reduce-sequence-of-returns-risk/
Post by: Half Stached on October 01, 2016, 12:27:55 PM
Hello, everyone!
I've been lurking for a year... and it's been inspiring seeing everyone on this journey. We're looking at a FIRE date of April 2020, with a stretch goal of 2019. Over the past year we've gone from 41.6% to 53.7% of our FI target.
It's been a good quarter! We've eliminated over 35K of expected short term expenses (over the next four years) and improved our FIRE modeling which happened to bring our target number down. We've also made minor improvements to our long term spending. Between all this we're now looking at a target of April 2019, with a fallback plan of April 2020 (April is the month due to my annual bonus payout). We're sitting at 60.7% of our updated FI target. Getting closer...
Post by: FrugalFarmer on October 05, 2016, 08:46:41 AM
Post by: Exhale on October 06, 2016, 08:33:17 AM
My FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles. Current prediction is January 2020. I'll be 36. Loving my growing independence, both financial and otherwise. My cube job feels like water torture sometimes, but it is powering me forward. DH is learning to install solar panels so we can become energy independent next month. DIY installation is about a 50% savings over paying someone to install the panels! We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well. DH is not trying to FIRE, but he is becoming very supportive of my savings efforts.
This sounds interesting. Could you explain what it is and/or what foods you have in your forest?
Post by: FrugalFarmer on October 06, 2016, 08:54:39 AM
My FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles. Current prediction is January 2020. I'll be 36. Loving my growing independence, both financial and otherwise. My cube job feels like water torture sometimes, but it is powering me forward. DH is learning to install solar panels so we can become energy independent next month. DIY installation is about a 50% savings over paying someone to install the panels! We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well. DH is not trying to FIRE, but he is becoming very supportive of my savings efforts.
This sounds interesting. Could you explain what it is and/or what foods you have in your forest?
Sure! Permaculture farming is based on the idea of designing a mostly self-sustaining food production ecosystem where every element supports the needs of some other element in the system. A classic example would be the "three sisters" farming system developed by the native Americans. Corn, beans, and squash are planted together so that corn provides a natural trellis for the bean, bean provides nitrogen for corn and squash, and squash provides natural mulch for the corn and bean. Permaculture also makes use of a lot of permanent crops like fruit and nut trees. I am just getting started, so I don't have much growing yet. I do have mulberries, blackberries, raspberries, walnuts, and hickory nuts thanks to a previous owner. I'll be adding lots of native fruit and nut trees like pawpaw, persimmon, pecan, and other low-maintenance permanent edibles such as hardy kiwi, currant, American grape, medlar, etc. I'll be including chickens and honeybees next year, and eventually sheep. I have a blog if you care to check it out further! http://strawberrymoonfarm.com
Post by: robtown on October 07, 2016, 01:18:56 PM
If I continued until 2023 we'd have much more money but I am tired and ready to quit today. Perhaps I'll find another job that is more satisfying and easier to handle for 3 and a half more years. I may try to go part time in 2020, or even earlier, since having more free time would be very refreshing.
Post by: Exhale on October 07, 2016, 02:28:23 PM
Sure! Permaculture farming is based on the idea of designing a mostly self-sustaining food production ecosystem where every element supports the needs of some other element in the system. A classic example would be the "three sisters" farming system developed by the native Americans. Corn, beans, and squash are planted together so that corn provides a natural trellis for the bean, bean provides nitrogen for corn and squash, and squash provides natural mulch for the corn and bean. Permaculture also makes use of a lot of permanent crops like fruit and nut trees. I am just getting started, so I don't have much growing yet. I do have mulberries, blackberries, raspberries, walnuts, and hickory nuts thanks to a previous owner. I'll be adding lots of native fruit and nut trees like pawpaw, persimmon, pecan, and other low-maintenance permanent edibles such as hardy kiwi, currant, American grape, medlar, etc. I'll be including chickens and honeybees next year, and eventually sheep. I have a blog if you care to check it out further! http://strawberrymoonfarm.comMy FIRE forecast date is steadily creeping forward as I continue to reduce my expenses and expand my side hustles. Current prediction is January 2020. I'll be 36. Loving my growing independence, both financial and otherwise. My cube job feels like water torture sometimes, but it is powering me forward. DH is learning to install solar panels so we can become energy independent next month. DIY installation is about a 50% savings over paying someone to install the panels! We already use a private well and septic, and I am building up our permaculture "food forest" farm with the goal of being mostly food independent as well. DH is not trying to FIRE, but he is becoming very supportive of my savings efforts.
This sounds interesting. Could you explain what it is and/or what foods you have in your forest?
Thank you - on my way over to your blog!
Post by: FIREby2021 on October 09, 2016, 11:17:05 AM
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
* FI defined as 3% SWR and mortgage-free
Post by: Rubyvroom on October 10, 2016, 12:46:27 PM
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
* FI defined as 3% SWR and mortgage-free
I like your way of looking at this. You are making great progress!
I pulled a similar % into my tracking spreadsheet. We are much farther behind you %-wise but we're on a good trajectory, and I've been making some pretty significant spending cuts recently. I still see between May and October 2021 in my spreadsheet but I'm not giving up hope on 2020! You gotta have stretch goals... :)
Jan 14.6%
Feb 15.2%
Mar 16.6%
Apr 17.4%
May 18.1%
Jun 18.5%
Jul 19.6%
Aug 20.2%
Sep 21.2%
** Percents above represent percent of net worth required to FIRE at estimated future spending at 4% WD rate. Net worth does not include equity in two vehicles or house. Estimated future spending assumes we do not change our living situation and continue to pay our current mortgage.
Post by: FIREby2021 on October 12, 2016, 06:56:56 AM
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
* FI defined as 3% SWR and mortgage-free
I like your way of looking at this. You are making great progress!
I pulled a similar % into my tracking spreadsheet. We are much farther behind you %-wise but we're on a good trajectory, and I've been making some pretty significant spending cuts recently. I still see between May and October 2021 in my spreadsheet but I'm not giving up hope on 2020! You gotta have stretch goals... :)
Jan 14.6%
Feb 15.2%
Mar 16.6%
Apr 17.4%
May 18.1%
Jun 18.5%
Jul 19.6%
Aug 20.2%
Sep 21.2%
** Percents above represent percent of net worth required to FIRE at estimated future spending at 4% WD rate. Net worth does not include equity in two vehicles or house. Estimated future spending assumes we do not change our living situation and continue to pay our current mortgage.
Thanks, Rubyvroom. I oscillate back and forth whether monthly checks are important, but dang it I like updating my "countdown" number monthly instead of quarterly (illusion of progress!?) :-)
We started out with a plan centered on 2021, however current sweet-spot and stretch goal appears to be around 01-May-2020, so only 43 months to go! Next month I can say 3.5 years left! :-) At ages 37 & 38, we are ever so slightly ahead of our initial schedule, with current focus on keeping our savings rate >60% (if not closer to 70%). Our biggest near-term financial decision (2017) is likely around deciding to sell our HCOL home vs. renting.
FIREby2021
Post by: powersuitrecall on October 12, 2016, 07:11:27 AM
Another month in the books, slow steady progress continues. FWIW, our ideal target is May-2020, after revising early this year from a 2021 estimate. Just back from a wonderful vacation week up in WA state and feeling refreshed. Thanks for your blog link FrugalFarmer ... we enjoy gardening and are always looking for ways to "grow" :-)
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
* FI defined as 3% SWR and mortgage-free
We are posting similar progress, FIREby2021.
2009-01 22.9%
2010-01 25.7%
2011-01 24.2%
2012-01 27.7%
2013-01 31.5%
2014-01 35.8%
2015-01 41.5%
2016-01 49.4%
2016-10 61.6%
For a while, I had been neglecting to take into account taxes to determine our FIRE date, but have recently updated our mega spreadsheet. I had originally guessed early 2020 as our FIRE date, but after crunching the numbers it's looking more like mid-late 2020.
Details in my journal: http://forum.mrmoneymustache.com/journals/a-nice-dream/msg1247994/#msg1247994
Post by: onlykelsey on October 12, 2016, 07:15:11 AM
Realistically I'd probably shift to something project-based or part-time before I hit 1.25 mn or pulled the plug, and who knows what the kid I'm expecting in two months will do to this plan, but it's an interesting way to track.
Post by: Rubyvroom on October 12, 2016, 09:42:16 AM
I have a reason for not wanting to set our goal date in 2021. We've been on a perpetual "5-year plan" for various reasons for pretty much our entire adult life. 2021 would put us on yet another dreaded "5-year plan." I say it's time to wind down this stupid 5-year plan, so 2020 is the stretch goal.
In other news, a cousin of mine perked up when my husband mentioned something about index funds at a family birthday dinner. She was like, oh what do you guys know about investing? We didn't want to get too into it because we haven't yet "come out" to our parents that we intend to withdraw from conventional working life, but we mentioned a few key points and told her there were a few really good blogs we could send her. When I sent her MMM later that night she said oh yeah, we're avid readers of MMM. NO WAY! I found a Mustachian in our family... who knew. Ha. Apparently she has a grand exit plan as well. It was a pretty funny family-dinner-revelation. Maybe I can get her on the 2020 trajectory as well!
Post by: powersuitrecall on October 12, 2016, 09:52:11 AM
In other news, a cousin of mine perked up when my husband mentioned something about index funds at a family birthday dinner. She was like, oh what do you guys know about investing? We didn't want to get too into it because we haven't yet "come out" to our parents that we intend to withdraw from conventional working life, but we mentioned a few key points and told her there were a few really good blogs we could send her. When I sent her MMM later that night she said oh yeah, we're avid readers of MMM. NO WAY! I found a Mustachian in our family... who knew. Ha. Apparently she has a grand exit plan as well. It was a pretty funny family-dinner-revelation. Maybe I can get her on the 2020 trajectory as well!
I'm envious :)
I recently "came out" to my parents. We were actually talking about 5 year plans in the context of what to do with their cottage (TLDR version is that they are getting older and are finding it difficult to keep up along with their home). In the midst of the discussion I let out our FIRE plan (the lite version). They were not surprised at all and were encouraging. It's nice to have support from family!
Post by: Faraday on October 24, 2016, 10:20:29 PM
There have been layoffs at my place of employment. Here's how it would play out for me:
If I were laid off tomorrow:
Goal:Immediately refi the house.
Result: I could leisurely find that next job. It would not have to pay as much as current job.
In another 2-2.5 years:
Goal: House paid off.
Result: I could be FIRE but be on the poorer end of things. I would need a side gig and it would need to be cash flow positive.
In another 5 years:
Goal: House long since paid off. Solar PV and Solar hot water installed and working. Own and drive an EV.
Result: I could be FIRE and be very comfortable. Side gig would not have to make money.
A wave of layoffs came right after that posting and another wave at the end of April 2016. When I posted in November 2016, I started my search for my Next Great Thing and was successful at finding it. Turns out I timed it extremely well and the job change worked like a CHAMP. I love the work, I've got a super-cool boss and pretty good co-workers. I'm learning a lot and having fun and still increasing the 'stache, so all's good.
The goals stated are still in place, still viable. I've been reading other threads and it looks like I'm like a lot of folks here who want solar panels and an EV to make their FIRE life far more efficient.
I actually DID NOT have to refi the house. Turns out I found out about "recasting" a loan. It's a great option if you are paying down the principal ahead of time. I can recast once in the life of the loan and have retained that as a safety valve should it be needed. My mortgage would be cut in half or less if I had to recast.
Calculated FIRE date is July 2018 but we estimate it will take me to 2020 to pay off the house, so I'm still sticking with the 2020 FIRE cohort. I'm guessing we'll have the house done by July 2020 or so.
Side Note: I love interviewing, so I'm all about changing jobs. I'm still networking even though I'm at the Next Great Thing and have no (current) plans to leave.
Post by: FIREby2021 on November 01, 2016, 09:39:37 AM
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
Oct 2016: 61.6% to FI
* FI defined as 3% SWR and mortgage-free
Post by: 6-Saturdays on November 03, 2016, 12:42:52 PM
The current plan is to move to a LCOL country for a few years to let the $tash grow (projecting a less than 3% withdraw rate initially). We are currently looking at Mexico. Plan to rent for the first year or two to make sure we like the fit. After that we may buy a place. The only downside is that a house purchase in Mexico is all cash up-front (i.e. no loans) so we need to save up enough for the purchase on top of are $tash.
Just checked the countdown app on my phone and we are at 1198 days and 856 weekdays to FI(+)!!!
Post by: FIREby2021 on November 11, 2016, 11:45:02 AM
Sort of a mini-milestone, our countdown now sits @ 42 months to go, which is 3.5 years! Yeah, maybe not THAT big of a deal but something ... anyway, slow steady progress continues. Energy holdings took an end-of-month hit which depressed the progress on an otherwise positive month. It will be interesting to see what effect the election cycle result will have on the markets. Certainly will give the markets a reason to break free from the current trading range (up or down after that, nobody knows). Our savings rate for 2016 is right around 67% of net income, which means after charitable giving our all-in expenses are 22% of net income :-) Lately we've been having fun planting / maintaining our urban garden and enjoying a break from the TX summer heat with some family.
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
Oct 2016: 61.6% to FI
* FI defined as 3% SWR and mortgage-free
I have to admit, I am doing some soul-searching regarding the "conservatism" within our definition of FI above. It was developed in mid-2015, with the following conservative bases:
1) Annual expenses assumed at $10k above current high-side (given future health care uncertainty, god-parent possible responsibility, flexibility, etc.)
2) Mortgage Free --> underlying assumption is that we'd outright own our LCOL property, above & beyond the invested nut amount
3) SWR of 3% instead of 3.5% (I do not feel comfortable with 4%)
4) 2Q-2020 would put us at age 41; at age 65 we project drawing a pension (non-CPI adjusted) that would (in today dollars) cover the high-side monthly expenses. I have also excluded any future SS or inheritance (slight to modest) impacts.
So I want to revisit this heading into EOY, as it has now been our first full year of tracking this stuff. I also want to investigate our true variable-SWR road map over the years. There are side-gigs that we have great skill and interest in as well, that will likely be part of our ER years. I wanted to share the soul-searching here as accountability to keep investigating it, and to fully understand the pros/cons of what could project to be an extra 12-18 months of possible OMY syndrome we are currently on track for. We still have the possible sale of our HCOL home as a possible 2017 goal.
Thanks for reading.
FIREby2021
Post by: powersuitrecall on November 14, 2016, 08:26:28 AM
I have to admit, I am doing some soul-searching regarding the "conservatism" within our definition of FI above. It was developed in mid-2015, with the following conservative bases:
1) Annual expenses assumed at $10k above current high-side (given future health care uncertainty, god-parent possible responsibility, flexibility, etc.)
2) Mortgage Free --> underlying assumption is that we'd outright own our LCOL property, above & beyond the invested nut amount
3) SWR of 3% instead of 3.5% (I do not feel comfortable with 4%)
4) 2Q-2020 would put us at age 41; at age 65 we project drawing a pension (non-CPI adjusted) that would (in today dollars) cover the high-side monthly expenses. I have also excluded any future SS or inheritance (slight to modest) impacts.
So I want to revisit this heading into EOY, as it has now been our first full year of tracking this stuff. I also want to investigate our true variable-SWR road map over the years. There are side-gigs that we have great skill and interest in as well, that will likely be part of our ER years. I wanted to share the soul-searching here as accountability to keep investigating it, and to fully understand the pros/cons of what could project to be an extra 12-18 months of possible OMY syndrome we are currently on track for. We still have the possible sale of our HCOL home as a possible 2017 goal.
Thanks for reading.
FIREby2021
Thanks for sharing FIREby2021. We do something similar. We assume:
- stash requirement sustains 4% after-tax withdrawal rate
- COL will be $10K above current (excluding mortgage payments and daycare costs)
- we do not include income tested gov't grants and credits (currently about $10K per year on our planned income)
- we do not include CPP (Canada's Social Security)
- we will own and not move from our MCOL home
- no inheritance (will likely be modest)
- no income from side gigs (or they are income neutral)
If we decided to ignore these assumptions, we could probably FIRE next year (or even now). It's entirely possible that we are now working just to end up with "too much money". But there are pretty compelling reasons for sticking it out: more security, the possibility of global travel, and general peace of mind.
Post by: FIREby2021 on December 01, 2016, 09:41:21 AM
The big financial accomplishment this month was setting up an i401k for my wife in our Vanguard account. I can't believe we hadn't done this in past years, but we plan to fully fund it ($18k) this month for 2016. Always learning. Next year we will plan better and also add the employer contributions on top of that amount. I plan on adding some color to our overall strategy / allocations / revisit assumptions with the next update @ EOY. I hope everyone is enjoying the start of the holiday season!
Apr 2016: 57.7% to FI *
May 2016: 58.5% to FI
Jun 2016: 61.1% to FI
Jul 2016: 60.6% to FI
Aug 2016: 60.7% to FI
Sep 2016: 61.2% to FI
Oct 2016: 61.6% to FI
Nov 2016: 64.0% to FI
* FI defined as 3% SWR and mortgage-free
Post by: Rubyvroom on December 19, 2016, 01:40:47 PM
Jan 14.6%
Feb 15.2%
Mar 16.6%
Apr 17.4%
May 18.1%
Jun 18.5%
Jul 19.6%
Aug 20.2%
Sep 21.2%
Oct 22.4%
Nov 23.9%
Dec.... TBD - probably in the 25% ballpark
** Amounts above represent percent of net worth required to FIRE at estimated future spending at 4% WD rate, excluding equity in home and one vehicle.
I'm forecasting that we'll somehow have managed to eek out a 53% savings rate for the year, after finding MMM in late spring/early summer. I would have been happy with anything over 50% with this only being a partial year of deliberate expense reductions. I'm hoping for over 60% in 2017 to stay on track for 2020/2021.
So in this dull work moment, doing some quick math on how plausible a 2020 date still is, it looks like we might be able to pull off October 30, 2020 (if all my assumptions on savings rate and interest rates are correct - obviously that's a BIG "if" this early on). Based on what we will have saved in our taxable accounts, that is probably the earliest we could FIRE and still have 5 years of living expenses (plus one year E-fund) to hold us off before our pipeline money kicks in. Odds are however, we may "OMY" for ~7 months until June 11, 2021 to get our bonus and 401K match payouts, and build a healthy cushion for peace of mind.
How is everyone else doing now with the end of the year in sight? Any exciting news or disappointments? Any goals for next year?
Post by: desk_jockey on December 20, 2016, 09:13:09 PM
How is everyone else doing now with the end of the year in sight? Any exciting news or disappointments? Any goals for next year?
Checking-in about 18 months after my previous post on this thread. I’m still tracking with no issues for mid-2020 FIRE option with a withdrawal rate closer to 3.5% than 4.0%. My portfolio growth rate has been a little under projections for the past 2 years but my savings rate has been higher so it’s all close enough for the purposes of my projections.
My real focus has been end-2018 when we will be in position for my spouse to retire. Once she can take leave and our life is less hectic, then I’ll reevaluate my RE part of our FIRE. I think that I’d like to stay engaged in some way, but need to sort out how. That might mean taking a couple years off starting 2020 then doing some select part-time contract work later, or it could be continuing a few more years in full-SWAMI mode. I’m just excited about the possibilities that start opening-up after these next 2 years as we approach 4% and she finishes some milestones and obligations.
Post by: onlykelsey on December 23, 2016, 07:52:40 AM
I'm mostly joining to follow. I think I could be anything from barebones FI Class of 2018 or full retirement with higher annual expenses Class of 2024, so I'm starting here. NW is currently ~320K, will be adding ~100K/year the next two years, then eventually moving out of Manhattan for somewhere with a lower cost of living.
I'll be 33 in 2020.
Revisiting this post. It hasn't been quite a year, and I haven't gotten my last 2016 paycheck, but I managed to jump from 320K to 500K since late last January when I made the post, so 2020 is looking pretty safe if I keep going full-steam ahead.
The wildcard is that I'm 39 weeks pregnant, and have no idea what a kid will do to my plans (except apparently cost me between 30 and 40K a year in daycare!). Glad I moved more quickly than I predicted in my first year of mustachianism, so I have a bit of padding.
Post by: ysette9 on December 23, 2016, 08:21:46 AM
Why do you project daycare will be that expensive? Even here in the middle of the peninsula of the Bay Area (the expensive part of a HCOL area) we found a wonderful in-home daycare that is $1400/month. The expensive daycares near Stanford run around $2k/month. Will you have multiple kids in daycare? I haven't run the numbers for myself, but I have been told by friends that by the time you reach two or more it often makes more financial sense to have a nanny.
Post by: onlykelsey on December 23, 2016, 09:01:53 AM
Congratulations on your pregnancy! Best of luck for delivering a happy and healthy baby. Definitely put the FIRE stuff on the back burner here for an it and give yourself the freedom to spend what you need to in order to stay sane for the next couple of months. A newborn is HARD!
Why do you project daycare will be that expensive? Even here in the middle of the peninsula of the Bay Area (the expensive part of a HCOL area) we found a wonderful in-home daycare that is $1400/month. The expensive daycares near Stanford run around $2k/month. Will you have multiple kids in daycare? I haven't run the numbers for myself, but I have been told by friends that by the time you reach two or more it often makes more financial sense to have a nanny.
This is my first, although we are also looking in to a nanny share option. We live and work in Manhattan, I know there are some decent homecare options available a bit more on the perimeter of the city. We haven't found any that stay open past 5:30. We are on the wait list for three places, and they range from 2700/monthly (with 6 weeks of being closed yearly!) to 3600. I should probably even round up a bit for daycare supplies, extra fees, etc.
My work actually covers 4 weeks (to be taken all at once, and only at one location of one daycare), so it shouldn't be quite so brutal this year.
Post by: powersuitrecall on December 23, 2016, 12:24:42 PM
In 2020, I hope to consider myself FI + with a paid off condo. We will be leading the SWAMI lifestyle, however, as both DH & I have very rewarding jobs and plenty of time off for our hobbies / travel. No plans to RE. Just enjoy the good thing we have going :)
Thought I would update - things have changed slightly. We are still on track to reach our target of 1.2M NW by 2020, w/ a fully paid off home (HCOL area). We are currently ~75% of the way there.
DH is still fully enjoying his job, but I have begun to feel burnt out & questioning how much longer I want to spend so much energy on work, despite the fact that I do enjoy it. I will be gradually cutting back as we move towards 2020.
Our plan is to be FI by 2020. I know DH will want to continue to work FT at that point. I fully support that - he LOVES his job. I will then take a gap year (or several, or forever!). We do have a lot of (unpaid) vacation time, so even if DH works & I don't, we will still be able to go on adventures together.
Any income from DH's job post-2020 will just be icing on the cake & we will use it for living expenses, extensive (slow) travel, & investing. That will also allow our existing stash to grow untouched. I can imagine DH retiring early sometime around age 50-55. We will be 41/46 in 2020. He may also decide to take a sabbatical year sometime in his late 40s.
allsummerlong, our situations are very similar. I may RE in 2019 and my DW (who has an awesome job she loves) would have to work until 2021 in order to hit our FIRE target ... or I work an extra half year and bring RE for her in by a year ... or I suck it up and we could both RE in 2020.
Whatever we decide when the time comes, I am very grateful for the options and freedom that FI provides us and for the support of this community!
It's pretty great to have these kind of choices isn't it?
Post by: SCUBAstache on December 26, 2016, 04:09:30 PM
Count me in! Maybe earlier, but I'm shooting for 2020 at the latest. I'll be 35. Still working on figuring out what to do after, but I look forward to that freedom of choice!
Silly me from a year and a half ago! I don't think I can wait that long, having a serious case of OLY(s). Granted, 2016 has been good to me, with a NW bump of about +150k, so now I'm about 100k shy of my "number" and that's without taking into account future husband income/assets. So I have a gigantic safety net so I'm not sure it's really all the irresponsible to just...quit...if I'm not enjoying my job anymore. Anyway, the next six months will be telling, but I'm tentatively shooting for FIRE in 2018, but maybe even as early as next year.
It's nice to see all the progress here, I'll continue to lurk and start lurking in the '17/'18 groups, too!
Post by: FIREby2021 on December 26, 2016, 08:33:43 PM
The big financial accomplishment this month was setting up an i401k for my wife in our Vanguard account. I can't believe we hadn't done this in past years, but we plan to fully fund it ($18k) this month for 2016.
Just a follow-up on last month's realization re: starting a i401k for my wife ... we got her set up in Vanguard, and fully funded before the EOY. Tax win!
Have also been doing some reading and number crunching re: our target SWR, and happy to say that the previous (ultra) conservative target of 3% will likely be replaced by either 3.25 or 3.50% going forward. A bit more thinking to be done, but that will "shift" our % progress needle even further in a positive direction. I will keep the final 2016 status connected to the previous 3% SWR goal, but will make the SWR shift permanent going forward for our tracking starting in 2017. Hint - it is still going to be conservative, but will plan to lay out our thought process a bit more coherently.
I hope all are enjoying a quiet Christmas and holiday season ... we returned home to 80 degrees today, and found our urban garden full of December edibles! Picked some long beans, kumquats, lettuce greens and oranges ... and the broccoli, cauliflower, cabbage, beets & carrots are coming in fast! Not sure whether the brussels sprouts are going to give us much of anything :)
Post by: Half Stached on December 30, 2016, 08:10:48 PM
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%
The good:
We're 60K ahead of where we projected at the beginning of 2016
We saved 71% of our post-tax income
The bad:
Part of reducing our FI target was due to assuming ACA and social security remain as projected. These assumptions are now more risky.
Assuming the government doesn't do crazy things to the ACA and social security, we're on track for a 4/19 FIRE date. If they do, we're probably back to 4/20.
Post by: FIREby2021 on January 02, 2017, 05:40:49 PM
Notable 2016 accomplishments:
Savings Rate = 65.5%
Giving Rate = 12.5%
/// Rates relative to net income after taxes ///
EOY 2015 FIRE Progress = 51.8%
EOY 2016 FIRE Progress = 65.2%
/// FI defined as 3% SWR and mortgage-free ///
Notable 2017 adjustments:
As noted before, our SWR target has been too conservative. Rather than a 3.0% SWR, we have adjusted to a target of 3.5%. This appears to appropriately cover our personal scenario, considering our 1) 50-year time horizons, 2) desires to leave a portion of our nest egg behind, and 3) current elevated equity valuations.
Our target FIRE nest egg total has been revised downward, includes the following components, and is still conservative:
1. 3.5% SWR nest egg (100% equity allocation)
2. Home Equity in LCOL location (i.e., no mortgage)
3. Cash Fund (covering 1.5 years expenses, transitioning from HCOL to LCOL location)
4. Donor Advised Fund (100% equity allocation) for future charitable giving (tax-efficient vehicle)
These updates, along with softening the SWR from 3.0% to 3.5% changes our "countdown" percent progress toward FIRE to:
/// EOY 2016 FIRE Progress = 70.9% ///
Our key goals for 2017 include:
1. Sustain (or beat) a savings rate of 65.5%
2. Allocate 100% of existing investments into equities by EOY (we took some off the table at SPY $226.50)
3. Demonstrate proof of concept for future side hustle
4. Implement Donor Advised Fund, begin funding
5. Travel to LCOL for our 2nd visit, to continue our recon work
Happy New Year!
FIREby2021
Post by: FIRE 20/20 on January 20, 2017, 08:47:17 AM
Our key goals for 2017 include:
1. Sustain (or beat) a savings rate of 65.5%
2. Allocate 100% of existing investments into equities by EOY (we took some off the table at SPY $226.50)
3. Demonstrate proof of concept for future side hustle
4. Implement Donor Advised Fund, begin funding
5. Travel to LCOL for our 2nd visit, to continue our recon work
FIREby2021
It's interesting to see what you're doing in 2017 to get ready, and I'm curious what other people are doing as well. We've started keeping a budget for the first time. I've never felt the need for one before because we've done a pretty good job of living on roughly half our income, but I want a lot more precision now that we're getting close to FIRE. If I assume we spend $3,000 / mo. and it's actually $4,000 or more then we're going to be in trouble! I realize that our expenses will change in retirement, but if I have a solid baseline then I should be able to make better predictions.
In addition we're trying to cut some unnecessary expenses. Playing with my predicted retirement budget (to be verified by tracking our 2017 spending) has highlighted some areas we could save, like satellite TV, car expenses, and our landline phone. I plan to cancel the TV service and landline this month, and in spring I plan to sell the old car that I used to race.
I have tiny kernel of hope that we might be able to pull the plug even earlier than 2020, and hopefully tracking our spending will be able to solidify whether or not that's possible.
Post by: 2Birds1Stone on January 20, 2017, 10:06:48 AM
Would LOVE to be able to join you guys and gals, sadly my realistic FIRE date is ~2027.
I could be considered FI by Dec 31 2020 if I moved to a 3rd world country -_-
Does that make me an honorary member?
I half jokingly made this post ~21 months ago.
As the work grind has been getting harder and harder to stomach, it is becoming more and more of a stretch goal. A large part of it will depend on my income over the next 3 1/2 years, but I think end of 2020 is possible. At least a SEMI-FI level.
Post by: BFGirl on January 20, 2017, 10:59:05 AM
The main thing I am worried about that may derail my FIRE plans is health insurance. A lot will depend upon how health insurance is restructured in the next couple of years and whether or not protections are put in place for people with pre-existing conditions. I got diagnosed with something early last year (which has been treated and I'm doing fine) that I could see being a barrier to affordable health insurance in the future.
Post by: nemesis on January 20, 2017, 01:42:31 PM
I am still hopeful that I will have the 2020 option. I am mainly working until the end of 2020 because that is when I can get my pension payout. I am not really saving anything additional to what I have and am mainly still trying to keep my expenses within my income (I am definitely not a hardcore Mustachian).Very true. I could FIRE pretty much if I wanted to, except for uncertainty around health insurance and unexpected medical costs. That's why I keep working, for the employer insurance plan and benefits.
The main thing I am worried about that may derail my FIRE plans is health insurance. A lot will depend upon how health insurance is restructured in the next couple of years and whether or not protections are put in place for people with pre-existing conditions. I got diagnosed with something early this year (which has been treated and I'm doing fine) that I could see being a barrier to affordable health insurance in the future.
Post by: FIREby2021 on February 01, 2017, 11:25:05 AM
ANYWAY, we are pumped for this year and for reaching our goals!
EOY 2016: 70.9% (toward our previously discussed revised FIRE goal)
JAN 2017: 70.3%
Next!
FIREby2021
Post by: Roothy on February 03, 2017, 04:44:20 PM
End of 2020 is guaranteed unless, of course, the market tanks. (And no, I'm not protecting myself from that. I'm invested about 90/10, and will just work longer if I have to.)
Beginning of 2020 is a reach.
As most of you in this thread, I'm being too conservative. We'll see if I can really bring myself to keep working almost four more years.
Post by: FIREby2021 on March 01, 2017, 09:41:58 AM
EOY 2016: 70.9%
JAN 2017: 70.3%
FEB 2017: 70.4%
FIREby2021
Post by: Rubyvroom on March 01, 2017, 12:08:15 PM
February 2017 is in the books!
I'm glad I'm not the only one that gets kind of excited the 1st of every month when I get to run my numbers!
We have had a really great start to 2017, in part due to market gains, but we also saved 56% and 60% of income in January and February as compared to an average 53% in 2016. We are on track to hit our goals for 2017 (actually ahead of them so far), and March and April should be big months for us (3 paycheck month in March and bonuses/raises in April).
We're in good shape, have set our dates (October 2020 for SO and June 2021 for me) and have entered the "hurry up and wait" mode. The major changes for us were in 2016 and we're now just making small tweaks to investments and expenses wherever possible.
For example, I front loaded our 401ks this year, which isn't something I've done before. I also was approved for a higher % back credit card. Towards the end of this year we'll be able to exit our costly Verizon plan for something more reasonable. I also set up recurring, every other week payments into our Vanguard investments rather than manually sweeping excess cash at the end of the month. None of these things will make us REESH overnight, but every little bit helps.
Progress to our FI goal so far is as follows:
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Just keep swimming :)
Post by: BlueMR2 on March 01, 2017, 05:54:34 PM
The job is feeling a bit shaky though. I'm really burned out at this point, it's a major struggle to get up and go to work some days, but really want to do another 3 years. My *total* figures are fine for retirement now, HOWEVER, I'm very retirement side heavy and weak on the front side to carry me there. I'll be solid in 3 more years, but if I don't make it that long I may end up eating some penalties due to cash flow if we have a down market. Sigh.
Post by: FIREby2021 on April 01, 2017, 04:45:31 PM
Some positive organizational changes at work are giving me some reasons to look forward to the remainder of 2017, so that's nice. Our monthly savings goals were exceeded this month and our irregular medical expenses appear to be behind us for now. Spring is springing and our urban garden is growing (currently harvesting herbs, lettuce & kale, blueberries, & strawberries!). My potential future side-gig concept, funded last month, yielded a positive return for March. Overall, month-on-month progress continues toward our NW goal, ticking the needle ever forward! Hope y'all are having a great month.
EOY 2016: 70.9%
JAN 2017: 70.3%
FEB 2017: 70.4%
MAR 2017: 71.4%
FIREby2021
Post by: BFGirl on April 02, 2017, 07:31:44 AM
Post by: NorCal on April 02, 2017, 07:56:19 AM
Anyways, 2020 is still looking possible, but likely on the early side. We're more likely 2022ish to add a margin of safety. Some of it comes down to choices within our control (where we move to from CA) vs factors outside our control (markets), so we'll see where we end up.
Having a stock market downturn between now and then would give me a lot more comfort that the portfolio would last.
Post by: Half Stached on April 02, 2017, 11:46:57 AM
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%
If we could only make this kind of progress all the time... We've started looking for our retirement home (we'd like to buy, and rent now). This will probably shift our targets slightly, but also improve our modeling further. Assuming that we don't buy something too expensive, I hope to move things up to 2019 instead of 2020.
Post by: Rubyvroom on April 03, 2017, 01:30:55 PM
Our best quarter yet!
This was a great quarter for us too.
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
Note that I'm paid every other week, so March was a 3 paycheck month, hence the stupid high savings rate.
At the end of 2016 I made a post in the Bogleheads forums to ask for some portfolio advice and I mentioned that I thought we'd be able to save $100K this year. One person kind of scoffed, noting that based on the history I had provided we had never saved that much in the past, so what made us think we could save that much now. Well, I'm happy to report that we saved $26K in Q1 (does not include mortgage payments, employer contributions or market earnings)! So take that you Boglehead-Negative-Nancy!
Really though, I'm very happy with our progress. My lofty goal of 65% savings rate seems to be totally achievable (Q1 savings rate = 65.4%). I would say we're still very much on track for our planned split retirement - hubs in fall of 2020 and myself in spring of 2021. Hopefully our annual raises don't disappoint, which we should know in the next two weeks or so.
Post by: steveo on April 04, 2017, 04:03:38 PM
My savings rate is about 70%. I don't calculate it monthly. I don't track spending either. It's just savings/income.
I have 2 broad asset groups because I'm Australian and we have Super which you can't touch until 60. My money post 60 is done. I don't see any problems there. I'm 41% towards my out of super (or get to 60) money complete. I'm not sure what my overall target WR will be but I expect it to be 5% or greater.
I'm cool with the 5% WR because we can sell our house and downsize if there are any dramas.
As for the mental side of the picture I've had enough of work and I can't wait to quit. I think I just have to keep plodding along and see what happens but I'm completely uninspired by work. I do think now that 2020 is going to be fairly easy to hit assuming that the market doesn't completely crash but then I'd probably just work part time.
Post by: albireo13 on April 14, 2017, 08:33:28 PM
* have $1.4M in savings (401K, IRA, 403B)
* have $340K mortgage (ugh) .... house valued at $460K+
* have $24K in short term debt (car loans, CC, etc)
Our savings are good but the debt bothers me. My plan is to devote the next few years to clobber the debt at all costs.
Post by: FIREby2021 on April 29, 2017, 11:30:01 AM
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017: 71.9%
FIREby2021
Post by: Rubyvroom on May 01, 2017, 10:26:54 AM
I see great progress for everyone - just keep swimming people! FYI it's kind of fun to pop into the 2017 thread to see how their year is going. We'll be there soon :)
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
Apr 2017 - 30.7% (71% savings rate)
Post by: FIREby2021 on June 02, 2017, 07:41:41 AM
- Vegetable garden has been producing well ... we made a ton of pickles, and harvested many a tomato, pepper + kale. Sweet potatoes in the ground now as well.
- Heading on a vacation next week (!!) with some close friends to continue experiencing / learning our potential LCOL future location. Ready for the break from work, and the heat & humidity!
- Side gig idea really hasn't gotten off the ground yet, given busy schedule with work & other priorities ... maybe an update next quarter?
- Health improvements continue for both of us!
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017: 71.9%
MAY 2017: 72.4%
FIREby2021
Post by: ixtap on June 15, 2017, 01:13:44 AM
Partner's golden handcuffs vest the same season that we need to start what we are retiring to, so if we miss our target, we miss by a year.
Post by: dreams_and_discoveries on June 15, 2017, 01:34:24 AM
How is everyone finding keeping on track, since we still have around 3 years to go?
As we get nearer the time, I'm getting more and more motivated, and more willing to trim and trim expenses. My passport ran out this year, and I'm actually letting it lapse for a year, as I'm curtailing foreign holidays to save funds; with the pound dropping in value seems like great time to do this. I'm spinning the story to non MMM people that I'm cutting back on holidays now to have an amazing 2 year sabbatical holiday, which people can understand, although the concept of FIRE seems alien to them.
Post by: ixtap on June 15, 2017, 03:25:15 AM
Great to see things coming together here, some people like me who were planning for post 2020 but might sneak in, those on schedule and the 2020's who may manage it earlier. My plan is looking possibly by Autumn 2020 if keep working at the same rate, and get a 6% return.
How is everyone finding keeping on track, since we still have around 3 years to go?
As we get nearer the time, I'm getting more and more motivated, and more willing to trim and trim expenses. My passport ran out this year, and I'm actually letting it lapse for a year, as I'm curtailing foreign holidays to save funds; with the pound dropping in value seems like great time to do this. I'm spinning the story to non MMM people that I'm cutting back on holidays now to have an amazing 2 year sabbatical holiday, which people can understand, although the concept of FIRE seems alien to them.
We are old hands at the lifestyle, but new to the calculations. This makes it easy to stay the course. However, seeing that three years is possible freaked us out enough we have started to talk about letting our parents know about the timeline. They know the general outline of the plan, but most of them have convinced themselves that it is just a pipe dream. None of them are as batty as Grandma was when my parents moved out of the country, but that experience means that it is important to me to prepare them before we move on our plans.
Post by: 2Birds1Stone on June 16, 2017, 08:26:40 AM
I might not be able to fire by end of 2020.....because I'll be taking a 9 month sabbatical April 1 2020, afterwhich I will have to return to work for a bit to finish the grind to 100%.
Post by: dreams_and_discoveries on June 16, 2017, 02:07:18 PM
I'll be at 51% to FIRE by end of June.
I might not be able to fire by end of 2020.....because I'll be taking a 9 month sabbatical April 1 2020, afterwhich I will have to return to work for a bit to finish the grind to 100%.
Great progress, I'm at 49.3% now, will cross the magical half way mark next month as well.
Sabbatical sounds awesome, what are you planning for the 9 months?
Post by: 2Birds1Stone on June 16, 2017, 02:18:42 PM
I'll be at 51% to FIRE by end of June.
I might not be able to fire by end of 2020.....because I'll be taking a 9 month sabbatical April 1 2020, afterwhich I will have to return to work for a bit to finish the grind to 100%.
Great progress, I'm at 49.3% now, will cross the magical half way mark next month as well.
Sabbatical sounds awesome, what are you planning for the 9 months?
Early April -> End of June I will fly to Poland where most of my family is. Spend time with them, hike the Tatra mountains for 2 weeks, venture west toward Portugal and slow travel for the last 3-4 weeks around Europe.
End of June -> End of August 10 week motorcycle trip with my dad, he will be retiring that year and we are leaving NY for Alaska by way of Canada, returning down the west coast, through the arizona/colorado/utah region and up the Appalachian mountain range. Taking our sweet time to take in the sights, sounds, and foods along the way.
Sept - January 1st, enjoy fall in New England, while taking some shorter mini trips around the country. Spend holidays with family and friends.
January -> tbd go back to work at current Mega Corp for 2-3 years till full FIRE target is reached....OR go back to work PT or work intermittently while the stache grows in the background.
Really excited for this.
Post by: dreams_and_discoveries on June 16, 2017, 02:34:50 PM
Less than 3 years to go...
Post by: tawyer on June 25, 2017, 11:55:06 AM
We are arguably FI now but are wanting to derisk the RE aspect by reducing our SWR because we are in our 30s. And because US healthcare. In 2020 we will both have 40 credits, so SS will in theory be adequate to support us when we get there, so if our stash runs out, that's a backup plan.
Looking forward to reading more from those on a similar timeline!
Post by: Lance Hiruma on June 30, 2017, 04:23:09 PM
We have created the project plan that includes financial tracking, various charts, notes, tasks, challenges, and wishes. It will give us enough time to plan and execute it. For example, we need to select the base city while we travel internationally for a long period of time. We also need to update the house for sale, research agent, etc.
Post by: FIREby2021 on July 01, 2017, 02:48:30 PM
Highlights from June include:
- Made our 2nd visit to our future LCOL town as a vacation w/some close friends who are considering the same relocation! We had a blast enjoying the outdoors, met a wonderful housing contact, and received further confirmation that this will be our likely landing spot :)
- Health improvements continue! I've really been enjoying a yoga practice as my new venture this year.
- Summer heat is HERE ... peppers & tomatoes are about done, tomatillos, sweet potatoes & eggplant appear to be next ... with July/August seeing a wind down in most of our gardening activity due to excessive heat & watering needs.
- Side gig likely to get off the ground during 3Q-2017, following the current busy season @ work
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017: 71.9%
MAY 2017: 72.4%
JUN 2017: 73.3%
FIREby2021
Post by: BlueMR2 on July 02, 2017, 05:38:28 AM
Post by: Half Stached on July 02, 2017, 11:16:13 AM
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* (Not counting the condo. This also allowed us to reduce our FI target from 1.7million to 1.3.)
Post by: Rubyvroom on July 03, 2017, 08:44:53 AM
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Starting to feel like a broken record at family gatherings... "Oh what have you two been up to these days?" "Just working, saving money... living the dream?" I mean, it feels rather uneventful when everyone else is like LOOK at this new car I got or LOOK I have pictures of our new gigantic house. I'm over here like LOOK we have so much patience in achieving a multi-year self-sufficiency goal that we have none of those things! Yeesh haha :)
Post by: FIREby2021 on July 03, 2017, 11:17:48 AM
It's been a great first half for us. It's too early to tell of course but I think 2020 is still on the table. I still think 2021 would be "safer" but we'll certainly see how we feel when we get there (and who the hell knows what the market will do in the meantime). I'm hoping for 40% by year-end (don't think we'll quite get there, but I'll settle for a "rounded up" 40%). Our goal at the beginning of this year was 65% savings rate which we're fairly close to.
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Starting to feel like a broken record at family gatherings... "Oh what have you two been up to these days?" "Just working, saving money... living the dream?" I mean, it feels rather uneventful when everyone else is like LOOK at this new car I got or LOOK I have pictures of our new gigantic house. I'm over here like LOOK we have so much patience in achieving a multi-year self-sufficiency goal that we have none of those things! Yeesh haha :)
Great job with the savings rate Rubyvroom! We share similar savings rate goals for 2017, although we're tracking behind at the mid-year point (~60%). Some people like to buy new cars & big houses, often many seek to buy others' affections ... then some of us are seeking to buy back TIME!
Post by: dreams_and_discoveries on July 03, 2017, 11:50:33 AM
Starting to feel like a broken record at family gatherings... "Oh what have you two been up to these days?" "Just working, saving money... living the dream?" I mean, it feels rather uneventful when everyone else is like LOOK at this new car I got or LOOK I have pictures of our new gigantic house. I'm over here like LOOK we have so much patience in achieving a multi-year self-sufficiency goal that we have none of those things! Yeesh haha :)
Well done on the savings rate there :)
I think you need a re-frame on your updates - rather than saying you've being working and saving, can't you promote your low cost and frugal hobbies?
I save a lot, but I'm still out most nights; free screenings, tech events, cheap theatre tickets, free gallery nights, volunteering all cost little in value, but add a lot in happiness and enjoyment of life.
Post by: Lance Hiruma on July 18, 2017, 08:33:48 AM
2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?
Post by: BFGirl on July 18, 2017, 10:03:52 AM
2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?
I am so struggling with this every day. It takes everything I have to drag my ass into work. I have so many other things I want to do that I just don't have time for and get really frustrated when I can't pursue my creative endeavors in full. I keep trying to remind myself that if I persevere now, things will be better for my future self. I also remind myself that I have others depending on me and I can't just quit. However, I am taking more of a "Fuck It" attitude. I was on vacation for a week, came back and worked a day and then got sick with a cold. Normally, I would have dragged my ass into work sick, but I decided to actually use my sick time and I took two days off. It made things much less stressful and I probably recovered faster. I've also decided to take more frequent mental health days and long weekends. I have the time and I might as well use it.
3 years, 5 months and 13 days...
Post by: 2Birds1Stone on July 18, 2017, 10:43:37 AM
2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?
Really struggling with this today as well.
Morale on my team at work is at an all time low. It feels like my entire group is getting managed out. Reduced pay, increased work stress, and no clear way out.
Post by: xDavidx on July 18, 2017, 12:07:32 PM
The hardest part so far has been to decline all the job recruiter who are calling/emailing all the time.
Post by: markbike528CBX on July 18, 2017, 02:15:26 PM
...snip....
The hardest part so far has been to decline all the job recruiter who are calling/emailing all the time.
Sounds like a Moustachian People Problem thread post!
Post by: Rubyvroom on July 18, 2017, 02:52:08 PM
I will still reach my target, it might take longer but I am starting to feel healthier already.
I'm glad to hear this is working for you. We've discussed doing this for my SO too about 1 year away from RE. His job is FAR more stressful than mine and much farther of a commute and he's the lower earner in the equation. When we get close to our date (~1-1.5 years out), it might make more sense for us to do a mental health check and change up his situation.
As a Finance person, my coping mechanism is to open my FIRE spreadsheet and find a few things to tweak. I also try to keep perspective at work... when someone is becoming unbearable I just smile and remember, "I will literally never see you again in my life in a couple of years."
Random thought that might help as well... a few months ago toothpaste went on sale and if I bought 5 large tubes they were like $1 per tube, so I bought 5 and thought to myself... shit, we're close enough to FIRE that if a really good sale happens on some non-perishable item, it could potentially last us through our FIRE date... Our dates are far away but not ~that~ far away... its kind of fun for me to think about how the items we own or buy today might be the "last" we buy while we're still working.
Hope everyone's day gets better.
Post by: Lance Hiruma on July 18, 2017, 03:08:31 PM
Morale on my team at work is at an all time low.
My team as well. Being the manager, I still have to put on a positive visage and continue to be helpful. What I can do is limited due to exec change and pivoted vision.
Post by: markbike528CBX on July 18, 2017, 07:52:03 PM
".............pivoted vision.
keeping this for buzzword bingo
Post by: tawyer on July 19, 2017, 06:51:53 PM
2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?
We have two or three years to go. By contrast, those who are often the source of frustration have twenty or thirty years to go. Ergo, I am getting ten times as much from the day as they are. At a stretch, I can convince myself that this is like being paid ten times as much as they are, because I am getting ten times the value from the day.
I suppose it's the journey, not the destination, as it is often said, so I just focus on this amazing high speed journey I am on.
Post by: Lance Hiruma on July 20, 2017, 08:17:22 AM
".............pivoted vision.
keeping this for buzzword bingo
Ha, I had to look that up.
Post by: FIREby2021 on August 01, 2017, 08:47:09 AM
Highlights from July include:
- This was expected to be an insane work month, and it was. We met & exceeded our goals, and should now be in more of a steady state mode going forward, which will be nice for the work/life balance.
- Health improvements continue! Still enjoying yoga & am doing some linear programming (starting strength).
- Summer heat is LEGIT here now ... tomatillos & sweet potatoes appear to be thriving!
- Side gig likely to get off the ground now during 3Q-2017, following the busy season @ work
- We booked an exciting trip for our anniversary in September!
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
FIREby2021
Post by: MsSindy on August 08, 2017, 01:21:48 PM
2020 is still 2/3 years away.
Meanwhile, I find myself sometimes impatient, especially on the days with major work frustration.
How do people cope with it?
I think it's how do you cope with any of life's frustrations? Do you do destructive things like drink heavily or become an asshole and yell at people? Or do you look at your spreadsheets and smile, listen to music, come view what's new on the MMM threads? Basically, what's your tactic to create a diversion.
Post by: Gumption on August 08, 2017, 03:43:35 PM
Pretty much everyone and their brother (and MMM) are calling for a correction soon. Im ok with that and know it will recover, but does that mean another year or two for me to play it safe?
Also, I am starting to notice things like how accommodating I have been to clients all these years (pretty much available 24/7/365)
I woke up saturday morning to find a text from a client "you available today?"
I ignored it until saturday night, when I replied "not in the office this weekend, back monday"
A year or so ago, I would never have thought about doing this.
Still 2/3 years is a long time, so i need to power through and stay positive.
It all makes me realize how much i have had to adjust my personality to make a buck all these years. Now I am trying to get a game plan together to get myself mentally back to a good place....like where I was before "get and real job/buy a house/ marriage /kids" mode.
I am ready to shed this skin!
Out of curiousity, 2020ers, what % of your FI number are you at right now?
Post by: Rubyvroom on August 08, 2017, 05:19:25 PM
A year or so ago, I would never have thought about doing this.
Hopefully that's a good feeling! I call that phenomenon, "losing my give a shit." Just do an internet search on "look at all the f*cks I give" memes while at work... maybe someone will get the message :P
Out of curiousity, 2020ers, what % of your FI number are you at right now?
Hoping to be 40% by the end of 2017 (might be a stretch). We were at 25% at the end of 2016.
Post by: 2Birds1Stone on August 08, 2017, 06:18:19 PM
8X combined annual expenses
13X individual expenses
Feels like 2020 is a stretch, but 2+ years is a decent amount of time to make progress.
Post by: BFGirl on August 09, 2017, 07:36:38 AM
I've finally come to the realization that I at least have FU money. If work becomes intolerable, I'll quit and work harder at my side hustle and find a fun part time job. Sometimes this realization makes it easier to go to work and sometimes much harder, lol.
Post by: FIRE 20/20 on August 27, 2017, 09:34:51 AM
Post by: FIREby2021 on September 02, 2017, 01:53:05 PM
Just a short update for Aug-2017:
- Flat NW progress (met all savings goals, offset by market performance)
- Harvey has been the focus of the past week; so many people in need, hurting; incredibly blessed that we are OK
- Stretch goal now at 20 months (2Q-2019); realistic goal at 29 months (1Q-2020)
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
AUG 2017: 74.1%
FIREby2021
Post by: dreams_and_discoveries on September 05, 2017, 03:32:49 AM
I'm working towards the end of 2020, which gives me 1200 to go today. :)
Post by: LostGirl on September 05, 2017, 02:53:42 PM
That date allows me to fully fund my 401K for that year and I get my annual bonus in March (realizing now with 1+ month notice it will put me to April 2020) My husband will keep working for another maybe 10 years, that's what I have plugged in right now. He's okay with this (right now) and we will re-evaluate as the date nears. There is some flexibility on his working/retiring but I am the one who has the higher stress job and work anxiety.
We are basing all calcs on invest able assets and what I hope is conservative growth 5% for retirement and 3% for non-retirement accounts. I haven't included anything beyond our current healthcare cost since we will still be covered under my husband's healthcare plan at work. He and our children are Canadien citizens as well so worst case, we could move there for socialized medicine.
Excited to be here!
Post by: Lance Hiruma on September 10, 2017, 02:30:12 PM
I'm officially signing up for this Class!! I'm having one of those super anxious days at work and ran some extended scenarios on my spreadsheets andMarchApril 2020 works. I will be 41.
That date allows me to fully fund my 401K for that year and I get my annual bonus in March (realizing now with 1+ month notice it will put me to April 2020) My husband will keep working for another maybe 10 years, that's what I have plugged in right now. He's okay with this (right now) and we will re-evaluate as the date nears. There is some flexibility on his working/retiring but I am the one who has the higher stress job and work anxiety.
We are basing all calcs on invest able assets and what I hope is conservative growth 5% for retirement and 3% for non-retirement accounts. I haven't included anything beyond our current healthcare cost since we will still be covered under my husband's healthcare plan at work. He and our children are Canadien citizens as well so worst case, we could move there for socialized medicine.
Excited to be here!
Welcome to 2020 and congrats! I also have annual bonus in March and am shooting for April 2020 as well!
Post by: Loren Ver on September 10, 2017, 05:58:49 PM
So the plan is for DH and me to RE by May 13, 2020. That is the day before DH turns 41.
Many years ago when we were still dating I told him if he started putting his money away in investments he could retire around 40, since that is what my dad had done. So the plan now is to bid adieu to working before he turns 41. That would make me 38. Less than 1000 days!
The plan:
We currently have a little over $500,000 in stock-based investments. This is enough to cover our VERY basic needs if something went terribly wrong and we had to leave our jobs right now.
We save about 50% of our ~$78000 take home pay. We want to get to around $800,000 for a 4% SWR. This would cover happier living and doing stuff.
Not planning for any pensions, SS, or other windfalls - though there is a possibility any of those things could be realized.
I don't count the house in any projections. It will be paid off a few years after RE, but the house was cheap so the payments are low. The plan is to stay in this house unless we don't. We do not plan on upgrading to a more expensive house.
Possible bumps
I am the main bread winner and my job is in flux due to a recent merger. I'll know what is going to happen in the next 90 days or so.
Until then, stay the course.
The plan in retirement:
Not go to work. :)
Also, we want drive a van we converted into a living space around the country looking and natural splendor and human made oddities. Since we decided this was something we wanted to do, plans are already being made. We plan to buy a (cheapish) van in the next few months and then start tearing it apart. We are going to learn some fun new skills (welding, hooking up solar, etc.) and have a silly time thinking through the possibilities. Hopefully we can start some short trips come spring.
Why wait until 2020? :).
Loren
Post by: Loren Ver on September 10, 2017, 06:05:34 PM
The closer I get, the more stressful it seems.
I am so feeling you here! The closer I get the worse it seems. Good problem to have though!
Still 2/3 years is a long time, so i need to power through and stay positive.About 63%
Out of curiousity, 2020ers, what % of your FI number are you at right now?
Post by: WonderfulLife43 on September 27, 2017, 06:29:34 PM
My perfect vision of a FIRE date is 5/1/2020 (MayDay! MayDay!), 31 months from now, at age 62! When I tell people that I have a countdown clock on my desktop (currently 940 calendar days and counting), I often get 'the look'. It's nice to find many like-minded people here, with all of our countdown clocks, spreadsheets, and forums :-)
My situation is a little different that many of you, as I'm approaching the age of traditional early retirement - what I like to call the 40/40 plan .... work 40 hours a week for 40 years :-/ I've always been frugal. But, I also believed the lies of my employer - generous pension after 30 years of service (Gone!), lifetime free medical insurance after 30 years (Gone!), job security (Gone!) . Since I didn't need to worry about these things, I didn't save much for retirement in the early years. It was about 5 or 6 years ago that I examined our finances, and figured that I may NEVER be able to retire. But, I started streamlining our expenses, maximized 401K / HSA / IRA contributions, including catch-up for being 55+ ..... and the 'stache has been growing nicely, to the point where I can see the light at the end of the cubicle tunnel.
We're at a point in our lives where the kids have been raised, educated, married, and launched. This makes it much easier to estimate the future expenses for the 2 of us. The plan is to sign up for SS immediately at 62, and also start collecting a tiny pension (<$10k/year) immediately. The pension will never get a COLA, so it makes sense to take it ASAP. We can live a luxurious life on SS/Pension, and allow the 'stache to continue to grow for several more years before we touch it.
Leaving in April/May works best for me, as it allows me time to fully fund the 401k for 2020, and get the annual bonus in March.
Keep up the good work, and hang in there!
Post by: Loren Ver on September 29, 2017, 05:21:47 AM
Post by: Lews Therin on September 29, 2017, 09:36:38 AM
I've been flip-flopping on continuing for 8 years (FIRE 2025) in order to never have to work again.... But I think that leaving the military at the end of my contract (25 July 2020) and simply working a part-time job if I need more than the 4% would do the trick.
While not full FIRE... going to a 40hr work... Month would be pretty awesome. I've checked my numbers, and even working minimum wage for 40 hrs a month, I have between 5-10k leeway. Seems safe enough for me!
Post by: Rubyvroom on September 30, 2017, 08:36:24 AM
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Jul 2017 - 34.4% (60% savings rate)
Aug 2017 - 35.5% (61% savings rate)
Sep 2017 - 37.0% (60% savings rate)
60.6% Q3 Savings Rate
When you wake up Saturday morning like /glee the markets are closed for the month time to SPREADSHEET. Ha.
Q3 was a lower savings rate than I would have liked but it was summer... we tend to slip a bit in the summer and will make some of that up in Q4 when Minnesota throws winter at us.
We have now saved more in 2017 through September than we saved all year in 2016! I think 2020 is still realistic. My SO and I have talked about accelerating that timing to 2019 and going down to part time, but we'll see what the markets do.
Glad to see the new folks joining up. It's always fun to hear everyone's stories :)
Onward and upward!
(https://i.pinimg.com/736x/4c/2f/02/4c2f0211f23fb0d3183b939746e10d98---pounds-funny-cats.jpg)
Post by: Lance Hiruma on September 30, 2017, 09:04:46 AM
Post by: Half Stached on September 30, 2017, 01:28:41 PM
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). However, 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.
Post by: FIREby2021 on October 01, 2017, 12:50:42 PM
- Solid progress; best month of the year, in fact. We met our savings goals & benefitted from market performance (is energy making a positive turn?)
- We splurged on a wonderful trip to Kauai to celebrate our 15-year wedding anniversary!
- Cooler weather is here ... the best time of the year to be down here is upon us!
- Remember our (2nd visit) to our future LCOL location back in June? Well, we just made an offer on a house in our "ideal" neighborhood location. The house currently has long-term renters who prefer to stay, which would be very helpful as we bide our time before beginning a future remodel project. Home price + remodel projects to fit within the "home" portion of our overall NW target goal ... we are excited this might represent securing our future FIRE home location!
- Stretch goal countdown now rolls to 19 months (2Q-2019); realistic goal is at 28 months (1Q-2020)
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
AUG 2017: 74.1%
SEP 2017: 76.2%
FIREby2021
Post by: FIREby2021 on October 10, 2017, 02:26:59 PM
OK - time for the end of Sep-2017 update:
- Solid progress; best month of the year, in fact. We met our savings goals & benefitted from market performance (is energy making a positive turn?)
- We splurged on a wonderful trip to Kauai to celebrate our 15-year wedding anniversary!
- Cooler weather is here ... the best time of the year to be down here is upon us!
- Remember our (2nd visit) to our future LCOL location back in June? Well, we just made an offer on a house in our "ideal" neighborhood location. The house currently has long-term renters who prefer to stay, which would be very helpful as we bide our time before beginning a future remodel project. Home price + remodel projects to fit within the "home" portion of our overall NW target goal ... we are excited this might represent securing our future FIRE home location!
- Stretch goal countdown now rolls to 19 months (2Q-2019); realistic goal is at 28 months (1Q-2020)
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
AUG 2017: 74.1%
SEP 2017: 76.2%
FIREby2021
Minor update - we ended up getting outbid on that house, which is fine as it turns out ... the long-term renters we were initially told about had decided to move out end of October ... thankful not to deal with that news after-the-fact. "NEXT!" - thankful we have the luxury of time on our side to find the right place.
FIREby2021
Post by: Able was I ERE on October 16, 2017, 05:21:08 AM
I'm in. My current calculations have me hitting a 4% WR in late 2020.
However, I fantasize about gradually working fewer and fewer days per week, which would extend my completely FIRE date considerably. I've already shifted to 4 days / week. If I get to 2 days / week, I'll officially call it my "smoldering date", and consider myself partially FIRE'd.
Now working 3 days / week and taking significant amounts of time off in the summer. Next year, I expect to work ~120 days (versus ~230 days for typical 5 days / week worker). The kindling has been chopped, but the FIRE is still not smoldering.
Not sure how this affects my FIRE date yet. Right now, this is the correct choice for me and my family, allowing me more time to spend with the kids while they are young, especially during the summer when there is more time and good weather for outdoor activities. I'll re-evalute a full FIRE when 2020 nears.
How are everyone else's plans for FIRE'ing in 2020 coming? Still on track or have they changed?
Post by: Lance Hiruma on October 16, 2017, 09:27:55 AM
How are everyone else's plans for FIRE'ing in 2020 coming? Still on track or have they changed?
Financially, still on track.
Recent stock market high makes the book awesome.
Emotionally and etc, it is up and down; 2020 still is far away to galvanize...all the necessary steps/projects leading up to that point are still on track though.
Post by: RedefinedHappiness on October 16, 2017, 11:50:39 AM
Post by: BlueMR2 on October 16, 2017, 04:29:47 PM
Conservative assumptions and favorable market returns have put me ahead of schedule financially. This may push me into 2019 or 2018. Or at least allow me to plan more thoughtfully now that this is becoming more real.
Things are indeed rolling along real nice now. I think there's a lot of us that had planned on 2020 based on prior returns that can now say that 2018 is looking pretty solid (of course - creek don't rise, healthcare don't explode, markets don't tank with no sign of recovery anytime soon). A couple more "OMYs" from 2018 to 2020 at current trends should make for as bulletproof a future plan as one could ever hope.
Post by: ixtap on October 16, 2017, 05:31:09 PM
Post by: Lews Therin on October 16, 2017, 05:57:25 PM
I might not have to do ALL 40Hrs a month I was planning!
Post by: RedefinedHappiness on October 16, 2017, 07:50:45 PM
Conservative assumptions and favorable market returns have put me ahead of schedule financially. This may push me into 2019 or 2018. Or at least allow me to plan more thoughtfully now that this is becoming more real.
Things are indeed rolling along real nice now. I think there's a lot of us that had planned on 2020 based on prior returns that can now say that 2018 is looking pretty solid (of course - creek don't rise, healthcare don't explode, markets don't tank with no sign of recovery anytime soon). A couple more "OMYs" from 2018 to 2020 at current trends should make for as bulletproof a future plan as one could ever hope.
Agreed. My plan is to keep working with my head down until I reach a reasonable 4%. Then spend a little more time pouring over assumptions and analyzing safety margins. Once I then become comfortable, I will consider my options. Could be to continue, could be to find a fun part time gig. Could be to FIRE. All good options...
Post by: FireLane on October 16, 2017, 07:53:53 PM
What concerns me more than money is health care. People retiring this year, with no way to know whether Obamacare will survive or what if anything will replace it, are a lot braver than me. If I hit my target number early, I may just keep working but cut back my hours to the minimum required for benefits. I'm hoping that by 2020, the future of health care in America will be clearer.
Post by: Loren Ver on October 20, 2017, 05:05:00 PM
Changes and issues for me:
Still don't know if I will have a job next year. Mixed feelings on if I will have job (I am the main breadwinner and have a great job with great benefits) or a buy out (big cash drop and skills for a new job). Now mostly waiting. So thankful that either option is good where many of my coworkers are in very tight spots.
DH and I just bought a van. We are stripping it out for travel. One of our goals in FIRE is to drive around and see the country. But, we are also impatience and want to see how we like this mode of transit and living before we retire. Love learning new skills!
Medical and other issues are making me feel strapped for liquid funds. We are fine, but I am use to more buffer space. Investment money gets pulled out first, so everything else a bit tight when 1000s of unexpected dollars all need to be spent right now. The spreadsheet is getting a workout.
We are about 69% of the way there!
Post by: ixtap on October 20, 2017, 05:11:44 PM
DH and I just bought a van. We are stripping it out for travel. One of our goals in FIRE is to drive around and see the country. But, we are also impatience and want to see how we like this mode of transit and living before we retire. Love learning new skills!
We have lived aboard our boat for three years now because we wanted to see if we liked it before we retire. One reason that 2020 is in our sights is because that is when the next big regularly scheduled maintenance is due.
We took it out for a three week cruise at the end of the summer and discovered a pretty big problem. However, because we know this boat inside and out we went from "are we going to have to get a different boat?!" to "problem solved" for about $500 and few weeks of labor.
Our back up plan, if his skeletomuscular problems can't be resolved, is an RV. It is also our follow up plan after cruising.
Post by: Loren Ver on October 22, 2017, 01:08:19 PM
LV
Post by: FIREby2021 on November 01, 2017, 12:49:47 PM
- Solid progress, meeting our savings goals & energy holdings continue to solidify
- Enjoyed a long weekend trip visiting extended family up north - fall colors and a great relaxing weekend in the country!
- Cooler weather is finally here ... the best time of the year to be living here is now upon us!
- Holy moly - WE BOUGHT OUR HOME in our future LCOL town!! We travelled to participate in the inspection, etc., and it truly is in our dream neighborhood location. Right across from a beautiful park and within easy walking/biking distance to EVERYTHING. We are working with a local property management company to rent it out as we approach the final ~2 year countdown, after which time we'll do some cosmetic remodel work.
- Our LCOL home is half the cost of our current HCOL home, which (in alignment with one of our 2017 goals), we will now making steps to sell and shift to a rental here. More to come, I'm sure.
- Stretch goal countdown now rolls over to 18 months (2Q-2019); realistic countdown goal is at 27 months (1Q-2020)
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
AUG 2017: 74.1%
SEP 2017: 76.2%
OCT 2017: 77.3%
FIREby2021
Post by: Linea_Norway on November 01, 2017, 01:17:10 PM
I still need approx another 1,5 mil Norwegian crowns to be able to FIRE in 2020. If we don't get any large expenses, this might be 2 years of saving. I hope that our 2010 car survives for many years to some.
Our joker card is downsizing the clown house. We will do that as a part of FIRE. We currently don't have the energy to downsize and move while working full time. We just moved in two years ago, just before discovering this website. Dumb decision it was... I count on finding a FIRE house for 50% of it's price.
By the way... Originally I joined the 2023 thread, which has been the plan for the last 12 years or so. But that was before I calculated the numbers in detail.
Post by: 2Birds1Stone on November 16, 2017, 01:15:23 PM
Would LOVE to be able to join you guys and gals, sadly my realistic FIRE date is ~2027.
I could be considered FI by Dec 31 2020 if I moved to a 3rd world country -_-
Does that make me an honorary member?
I just want to point out why I almost just spit my coffee out reading this original post from over 2.5 years ago!
Thanks to the wonderful folks here, ERE, blogs, vlogs, and everything inbetween....a slow shift in mentality and resourcefulness, the actual plan IS to embark on a sabbatical/miniFIRE/downshiftto25%worktime by using geographical arbitrage.
28.5 months away for me, and we are only sitting at 8X current annual expenses. I hope to by @ 12-15X when pulling the plug.
Post by: Lance Hiruma on November 16, 2017, 04:36:15 PM
Our joker card is downsizing the clown house.
What is a clown house?
Post by: 2Birds1Stone on November 16, 2017, 05:26:06 PM
Our joker card is downsizing the clown house.
What is a clown house?
Too much house for practical use.....IE a 3500 sqft McMansion for a family of 4....usually in a good school district with equally high property taxes.
Post by: BFGirl on November 22, 2017, 09:39:34 AM
Post by: 2Birds1Stone on November 22, 2017, 07:20:21 PM
Post by: Lance Hiruma on November 23, 2017, 07:32:10 AM
859........can't come soon enough ;)
I am 850, we are close :)
Post by: Able was I ERE on November 23, 2017, 08:59:42 AM
Post by: Lews Therin on November 23, 2017, 01:59:42 PM
Post by: FIRE Artist on November 27, 2017, 12:14:42 PM
So, FIRE date December 31, 2020. But, there is also a small benefit in my staying until end of January 2021, so I may jump into another class as the time comes up.
Post by: FIREby2021 on December 01, 2017, 02:18:08 PM
- Despite tepid savings amounts for November (see more below), inching toward our goal
- As shared last month - HOLY MOLY, WE BOUGHT OUR FUTURE HOME in our "dream" L(ower)COL location!!
- Like many searches, we did not expect to find it this soon. We had visited this area over several years during different seasons, so had a good idea of which "pockets" we preferred.
- It is our dream life-style location, and will be a downsize (right-size) for us, at 1/2 the cost of our current H(igher)COL home.
- We are working with a property manager to rent it out during the final ~2 year countdown. We plan for some cosmetic remodel work at that time.
- In alignment with one of our 2017 goals, we are taking steps to list our HCOL home for sale in January & shift to a rental.
- November savings were reduced, given closing costs for the new home & some minor costs to prepare our current home for sale.
- Stretch goal countdown now points to 17 months (2Q-2019); realistic countdown goal is at 26 months (1Q-2020)
- Given the direction we're heading to drastically reduce our housing costs, savings goals could accelerate throughout most of the timeline outlook.
- Had a quiet Thanksgiving with friends & enjoying the warm southern weather ... planning for visits up north to family during Christmas!
- Honestly, with all the excitement, my side-gig really hasn't benefitted from much focus. More likely to get rolling in 2018. TBD.
- A mental landmark (for me) was to achieve 80% progress toward our NW goal by EOY 2017. We'd need quite a month to make that happen!
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
AUG 2017: 74.1%
SEP 2017: 76.2%
OCT 2017: 77.3%
NOV 2017: 78.2%
FIREby2021
Post by: Linea_Norway on December 02, 2017, 01:20:38 AM
The issue is that I want to early retire in a self financed way, until DH will receive our pensions at the age of 67. So we don't need the 25 x spending level to last for the rest of our lives, but need to covers approx 20 years.
Because I had no idea how much we needed to FIRE, I made this big excel sheet. The first page contains parameters with tax brackes that I can change when the system changes. The next pages are a detailed calculation per year of how much stash we have, the 4% we can take out, the extra income we might have, the income tax to pay, the tax on stash, the tax on stock profits. And then the yearly income we want to reach. The goal is to find out how much we need to start with.
The fact is that when I opened the spreadshett yesterday, I needed 7,5 mil Norwegian crowns to FIRE in 2020. I looked better into some of the fomulas that I had used and find out I was using brutto income instead of nett income. So I corrected the formula. I got some dependency errors, because the height of the safe withdrawl amount depends on how much additional income we might have. Therefore the tax on the withdrawl amount is dependent on the withdrawl amount. Excel protested loudly and I solved it by paying the tax in the year after, just to get it working.
But the issue is that when I was finished with the formulas and had copied it to the pages up to 2030, the FIRE number increased to 9,5 mil! That would mean three years of extra work, at least.
Because I had faith in my new formulas, I copied the columns on to the other pages up to 1941 which is the last one. These had obviously not been updated for some time. While I was copying, the FIRE amount reduced all the way down to 5 mil! Which is something we have today as soon as we downsize.
As you understand I am slightly desperate. I need help with that sheet. I will again try to motivate DH to look at it in detail. He is better in Excel than I am. He is not an accountant either, but an engineer and generally good at math. I hope we will figure it out together.
I am also wondering whether I would benefit from hiring an economic expert to look at it. I am affraid that suck a person also would need to spend several hours on it and might charge 5000 crowns or more for such a job. But it would be benefitial to have someone confirming my calculations. Let's hope DH can igure it out.
Post by: Linea_Norway on December 02, 2017, 02:04:32 AM
DH is a physicist and is good at making ball park figures. Just out of bed he made a ball park FIRE calculation based on the 4% rule and found out that 5 mil crowns is too low and 10 mil is too high. The truth must be somewhere in between and closer to the 10. So we are pretty much back to the original number of 7,5 or 8 mil. We'll take it from there and will look at it in more detail later.
Post by: 2Birds1Stone on December 02, 2017, 10:38:26 AM
The biggest unknown in our plan is inflation in the places we plan to geo-arbitrage to, and US healthcare laws.
Both of us have unstable jobs at currently shakey employers, if either of us loses income for even a period of a few months our plan get's thrown a bit off.
Post by: Lance Hiruma on December 02, 2017, 03:20:10 PM
Post by: Rubyvroom on December 11, 2017, 12:46:14 PM
I have been pretty set on 4% for the past year but have started thinking about this differently in terms of our specific life situation:
- We're in our late 30s and live in a metro area where we could find work quite easily, so I don't worry about our ability to generate income post-FIRE, if needed.
- We don't have children (no plans to have them), which eliminates a lot of health care and other emergency spending.
- Having no children also means we aren't very fixated on leaving behind a "legacy" and would be perfectly fine with spending down our assets before passing.
- While many of our expenses are fixed, we've been successful in the past in ratcheting our variable expenses down if needed, so our spending is somewhat flexible.
- We don't rent, so a large portion of our living (and overall) expenses will not increase with inflation.
- We don't have any debt and don't anticipate incurring any new debt for continuing education or other purposes.
When one starts looking at various probabilities of death as you age (yes I know I'm being morbid), the probability of dying starts to greatly increase with age while your probability of going broke is really only declining by a few % points for each year you continue to accumulate. There's also quite a bit of information regarding the sequence of returns (specifically in the first 10 years) being far more important than your initial WR.
I end up down the rabbit hole in reading through all of the various Trinity Study outcomes and withdrawal strategies, and ask myself, am I just being lazy because it's getting harder to hold the line the closer we get to being done? Or is there merit here, that a 4% WR in nearly every historical scenario means we worked "too long," especially knowing the amount of flexibility we have to react to future scenarios?
I too try to remember context... that we're in the midst of a massive health care debate that could drastically reshape how early retirees approach health insurance and that we've enjoyed a long bull market. I also remember that my dad just recently had a heart attack in his late 50s that nearly ended him, and I get all YOLO feeling again.
Anyone care to share what their targeted % WR is and why? I'm wondering if anyone else has justified to themselves a lower or higher rate than the 4% "rule."
Post by: Lance Hiruma on December 11, 2017, 01:21:48 PM
Post by: RedefinedHappiness on December 11, 2017, 03:05:15 PM
I can understand how you might target 5% though.
Post by: BlueMR2 on December 11, 2017, 04:03:49 PM
Post by: FireLane on December 11, 2017, 07:46:33 PM
There are a couple of reasons for this. DW and I live in a HCOL area and we're not planning to move, at least not soon. We have one kid and haven't ruled out having more. Most of all, I'm expecting the future to be turbulent, and I want to have a buffer that covers us against unforeseeable shocks: a health care death spiral, massive economic upheaval due to climate change, Japan-style market stagnation, who knows what else?
I'm being pessimistic, I know. In most scenarios, we'll do just fine and end up with a ridiculous pile of money to give away when we're old and gray. But that's OK with me. I have a job that I don't hate, and in terms of career length, the difference between stashing to 4% and 3.5% isn't as much as you'd think.
Post by: ixtap on December 11, 2017, 07:53:21 PM
I'm aiming for a sub-4% WR. Not something crazy low like 3%, but maybe 3.75% or 3.5%, something that gives us a comfortable cushion.
There are a couple of reasons for this. DW and I live in a HCOL area and we're not planning to move, at least not soon. We have one kid and haven't ruled out having more. Most of all, I'm expecting the future to be turbulent, and I want to have a buffer that covers us against unforeseeable shocks: a health care death spiral, massive economic upheaval due to climate change, Japan-style market stagnation, who knows what else?
I'm being pessimistic, I know. In most scenarios, we'll do just fine and end up with a ridiculous pile of money to give away when we're old and gray. But that's OK with me. I have a job that I don't hate, and in terms of career length, the difference between stashing to 4% and 3.5% isn't as much as you'd think.
For many of these reasons, we have calculated our number based on our spending before consciously cutting back. This leaves us a little room to stretch into at some future date if we don't enjoy living like hobos for as long as we expect to.
Post by: Half Stached on December 11, 2017, 09:00:03 PM
Post by: scantee on December 11, 2017, 09:55:21 PM
I don't know that I'll fully FIRE in 2020, I might want to continue to consult or work part-time in some way. I do hope to be done with full-time work by then. I'm currently 65% of my way to my FIRE goal.
I'll need moral support to make sure I don't succumb to lifestyle creep. My new salary is high enough that I'll likely be able to enjoy a few more niceties while also saving loads of money. I just need to make sure I don't let those little niceties to become big, pointless expenses...
Here we go!
Post by: Linea_Norway on December 12, 2017, 12:38:23 AM
Well I think I'm going to jump in and join this thread. Up until recently I thought my FIRE date was around 7 to 8 years in the future. That length of time seems so very far in the future, and so much can change in that amount of time, that I was hesitant to commit to a firm date. However, I recently got a new job that comes with a hefty pay raise. Yes! My increased pay will cut down my time to FIRE substantially. I'm now comfortable setting a goal of three years: December 31, 2020.
I don't know that I'll fully FIRE in 2020, I might want to continue to consult or work part-time in some way. I do hope to be done with full-time work by then. I'm currently 65% of my way to my FIRE goal.
I'll need moral support to make sure I don't succumb to lifestyle creep. My new salary is high enough that I'll likely be able to enjoy a few more niceties while also saving loads of money. I just need to make sure I don't let those little niceties to become big, pointless expenses...
Here we go!
Congrats with the new job and better pay. As you just newly required it, you haven't fallen for lifestyle creep just yet. Before you buy a new nicety, think about the option of buying it second hand. Also, it is better to buy a new/second hand thing once in a while than to fall for more expensive habits that cost you something every month. Although if you buy too many niceties, it will also add up.
Think about the day you are going to downsize... Then you don't want to bring along a house full of niceties. Minimalism is a nice concept.
Post by: Rubyvroom on December 12, 2017, 07:26:05 AM
However, I recently got a new job that comes with a hefty pay raise. Yes! My increased pay will cut down my time to FIRE substantially. I'm now comfortable setting a goal of three years: December 31, 2020.
I'll need moral support to make sure I don't succumb to lifestyle creep. My new salary is high enough that I'll likely be able to enjoy a few more niceties while also saving loads of money. I just need to make sure I don't let those little niceties to become big, pointless expenses...
Here we go!
Congrats and welcome! Just think of all the FREEDOM you can buy with that new money. It is the best nicety of all :)
Thanks for all the % WR replies everyone. It's good to hear what others on a similar timeline are planning.
It seems folks here are more cautious than I think we will be, but that's the beauty of this entire FIRE process... it can be 100% custom to your situation/risk tolerance.
Someone brought up Social Security - good point. I do not factor in Social Security into my numbers, simply because as a person in their late 30's, I have no idea how to estimate something that is so far in the future and is constantly under the microscope for unfavorable changes. So that's probably our biggest "safety net" that I'm purposefully excluding. I did a firesim once with it included, using an estimate right off the SS site, and everything was unicorns and roses so... who knows.
There are so many things that may change between now and 2020 anyway, with my primary concerns being health care and a market pullback. Only time will tell!
Post by: tooqk4u22 on December 12, 2017, 07:37:29 AM
My estimate of no decrease in spending would put us at 3.5% already, and with expected savings included is 2.97% right now, but I still haven't pulled the trigger. I feel like we've got one of those worst case scenario sequence of returns coming up in the next couple of years, combined with a healthcare system that continues to spiral out of control. And my plan was to stick it out until 2020 anyways...
That's kind of how I see it too....3% feels good to me. Ignoring historical backtesting, it just makes me feel better that my portfolio can lose 25% and I would still be at a 4% WR. May be too conservative but hard to argue with the safety margin it affords. Plus I have plenty of spending that can be cut or isn't necessarily permanent like spending on kid related activities/direct cost that won't exist once they are out of the house that I include in my 3% calculation when the reality it is more like 10 years +/- (hint the math is the actual costs of the activities for 10 years is about 1/3rd of the 3% WR rate amount for such annual spending). I am ok with this as it is more cushion and if all goes fine I plan/hope to use the excess for more travel, college expenses, or to help them in other ways.
Post by: BFGirl on December 12, 2017, 07:51:23 AM
Post by: asauer on December 13, 2017, 12:15:17 PM
Post by: Loren Ver on December 13, 2017, 12:46:56 PM
However, I recently got a new job that comes with a hefty pay raise. Yes! My increased pay will cut down my time to FIRE substantially. I'm now comfortable setting a goal of three years: December 31, 2020.
I'll need moral support to make sure I don't succumb to lifestyle creep. My new salary is high enough that I'll likely be able to enjoy a few more niceties while also saving loads of money. I just need to make sure I don't let those little niceties to become big, pointless expenses...
Here we go!
Congrats and welcome! Just think of all the FREEDOM you can buy with that new money. It is the best nicety of all :)
Thanks for all the % WR replies everyone. It's good to hear what others on a similar timeline are planning.
It seems folks here are more cautious than I think we will be, but that's the beauty of this entire FIRE process... it can be 100% custom to your situation/risk tolerance.
Someone brought up Social Security - good point. I do not factor in Social Security into my numbers, simply because as a person in their late 30's, I have no idea how to estimate something that is so far in the future and is constantly under the microscope for unfavorable changes. So that's probably our biggest "safety net" that I'm purposefully excluding. I did a firesim once with it included, using an estimate right off the SS site, and everything was unicorns and roses so... who knows.
There are so many things that may change between now and 2020 anyway, with my primary concerns being health care and a market pullback. Only time will tell!
Hey Rubyvroom. I think you are I are moving forward similarly. No kids, lots of flexibility etc. Right now I am aiming more for a date than a %WR. If the markets makes 7%, we will probably be 4.5 or 5% WR for the first year. If the market grows more than 4.5 or 5% the WR % naturally falls if we pull out the same amount of money (we don't plan to inflation adjust until we need to).
I find myself more risk taking than many of the people on the forums, but that is just how I roll. If it doesn't work out, then it doesn't but I am going to enjoy if while it does!
What I need to decide is, DH plans to retire on the 13th of May (the day before he turns 41). Do I retire too, or hold out until the end of the year to get my bonus (and cheap insurance, and pay, etc etc).
I guess that will depend on how I feel when I get there.
LV
Post by: Lews Therin on December 13, 2017, 01:10:12 PM
Post by: nora on December 17, 2017, 07:06:41 AM
I need to save $750000 to produce $30000 a year. This is half of what we spend, with the other half coming from flatmates and renting paddocks. By the end of 2020 the stash should have well exceeded the goal, but my work goes in three year cycles, so may as well plan to do the whole three years. It gives me extra time if the unexpected happens. And I work casually so if I don't work enough to make the goal, then the extra time will help.
It is 80:20 stocks/bonds and I hope it makes 7% after tax a year.
We have a paid off house plus some retirement fund we can't access until age 60.
Post by: LostGirl on December 17, 2017, 09:43:25 PM
Post by: dreams_and_discoveries on December 18, 2017, 01:08:41 AM
Welcome Layla! Maybe it’s because 2018 is so close but 2020 is feeling not so far away any more!
I agree, it's feeling quite close, even tho I just aiming for the end of 2020, which is just 3 years away now.
Post by: rab-bit on January 01, 2018, 09:18:22 AM
Post by: Rubyvroom on January 01, 2018, 10:22:19 AM
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Jul 2017 - 34.4% (60% savings rate)
Aug 2017 - 35.5% (61% savings rate)
Sep 2017 - 37.0% (60% savings rate)
60.6% Q3 Savings Rate
Oct 2017 - 38.6% (71% savings rate)
Nov 2017 - 40.5% (69% savings rate)
Dec 2017 - 41.6% (62% savings rate)
67.2% Q4 Savings Rate
63.8% 2017 YTD Savings Rate
We had a pretty fantastic year in terms of our own personal savings and the out-of-control market gains. We didn't quite pull off a 65% savings rate but I'm certainly not unhappy about 63.8%. It's good to have stretch goals.
It's interesting to poke around in the 2018 FIRE Cohort thread. There is a lot of OMY happening over there due to the market run-up and uncertainty about ACA. I'm sure we'll have our own slew of worries when 2020 rolls around.
I hope you are all having a great new year!
(https://vergecampus.com/wp-content/uploads/2016/12/nye-cat-funnycaptions.com_.jpg)
Post by: Linea_Norway on January 02, 2018, 03:16:11 AM
In the Christmas holiday we heard how much DH's father has in ownership as his private pension fund. It is quite a lot and he thinks, based on his spending pattern, that he won't use it up. Depending on how old he will get, we will expect a bigger or smaller windfall shared with 1 brother some day. Same from my mother.
Post by: toocold on January 06, 2018, 08:37:00 AM
Post by: 2Birds1Stone on January 06, 2018, 01:19:17 PM
Portfolio as a multiple of projected FIRE expenses = 15X for myself
If I include SO's #'s for a combined picture we are around 9X expenses, but she will continue working after our sabbatical in 2020, I may not.
April 1, 2020 is still the target date, based on staying with current Megacorp.
Post by: FIREby2021 on January 07, 2018, 08:01:00 PM
- Holidays now behind us, we are seeking to rent our newly-acquired "future MCOL home" (minor make-ready projects are done & paid for)
- We are listing our "current HCOL home" for sale this week! (will move into a rental post-sale)
- December savings were modest, given holiday travels, minor housing costs, caps reached on pre-tax savings
- Stretch goal countdown is now @ 16 months (May-2019); more realistic countdown goal is @ 27 months (Apr-2020)
EOY 2016: 70.6%
JAN 2017: 70.0%
FEB 2017: 70.2%
MAR 2017: 71.2%
APR 2017 71.9%
MAY 2017 72.4%
JUN 2017: 73.3%
JUL 2017: 74.1%
AUG 2017: 74.1%
SEP 2017: 76.2%
OCT 2017: 77.3%
NOV 2017: 78.2%
DEC 2017: 78.6%
EOY 2017: 78.6%
Well, we added another 8% progress this year toward our ultimate target!
I will post separately to review progress against our 2017 goals, and lay out some 2018 goals.
FIREby2021
Post by: FIREby2021 on January 07, 2018, 08:27:37 PM
Stats:
2015 Savings Rate = 51.0%
2015 Giving Rate = 11.2%
2016 Savings Rate = 65.5%
2016 Giving Rate = 12.5%
2017 Savings Rate = 64.4%
2017 Giving Rate = 11.5%
// Rates relative to net income //
EOY 2015 FIRE Progress = 56.2%
EOY 2016 FIRE Progress = 70.6%
EOY 2017 FIRE Progress = 78.6%
// FI defined as 3.5% SWR, mortgage-free + giving fund //
Key goals for 2018 are:
1. Sustain (or beat) a savings rate of 65%
2. Attain 87.0% of progress toward our NW FIRE target, and achieve desired AA (75/25) for SWR portion
3. Demonstrate proof of concept for future side hustle (deferred from 2017 to 2018)
4. Optimize Housing costs (sell HCOL house, shift to HCOL rental, secure renters for L(M)COL house)
5. Study Healthcare options and decide on future strategy
Happy New Year!
FIREby2021
Post by: BFGirl on January 08, 2018, 08:10:07 AM
Post by: Lews Therin on January 08, 2018, 08:23:02 AM
New goals: Find a wait to enjoy sitting and waiting.
At this point, it's all about learning new things in order to keep adding new stuff I can do on my own, and will never have to pay for in the future like learning how to do all car maintenance, building furniture. I concentrated on groceries last year and got it down to less than 100$ per month (for 1), and could easily cut that lower if I was cooking for two.
Post by: Lance Hiruma on January 08, 2018, 09:47:09 AM
At this point, it's all about learning new things in order to keep adding new stuff I can do on my own, and will never have to pay for in the future like learning how to do all car maintenance, building furniture. I concentrated on groceries last year and got it down to less than 100$ per month (for 1), and could easily cut that lower if I was cooking for two.
$100 is very low, glad you can do it. I am fascinated by how much we can learn from youtube, etc. We are still on track for spring 2020 as planned.
Post by: Lews Therin on January 08, 2018, 09:52:41 AM
Post by: dreams_and_discoveries on January 09, 2018, 02:06:26 AM
On the grocery budgets, fascinating how different everyone's version of the norm is....to me $100 seems reasonable rather than a frugal target.
Post by: BFGirl on January 09, 2018, 03:30:51 AM
Post by: Lews Therin on January 09, 2018, 06:12:01 AM
Post by: asauer on January 09, 2018, 06:13:03 AM
Sept 1 2017:526,110
Oct 1: 531,034
Nov 1: 548,730
Dec 1: 564,953
Jan 1, 2018: 580,396
Post by: Linea_Norway on January 09, 2018, 07:19:35 AM
It's great to see everyone's progress here as the years reduce, are people counting down in months now?
Counting the days until my DH does the calculations on his bank account...
I am individually at 68% savings rate in 2017. But I want to find out at which rate we are together, as it is the total that counts. In 2016 (before discovering MMM) we were at 60% and my goal was to do better that that in 2017.
Post by: 2Birds1Stone on January 09, 2018, 07:56:37 AM
Post by: Lews Therin on January 09, 2018, 07:57:44 AM
811 days =p
Well played... well played.
Post by: bluebelle on January 10, 2018, 08:48:46 AM
And maybe not a popular idea on this forum, but we have a vision for our retirement that includes a waterfront home (we bought the property last year and start building late this year), we both want out of the city. I can honestly say, the only thing I'll miss about living in the city is being able to walk to a grocery store. We're both really looking forward to the small town life.
Post by: Linea_Norway on January 11, 2018, 10:53:07 AM
It's great to see everyone's progress here as the years reduce, are people counting down in months now?
Counting the days until my DH does the calculations on his bank account...
I am individually at 68% savings rate in 2017. But I want to find out at which rate we are together, as it is the total that counts. In 2016 (before discovering MMM) we were at 60% and my goal was to do better that that in 2017.
DH has run his numbers. In 2017 we have saved 75% of our net income! And we spent only about 60% of our FIRE spending budget. This year is a bit unusual, because we didn't have any large repairs or replacements of equipment. So normally the spending will be higher, but we might be able to change our spending budget and FIRE earlier. We'll see when I run the numbers.
Post by: Lews Therin on January 11, 2018, 11:17:44 AM
-Recalculates the numbers: Oh, we can FIRE now.
Post by: Loren Ver on January 11, 2018, 01:41:22 PM
We are still aiming for 13May2020, but DH has started asking about Jan 2020. I love the idea, but the market is due for a big down slide, and I don't want to walk away right when that happens with a tight nest egg.
Also, some of the savings rates we have on here are awesome! Woot woot!
LV
Post by: MaybeBabyMustache on January 17, 2018, 02:48:59 PM
Post by: Linea_Norway on January 17, 2018, 11:49:27 PM
I'm on the fence between 7/25/18 & 7/25/20, so I'm reading both cohorts but should be making a final decision soon. We can afford for me to FIRE this summer (DH will continue to work), but we won't be able to remodel our house. If I stay until 2020, we can remodel. I'm leaning in the direction of staying, but waiting to get all of the final numbers in to understand exactly what would be required. If I stay for a few more years, I will likely get another big promotion, and therefore it may be early in 2020. Fingers crossed!
I think remodelling the house is one of the things you want to be able to do from time to time, using a lot of your own effort instead of buying it from others. I think the budget should open up for a big purchase every 5 years or so.
Wouldn`t that be a nice suprise Linda:
-Recalculates the numbers: Oh, we can FIRE now.
My FIRE spending budget (simply divided by 10 to make it look more like dollars, but not very correct) was 50.000$ a year. In 2017 we spent 28.000$. If I change my FIRE budget to 40.000$ a year, we currently have enough stash to FIRE in 2019. But as mentioned above, it would be nice to have room in the budget for a bigger purchase every couple of years. So I am pretty tempted to still keep it high. Maybe reduce it to 45.000$, but not much below it. I think 2017 was an exceptionally cheap year with no car repairs. We cannot count on it always being so cheap.
In my spreadsheet I can vary the Safe withdrawal rate. Originally I had 4%, but I recently changed it to 3,6%. There is also some slack. I still think that with 3,6%, we can reduce our hours in 2019 and FIRE completely in 2020. For the moment this is the plan, but it could change depending on the stash we manage to build in 2018 and not in the least what we manage to sell our house for.
House in Norwegian crowns divided by 10: purchased for 790.000$.
In my spreadsheet I count on selling it for a nett 700.000$, losing almost 100.000$, as I don't want to be optimistic. And I am afraid we might have paid too much for the house when we bought it. If things turn out more optimistically and we are left with 800.000$ after a sale, we sudden have earned 2 years of FIRE budget.
And we have the prospect of receiving a windfall in the future, the size of it depending on how long the parents live. We do not need it to FIRE, so I hope they will live as long as their health allows them.
Post by: MaybeBabyMustache on January 18, 2018, 09:21:16 AM
I'm on the fence between 7/25/18 & 7/25/20, so I'm reading both cohorts but should be making a final decision soon. We can afford for me to FIRE this summer (DH will continue to work), but we won't be able to remodel our house. If I stay until 2020, we can remodel. I'm leaning in the direction of staying, but waiting to get all of the final numbers in to understand exactly what would be required. If I stay for a few more years, I will likely get another big promotion, and therefore it may be early in 2020. Fingers crossed!
I think remodelling the house is one of the things you want to be able to do from time to time, using a lot of your own effort instead of buying it from others. I think the budget should open up for a big purchase every 5 years or so.Wouldn`t that be a nice suprise Linda:
-Recalculates the numbers: Oh, we can FIRE now.
My FIRE spending budget (simply divided by 10 to make it look more like dollars, but not very correct) was 50.000$ a year. In 2017 we spent 28.000$. If I change my FIRE budget to 40.000$ a year, we currently have enough stash to FIRE in 2019. But as mentioned above, it would be nice to have room in the budget for a bigger purchase every couple of years. So I am pretty tempted to still keep it high. Maybe reduce it to 45.000$, but not much below it. I think 2017 was an exceptionally cheap year with no car repairs. We cannot count on it always being so cheap.
In my spreadsheet I can vary the Safe withdrawal rate. Originally I had 4%, but I recently changed it to 3,6%. There is also some slack. I still think that with 3,6%, we can reduce our hours in 2019 and FIRE completely in 2020. For the moment this is the plan, but it could change depending on the stash we manage to build in 2018 and not in the least what we manage to sell our house for.
House in Norwegian crowns divided by 10: purchased for 790.000$.
In my spreadsheet I count on selling it for a nett 700.000$, losing almost 100.000$, as I don't want to be optimistic. And I am afraid we might have paid too much for the house when we bought it. If things turn out more optimistically and we are left with 800.000$ after a sale, we sudden have earned 2 years of FIRE budget.
And we have the prospect of receiving a windfall in the future, the size of it depending on how long the parents live. We do not need it to FIRE, so I hope they will live as long as their health allows them.
Agreed. We can do a smaller rebuild within the existing budget, but this is close to a full tear down. Only reason we wouldn't tear down is because it's about a 10-15% savings to remodel as is, plus the cost of rent, which would run us close to $60K.
Post by: Loren Ver on January 24, 2018, 05:37:58 AM
We had a pretty fantastic year in terms of our own personal savings and the out-of-control market gains. We didn't quite pull off a 65% savings rate but I'm certainly not unhappy about 63.8%. It's good to have stretch goals.
It's interesting to poke around in the 2018 FIRE Cohort thread. There is a lot of OMY happening over there due to the market run-up and uncertainty about ACA. I'm sure we'll have our own slew of worries when 2020 rolls around.
I hope you are all having a great new year!
(https://vergecampus.com/wp-content/uploads/2016/12/nye-cat-funnycaptions.com_.jpg)
Haha! OMY. We are wobbling between one more year and one less year. The exponential curve is nuts. It makes it hard to get off the roller coaster.
Question for you all -
How many of you are set on a date and how many a nest egg number (and the number should be hit around xx date)? I know the two are linked, but there seems to be different mind sets between the two.
LV
Post by: Linea_Norway on January 24, 2018, 05:52:00 AM
Question for you all -
How many of you are set on a date and how many a nest egg number (and the number should be hit around xx date)? I know the two are linked, but there seems to be different mind sets between the two.
LV
We have a nest number. The number is calculated for starting to work part time in 2019 and completely FIRE in 2020. But if I change the income for those years in my spreadsheet, the nest number will change.
On big variable in our FIRE date is what price we will get for our clown house when we start to sell it. It is currently not for sale. I am not sure if we should try selling this spring of wait for another year. There is an issue with it that we want to previous owner to pay for. This needs to go to court and will take time. I think it needs to be in place before selling it. Otherwise we need to inform new buyers of a lackful drainage around the house and a wet cellar room.
It is definitively best to sell our house in the summer half year, because it is so easy to get stuck in the steep hills in winter (with a normal, not 4x4, car which most potential buyer have).
If we could sell the house for what we paid for it, we are well set for FIRE. In my spreadsheet I have counted for a loss of $100.000, to make sure we are not too optimistic. But if we can't make even that amount, we'll have a problem and will need to work longer, either full time or part time for more years.
Post by: 2Birds1Stone on January 24, 2018, 05:57:00 AM
Question for you all -
How many of you are set on a date and how many a nest egg number (and the number should be hit around xx date)? I know the two are linked, but there seems to be different mind sets between the two.
LV
We have a nest number. The number is calculated for starting to work part time in 2019 and completely FIRE in 2020. But if I change the income for those years in my spreadsheet, the nest number will change.
On big variable in our FIRE date is what price we will get for our clown house when we start to sell it. It is currently not for sale. I am not sure if we should try selling this spring of wait for another year. There is an issue with it that we want to previous owner to pay for. This needs to go to court and will take time. I think it needs to be in place before selling it. Otherwise we need to inform new buyers of a lackful drainage around the house and a wet cellar room.
It is definitively best to sell our house in the summer half year, because it is so easy to get stuck in the steep hills in winter (with a normal, not 4x4, car which most potential buyer have).
If we could sell the house for what we paid for it, we are well set for FIRE. In my spreadsheet I have counted for a loss of $100.000, to make sure we are not too optimistic. But if we can't make even that amount, we'll have a problem and will need to work longer, either full time or part time for more years.
I have both.
April 1 2020, regardless of what the stache is at by then
Or
$500k Net Worth, if I magically hit that prior to April 1 2020, I will jump ship at that time.
Post by: Lews Therin on January 24, 2018, 06:47:55 AM
But If I were to find a 250,000$ bill on the ground, I`d fire today. (After bringing it to the bank)
Post by: TheContinentalOp on January 24, 2018, 06:57:50 AM
But I am still looking at Friday, March 20, 2020 to retire on my own terms.
Post by: Lews Therin on January 24, 2018, 10:34:37 AM
Post by: 2Birds1Stone on January 24, 2018, 12:36:18 PM
You're just not gonna go?
Yeah.
Won't you get fired?
I don't know, but I really don't like it, and, uh, I'm not gonna go.
So you're gonna quit?
Nuh-uh. Not really. Uh... I'm just gonna stop going.
I watched that movie for inspiration when I took on a new role and my boss got fired a few days later.
It's been 4 months and still no boss, I've been averaging 1-2 days a week in the office.
Post by: BFGirl on January 25, 2018, 11:08:22 AM
Post by: robtown on January 25, 2018, 08:39:00 PM
As each week that passes it seems that the 2020 date is no closer. Maybe I need to install a countdown timer.
Post by: AO1FireTo on January 25, 2018, 08:57:46 PM
Post by: Linea_Norway on January 26, 2018, 12:25:31 AM
I have a target date of December 1st 2020. I could probably go now if we sold the house and moved to a LCOL area but the wife likes where we live and truth be told so do I. If all goes well by 2020, we should be able to cover our living expenses plus a nice cushion. Wife might continue to work for a few years as although she is frugal and likes to save she's not quite on board yet with the whole FIRE concept.
But I'm pretty certain your wife will appreciate the FI concept when you have reached it. And maybe she will understand that there is a thing to say for extended vacations and not working fulltime. My DH is also a bit sceptic about being fulltime free, so he is thinking about having a small consultancy company.
Post by: Rubyvroom on January 26, 2018, 05:09:27 PM
How many of you are set on a date and how many a nest egg number (and the number should be hit around xx date)? I know the two are linked, but there seems to be different mind sets between the two.
We have a number we want to be close to and a general idea of when that may occur, but our dates are set for specific reasons. If markets tank before then, we'll reevaluate the timing.
We have a free auto lease through my SO's employer and the lease ends October 2019, so that will be my SO's FIRE date so we don't need to worry about extending the lease or purchasing a second vehicle. He'll be getting our house ready to sell that fall/winter for a potential spring listing, and he'll be covered under my health insurance.
My date will be June 5, 2020. I chose that date for a number of reasons: 1) our wedding anniversary is June 11, so I want to FIRE before then, 2) our bonuses pay out in mid-April, so I won't FIRE before that check clears the bank, 3) our vacation payout is based on your current wage, and raises go out mid-April, so I don't want to give notice before then and risk getting a shitty raise, 4) I have to give a month notice at my level, so that puts me to at least mid-May, 5) a colleague on my team takes the last two weeks of Ramadan as vacation so I intend to work through her vacation and allow a bit of overlap after she returns so she isn't scrambling, which pushes me out till after Memorial Day, 6) my health insurance covers me through the entire month I terminate, so earlier in the month is obviously a better time to quit, which makes early June appealing. So my plan is to put in my notice either Friday May 1 or Monday May 4 and give 5 weeks notice, because that colleague of mine that celebrates Ramadan is a close friend and I really want her to get her vacation time before things get hectic.
Side note: have you all noticed the gd market run up this month? I don't even want to talk about it, it seems completely unreal. It's like, 3 months worth of my estimated annual gains in one month. I love it but damn it makes me nervous!
Post by: Freedomin5 on January 26, 2018, 06:26:25 PM
Question for you all -
How many of you are set on a date and how many a nest egg number (and the number should be hit around xx date)? I know the two are linked, but there seems to be different mind sets between the two.
LV
We have a number, because our earnings fluctuate from year to year, so it's hard to set a hard date. There is also no benefit for either of us to make it to a certain date.
Post by: 2Birds1Stone on January 27, 2018, 06:15:48 AM
Side note: have you all noticed the gd market run up this month? I don't even want to talk about it, it seems completely unreal. It's like, 3 months worth of my estimated annual gains in one month. I love it but damn it makes me nervous!
Yup!! My returns since December 1st = my entire 2017 spending (~$24k)
While I expect a correction to happen sooner than later (long bull run, high CAPE, yadda yadda), I'm not sure if I would prefer for it to happen prior to April 1, 2020, or once I am on Sabbatical/Semi FIRE.
On one hand, if the market crashes before my date, I might get spooked and do OMY (which I don't want to do).
On the other hand, if the market crashes after my date, I might not enjoy my time off as much knowing that years of savings have been wiped out in a matter of days (weeks, months?) and anxiety about finding work in a down economic cycle might worry me even further.
Post by: tipster350 on January 28, 2018, 02:54:46 PM
Post by: Linea_Norway on January 29, 2018, 12:38:33 AM
This market run-up is crazy. I've "made" so much money lately. It is freaking me out. As I will be older than most here when I retire, I'm particularly concerned about sequence of return risk. I have less ability to absorb too much bad luck with timing. I might get caught up in the OMY syndrome to pad the stash. I'm also planning to have a few years cash available, which has its good points and its bad points.
Yes, current return on index funds is almost too good to be true and I also have the impression it can't last forever.
On the other hand, we know that the robots are coming and are going to do everything cheaper. This means more profit for the companies (good index fund results). On the other hand don't we know how bad the loss of jobs will be and how that will stop.
We also have the very expensive challenge of climate change/more extreme weather. Countries and cities will have to do a lot to protect themselves from flood, hurricanes and draught. That will cost society, but maybe it will generate many building projects and a good economy for the index funds. It is quite impossible to predict the financial future.
My thoughts are that bonds generate so little profit for the moment, that I prefer to keep all my stash in index funds, apart from what I have in my house. If we would ever get higher interest on a bank account, I would keep more in the bank (depending on inflation).
Post by: Rubyvroom on February 01, 2018, 08:39:34 AM
My SO managed to sneakily increase his pay by a significant amount as well, so our January savings rate was 75%! He was salaried with a commission and worked a ton of OT and was not happy at all. He told his bosses back in October that he was going to put in his notice and be done at the first of the year unless they reduced his management responsibilities and moved him off the commission plan and on to an hourly set wage at a "lower" rate (lower if he only works 40 hours). He gave them months to figure it out. They procrastinated, and when the first of the year rolled around, they hadn't come up with an alternative plan so they just gave him exactly what he requested. His first month he put in a pretty standard amount of OT (nearly 40 hours total) which amounted to a raise of about 16%! He's no longer despising all the OT - he's offering to work more of it LOL. It's nice to see that shift in his mindset. He seems much healthier now that he's deciding to work OT for fat checks rather than getting stuck working OT for free.
Meanwhile, I have a cush job but the cracks are starting to show with our leadership so I keep one eye on job postings, hoping I can find something to squeeze out more pay to shorten our timeline. It's proving difficult to find anything, so I think I have to just settle in here. I'm assuming the rest of you are getting quite antsy too. It's hard to be on a short-ish timeline, but still too long to do anything but bide our time.
Soon we will catch you, elusive FIRE squirrel, soon....
Post by: FIREby2021 on February 01, 2018, 12:36:46 PM
- We listed our "current HCOL home" for sale and were under contract for above-asking price within 30 hours!
- Much of this month has revolved around preparing to move to our rental home. This will yield a significant annual savings going forward.
- Put a big 'ol asterisk next to our progress (or lack thereof) for this month. Savings, home value & market performance were great, but ...
- Given the start of a new year, we bit the bullet & adjusted expectations down (to $0) on a high-risk start-up investment from a few years back. This offset most of our monthly progress gain, but our NW now represents a more risk-appropriate total. Feels right. Maybe we'll get surprised down the road, but I'm no longer carrying that "value" on our books.
- Stretch goal countdown is now @ 15 months; our more realistic countdown goal is now @ 26 months (01-Apr-2020)
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FIREby2021
Post by: BFGirl on February 01, 2018, 02:23:40 PM
Post by: robtown on February 01, 2018, 04:55:58 PM
1064 days left...hoping the impending change of leadership at work doesn't accelerate my fire plans as that will be a little bit more challenging for me financially.
790 calendar days, 485 work days left
Post by: Linea_Norway on February 02, 2018, 12:47:22 AM
Jan-2018 highlights:
- We listed our "current HCOL home" for sale and were under contract for above-asking price within 30 hours!
- Much of this month has revolved around preparing to move to our rental home. This will yield a significant annual savings going forward.
- Put a big 'ol asterisk next to our progress (or lack thereof) for this month. Savings, home value & market performance were great, but ...
- Given the start of a new year, we bit the bullet & adjusted expectations down (to $0) on a high-risk start-up investment from a few years back. This offset most of our monthly progress gain, but our NW now represents a more risk-appropriate total. Feels right. Maybe we'll get surprised down the road, but I'm no longer carrying that "value" on our books.
- Stretch goal countdown is now @ 15 months; our more realistic countdown goal is now @ 26 months (01-Apr-2020)
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FIREby2021
Exciting to sell your house to cash in your FIRE savings. That is what we are going to do too in a few years. Our LCOL community is going to be merged together with a HCOL community in 2020, so we wait until then before we sell the house. We think buyers might be willing to pay more for the house, when the community has the more attractive name, as we currentløy live only 1 km from the community border.
Post by: BFGirl on February 02, 2018, 08:16:35 AM
1064 days left...hoping the impending change of leadership at work doesn't accelerate my fire plans as that will be a little bit more challenging for me financially.
790 calendar days, 485 work days left
I need to calculate work days :)
Post by: FIPurpose on February 04, 2018, 12:58:30 PM
Unfortunately that came to an end recently. Our volunteering had a bump in the road and now we're readjusting again. We'll go live in Portugal for a few months, get Tefl certificate and go teach English somewhere. Likely UAE or somewhere that pays well so that we can fully FIRE.
But I wouldn't trade it for anything. I've started to adventure around the globe. And I've been able to do it without worrying about money. Now I do have to find work here an there, but honestly, I'd still pick this life over the office that I was in.
I know this thread is probably a bit older people, but I've become an advocate for living the life you want now because your life likely involves earning more or spending less than you're planning.
Post by: Linea_Norway on February 05, 2018, 05:52:11 AM
There is a pretty similar looking house to ours for sale since autumn, just a bit lower on the hill. We can see it from our house. Their sales price is 20% above what we paid for our house, which I think is insanely high. I have been following the sales of this house, as I would very much like to sell our house for a similar sum. If we could get a similar price, we could FIRE several years earlier, like right now.
But there has been no response to the house for sale. At the moment the advertisement is passive.
There is also another different style high-price house for sale in the same street as that other house for about the same price as what we paid for our house. Also that house has not been sold.
We just has a bit of a financial dip in Oslo, mostly because of stricter rules for buying a second apartment as an investment object. But I am a bit afraid this dip is spreading and that expensive houses in my region are going very slowly. For the moment I just stick to my original conservative estimate and hope that the prices won't sink under that amount.
Post by: 2Birds1Stone on February 05, 2018, 03:53:32 PM
I had about 1 year of living expenses wiped out in the past 5-6 trading days.
Post by: Lews Therin on February 05, 2018, 05:14:12 PM
Post by: Lance Hiruma on February 05, 2018, 06:05:56 PM
It's still up 20% from 2017... On a longer timeframe this 2-4% pull back is nothing.Yep
Post by: Rubyvroom on February 05, 2018, 06:28:06 PM
Post by: 2Birds1Stone on February 05, 2018, 06:46:00 PM
It's still up 20% from 2017... On a longer timeframe this 2-4% pull back is nothing.
Dow would need to gain 9.3% to return to all time high.
Post by: 2Birds1Stone on February 05, 2018, 06:46:38 PM
Post by: BFGirl on February 05, 2018, 06:51:28 PM
Post by: Lews Therin on February 05, 2018, 08:35:49 PM
It's still up 20% from 2017... On a longer timeframe this 2-4% pull back is nothing.
Dow would need to gain 9.3% to return to all time high.
Hadn't seen today's extra downwards numbers. Meh, 2020 is a longgg way away. It's still an excellent period so far! (I'm still buying, so keep going down!)
Post by: Linea_Norway on February 05, 2018, 09:51:09 PM
Post by: Rubyvroom on February 06, 2018, 05:29:30 AM
Post by: dreams_and_discoveries on February 06, 2018, 11:46:12 AM
I'd much rather ride a bear market now than in 2020.....although I will say that sequence of return risk is starting to look very real to me now.
Post by: 2Birds1Stone on February 06, 2018, 12:36:22 PM
Am I the only one who was hoping it would come now, when I'm still happy working, investing every month and not looking to give up work?
I'd much rather ride a bear market now than in 2020.....although I will say that sequence of return risk is starting to look very real to me now.
Yes, I scooped up 12 shares of VTI this afternoon, and have a limit order for another 13 if it drops to $130/share.
Unfortunately I already maxed out my Roth and put $5.5k into taxable on January 2nd.
Post by: Lews Therin on February 06, 2018, 01:25:04 PM
Post by: BFGirl on February 06, 2018, 01:50:13 PM
I kept with my plan and put in a buy order yesterday for my every other week 457b contribution.
Post by: Linea_Norway on February 07, 2018, 12:17:19 AM
Post by: tooqk4u22 on February 07, 2018, 12:58:16 PM
I now regret a bit that I have been buying stock steadily the whole of 2017. Bing buying might have been a slightly smarter strategy. Although, my DH binge-bought a bunch of stock after the first drop, but was still too early and dropped another 4,5% after that.
You might be referencing Norway or Europe specific market or some other specific element to your experience. But VTI (total US market) and VXUS (total international market) over last 12 months from today are up 16% and 18%, respectively, and have only dropped to back to the values at the start of January/end of December so your strategy of buying throughout 2017 was spot on correct. If you would have waited you would have missed out on average gains of 8-9% plus dividends (assuming investments were made equally throughout the year). So your husband is the one who lost as he is buying in at prices far higher than what you did even after the drop.
Post by: 2Birds1Stone on February 10, 2018, 10:55:22 AM
I purchased $9000 of VTSAX and $5000 of VBTLX
65% Stock/ 35% bond
Purposefully on the conservative side since these are funds I may actually want to use for medical emergencies.
Further monthly contributions will go toward the stock portion as I DCA that with the account balance getting larger.
Post by: Linea_Norway on February 10, 2018, 01:23:01 PM
I now regret a bit that I have been buying stock steadily the whole of 2017. Bing buying might have been a slightly smarter strategy. Although, my DH binge-bought a bunch of stock after the first drop, but was still too early and dropped another 4,5% after that.
You might be referencing Norway or Europe specific market or some other specific element to your experience. But VTI (total US market) and VXUS (total international market) over last 12 months from today are up 16% and 18%, respectively, and have only dropped to back to the values at the start of January/end of December so your strategy of buying throughout 2017 was spot on correct. If you would have waited you would have missed out on average gains of 8-9% plus dividends (assuming investments were made equally throughout the year). So your husband is the one who lost as he is buying in at prices far higher than what you did even after the drop.
On Friday I listened to a Norwegian podcast about how to invest during this correction. Amongst the usual strategy they also mentioned an investigation that has been done. Someone has calculated the differences in profit between a person who has always been bought stock at the right moment, compared to someone who has always bought stock at the wrong moment, during all time there were ever stocks. The right moment person had on average received 11% profit. The wrong moment person had on average received 8% profit. So in the long run, it doesn't really matter that much when you buy stock. Even though 3% is a noticeable difference, the 8% is still very good.
Post by: markbike528CBX on February 10, 2018, 02:25:21 PM
http://awealthofcommonsense.com/2014/02/worlds-worst-market-timer/
In other words, what Linda_Norway said in the immediate previous post.
On the other hand, it is irritating to invest right before a crash.
Done it twice, best investment moves I have made.
Post by: FireLane on February 17, 2018, 02:03:32 PM
Mrs. FL and I send our son (18 m.o.) to an in-home daycare in our neighborhood two or three days a week and trade off working from home on the other days. We just found out that the woman who runs the daycare is planning to retire and close the business in June.
We could look for another daycare, but this one was very affordable and super convenient. We're not likely to find another place that's such a good deal. Plus we both feel kind of bad about forcing our son to bond with a new caregiver.
We're not at the FIRE level yet, but we're definitely at the FU level. We're seriously considering whether, instead of looking for a new daycare, one or both of us should just go part-time and take care of him ourselves. It would lower our savings rate, but it wouldn't be a financial hardship.
Post by: Richmond 2020 on February 17, 2018, 11:12:35 PM
Between the wife and I we currently have $925k in Super which we can start accessing in 13 years time. Outside super we have $185k invested, a house worth $1.1m with $130k owing it. And a half share in a small investment property that is currently paying for it’s self and earning a small return.
Currently on a combined income of $270k and saving approximately 55%.
The goal for us is to pay off the house in the next 18 months and invest heavily in stocks outside Superannuation to fund the gap between fire and being able acces some of our superannuation.
The DW is 5 years younger so the plan is for me to fire and look after the home front (kids will be 6 and 8) while she works another 5 years approx (she actually likes work).
I’m looking forward to spending the 5 years from 2020 to 2025 buying investment properties, fixing them up and renting them out. Can’t wait!
Post by: Loren Ver on February 18, 2018, 01:48:15 PM
I know this thread is probably a bit older people, but I've become an advocate for living the life you want now because your life likely involves earning more or spending less than you're planning.
Don't know, older is relative. Like some kind of linear scale :). I'm 35, for many people that makes me older than dirt, but my grey hair doesn't show too much :).
I am glad you have found a balance that works for you. DH and I have though about expating so we can be out now, but with only a little over 2 years left, hanging on, staying the course, and not fighting the momentum seems easiest.
As for the recent turn down. I managed to scrape some money to throw into DHs Roth. So my spreadsheet is a bit in the red but it will catch up. The only sad part is since I have shrunk our standing cash pile I didn't have more to throw.
Post by: 2Birds1Stone on February 19, 2018, 09:36:55 AM
550 Weekdays to go!
Anyone scheming of ways to slide into the 2019 cohort? *raises hand*
Post by: Lews Therin on February 19, 2018, 09:46:33 AM
That should save a year on FIRE right?
Post by: Rubyvroom on February 19, 2018, 12:05:17 PM
Anyone scheming of ways to slide into the 2019 cohort? *raises hand*
What? Nooooo.... I mean, ok yeah definitely. I have spent a rather ridiculous amount of time lately watching home listings, with the naive hope that I'll find a nice-ish home with a lower mortgage that we can downgrade into, thus reducing our stash requirement and accelerating our timing. Now, have I done anything to get our current home ready to sell? Definitely not. But watching home listings sure is a fun way to pass the time...
Post by: RedefinedHappiness on February 19, 2018, 04:31:43 PM
770 Days to go!
550 Weekdays to go!
Anyone scheming of ways to slide into the 2019 cohort? *raises hand*
Guilty as charged. 2019...and 2018.
Post by: Linea_Norway on February 26, 2018, 03:15:11 AM
I have a feeling my FIRE plan is about to be accelerated!
Mrs. FL and I send our son (18 m.o.) to an in-home daycare in our neighborhood two or three days a week and trade off working from home on the other days. We just found out that the woman who runs the daycare is planning to retire and close the business in June.
We could look for another daycare, but this one was very affordable and super convenient. We're not likely to find another place that's such a good deal. Plus we both feel kind of bad about forcing our son to bond with a new caregiver.
We're not at the FIRE level yet, but we're definitely at the FU level. We're seriously considering whether, instead of looking for a new daycare, one or both of us should just go part-time and take care of him ourselves. It would lower our savings rate, but it wouldn't be a financial hardship.
And maybe you could combine this with looking after some other children as well (start you own in-house daycare)?
Post by: 2Birds1Stone on February 26, 2018, 07:28:35 PM
I'm kinda bummed it happened so quickly. My company is raising our ability to contribute beyond 20% into 401k, therefor come June, I will be able to max it out 4 months into the year! Instead of barely at all. I will be dumping $14k in from June-August.
Post by: Lews Therin on February 26, 2018, 07:36:54 PM
Post by: FireLane on February 28, 2018, 08:00:38 AM
I have a feeling my FIRE plan is about to be accelerated!
Mrs. FL and I send our son (18 m.o.) to an in-home daycare in our neighborhood two or three days a week and trade off working from home on the other days. We just found out that the woman who runs the daycare is planning to retire and close the business in June.
We could look for another daycare, but this one was very affordable and super convenient. We're not likely to find another place that's such a good deal. Plus we both feel kind of bad about forcing our son to bond with a new caregiver.
We're not at the FIRE level yet, but we're definitely at the FU level. We're seriously considering whether, instead of looking for a new daycare, one or both of us should just go part-time and take care of him ourselves. It would lower our savings rate, but it wouldn't be a financial hardship.
And maybe you could combine this with looking after some other children as well (start you own in-house daycare)?
Nothing but respect for the people who do that kind of work, but I don't think it's for me. I love my son to pieces, but I'm exhausted after a long day of chasing him around. I can't imagine putting in that much work to take care of someone else's kids too! I want to relax when I'm FIRE. :)
Post by: Rubyvroom on March 01, 2018, 07:51:01 AM
We didn't change course at all either. The only "market timing" decision we made was to take some excess cash we had on the side in our HSA and invest it. I had been thinking about doing that for a while but never pulled the trigger. The dip seemed like a good time to do it, not that I was able to call the bottom accurately... ha. Other than that, our investments have stayed within the 90/10 tolerance level we have in our IPS so we didn't even re-balance.
Hoping you all stayed strong through the month even with the volatility! It's a good test of what we can stomach, as we haven't had a down month in our portfolio since 2016, and the market swings back then on a smaller portfolio were kind of cute in comparison.
In other news, we have our eye on some land we really like. I may waste most of my work day spreadsheeting to arrive at the "land = X months of extra work" calculation so we can determine if its worth it. We've been hit pretty hard with spring fever, especially as we watch the housing market here heat up. Maybe we should just sit on our hands until April or so... stay strong 2020!
Post by: 2Birds1Stone on March 01, 2018, 02:10:52 PM
We pretty much broke even at the end of February, it was a higher than usual earning month for me, we invested about $10k and most of that was wiped out.
My hopes of switching to 2019 are not getting too high haha.
Post by: Lews Therin on March 01, 2018, 02:27:02 PM
(I'm pretty close to even with at 90% SR for this month (I'm on a course, so all expenses covered))
Market gains have kept my NW close to even, but after a while this will be quite helpful. 2 Years is a long time away
Post by: Linea_Norway on March 02, 2018, 12:47:10 AM
As I have written in a separate thread, my DH is reconsidering his job. He his postponing his decision until after the easter holiday. He he 2 options after that, that might pay reasonably well, but not as much as his current job. One option is to start for himself as a consultant, which he can continue as a side-hustle after FIRE.
Post by: FIREby2021 on March 02, 2018, 10:25:28 AM
- Mostly unpacked and settled into our new rent-house; we downsized by ~1000 sq-ft (!!) so it's been a good opportunity to purge. I'm thankful that we set up our garage to accommodate both cars, space for a gym, and a mini-shop/workbench. We also installed a modest garden out in the side yard ... spring has sprung, with herbs, tomatoes, kale & greens all sprouting. The property also has a fig & meyer lemon tree + two rose bushes that I pruned. Pretty fun stuff, despite now being in a "less hipster" location, we are making it into a home for the next ~2 years or so :)
- Stress testing the portfolio!! We knew the constant market party-boat wouldn't last forever. Energy holdings have been hit particularly hard (again). Such is the game we play. Thankful we sold our HCOL home when we did ... we have not yet deployed the cash proceeds now in hand, as we are evaluating how best to deploy in the coming month(s).
- WE HAVE RENTERS!! The future "dream, M(L)COL home we purchased last quarter now is rented! Above and beyond expectations, they signed up for an 18-month lease (paid in full), which we will deploy directly into the mortgage principle. Awesome!
- Our countdown needs revamped. Stretch goal would have been @ 14 months, but we now have at least 18 months due to the renters term. No worries, as this was beginning to feel more and more unrealistic. Going forward, I will only be tracking the more realistic countdown goal target which is now @ 25 months (Apr-2020)
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
FIREby2021
Post by: Lance Hiruma on March 02, 2018, 10:42:21 AM
Post by: AO1FireTo on March 02, 2018, 02:17:56 PM
Aha! Time to put most of my paycheck back in. Whoo for dips!
(I'm pretty close to even with at 90% SR for this month (I'm on a course, so all expenses covered))
Market gains have kept my NW close to even, but after a while this will be quite helpful. 2 Years is a long time away
Wow 90% SR that's amazing. What is your average? I assume house is paid for etc... Be interested to see how you got it so low.
Post by: Lews Therin on March 02, 2018, 03:07:51 PM
I have a single roommate
I'm usually around 70%.
Groceries is less than 100$ a month.
My hobbies are pretty cheap, so I could easily survive on 20k. (Right now I'm above that since I bought a new car, and it's worth exactly as much as I owe, and the same price as an older car, so no point in selling it)
I also make a pretty good income as an officer in the Canadian Forces.
Post by: Loren Ver on March 03, 2018, 12:11:20 PM
Anyone scheming of ways to slide into the 2019 cohort? *raises hand*
What? Nooooo.... I mean, ok yeah definitely. I have spent a rather ridiculous amount of time lately watching home listings, with the naive hope that I'll find a nice-ish home with a lower mortgage that we can downgrade into, thus reducing our stash requirement and accelerating our timing. Now, have I done anything to get our current home ready to sell? Definitely not. But watching home listings sure is a fun way to pass the time...
More for DH than for me. He would really like to be done sooner. I would really like someone to upkeep the house. Maybe we will make a deal :).
Post by: Maenad on March 14, 2018, 07:35:39 PM
Post by: Linea_Norway on March 15, 2018, 02:02:14 AM
Hopefully sometime soon we will find out whether we can get a pot of money from the previous owner of our house, because he misinformed us about things that caused humidity in a cellar. We are running a case on it. We need this thing improved to make our house more attractive for sale, as we need to downsize to FIRE.
As I have written in a separate thread, my DH is reconsidering his job. He his postponing his decision until after the easter holiday. He he 2 options after that, that might pay reasonably well, but not as much as his current job. One option is to start for himself as a consultant, which he can continue as a side-hustle after FIRE.
We have agreed (legal agreement signed by both parties) on getting a pot of money from the previous owner. He still has some days left to put it on my bank account. It will not cover the whole sum, but something like 75% of the cost to have someone else improve the issue. We can choose to do more ourselves.
DH still has his job, but is getting more explicit on improving it. He hopes that his job will either become more interesting or that they will make him leave with a nice package.
My investments haven't grown since December. I have bought quite a pile of stock, but with the market dip and low Norwegian crown course, my stash is now about the same amount as it was in December. Not so motivating to not be able to update my pension sheet with a higher sum.
Post by: Nancy on March 16, 2018, 04:22:44 AM
Post by: 2Birds1Stone on March 17, 2018, 12:10:55 PM
It's something I am going to try to work my way into over the coming 6-12 months.
Here is my progress since December 2014.
$ Available annually using 4% WR vs. 12 month spending as a rolling average.
Post by: Lews Therin on March 17, 2018, 01:46:43 PM
But I ''test'' out my budget every year. It's my budget. (I plan to spend the same amount, it'll just move to different areas when FIREd)
Post by: 2Birds1Stone on March 17, 2018, 07:25:27 PM
I don't get the graph.
But I ''test'' out my budget every year. It's my budget. (I plan to spend the same amount, it'll just move to different areas when FIREd)
I was rushing this morning when I first created it and didn't label it properly.
Blue Line = Average annual spending (using a rolling 12 month average)
Red Line = Current Annual Budget assuming 4% of portfolio draw down
Post by: Linea_Norway on March 18, 2018, 06:01:15 AM
Has anyone here test driven their anticipated FIRE budget yet?
It's something I am going to try to work my way into over the coming 6-12 months.
Here is my progress since December 2014.
$ Available annually using 4% WR vs. 12 month spending as a rolling average.
In 2017 we spent on 55% of our FIRE budget. I could move FIRE foreward a bit lowering the budget. But I think our current spending is extremely low, having a year with no investments in the house and having no repairs on a 7 year and 16 year old car. But I least I now know that our FIRE budget is enough.
The other thing is that we this morning had a look at what it costs to hire a house out in the country, in outdoorsy places, with a good view and not too far in the middle of nowhere. That was surprisingly low.
We were planning to downsize to a house costing 50% of our current house. But it looks like we can either rent for cheaper than that, or buy a house in such a region for even cheaper. This would give us even more money to invest, which would give a better passive income.
The plan is now to rent houses in such places until we find a place we would live to buy a house for the next many years. They say that in Norway buying a house normally pays off after 5-7 years, compared to renting a place.
Post by: 2Birds1Stone on March 27, 2018, 01:08:59 PM
The FI projection chart shows my blue and red line crossing in October of 2019, so I'll aim for November 1st.
This is all subject to change based on markets/income/job security, so I might be back here before the year is up lol.
Post by: Lews Therin on March 27, 2018, 02:23:08 PM
I keep hoping for a deployment; it's the only way I can push my date earlier with my high SR.
Post by: 2Birds1Stone on March 27, 2018, 03:08:53 PM
Impressive with the loss of your S/O's income!
I keep hoping for a deployment; it's the only way I can push my date earlier with my high SR.
This plan excludes her 0_o
We won't be tying the knot till 2020 most likely.
Post by: Lance Hiruma on March 31, 2018, 09:27:13 AM
We won't be tying the knot till 2020 most likely.
Spring, Summer, Fall, or Winter?
Post by: asauer on April 02, 2018, 06:16:15 AM
April 1: 522,955k down from
March 1: 598,288k
Ugghhhh!!!
Post by: 2Birds1Stone on April 02, 2018, 07:58:12 AM
We won't be tying the knot till 2020 most likely.
Spring, Summer, Fall, or Winter?
No idea! We are focused on FI/Sabbatical goal more than the wedding date at this point :)
Post by: FIREby2021 on April 02, 2018, 11:11:52 AM
- For the first time, the new rental house we moved into (after selling our YUGE HCOL home) is feeling more like "home". Really starting to enjoy the space, and hosting friends over for dinner, etc. Biking & walking through the surrounding neighborhoods has been nice, not as trendy as where we were before, but fine! My commute has decreased by 5-10min, however wife's is 5-10min longer. Current rent vs. prior cost of HCOL home ownership is saving us nearly $2k monthly (!!), and our "timing" of the housing market in general appears fortunate (ha).
- Stress testing the portfolio continues!! We started to drip a small portion of HCOL home sale cash proceeds into Mr Market, and plan on a DCA approach over the coming months. We will use a chunk of the proceeds to pay off the temporary mortgage taken out on our M(L)COL future dream location home. The long term renters who moved into our future home last month seem to be pretty decent so far.
- Countdown goal / target is now @ 24 months (Apr-2020) ... two years!!!????!!!
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
FIREby2021
Post by: Linea_Norway on April 03, 2018, 01:33:15 AM
For the record, my DH also has his own funds, in addition to some cash and the rest is in our house. Our 2020 FIRE amount is 6,5 mil NOK in free assets, in addition to a paid off house that costs half of what we own now. We only need an additional 750K, which is about what we managed to save in 2017. But this is now the first time in 2018 that I notice I have managed to increase my savings instead of only pouring more money into the black hole that is my portfolio.
Post by: Maenad on April 03, 2018, 05:06:50 AM
DH: Well, our total went up $4000 in March.
Me: How much did we put in?
DH: $35,000.
D'oh.
C'est la vie. C'est le marché boursier.
Post by: Rubyvroom on April 03, 2018, 07:43:13 AM
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Jul 2017 - 34.4% (60% savings rate)
Aug 2017 - 35.5% (61% savings rate)
Sep 2017 - 37.0% (60% savings rate)
60.6% Q3 Savings Rate
Oct 2017 - 38.6% (71% savings rate)
Nov 2017 - 40.5% (69% savings rate)
Dec 2017 - 41.6% (62% savings rate)
67.2% Q4 Savings Rate
63.8% 2017 YTD Savings Rate
Jan 2018 - 44.7% (75% savings rate)
Feb 2018 - 44.3% (74% savings rate)
Mar 2018 - 44.7% (70% savings rate)
72.9% Q1 Savings Rate
Yeah it's been a pretty underwhelming quarter, but this type of volatility is what we've all hopefully prepared ourselves mentally to weather, so I'm trying not to get too up in arms about it.
Also, this savings rate is not sustainable. I have removed our additional fed/state tax payments for the first six months to more effectively front-load our 401ks. It just didn't feel right to be giving the government additional tax payments at a time when no one knew wtf had just happened with taxes. Once I'm able to get a good handle on what our liability will be for the year, I'll settle us up in the second half, so our savings rate will definitely come down as a result.
One last note for this group... keep an eye on banking products in this rising interest rate environment. We ended up liquidating the part of our E-fund that was in a CD ladder and moved it to a savings account with a different bank that was earning TRIPLE what we earned on the CDs... Some banks are keeping their products marketable with current interest rates while others are pretending nothing has happened to rates. We had gotten lazy thinking we had everything on auto-pilot, but it seems we were able to eek out a higher rate of return with minimal effort. Just food for thought!
Post by: Lews Therin on April 24, 2018, 12:51:45 PM
Moving up to FIRE 2019 :D
(Canada put out a education training benefit for military members who have served for more than 12 years, so it will cover over 1/2 my FIRE expenses for 4 years. That`s easily enough to cut another year from my FIRE date) So 12 years means I'm out Aug 2019! Cheers!
Post by: 2Birds1Stone on April 24, 2018, 06:30:02 PM
Sorry guys, I`m out!
Moving up to FIRE 2019 :D
(Canada put out a education training benefit for military members who have served for more than 12 years, so it will cover over 1/2 my FIRE expenses for 4 years. That`s easily enough to cut another year from my FIRE date) So 12 years means I'm out Aug 2019! Cheers!
Congrats and welcome to the 2019 thread =)
I'm now targeting Sept 15th (the paycheck which will max out my 12% tax bracket for 2019).
Post by: Lance Hiruma on April 25, 2018, 09:52:33 PM
Sorry guys, I`m out!Congrats. You are always welcome back here :)
Moving up to FIRE 2019 :D
(Canada put out a education training benefit for military members who have served for more than 12 years, so it will cover over 1/2 my FIRE expenses for 4 years. That`s easily enough to cut another year from my FIRE date) So 12 years means I'm out Aug 2019! Cheers!
Post by: Lews Therin on April 26, 2018, 06:02:58 AM
Congrats. You are always welcome back here :)
[/quote]
Why would you say that? That's so mean!
Post by: Lance Hiruma on April 26, 2018, 10:23:39 AM
Congrats. You are always welcome back here :)
Why would you say that? That's so mean!
[/quote]
That was not my intention at all, sorry that if that came across that way. Maybe you want to save more to do more international travel, maybe helping out a nephew, etc? I enjoy your posts here and maybe I should have appended " to post" to my last sentence.
Post by: Lews Therin on April 26, 2018, 10:36:52 AM
(Though quite serious that I really don't want the OMY syndrome.)
Post by: FIREby2021 on May 01, 2018, 10:05:30 AM
- Had a wonderful vacation to our future FIRE location! Gorgeous weather, hiking, biking, coffee / food / craft beer, saw good friends, and met some new folks. This was the first time we'd seen our new town in the spring, and were shocked at the flowers & flowering trees - so beautiful! We were also able to walk-through our home & take some measurements for future renovation project planning.
- Great month of savings, and directed another chunk toward paying down our new home's mortgage. We will eliminate the 4.125% note before FIRE, and managing savings into Mr. Market vs. mortgage loan is a balance we're still monitoring closely. Staying selective / patient with deploying monthly DCA investments from our prior HCOL home sale into the Market. Energy holdings continue to be a relative drag.
- Countdown goal / target is now @ 23 months (Apr-2020) ... I think the toughest choice we'll have to make at the time will be stepping away from a cash-flow that enables aggressive NOW giving capability, versus more of a steady, but DEFERRED giving capability.
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
FIREby2021
Post by: Linea_Norway on May 02, 2018, 04:42:06 AM
April 2018 highlights:
- Had a wonderful vacation to our future FIRE location! Gorgeous weather, hiking, biking, coffee / food / craft beer, saw good friends, and met some new folks. This was the first time we'd seen our new town in the spring, and were shocked at the flowers & flowering trees - so beautiful! We were also able to walk-through our home & take some measurements for future renovation project planning.
- Great month of savings, and directed another chunk toward paying down our new home's mortgage. We will eliminate the 4.125% note before FIRE, and managing savings into Mr. Market vs. mortgage loan is a balance we're still monitoring closely. Staying selective / patient with deploying monthly DCA investments from our prior HCOL home sale into the Market. Energy holdings continue to be a relative drag.
- Countdown goal / target is now @ 23 months (Apr-2020) ... I think the toughest choice we'll have to make at the time will be stepping away from a cash-flow that enables aggressive NOW giving capability, versus more of a steady, but DEFERRED giving capability.
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
FIREby2021
Good to hear you have chosen a great FIRE location. And you even have friends there, already.
Maybe when you are FIREd and have additional income sometimes, you would have something extra to give.
Post by: FIREby2021 on May 02, 2018, 10:12:28 AM
Good to hear you have chosen a great FIRE location. And you even have friends there, already.
Maybe when you are FIREd and have additional income sometimes, you would have something extra to give.
Thank you, yes we are really excited about our future home! Our friends just moved there recently, and it's going to be fun to visit them.
You are right re: giving. I suspect any side-gig work we might find will give us that flexibility.
Post by: Loren Ver on May 15, 2018, 12:20:56 PM
So DH and I have plans both leading up to and including 2020 so I went ahead and ordered calendars for 2019 and 2020 so we can start getting things more organized.
Oh man, we are already in May. Less than two years before DH checks out of work!
LV
Post by: rab-bit on May 15, 2018, 12:58:07 PM
DW and I have been seriously discussing going to part-time late this year or early next year. Working three days a week would be ideal and 60% of current pay would cover about 165% of our expenses. The big question is whether our employers will go for it.
Post by: Linea_Norway on May 15, 2018, 01:58:56 PM
We are currently pretty well on schedule to reach or FIRE in 2020 stash at the end of 2018. If we manage, 2019 only needs to provide enough income to cover for itself, so minimum 25% of our normal nett income.
I hope to be able to go part time in 2019. I want the month May off or workin part time, as I'm getting interested in foraging food and May is a very good time for that. And I want August and September off for my mushroom hobby. I think our employers can't really afford to let us go completely if we ask to work part time. It is rime consuming finding replacements and train them.
We also need to make more concrete plans for the future. We need to sell our house for the cash. But do we do that immediately, or do we wait until the year after? There is always a chance for a housing crash. A big crash would delay FIRE. But I have calculated for 10% drop in house value at sale.
Post by: 2Birds1Stone on May 15, 2018, 03:13:44 PM
Post by: Bateaux on May 15, 2018, 04:53:32 PM
It's quiet because everyone is contemplating OMY.
There is talk of recession looming, interest rates are rising and inflation will likely follow the spike in oil prices. I'd hoped it would come sooner but the tax bill probably pushed the downturn off a bit. A recession late 2018 and 2019 with recovery in 2020 would be perfect for me. I'd like to be hiking the Appalachian Trail next year but will wait a year if the economy goes south to take advantage of lower costs funds and stocks.
Post by: Lews Therin on May 15, 2018, 05:04:35 PM
Post by: Rubyvroom on May 15, 2018, 06:22:40 PM
In other news, we have our eye on some land we really like. I may waste most of my work day spreadsheeting to arrive at the "land = X months of extra work" calculation so we can determine if its worth it.
I've been quiet both here and in my journal because we put an offer in on that land, it was accepted after minimal haggling, and we are in a 45 day holding pattern until closing. We close next Thursday. Suffice it to say, my spreadsheeting has been kind of thwarted because it's been such an odd 2 months worth of income and expenses. We're buying the land with cash so I reduced our 401K front-loading to minimize the amount of investments we'd have to pull to fund it. After the dust settles and we have a few months of normal paychecks and expenses, I'll be able to recast our FIRE date. No OMY here hopefully. We're still targeting 2020, it may just be fall versus spring now, because now all of a sudden we're talking about getting a tractor and drawing up plans for our pole barn and crap haha. This land is part of the end-game though, so we're pretty stoked.
Post by: 2Birds1Stone on May 15, 2018, 08:03:44 PM
A recession late 2018 and 2019 with recovery in 2020 would be perfect for me. I'd like to be hiking the Appalachian Trail next year but will wait a year if the economy goes south to take advantage of lower costs funds and stocks.
What if we have another 5-10 year period with negative/neutral returns? Will you keep putting off life after work?
Hiking the AT is really really cheap. Just saying.
Post by: Bateaux on May 15, 2018, 08:47:32 PM
A recession late 2018 and 2019 with recovery in 2020 would be perfect for me. I'd like to be hiking the Appalachian Trail next year but will wait a year if the economy goes south to take advantage of lower costs funds and stocks.
What if we have another 5-10 year period with negative/neutral returns? Will you keep putting off life after work?
Hiking the AT is really really cheap. Just saying.
If I extend past 2020 then I may as well go on to 2023 at age 55, which is the official early retirement age with my employer. There would be better benefits staying till 55 but that takes more healthy years from my retirement. You're right that the AT is cheap, however we'd still have equal or greater expenses since my wife would be home.
Predictions on the next recession time or length is little more than a wild ass guess. It will happen when it comes. I'm 80\20 stocks\bond funds and will likely just keep that going forward.
Post by: DreamFIRE on May 15, 2018, 09:07:09 PM
I'm looking to June 2019 for now, but if the economy starts to go to shit and my investments drop over the next year, I might have to join the 2020 cohorts. I'm slowly moving to a more conservative AA, but I can only take so much of a hit before I will OMY, which is sometimes tempting even if the stash is doing well. I'm still planning for 2019 for as long as I can - at least FIRE doesn't seem so far off that way.
Post by: Linea_Norway on May 16, 2018, 01:06:06 AM
I'm looking to June 2019 for now, but if the economy starts to go to shit and my investments drop over the next year, I might have to join the 2020 cohorts. I'm slowly moving to a more conservative AA, but I can only take so much of a hit before I will OMY, which is sometimes tempting even if the stash is doing well. I'm still planning for 2019 for as long as I can - at least FIRE doesn't seem so far off that way.
How about doing OMY part time working?
Post by: Linea_Norway on May 16, 2018, 01:13:06 AM
A recession late 2018 and 2019 with recovery in 2020 would be perfect for me. I'd like to be hiking the Appalachian Trail next year but will wait a year if the economy goes south to take advantage of lower costs funds and stocks.
What if we have another 5-10 year period with negative/neutral returns? Will you keep putting off life after work?
Hiking the AT is really really cheap. Just saying.
I am thinking that maybe with a recession we should do more part time consulting. We also plan to do a lot of cheap stuff after FIRE.
Post by: Loren Ver on May 16, 2018, 06:56:12 AM
A recession late 2018 and 2019 with recovery in 2020 would be perfect for me. I'd like to be hiking the Appalachian Trail next year but will wait a year if the economy goes south to take advantage of lower costs funds and stocks.
What if we have another 5-10 year period with negative/neutral returns? Will you keep putting off life after work?
Hiking the AT is really really cheap. Just saying.
I am thinking that maybe with a recession we should do more part time consulting. We also plan to do a lot of cheap stuff after FIRE.
DH and I are also hoping for a 2018/20119 recession. We could really use a sale on stocks as this is our biggest contribution year.
I am still wobbling on my exit. OMY really kinda freaks me out, but as the high income earner with potential bonuses depending on departure dates, I'll need to be strategic in my exit.
Some good news for me (bad for others...). My company is becoming another company so when this officially happens the pensions will not longer be a thing, so they can be cashed out. If I can have the company hold it until DH retires, then our income will be down and taxes wont eat as much. Then this will act as our cash buffer for reducing our early sequence of return risks. It should be about 1.5x our minimum yearly spend, so not a bad windfall.
We are also expecting layoffs in September. My site should not be in the cross hairs, BUT since i am the newest in the group, I could be the first one out regardless of site. Then OMY becaome TLY (two less years).
In other news, we have our eye on some land we really like. I may waste most of my work day spreadsheeting to arrive at the "land = X months of extra work" calculation so we can determine if its worth it.
I've been quiet both here and in my journal because we put an offer in on that land, it was accepted after minimal haggling, and we are in a 45 day holding pattern until closing. We close next Thursday. Suffice it to say, my spreadsheeting has been kind of thwarted because it's been such an odd 2 months worth of income and expenses. We're buying the land with cash so I reduced our 401K front-loading to minimize the amount of investments we'd have to pull to fund it. After the dust settles and we have a few months of normal paychecks and expenses, I'll be able to recast our FIRE date. No OMY here hopefully. We're still targeting 2020, it may just be fall versus spring now, because now all of a sudden we're talking about getting a tractor and drawing up plans for our pole barn and crap haha. This land is part of the end-game though, so we're pretty stoked.
Glad you got the land without much haggle!
I recently updated in the 2019 FIRE cohort, as I am between two camps.
We are currently pretty well on schedule to reach or FIRE in 2020 stash at the end of 2018. If we manage, 2019 only needs to provide enough income to cover for itself, so minimum 25% of our normal nett income.
That's not a bad place to be!
LV
Post by: DreamFIRE on May 16, 2018, 12:04:16 PM
I'm looking to June 2019 for now, but if the economy starts to go to shit and my investments drop over the next year, I might have to join the 2020 cohorts. I'm slowly moving to a more conservative AA, but I can only take so much of a hit before I will OMY, which is sometimes tempting even if the stash is doing well. I'm still planning for 2019 for as long as I can - at least FIRE doesn't seem so far off that way.
How about doing OMY part time working?
Yeah, I've posted about that in the 2019 thread in the past, IIRC. The thing is, I don't know if that will be an option where I work now, and I would take a big wage cut to work somewhere else vs. the senior position I am in at my current company. It's a big enough organization that positions are budgeted for, and I am the only one in my position, and it's a full time job. They might be willing to keep me on in a very limited role until a new person is hired and for training the new employee, but beyond that, who knows, and I don't know how many hours of work I would get - they might try to phase me out as soon as possible. I don't dare suggest the interest in it now, or they might do some emergency budgeting to bring in someone else to work with me well in advance of me wanting to FIRE/partime, and I certainly don't want to deal with that for an extended period of time while I'm still working full time. So I won't really know if that's an option until I'm prepared to say I'm retiring from full time work.
Post by: DreamFIRE on May 16, 2018, 04:00:12 PM
A recession late 2018 and 2019 with recovery in 2020 would be perfect for me. I'd like to be hiking the Appalachian Trail next year but will wait a year if the economy goes south to take advantage of lower costs funds and stocks.
What if we have another 5-10 year period with negative/neutral returns? Will you keep putting off life after work?
Hiking the AT is really really cheap. Just saying.
I am thinking that maybe with a recession we should do more part time consulting. We also plan to do a lot of cheap stuff after FIRE.
DH and I are also hoping for a 2018/20119 recession. We could really use a sale on stocks as this is our biggest contribution year.
Whether I would personally benefit from a recession or not, I would never wish on one to come. I'm thinking about the greater good, but it can take a long time for stocks to recover. We have had lost decades of no real gains in the past, and they leave even more people hurting as they lose jobs, drops in business, not finding jobs, etc. A recession is sure to come, they always do, but I hope it's still years away.
Post by: BFGirl on May 17, 2018, 08:29:01 AM
Post by: BlueMR2 on May 17, 2018, 05:37:28 PM
Post by: Rcc on May 20, 2018, 07:06:31 PM
1. State of healthcare here in the US
2. My DSs progress on finishing college
3. Sequencing whether DW or I RE first
4. Do I take last year or OMY to eliminate mortgage then (not now)
Good news, FI should land in 2020, making these factors easier to solve.
Post by: Loren Ver on May 23, 2018, 03:23:17 PM
Post by: Linea_Norway on May 25, 2018, 03:42:39 AM
Apparently May 2020 is the time to retire!
Not for me. It is either beginning of 2020 or somewhere in 2019.
Post by: Loren Ver on May 25, 2018, 05:13:06 AM
Post by: Lance Hiruma on May 26, 2018, 08:08:41 AM
Apparently May 2020 is the time to retire!
Why May though?
Post by: 2Birds1Stone on May 26, 2018, 09:46:34 AM
Many can make enough earned income to max out tax advantaged space, take advantage of a really low tax bracket, and in the Northern Hemisphere, enjoy a nice summer off =)
Post by: Rcc on May 26, 2018, 01:31:37 PM
Post by: Unique User on May 26, 2018, 03:35:22 PM
@DeanHedlund,
Many can make enough earned income to max out tax advantaged space, take advantage of a really low tax bracket, and in the Northern Hemisphere, enjoy a nice summer off =)
Yep. May 2020 for us for the above reasons. Also because we’ll put our house on the market for the summer selling season and get ready to be nomads. Not sure if we’ll truly be FIRE’d as we plan to do some part time consulting.
Post by: Lance Hiruma on May 28, 2018, 08:45:59 AM
@DeanHedlund,
Many can make enough earned income to max out tax advantaged space, take advantage of a really low tax bracket, and in the Northern Hemisphere, enjoy a nice summer off =)
Yep. May 2020 for us for the above reasons. Also because we’ll put our house on the market for the summer selling season and get ready to be nomads. Not sure if we’ll truly be FIRE’d as we plan to do some part time consulting.
I see. Thanks. Many of us are shooting for April because (1) annual bonus and shares paid in March, (2) 401K eligible matches are quarterly so 1 day of working in April will qualify for Q2 match.
Post by: Linea_Norway on May 28, 2018, 11:42:49 AM
@DeanHedlund,
Many can make enough earned income to max out tax advantaged space, take advantage of a really low tax bracket, and in the Northern Hemisphere, enjoy a nice summer off =)
Yep. May 2020 for us for the above reasons. Also because we’ll put our house on the market for the summer selling season and get ready to be nomads. Not sure if we’ll truly be FIRE’d as we plan to do some part time consulting.
I recently I heard a Norwegian financial podcast where they talked about selling houses. Most villas are put on the market i May when the snow is gone. The expert thought that this gives a lot of competition. He thought it might be smart to put your house on the market a month earlier to avoid the large wave of villas on sale. He thought buyers have some phantasy to imagine what a garden could look like.
We are planning in the near future to take some good quality pictures of our garden when it looks nice and summerly with the flowers blooming. We can use the pictures if we want to sell earlier.
Post by: DreamFIRE on May 28, 2018, 12:14:15 PM
@DeanHedlund,
Many can make enough earned income to max out tax advantaged space, take advantage of a really low tax bracket, and in the Northern Hemisphere, enjoy a nice summer off =)
Yep. May 2020 for us for the above reasons. Also because we’ll put our house on the market for the summer selling season and get ready to be nomads. Not sure if we’ll truly be FIRE’d as we plan to do some part time consulting.
I see. Thanks. Many of us are shooting for April because (1) annual bonus and shares paid in March, (2) 401K eligible matches are quarterly so 1 day of working in April will qualify for Q2 match.
For me, bonus is paid in February, and I get a fresh new 4 weeks of vacation at the end of Feb, which means I'll get a pay-out for that. But the first week of June will allow me to get a medical exam out of the way while still on the company insurance plan and be off for the summer. If I can move the exam up a month, I will so that I can FIRE in early May instead, but I've found them sticklers in the past with the designated waiting periods between exams, whether medical, dental, or vision. I'm still hoping for 2019 at this point.
Post by: Unique User on May 28, 2018, 01:57:48 PM
@DeanHedlund,
Many can make enough earned income to max out tax advantaged space, take advantage of a really low tax bracket, and in the Northern Hemisphere, enjoy a nice summer off =)
Yep. May 2020 for us for the above reasons. Also because we’ll put our house on the market for the summer selling season and get ready to be nomads. Not sure if we’ll truly be FIRE’d as we plan to do some part time consulting.
I recently I heard a Norwegian financial podcast where they talked about selling houses. Most villas are put on the market i May when the snow is gone. The expert thought that this gives a lot of competition. He thought it might be smart to put your house on the market a month earlier to avoid the large wave of villas on sale. He thought buyers have some phantasy to imagine what a garden could look like.
We are planning in the near future to take some good quality pictures of our garden when it looks nice and summerly with the flowers blooming. We can use the pictures if we want to sell earlier.
That is a good idea to take pictures during a different season. We’re planning to put it on the market in June. Ideal will be to sell in late July or august to try to coincide with our daughter returning to college. The market is hot here and houses sell quickly. But of course nothing ever works out as planned. I think our word for the year in 202 will be flexibility.
Post by: MrMoogle on May 30, 2018, 01:39:12 PM
2020 is my date. I'll turn 35. I'll jump from 60% to 100% vesting. I'll have ~5 years of spending to know my actual annual expenses. Right now it's estimated, since I've been living overseas. Also, it gives time for ACA to settle out, so I can estimate that more accurately.I recently hit 33x (3%) of the last number I calculated, but some of that money is not vested yet. Also, I'm less sure on my expenses, due to health reasons. I may end up moving to part time soon...
I hit 25x my estimated expenses this year, so I would jump on an offer to switch to part time. I want more than 25x for a 60 year retirement, and if I have a family one day, it will no longer be 25x.
Post by: Loren Ver on May 30, 2018, 03:41:28 PM
Apparently May 2020 is the time to retire!
Why May though?
Sure tax and other financial reasons, but mostly because we are shooting for the day before DH turns 41. So he is actually retiring on a Wednesday.
Post by: Linea_Norway on May 31, 2018, 12:50:55 AM
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 2019 thread.)
Post by: FIREby2021 on June 01, 2018, 02:15:29 PM
- Howdy folks! After some slower progress during 1Q-18, things have picked up. Monthly savings goals met & portfolio performance has improved.
- We are still directing some after-tax capital and paying down our (future LCOL) home's mortgage principle (4.125%); we do not plan to carry a mortgage into FIRE. We view the current high-CAPE environment as a reasonable opportunity to pay down the principle vs. solely making equity investments. We are staying selective with after-tax equity investments from our prior HCOL home sale; doing our best to balance the two.
- It has been such a busy 1H of the year, that we are looking forward to a slower summer. We have almost finished our "Whole30" diet reset, which has given us better perspective on how we eat and how different foods make us feel. Lost a bit of (needed) weight and have been really active, and I hope to keep this up as we get into the hotter months.
- Countdown target is now @ 22 months (Apr-2020) ... this could get too real, very soon ... have a great month everyone!
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
FIREby2021
Post by: Linea_Norway on June 05, 2018, 01:41:29 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.
Post by: Loren Ver on June 05, 2018, 05:02:16 AM
I'm glad you found the error now and not later. Sorry you have to push your date back though, that is not so fun.
LV
Post by: TheContinentalOp on June 05, 2018, 07:19:31 AM
Under 400 work days to go, still anticipating March 20, 2020 as the end.
Post by: Meowmalade on June 14, 2018, 11:52:11 AM
Apparently May 2020 is the time to retire!
Count us in for May 8th, 2020 :)
I picked this date for the following reasons:
1) I'm eligible for a 1-month sabbatical in Jan 2020
2) Annual bonus is in Feb
3) RSU grants are in late April and early May
4) We hope to hit our target number AND pay for expensive renovations (which include extensive foundation work) in the next two years
Post by: letsdoit on June 18, 2018, 01:19:48 PM
Post by: Linea_Norway on June 18, 2018, 01:29:59 PM
is anyone FIRE with less than 1 million?
Yes, less than 1 mil USD, counting the loose money to be invested. But that is beside owning a downpaid house that will cost max half of our current house. In total house value + investment money is approx 1 mil USD. We will both be receiving a pension from the age of 67. And probably receive 2 inheritages at an unpredictable time in the future.
Edit: sorry, I thought that you had asked: who is planning to FIRE? For me, only planning so far.
Post by: Lews Therin on June 18, 2018, 01:33:58 PM
Post by: Rcc on June 22, 2018, 04:03:42 PM
is anyone FIRE with less than 1 million?
Yes, here. I’m considering FIRE on taxable account only ( 500-600kish then ), or taxable plus 72t my 401k (800-900k ish then).
Final answer will be in 2020 most likely.
Post by: SwordGuy on June 22, 2018, 10:56:33 PM
Y'all are closer than you think to 2020!
Post by: Loren Ver on June 23, 2018, 04:41:18 AM
is anyone FIRE with less than 1 million?
This describes us. Even if we include our house we will be less than 1 million when we pull the rip cord.
I hit my "If the office is destroyed by a meteorite, I won't look for another job" number.
Woot woot! Congrats!!
So DH gave himself a three day weekend while I was on a business trip. When I got back he asked if we could retire in 2019 instead of 2020. Waiting another year just seemed like way too much time to be sitting in an office. We did lots of math and made a May 2019 plan. We have a plan A for May 2019, a plan B which is also May 2019, and Plan C is to move the date back to May 2020.
Since he plans to retire on his 40th Birthday now, his last day will be on a Tuesday.
I think I need to switch Cohorts....
SOOOO EXCITING!!!!
Post by: Linea_Norway on June 23, 2018, 04:52:36 AM
So DH gave himself a three day weekend while I was on a business trip. When I got back he asked if we could retire in 2019 instead of 2020. Waiting another year just seemed like way too much time to be sitting in an office. We did lots of math and made a May 2019 plan. We have a plan A for May 2019, a plan B which is also May 2019, and Plan C is to move the date back to May 2020.
Since he plans to retire on his 40th Birthday now, his last day will be on a Tuesday.
I think I need to switch Cohorts....
SOOOO EXCITING!!!!
Indeed exciting. Forty is a really young age to retire. You might have a good chance for side hussles coming your way as well.
As you know, I am also between the 2020 and 2019 cohort. It really depends on how much we manage to save if it is late 2019 or early 2020. And how much we get for selling the house. But we probably don't do that before retiring, because of the stress that causes.
Post by: Loren Ver on June 23, 2018, 06:12:38 PM
Indeed exciting. Forty is a really young age to retire. You might have a good chance for side hussles coming your way as well.
As you know, I an also between the 2020 and 2019 cohort. It really depends on how much we manage to save if it is late 2019 or early 2020. And how much we get for selling the house. But we probably don't do that before retiring, because of the stress that causes.
That sounds like a good plan. Selling a house will probably be less of a headache if you do it post retirement. Good luck with your savings!
Post by: letsdoit on June 25, 2018, 11:55:47 AM
is anyone FIRE with less than 1 million?
Yes, here. I’m considering FIRE on taxable account only ( 500-600kish then ), or taxable plus 72t my 401k (800-900k ish then).
Final answer will be in 2020 most likely.
that's at least 1.3 mill, or am I missing something ?
Post by: Freedomin5 on June 25, 2018, 04:04:56 PM
is anyone FIRE with less than 1 million?
Yes, here. I’m considering FIRE on taxable account only ( 500-600kish then ), or taxable plus 72t my 401k (800-900k ish then).
Final answer will be in 2020 most likely.
that's at least 1.3 mill, or am I missing something ?
OP said taxable plus 401k is 800-900. So OP has ~300k in 401k. And they are planning to FIRE on 800-900k.
Post by: Rcc on June 26, 2018, 07:51:13 AM
is anyone FIRE with less than 1 million?
Yes, here. I’m considering FIRE on taxable account only ( 500-600kish then ), or taxable plus 72t my 401k (800-900k ish then).
Final answer will be in 2020 most likely.
that's at least 1.3 mill, or am I missing something ?
OP said taxable plus 401k is 800-900. So OP has ~300k in 401k. And they are planning to FIRE on 800-900k.
Yep, thats right. Thanks!
Post by: FIREby2021 on June 30, 2018, 11:11:47 AM
- Halfway point of 2018! The 2Q certainly treated us better than the 1Q from a NW progress perspective. Monthly savings goals met & portfolio performance has improved.
- It is getting really hot & humid down here in SE TX ... this is the first summer since we secured our future LCOL home (not in SE TX), and I am already missing their weather. More motivation to stick with the plan! While we continue to rent down here, we are aggressively paying down our future LCOL home mortgage (4.125%); we do not plan to carry a mortgage into FIRE.
- Summer gardening is a challenge here, but we are somehow keeping the kale & chard greens + herbs going. The fig tree that we inherited at our new rental house is KILLING IT - I bet I've harvested over 200 fresh figs so far, and they keep coming. It's been fun to snack & cook with these, and we've given a bunch of them away to friends. The citrus trees (meyer lemon & kumquat) are producing green fruit, so that promises to be a fun harvest in the fall.
- Despite the heat, I've been pretty consistent with my eating & exercise program this year. I turn the big 40 later this summer, and hope to be back in a healthy, sustainable place. I went through a back injury a couple years ago, and its been a long journey. Very thankful
- Taking some steps to 'stretch' myself during July ... I am doing a public speaking/teaching event, and also pursuing a certification related to my potential future side-gig. I'm not an experienced public speaker, however the prep has been intense & rewarding. I'm nervous but also looking forward to both, as these are not things I'd normally do!
- Our ideal countdown target is now @ 21 months (Apr-2020) ... have a great July 4th week everyone!
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
FIREby2021
Post by: steveo on June 30, 2018, 06:28:40 PM
I am going to push out my retirement date to 2022. It might happen earlier than that but I want to resign myself to working until 2022 and if it comes earlier that is better for me. The main reason being that our expenses appear to be moving upwards with 2 teenagers costing us more money. I don't want to have an estimate of expenses that are too low which in my opinion is that main reason why FIRE will fail.
Still wifey will retire in 2020.
Post by: FIREby2021 on July 02, 2018, 11:50:58 AM
For example, in the future location we will:
-> Not have a mortgage + interest payment
-> Reduce from 2 cars to 1 car (walkable, bike-friendly location + no commuting)
-> No housekeeper
Now that we have 6 months of data (1H-2018), we can already see we'll at least be "close" to our preferred annual expenses (this budget includes travel, healthcare, home maintenance savings fund, etc.), so that's been a nice confirmation.
The other thing we've seen is a confirmation of reaching our savings goals for the 1H-2018. Current breakdown (after taxes) looks like this:
-> 67% SAVINGS (GOAL = 65%)
-> 23% SPENDING
-> 10% GIVING
I'm hopeful by EOY 2018 to see the GIVING number increased closer to 12%.
Anyway, some random thoughts as we are starting to accumulate some usable data @ mid-year on our expenses this year.
Post by: FireLane on July 12, 2018, 09:02:48 PM
Edit: my request for 80% work is granted.
Congrats, Linda! I just started 80% time too. It's been great so far, I should've done this a long time ago.
Post by: Richmond 2020 on July 24, 2018, 01:44:20 PM
Post by: LostGirl on July 25, 2018, 08:29:36 PM
Plan is to kick some #@# in the next two years, save, save, save, hit eject and see what happens.
Post by: BlueMR2 on July 27, 2018, 03:54:54 PM
Post by: FIREby2021 on August 01, 2018, 11:54:05 AM
- Just a brief update this month; all savings goals met!
- A very hot and dry month here in SE TX ... summer gardening has been tough, and we're looking forward to the fall harvest of citrus (meyer lemon & kumquat) and more bountiful salad greens.
- Staying consistent with my eating & exercise program this year. I've lost 11 pounds in the past 2-3 months and am feeling stronger. August is the month I turn 40 (!!) and want to start this decade off in a healthy place.
- Our ideal countdown target is now @ 20 months (Apr-2020)! Our previous (original) target is still out there at 35 months (Jul-2021).
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
JUL 2018: 83.9%
FIREby2021
Post by: MoneyTree on August 09, 2018, 06:36:54 PM
Just passed 900K in various accounts, about 700k of that is in Taxable. We rent, so zero in Home Equity.
Expenses are ~45K.
Reason I say finish line is moving further away is that we are expecting our first child this December! So our expenses are gonna go up and we are going to lose my wife's income at the same time. She might go back to work eventually, but in a very limited capacity.
All of this will slow us down in terms of FIRE, and will probably push us into the 2021 cohort, but I'm still hoping to make it in 2020 with you guys!
Post by: TheContinentalOp on August 28, 2018, 11:03:53 AM
Post by: FIREby2021 on September 03, 2018, 06:42:54 PM
- Despite the heat & humidity, it was a really nice month. I'm now an uncle (!!), football season is now upon us, I celebrated a "milestone" birthday (39*, ah-hem), experienced travel to a new country (India), and we met all of our savings goals!
- The trip to India was for business, and despite jet-lag, was a lot of fun ... I hope to return later this year. We are about to enter a season with some domestic travel to see extended family, as well as an October trip back to visit friends at our FUTURE FIRE location. I have a feeling the last 4 months of 2018 are going to FLY by!
- Regarding my eating & exercise program this year, I've kept the 11 pound weight loss off, and am feeling great. My commitment to the program helps reinforce the work-life balance I enjoy, and most weeks I target 2x yoga classes and 3-4 weight training / higher intensity sessions. Sustainable is the name of the game for me ... in our future FIRE location I hope to enjoy so much more outdoors, but this is fine for now.
- Our ideal countdown target is now @ 19 months (what!!!) Our old (original) target is still out there at 34 months (Jul-2021).
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
JUL 2018: 83.9%
AUG 2018: 84.4%
FIREby2021
Post by: onlykelsey on September 04, 2018, 07:16:23 AM
Responding to this post two years later (ha!). I am still in that job, and now have a 1.5 year old. Still struggling with the same question.Now that we have critical mass in this post, I thought it would be interesting to hear how everyone was dealing with 2016, given we are four years from FIRE.
I will start. I feel helpless. This is good news because I don't think I can screw up my timeline. But bad news because in the past I have been able to take action to accelerate the timeline. Now I think I am as efficient as I'm willing to go.
So now I sit and I wait. Perhaps since I can't impact my financial situation, I should be working on the emotional change that I will soon experience. Four years seems so far away.
I'm not sure I follow your question. Do you mean the turbulence in the markets in 2016? The S&P 500 is about where it was when the year started, no? That doesn't seem so bad.
As for your other questions, 2020 is a very soft timeline for me at this point, so I don't think I'm really thinking about the emotional changes. I'm hoping to have two kids by then, which will probably drastically alter my life and perhaps my timeline. That's okay. I'm 29 and don't need to rush too much.
For me, my big question is how long I stick it out in my brutal, on call 24 hours a day, come back from your family funeral early job. If I'm on more of a 2022 or 2024 schedule, it probably makes sense to look for a more humane job for the interim. if I really want to accelerate my plans and deal with the pain, maybe I should stick it out at this one for so long as they'll have me.
To risk sounding like a therapist, my question was...how does this make you feel?
We all have something in common with our expected FIRE date, so I expect we will be having similar issues, thoughts, fears, excitement, etc.
I invested about as much as I predicted (although my NW went up by a lot more as well as I paid down debt and my apartment went up in value). My marriage is in shambles (for unrelated reasons), so now in addition to the job question, I spend a lot of time on the "do I stay or do I go" question, as well. There are at least four outcomes: Leave him, leave job; leave him, keep job; keep him, leave job; leave him, leave job. I'm not sure which decision to make first.
Post by: 2Birds1Stone on September 04, 2018, 03:57:34 PM
I spend a lot of time on the "do I stay or do I go" question, as well. There are at least four outcomes: Leave him, leave job; leave him, keep job; keep him, leave job; leave him, leave job. I'm not sure which decision to make first.
It's best to rip off a bandaid swiftly.
Post by: onlykelsey on September 04, 2018, 04:03:37 PM
I spend a lot of time on the "do I stay or do I go" question, as well. There are at least four outcomes: Leave him, leave job; leave him, keep job; keep him, leave job; leave him, leave job. I'm not sure which decision to make first.
It's best to rip off a bandaid swiftly.
But which bandaid first? Upending my career and family at once seems ill-advised, ha.
Post by: LostGirl on September 04, 2018, 04:16:18 PM
I spend a lot of time on the "do I stay or do I go" question, as well. There are at least four outcomes: Leave him, leave job; leave him, keep job; keep him, leave job; leave him, leave job. I'm not sure which decision to make first.
It's best to rip off a bandaid swiftly.
But which bandaid first? Upending my career and family at once seems ill-advised, ha.
I mean, not that I know anything about your situation but work stress and having a 1.5 year old def weighs on a marriage. I would ditch the job first and see if your stress levels impact your quality of life. I know for me, this is HUGE and one of my prime drivers for RE. I am a different person when I have to work this job...
Post by: FInding_peace on September 05, 2018, 09:40:19 PM
It's easy to be blind to our own irritability under stress. We live with it all day and so become used to it. We can also start to become emotionally absent with our SOs without even noticing it, causing stress in them that can then lead to all sorts of undesirable cold, angry, clingy, or desperate behavior.
I found that when I quit academia, I immediately became much calmer, more patient, and more present for the people in my life. Whatever else is going on, those kinds of changes can only help your relationship.
Absolutely leave the job first.
Post by: catccc on September 14, 2018, 03:18:40 PM
I have been feeling extremely unmotivated and disliking work, and naturally that means I spend more time daydreaming about FIRE...
I just turned 39 last month, so if I can manage to pull the plug before August of 2020, I'll still be 40 when I retire. A nice round number.
At the end of this year, I will have put 15 years into my working life (did undergrad for 5.5 years, was a SAHM mom for a year). At the end of 2020, it will be 17 years of work.
Eager to see everyone get there, even if I don't! Go team!
Post by: BlueMR2 on September 16, 2018, 03:32:19 PM
Post by: Gumption on September 20, 2018, 10:23:02 AM
I realize that this kinda depends on your age and what bucket you will be taking your funds out of.
I am realizing lately that I am still in the mode of dropping as much money into tax deferred accounts as I can, when in reality, I wont be able to access them for 20 years. In reality, I should have stopped putting money into my 401k years ago and used these funds for the years before I can access the tax deferred accounts.
Partly this is out of fear of pulling the trigger on FIRE, I know.
What i am trying to say here is that if I am indeed part of the 2020 cohort, I should be adjusting my plan here. After years of saving everything at all costs and putting priority into tax deferred, I need to act differently.
Thoughts?
Post by: FIREby2021 on September 20, 2018, 11:34:57 AM
With around two years to go until FIRE, how have you all adjusted your paths to accommodate?
Thoughts?
Interesting thoughts. I think there have been a few shifts we've been making over past 18 months or so:
1) Aggressively adding to the after-tax stash pile. We were similar in that historically we maximized pre-tax & paying off (mortgage) debts, but we have become increasingly aggressive in building the after-tax funds to enable flexibility.
2) Proactively went ahead and made "the housing move". We sold our HCOL home here (Feb 2018) for above & beyond expectations, and moved into a below-market rate rental owned by a good friend. Back of the napkin cash flow savings is $40k annually (!!), plus we've accomplished the downsize. Our future "MCOL" home has a long-term renter (Mar 2018) that largely covers carrying costs through Q4-2019.
3) Laying groundwork for flexibility within our future endeavors. We are evaluating education & experiences inline with our core values and skills to equip ourselves to move into things more in line with our interests & passions. I'm laying the groundwork to potentially position myself for flexible and/or remote work arrangements heading into 2019/2020. Keeping options open and creating new ones will be helpful as we plan.
4) Something we haven't yet done is investigate our healthcare strategy. It's in the FIRE budget, but carries the most uncertainty. Need to do!
FIREby2021
Post by: TempusFugit on September 20, 2018, 11:51:10 AM
With around two years to go until FIRE, how have you all adjusted your paths to accommodate?
I realize that this kinda depends on your age and what bucket you will be taking your funds out of.
I am realizing lately that I am still in the mode of dropping as much money into tax deferred accounts as I can, when in reality, I wont be able to access them for 20 years. In reality, I should have stopped putting money into my 401k years ago and used these funds for the years before I can access the tax deferred accounts.
Partly this is out of fear of pulling the trigger on FIRE, I know.
What i am trying to say here is that if I am indeed part of the 2020 cohort, I should be adjusting my plan here. After years of saving everything at all costs and putting priority into tax deferred, I need to act differently.
Thoughts?
Im in the 2022 cohort but i try to keep up with the the other close cohorts to see just this sort of question and responses.
Ive been looking at my own arrangement of tax-deferred vs post tax compared with my expected spending after RE.
While there is plenty of information about how to access tax-deferred funds before 59-1/2, some of those require advance planning. The Roth ladder is a five year head start program, so folks need to be thinking about how to bridge any gap between leaving work and accessing those funds.
I think most retirement plans through an employer (e g 401k) are locked up until you leave that employer, so you can't begin the roth ladder until you actually quit- meaning you cant convert any of those funds to the traditional IRA then Roth format per the program. That leaves a 5 year gap to cover. I am not an expert, so i have to do more research on this topic, but i think that means i will need 5 years of spending in post tax accounts.
Ive currently got something like 3 years worth, so i'll have to track that as my date approaches.
There are other options for accessing retirement account funds without incurring the penalty (subtantially equal payments), but they require some planning because yu can get locked into a number that doesnt work for you.
Post by: markbike528CBX on September 20, 2018, 12:57:40 PM
You CAN access tax deferred prior to 59.5 as 72(t) / SEPP.
I am realizing lately that I am still in the mode of dropping as much money into tax deferred accounts as I can, when in reality, I wont be able to access them for 20 years. In reality, I should have stopped putting money into my 401k years ago and used these funds for the years before I can access the tax deferred accounts.
Partly this is out of fear of pulling the trigger on FIRE, I know.
What i am trying to say here is that if I am indeed part of the 2020 cohort, I should be adjusting my plan here. After years of saving everything at all costs and putting priority into tax deferred, I need to act differently.
I'd agree you should prioritize post tax savings, specifically, mutual funds that give Qualified capital gains and dividends, as these are taxed at 0% for mustachian incomes/spending. Get whatever match/tax reduction makes sense to you, and start post-tax post-haste.
Interest bearing stuff is less useful.
Post by: catccc on September 20, 2018, 04:15:12 PM
This is the first time I'm actually thinking about logistics around drawdown, so this is a fun post for me. Glad to see we are in good shape with enough accessible funds. But I definitely need to think more about taxes and maximizing our annual allotment of tax free income.
Post by: ixtap on September 20, 2018, 04:25:56 PM
Post by: Bateaux on September 20, 2018, 06:36:28 PM
Post by: catccc on September 21, 2018, 05:38:20 AM
Post by: Bateaux on September 21, 2018, 07:11:29 AM
@Bateaux what does fat fire mean for you? (Aka, what’s your target # and drawdown rate?)
Since we've crested 2 million in investment worth and considering the 4% rule that would provide 80K right now. We just bought another home in Florida and have a mortgage of 190K on it. Our current home in Louisiana is paid off and it's sale would easily cover the Florida mortgage as well as give us some cash. The 190k mortgage is our only debt.
If we pay off the mortgage by selling our current home we can probably live pretty good on a 2% withdrawal or 40k annually. 40k with no debt and grown kids is pretty Fat Fire. We'll have the ability to ramp spending when needed. My reason for continuing to work is for health care. I currently have a great employer plan and continue to cover my young adult children. Since I'm expecting health care to cost us 20 to 25 thousand a year eventually I'm allocating 500k of our stash just to service that cost. So to summarize I plan to spend 40k annually outside of health care. Which are the expenses I can control.
Post by: Gumption on September 21, 2018, 07:43:44 AM
My 401k is with Vanguard and they don't offer the mega backdoor Roth option.
The 5 year Roth laddering only seems to apply if your income is below a certain threshold (like if you are no longer working anymore)
Ill work a little post 2020 (perhaps ~10hrs a week) -- just enough to cover expenses and not dip into savings . I would only do this for another 4-5 years though. Kids will still be in the house at this point, so I feel like keeping at least a minimal connection to my consulting pipeline would allow me to sleep easier at night.
I suppose there are three options for those of us at this stage:
1) Just keep working and socking as much away as you can. (Outwardly I am all about FIRE, inwardly I am frightened to jump into the abyss, so Ill continue to do the life of "quiet desperation" thing)
2) Downshift to working a lot less -- just enough to cover expenses and not dip into savings (I am too scared to FIRE, but I'll dip my toe in!)
3) Pull the plug and go FIRE. (This is the whole idea behind MMM after all, right?)
I know I am being simplistic, but I think the general idea still applies.
Post by: TempusFugit on September 21, 2018, 07:51:22 AM
Ill have to check out the 72(t) / SEPP information.
My 401k is with Vanguard and they don't offer the mega backdoor Roth option.
The 5 year Roth laddering only seems to apply if your income is below a certain threshold (like if you are no longer working anymore)
Depends on what you mean here. The Roth ladder (or pipeline) works regardless of your income, it's just that until you actually separate from your employer, you may not be able to start the conversion process from any employer sponsored retirement plan, since you would be converting some portion of your 401k (an amount equal to a year of spending) into a traditional IRA and then into a Roth (and paying the taxes on that amount). Then you let it sit in that Roth for 5 years before you withdraw it to spend.
The tax part (when you convert) is perhaps where you are thinking about income, as your tax rate would be 0% if your yearly income is less than 37.5K (single filer).
Mad Fientist does a much better job of explaining it.
https://www.madfientist.com/how-to-access-retirement-funds-early/ (https://www.madfientist.com/how-to-access-retirement-funds-early/)
Post by: Gumption on September 21, 2018, 10:13:55 AM
I'd love to see some real life stories on this. Seems like there would be some 2020ers out there who are already in the process of doing the ladder.
Post by: ixtap on September 23, 2018, 10:06:15 AM
We are right at our original FIRE number now, but realize we might want a few more luxuries as we age. As many have noted, it is hard to stop when your monthly savings dwarfs what you can hope for in another career.
Post by: Linea_Norway on September 23, 2018, 12:37:13 PM
Post by: Freedomin5 on September 24, 2018, 04:54:53 AM
With around two years to go until FIRE, how have you all adjusted your paths to accommodate?
I realize that this kinda depends on your age and what bucket you will be taking your funds out of.
[snip]
Thoughts?
Good question. I actually never really thought about this until you brought it up.
I’m planning to FIRE, but DH wants to keep working. Right now, we continue to throw money into after-tax investment accounts (our situation is a bit weird in that we cannot contribute to tax-deferred accounts). So I don’t think much will change except that our savings/investments amount will be lower after I FIRE. If DH also wants to FIRE too, approx. six months before his FIRE date, we will have to divert incoming funds to create a 2-3 year cash buffer. That way, we won’t have to draw down investments in case of a market crash.
We are also planning to move back to our home country after we FIRE, so we would like to purchase a small home in a LCOL/MCOL area before moving back or shortly after moving back so we can get a mortgage, while we still have a relatively high reported income, because once we both FIRE, we are going to look like unemployed bums on paper.
But for right now, I don’t think there is much I need to think about, unless I’m missing something.
Post by: catccc on September 24, 2018, 08:44:17 AM
@Bateaux what does fat fire mean for you? (Aka, what’s your target # and drawdown rate?)
Since we've crested 2 million in investment worth and considering the 4% rule that would provide 80K right now. We just bought another home in Florida and have a mortgage of 190K on it. Our current home in Louisiana is paid off and it's sale would easily cover the Florida mortgage as well as give us some cash. The 190k mortgage is our only debt.
If we pay off the mortgage by selling our current home we can probably live pretty good on a 2% withdrawal or 40k annually. 40k with no debt and grown kids is pretty Fat Fire. We'll have the ability to ramp spending when needed. My reason for continuing to work is for health care. I currently have a great employer plan and continue to cover my young adult children. Since I'm expecting health care to cost us 20 to 25 thousand a year eventually I'm allocating 500k of our stash just to service that cost. So to summarize I plan to spend 40k annually outside of health care. Which are the expenses I can control.
Interesting, I always thought of "fat fire" as spending more and needing more, but never thought about it as a lower withdrawal rate! I like that approach. And good for you for tackling the reality of potential health care costs... I have to admit my head is kind of in the sand on that one, still. I will tackle it, I guess I've just never felt close enough to pulling the trigger to plan for it. But you are in a great mindset! Rock on!
Post by: catccc on September 24, 2018, 08:45:18 AM
I am now officially aiming to FIRE in 2019, given that the house market doesn't crash in the next 3/4 year.
Congrats!!!
Post by: RedefinedHappiness on September 24, 2018, 11:15:29 AM
With around two years to go until FIRE, how have you all adjusted your paths to accommodate?
I realize that this kinda depends on your age and what bucket you will be taking your funds out of.
I am realizing lately that I am still in the mode of dropping as much money into tax deferred accounts as I can, when in reality, I wont be able to access them for 20 years. In reality, I should have stopped putting money into my 401k years ago and used these funds for the years before I can access the tax deferred accounts.
Partly this is out of fear of pulling the trigger on FIRE, I know.
What i am trying to say here is that if I am indeed part of the 2020 cohort, I should be adjusting my plan here. After years of saving everything at all costs and putting priority into tax deferred, I need to act differently.
Thoughts?
My next two years:
1) stay the course investing/saving
2) continue to track spending to ensure it is stable and relatively predictable for future
3) research Health care options. Work currently provides, so in order to fund, I would need to continue to pay out of pocket expenses PLUS premiums for a similar plan for a family of four. I don't want to have to count on ACA subsidies, so looking at modeling cost on HC gov without subsidies. Looking like about 1300/month.
4) run some tax modeling based on expected distribution strategy.
5) brainstorm any other large pitfalls
6) mentally prepare
Post by: meatgrinder on September 24, 2018, 11:31:13 AM
I don't want to have to count on ACA subsidies
Why not?
Post by: daveed on September 24, 2018, 11:37:26 AM
But that's the goal! Want to go to Argentina in December 2020 as our first step into FIRE.
Post by: RedefinedHappiness on September 24, 2018, 12:51:41 PM
I don't want to have to count on ACA subsidies
Why not?
I am generally risk averse and I think there is too high of a probability that the ACA subsidies would go away or change dramatically in the next 5-10 years. Given the $ risk that this represents, I'm deciding to ignore the subsidies in my FIRE planning.
Post by: Linea_Norway on September 24, 2018, 01:07:00 PM
I am now officially aiming to FIRE in 2019, given that the house market doesn't crash in the next 3/4 year.
Congrats!!!
Thanks. Is was due to two things.
1. The nett sales price for our clown house in my FIRE spreadsheet was very conservative. After getting an estimate from two real estate brokers, I have made the amount higher. This adds directly to the expected FIRE stash.
2. I corrected my FIRE spreadsheet with the fact that we currently have our stock in an account where we can sell stocks without paying tax on profits to a certain amount. This means that when we withdraw, we won't be paying taxes as long as we don't take out more than we put in. In later years, that is 14 years later, we will have to pay tax over all remaining that we will withdraw. This is referred tax that we can keep in the stock markey and gives us a sleightly lower FIRE amount.
So we didn't earn or save any more money, we just adjusted the numbers in a more profitable way. DH checked my numbers critically and has faith in them. :-)
Post by: catccc on September 25, 2018, 09:13:59 AM
1. The net sales price for our clown house in my FIRE spreadsheet was very conservative. After getting an estimate from two real estate brokers, I have made the amount higher. This adds directly to the expected FIRE stash.
That's great! So do you plan on selling the house when you FIRE, or will you somehow use the equity to fund RE?
Post by: meatgrinder on September 25, 2018, 09:31:12 AM
1. The net sales price for our clown house in my FIRE spreadsheet was very conservative. After getting an estimate from two real estate brokers, I have made the amount higher. This adds directly to the expected FIRE stash.
That's great! So do you plan on selling the house when you FIRE, or will you somehow use the equity to fund RE?
"Grabs Popcorn" In the same boat here. We live in a HCOL and have about 800K in home equity. Would love to tap that and move to a LCOL but there are other factors at play such as small children in school and the wife. In fact, if we invested half of it we would be $100K over our fire number.
Post by: Lews Therin on September 25, 2018, 09:47:15 AM
"Grabs Popcorn" In the same boat here. We live in a HCOL and have about 800K in home equity. Would love to tap that and move to a LCOL but there are other factors at play such as small children in school and the wife. In fact, if we invested half of it we would be $100K over our fire number.
Then refinance? Pull that equity out?
Post by: Linea_Norway on September 25, 2018, 11:05:19 AM
1. The net sales price for our clown house in my FIRE spreadsheet was very conservative. After getting an estimate from two real estate brokers, I have made the amount higher. This adds directly to the expected FIRE stash.
That's great! So do you plan on selling the house when you FIRE, or will you somehow use the equity to fund RE?
We need to sell the house. Keep half the money apart for buying another house in the future. Invest the rest of the money to generate the 4% per year after inflation.
Post by: meatgrinder on September 25, 2018, 05:16:25 PM
"Grabs Popcorn" In the same boat here. We live in a HCOL and have about 800K in home equity. Would love to tap that and move to a LCOL but there are other factors at play such as small children in school and the wife. In fact, if we invested half of it we would be $100K over our fire number.
Then refinance? Pull that equity out?
Yes, but then spending goes up due to higher mortgage payment requiring higher savings. I think what youre saying makes the most sense long term
Post by: FIREby2021 on September 29, 2018, 03:34:00 PM
- The oppressive heat has broken! I am really looking forward to this time of year. September was a solid month overall - we met our savings goals, and had some solid market performance to boot.
- We took two long weekend trips to visit family members in September. WV to meet my new niece (!!!) and had a wonderful weekend with my sister, family and bonding with little one. We also went up to MN to visit wife's sister & had a great hang, enjoying the nice weather & outdoors.
- Still able to stay active with regular yoga and weight training each week. Had a lot of success in the spring with Whole30, and am considering one more (similar) effort to get my (now) "old self" to where I'd really like to be ... shedding a few more pounds would be good for my back.
- Had an unexpected conversation with my boss about remote and/or flexible location work arrangements. I honestly did not think this would EVER be an option at my MegaCorp. That said, he was surprisingly open minded to discussing ideas, and has approval authority. There are some ongoing / emerging needs with my aging parents that I would greatly appreciate working remotely to support, and I wonder if that could lead to a longer term remote arrangement that could 1) accelerate our move to our desired MCOL home and 2) pad the stash / retain healthcare benefits for an extra few years. Definitely worth thinking about; we shall see. As with other contingencies we could lean on, we are not including this in our plan.
- Our ideal countdown target is now @ 18 months (ok THAT sounds all too real now!). Our old (original) target is out there at 33 months (Jul-2021).
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
JUL 2018: 83.9%
AUG 2018: 84.4%
SEP 2018: 86.5%
FIREby2021
Post by: BlueMR2 on September 30, 2018, 11:48:27 AM
Starting to shift our savings approach. "Rounded down" on the HSA and 401k during our system change this year instead of calculating the precise amount to max them out, puts more into the taxable to carry us over into when we can get into the retirement accounts.
The big worry is still healthcare. No faith in ACA or whatever will replace it. Budgeting for that is purely guesswork. The current expensive plans would fit within our numbers, but who knows how much worse things could get? 12 years ago top notch health insurance was $62/mo. I never would have believed anyone telling me that just over a decade later $900/mo would be the bargain barely covers anything insurance.
Post by: letsdoit on October 01, 2018, 08:34:10 AM
I have no ideas, it sounds like a mess.
Post by: meatgrinder on October 01, 2018, 09:04:52 AM
agreed , if we as a group, figure out one thing on this board, it should be how to manage FI health care
I have no ideas, it sounds like a mess.
Has anyone thought about rolling the dice and not getting health insurance? Everyone in this thread will have a sizable stash where something like $100K-$200K in medical bills would be significant but not be crushing. If some people are paying $20K/year in insurance premiums then its worth considering self-funding.
Post by: Gumption on October 01, 2018, 10:13:50 AM
I think if I make under $120k/yr (I need to double check that) we would be eligible for the ACA subsidies and those monthly costs would be cut in half.
I am hoping that when i get closer to FI and cut down on the work, that the ACA subsidies will help curb the costs of health insurance until we get to medicare. If not, we will have to cut costs in other areas.
We are young and pretty healthy, although we had a curve ball this year which, all totaled would have cost us ~$60,000 in various medical costs if we didn't have insurance.
This was for two minor surgeries. We ended up having to pay around $7,000 out of pocket for the medical costs associated with this incident.
We are all back to being healthy now, but if we didn't have insurance, that's a big chunk of change that would have set our FI date back a year if not more -- that $60k, when left in the savings account has compound interest after all.
I will never go without insurance. Things can and will happen to all of us at some point. To have to pay for the complete costs of these things individually, without insurance, is simply a stupid risk to take.
Post by: 2Birds1Stone on October 06, 2018, 03:58:24 AM
I'm going to cautiously move into the 2019 cohort.
The FI projection chart shows my blue and red line crossing in October of 2019, so I'll aim for November 1st.
This is all subject to change based on markets/income/job security, so I might be back here before the year is up lol.
Well, it looks like I called it =D
2020 it is.......looking like a 50/50 split between June 1 or Sept 1.
Just crossed 13x combined annual expenses.
Post by: meatgrinder on October 06, 2018, 02:47:30 PM
I'm going to cautiously move into the 2019 cohort.
The FI projection chart shows my blue and red line crossing in October of 2019, so I'll aim for November 1st.
This is all subject to change based on markets/income/job security, so I might be back here before the year is up lol.
Well, it looks like I called it =D
2020 it is.......looking like a 50/50 split between June 1 or Sept 1.
Just crossed 13x combined annual expenses.
You're firing in two years? Must have a lot of income coming in.
Post by: 2Birds1Stone on October 07, 2018, 05:24:08 AM
We don't plan on waiting till 25x before dipping our toe in the water. Taking a year off then reevaluating whether seasonal/pt/ft work makes sense to bridge the gap.I'm going to cautiously move into the 2019 cohort.
The FI projection chart shows my blue and red line crossing in October of 2019, so I'll aim for November 1st.
This is all subject to change based on markets/income/job security, so I might be back here before the year is up lol.
Well, it looks like I called it =D
2020 it is.......looking like a 50/50 split between June 1 or Sept 1.
Just crossed 13x combined annual expenses.
You're firing in two years? Must have a lot of income coming in.
Sent from my SM-N950U using Tapatalk
Post by: meatgrinder on October 11, 2018, 04:53:53 PM
Could start a never ending chain reaction of 2019 bumping to 2020 etc.
Post by: ixtap on October 11, 2018, 05:14:37 PM
How much further does the market need to drop for you to get to the dreaded OMY or TMY!?!?
Could start a never ending chain reaction of 2019 bumping to 2020 etc.
We already have a wait and see attitude. We re-evaluate every six months, with the right to be fed up in between.
For 2020 retirees, now is a great time for a correction, as the economy would likely be strong, or at least recovering, 18 months from now.
Post by: Bateaux on October 11, 2018, 07:24:46 PM
How much further does the market need to drop for you to get to the dreaded OMY or TMY!?!?
Could start a never ending chain reaction of 2019 bumping to 2020 etc.
I'm a OMY from 2019 to 2020 largely because there has been no recession. I'd like to see it right now. I'm currently down 90K and the drop down is likely just getting started. If need be I'll TMY to 2021. The extreme is 2023. I'll be 55 in 2023 and I'd say that's the last birthday I could claim early retirement.
Post by: markbike528CBX on October 11, 2018, 09:46:36 PM
Bateaux, I've seen you in the "double comma" threads, and I fail to see why you are THAT worried. AFAIK your expenses month to month are not that bad. You do have a slight cashflow issue (2 mortages or some such that I haven't researched) at this very moment, which you could handwave away.How much further does the market need to drop for you to get to the dreaded OMY or TMY!?!?
Could start a never ending chain reaction of 2019 bumping to 2020 etc.
I'm a OMY from 2019 to 2020 largely because there has been no recession. I'd like to see it right now. I'm currently down 90K and the drop down is likely just getting started. If need be I'll TMY to 2021. The extreme is 2023. I'll be 55 in 2023 and I'd say that's the last birthday I could claim early retirement.
Be careful what you wish for
Quote
I'd like to see it right now., as it would just make you Infinite More Years (IMY).
As I've not seen Infinite More Years (IMY) used yet, I'm copyrighting it :-)
Post by: Bateaux on October 11, 2018, 11:59:36 PM
Bateaux, I've seen you in the "double comma" threads, and I fail to see why you are THAT worried. AFAIK your expenses month to month are not that bad. You do have a slight cashflow issue (2 mortages or some such that I haven't researched) at this very moment, which you could handwave away.How much further does the market need to drop for you to get to the dreaded OMY or TMY!?!?
Could start a never ending chain reaction of 2019 bumping to 2020 etc.
I'm a OMY from 2019 to 2020 largely because there has been no recession. I'd like to see it right now. I'm currently down 90K and the drop down is likely just getting started. If need be I'll TMY to 2021. The extreme is 2023. I'll be 55 in 2023 and I'd say that's the last birthday I could claim early retirement.
Be careful what you wish forQuoteI'd like to see it right now., as it would just make you Infinite More Years (IMY).
As I've not seen Infinite More Years (IMY) used yet, I'm copyrighting it :-)
Definitely going to try and be done 2020. We did recently get a mortgage on a Florida home. Current home is paid off. I'm freaking out a bit falling below the 2 million invested threshold. That's my bottom where I'll seek employment post retirement. Since I'm still working it's not a big deal. I'd like to reach 2.5 million before quitting but could do with less.
Hopefully getting on my bicycle for a short tour this weekend. That and a campout will probably calm the nerves. Thanks for the words.
Post by: Bateaux on October 12, 2018, 01:34:18 AM
Bateaux, I've seen you in the "double comma" threads, and I fail to see why you are THAT worried. AFAIK your expenses month to month are not that bad. You do have a slight cashflow issue (2 mortages or some such that I haven't researched) at this very moment, which you could handwave away.How much further does the market need to drop for you to get to the dreaded OMY or TMY!?!?
Could start a never ending chain reaction of 2019 bumping to 2020 etc.
I'm a OMY from 2019 to 2020 largely because there has been no recession. I'd like to see it right now. I'm currently down 90K and the drop down is likely just getting started. If need be I'll TMY to 2021. The extreme is 2023. I'll be 55 in 2023 and I'd say that's the last birthday I could claim early retirement.
Be careful what you wish forQuoteI'd like to see it right now., as it would just make you Infinite More Years (IMY).
As I've not seen Infinite More Years (IMY) used yet, I'm copyrighting it :-)
Definitely going to try and be done 2020. We did recently get a mortgage on a Florida home. Current home is paid off. I'm freaking out a bit falling below the 2 million invested threshold. That's my bottom where I'll seek employment post retirement. Since I'm still working it's not a big deal. Rechecking Mint, shows I'm now down 100k. That's still a highly emotional level of funds to see evaporate. I'd like to reach 2.5 million before quitting but could do with a bit less, just never below a 2 million balance, ever.
Hopefully getting on my bicycle for a short tour this weekend. That and a campout will probably calm the nerves. Thanks for the words.
Post by: 2Birds1Stone on October 18, 2018, 04:26:11 PM
Would LOVE to be able to join you guys and gals, sadly my realistic FIRE date is ~2027.
I could be considered FI by Dec 31 2020 if I moved to a 3rd world country -_-
Does that make me an honorary member?
I never thought this would actually manifest......but here we are, targeting June 1, 2020.....with the main plan being geographical arbitrage and slow travel =D
Post by: FIREby2021 on November 05, 2018, 01:12:49 PM
- Running a few days behind on our monthly update as we just returned from a vacation enjoying time with friends and the outdoors in our future FIRE location!
- October brought us all a touch of market volatility ... all things considered, this was a solid month - we met our savings goals, took the opportunity to allocate cash into the market, and had a great vacation!
- October was good progress in the yoga and weight training department ... however, I probably more than offset my vacation hiking with vacation food & drink but oh well! I'll do my monthly weigh-in later today, and I'm sure I've got another 5# or so by end of year to reach my goal.
- Still dealing with some emerging needs from my aging parents, and I will continue to pursue a remote work arrangement to temporarily support them. If successful, this could possibly lead to a longer term remote arrangement that could 1) accelerate our move to our FIRE location and 2) pad the stash / retain healthcare benefits for an extra few years. Definitely worth thinking about; we shall see what unfolds. My primary near-term goal is to ensure my parents are supported and to come up with a more sustainable plan.
- Our ideal countdown target is now @ 17 months (WHAT!?!?). Our old (original) target is now at 32 months.
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
JUL 2018: 83.9%
AUG 2018: 84.4%
SEP 2018: 86.5%
OCT 2018: 85.8%
FIREby2021
Post by: Unique User on November 06, 2018, 05:36:49 AM
Post by: Freedomin5 on November 06, 2018, 07:16:13 AM
Post by: Linea_Norway on November 06, 2018, 07:53:49 AM
I have one foot in the 2019 thread and one foot in the 2020 thread. 2020 would be a nice comfortable fully funded cushiony FIRE. 2019 would be a “I hate my work and have completely burnt out FIRE”. We will know by early next year whether I’ll be able to make it to 2020, as part of it also depends on whether my work decides to renew my contract for another year.
There are more of us. I am also in both threads. I am pretty stressed from work and so is DH. So we would really want to FIRE in autumn 2019. But as we are depending on getting a good price for the clown house, we might have to OMY it if it doesn't work out.
Post by: 2Birds1Stone on November 06, 2018, 09:46:07 AM
I have one foot in the 2019 thread and one foot in the 2020 thread. 2020 would be a nice comfortable fully funded cushiony FIRE. 2019 would be a “I hate my work and have completely burnt out FIRE”. We will know by early next year whether I’ll be able to make it to 2020, as part of it also depends on whether my work decides to renew my contract for another year.This is me to the T
Sent from my SM-N950U using Tapatalk
Post by: FIREby2021 on December 01, 2018, 04:22:59 PM
- All things considered, another solid month! Market volatility continues (I wonder what Monday will bring ...) but we stuck to the plan, met our savings goals and allocated more cash into the market.
- November brought a nice (long) relaxing Thanksgiving weekend ... enjoyed the day with close friends & their family, and used the weekend to catch up on some minor projects around the house. Last week my DW took a trip to Vegas to visit family while I went for my 2nd trip to India on a business trip. It's crazy how fast one accumulates airline frequent flier miles after making a couple of international trips on business class!
- Staying reasonably active & making healthy eating choices ... I'm planning to keep things dialed in pretty tight between now and when we travel to visit family for the Christmas holidays. Aside from the yoga & weight training, we got the bikes back out this month to enjoy the cooler weather.
- Big news regarding my plans to help deal with some health support needs for my aging parents ... I now have approval (in writing) from my management and HR to trial a remote work arrangement during 2019. I requested a 6-month stint rotating between remote and regular work schedules, and am thrilled that this will 1) enable me to be with them to help, and 2) give me a chance to demonstrate a good track record of working at a remote, flexible location. It would still be a "VERY" long shot, but working remotely from our future FIRE location for a while would be a great transition.
- Our ideal countdown target is now @ 16 months :-) ... the old (original) target is 31 months.
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
JUL 2018: 83.9%
AUG 2018: 84.4%
SEP 2018: 86.5%
OCT 2018: 85.8%
NOV 2018: 87.0%
FIREby2021
Post by: BFGirl on December 04, 2018, 02:19:04 PM
Post by: 2Birds1Stone on December 23, 2018, 10:50:15 AM
Is everyone still tracking for 2020? If we recover by then, this will be a gift in disguise =)
Post by: Rubyvroom on December 24, 2018, 07:35:44 AM
Last summer we saw home prices that were far above what we would have expected if/when we sell, which would have provided a boost to our numbers, however things have slowed down since. I'm curious how things will look this spring. We still are taking small steps to get the house ready to sell (repairs, paint, etc.), but we aren't in any rush to move. Though if prices continue to rise, it's very tempting to cash out of the housing market a couple of years early and move into a rental in the interim (yes, that's trying to time a market, but it's tempting to just lock in those profits given how close we are).
Market volatility of course did not help our earnings for the year, but I still continue to pump money into the market whenever I have it. We had bought land earlier in 2018 (part of our FIRE plan) and every time the market rose, we were kicking ourselves for taking money out. Now it seems like a genius diversifying strategy. Either way, the land is what we're retiring to and is a part of the grand plan, so we've tried to stop stop thinking about it in terms of what the market is doing.
Over the next few days here I'm going to re-allocate our retirement assets into wash-sale friendly funds to make sure we're ready to tax-loss harvest heading into 2019. I unfortunately am not able to harvest in 2018 because I hadn't thought this all through yet and I already bought in to the fund I'd harvest from in mid-December, but I can be proactive and make sure our investments are ready for harvesting in the near future, assuming markets continue to decline. I'll keep an eye on our allocation as well and if we fall below the 90/10 in our IPS, I'll re-balance accordingly.
Other than that though, we haven't changed our plans in any way. We're still eyeing 2020, and we always knew the path forward certainly wouldn't follow our nice, evenly spaced spreadsheet forecasting, but it certainly has turned into a bumpy ride lol. Though this market decline is precisely what I was worried about happening shortly before or shortly after we retired, and so a part of me is happy the market is having its hiccups now rather than later. Though I feel badly for the late 2018 / early 2019 cohort, because I know if it were me, this crap certainly would give me pause and it'd be difficult to resist OMY.
Post by: apurplelife on December 24, 2018, 01:14:53 PM
Crickets in here lately.
Is everyone still tracking for 2020? If we recover by then, this will be a gift in disguise =)
I'm still in! We'll see how long this market is down for.
Post by: Unique User on December 24, 2018, 02:53:11 PM
Post by: Maenad on December 24, 2018, 04:31:04 PM
Post by: rab-bit on December 24, 2018, 06:46:32 PM
Post by: 2Birds1Stone on December 24, 2018, 09:02:14 PM
Post by: BFGirl on December 25, 2018, 03:33:00 AM
Post by: FIREby2021 on December 27, 2018, 10:01:35 AM
On the flip side, we've started taking advantage of the market "sale" last week to begin serious deployment of our cash proceeds from the Jan-2018 sale of our HCOL home! Market allocations should return to our long-term target % over the coming month(s).
Happy New Year to the 2020 cohort! Looking forward to preparing our EOY update / 2019 Outlook next week.
FIREby2021
Post by: ysette9 on December 27, 2018, 11:23:53 AM
On the other hand we are talking more about reducing to part-time at some point. I'd love to sweet talk my husband into doing that by Fall 2019 when our oldest starts school. I suspect something big will have to change by that point because our current life is unsustainable if we add one kiddo going to school to the mix.
Has the current market dip made anyone's target date push out a touch?
Post by: RedefinedHappiness on December 27, 2018, 12:35:04 PM
If this is a long term correction to get to a more "appropriate" Schiller ratio, then yes, it will push my plans out. But since I've moved to a more appropriate, lower stress job, I've been very non committal to a specific date anyway. If I work "too long" and end up having left over money that I can use to avoid disagreements with my partner or if I can use it for good charitable causes, that might make me happier.
As I get closer to my date, I've been focusing my attention on my overarching purpose and mental health instead of my previous exhausting single minded mission to hit a number. I think this drop would have crushed me 1-2 years ago.
Post by: Bateaux on December 29, 2018, 09:25:18 AM
Post by: Linea_Norway on December 29, 2018, 12:04:05 PM
Hopefully we get a recovery of the stock market and continued growth into 220. If so, I'll have 250 more 12 hour shifts to go till August 2020.
Some "experts" expect the stockmarket in 2019 to be very volatile.
Post by: FIREby2021 on December 29, 2018, 08:51:53 PM
Our target NW was based on an annual budget of $60k. We 'felt' we'd be close, but had never done a deep-dive (tracked every dollar). What did we find?
=-=-=-=-=-=-=-=-=-=-=
Where did our after-tax money go?
SAVE ---> 63%
SPEND -> 25%
GIVE ---> 12%
=-=-=-=-=-=-=-=-=-=-=
Adjusting for our future FIRE location and per ACTUAL 2018 spend, our predicted FIRE budget is $64k ... whoa!
We expect to ELIMINATE the following categories in the future: Savings, Giving (will come from a separate fund), Rent/Mortgage, House Cleaning
We expect to REDUCE spend in the following categories: Transportation (shift from 2 cars to 1 car and no commute)
So what is the projected breakdown of this MASSIVE $64k annual budget (2 adults, no kids, no pets)?:
23%: HOUSING (Property Tax, Insurance, Maintenance Fund, Utilities, Indoor/Outdoor Misc)
21%: HEALTHCARE (Insurance, Dr/Dentist visits, Supplements, Gym)
16%: TRAVEL (1 big trip & 3-4 smaller trips)
15%: FOOD (Eating In, Eating Out)
8%: TRANSPORTATION (Insurance, Gas, Tolls, Service, Repairs)
6%: ENTERTAINMENT (Events, Gifts for others)
4%: PERSONAL CARE (Clothes, Hair, Nails, Toiletries)
4%: COMMUNICATIONS (Phones, Internet, Television)
3%: BUSINESS (Both of our misc business expenses - keeping for now)
While this represents a slight uptick to our previously planned $60k/year, we finally have good data. For the most part, we are happy with how we have dialed in our Expenses over the last few years and want to keep a similar quality of life in FIRE as we have now. This will also position us to have room to cut, should we experience poor market returns during the first 5-10 years. Trimming a few luxury items like Travel, Home Maintenance savings, etc. give us an easy path to get down toward $50k/year without really impinging on our day-to-day lifestyle.
Now that I have a process in place and a template by which to track things, I'll repeat this for 2019 to see how that data compares. #nerdalert
Post by: robtown on December 31, 2018, 03:07:57 PM
Has the current market dip made anyone's target date push out a touch?
Yes, more like a hit. Sitting on a safe mix of bonds was not getting us to retire any earlier so I run/ran my investments with more risk.
Original plan April 2020, now perhaps December 2020. The effect of nine more months of social security and 401k payments, plus not pulling on 401k makes a difference, It also puts me that much closer to FRA (we are not young).
My wife retires Wednesday and may get a part time job. Her pension and my full social security will be higher than planned. In addition, she can take spousal social security payout when I apply at full retirement age (FRA), which I did not include in my calculations.
I am hoping to drop to part time (27 - 30 hours a week) and have four day weekends. If I can start that within the next six months I think I can make it until December 2020 and maybe even a bit more.
Post by: ysette9 on December 31, 2018, 11:38:11 PM
Post by: FIREby2021 on January 01, 2019, 11:04:27 AM
- As expected, market volatility continued ... despite meeting our monthly savings goals the market gave us all a bit of a black eye in December! Temporary, of course, and we are thankful to still be in accumulation mode!
- As shared earlier this year, we sold our HCOL home in Jan-2018 and moved into a rental. Given our opinion of high market valuations at the time, we did not immediately deploy the proceeds into the market. We made a few nibbles during the Feb-Mar-Apr time frame, but finally started making more significant purchases during the week of 17-Dec. We consider ourselves fortunate to have kept VMMXX (2.5% yield money market) as one of our largest 2018 holdings. One of our stated 2018 goals was to move back to our target 75/25 allocation by EOY 2018, however this process has just now started. We expect to reclaim 75/25 during Q1-2019 by moving from VMMXX to VTSAX in equal chunks across Jan/Feb 2019.
- REALLY looking forward to getting back to a routine when it comes to diet and exercise. We had a nice trip visiting family before Christmas, but I did catch a cold in the process. Feeling much better now and am ready to dive back into yoga & weight training to build on my 2018 progress!
- Our ideal countdown target is now @ 15 months ... more on that in the next post outlining our 2018 Summary and 2019 Goals!
EOY 2015: 56.2%
EOY 2016: 70.6%
EOY 2017: 78.6%
EOY 2018: 84.8%
JAN 2018: 78.8%
FEB 2018: 77.3%
MAR 2018: 77.6%
APR 2018: 80.3%
MAY 2018: 81.9%
JUN 2018: 83.3%
JUL 2018: 83.9%
AUG 2018: 84.4%
SEP 2018: 86.5%
OCT 2018: 85.8%
NOV 2018: 87.0%
DEC 2018: 84.8%
FIREby2021
Post by: FIREby2021 on January 01, 2019, 11:33:49 AM
KEY ANNUAL STATS (Net After-Taxes):
2015 Savings Rate = 51.0%
2015 Giving Rate = 11.2%
2016 Savings Rate = 65.5%
2016 Giving Rate = 12.5%
2017 Savings Rate = 64.4%
2017 Giving Rate = 11.5%
2018 Savings Rate = 63.0%
2018 Giving Rate = 12.0%
=-=-=-=-=-=-=-=-=-=-=-=-=-=
PREVIOUS TARGET / PROGRESS METRICS
EOY 2015 FIRE Progress = 56.2%
EOY 2016 FIRE Progress = 70.6%
EOY 2017 FIRE Progress = 78.6%
EOY 2018 FIRE Progress = 84.8%
// FI target had been defined as 3.5% SWR, mortgage-free + giving fund //
=-=-=-=-=-=-=-=-=-=-=-=-=-=
REVISED TARGET / PROGRESS METRICS!
OK look, if you've been following along you know that we completed a DEEP-DIVE into our 2018 expenses (tracked every dollar) for the first time. We learned that we SAVED 63%, SPENT 25% and GAVE 12% of our after-tax dollars. We converted our actual spend to our future LCOL FIRE scenario and realized our target annual spend projects to $64k, not $60k. We have also decided on setting aside a modest cash fund to cover our first (partial) year FIRE spending - essentially a conservative step to cover "year 1" of our sequence of returns risk. Yes, both of these adjustments require a LARGER savings target. However, we are not completely crazy ... after conducting some serious SWR analysis, using Big ERN's SWR ToolBox 2.0, we have adjusted our planned SWR up from 3.50% to 3.75%! This has largely offset the impact of $64k annual spend and the additional lump sum savings for Year 1. Our FIRE Progress % stats will all shift going forward, connected to our revised outlook, and now look like this:
EOY 2015 FIRE Progress = 53.8%
EOY 2016 FIRE Progress = 67.8%
EOY 2017 FIRE Progress = 75.5%
EOY 2018 FIRE Progress = 81.6%
// FI target now defined as $65k @ 3.75% SWR, mortgage-free + giving/lump sum fund //
Key goals for 2019 are:
1. Achieve an after-tax savings rate of 65%
2. Attain 92% of progress toward our FIRE NW target (equivalent of SWR nut + paid off FIRE home mortgage)
3. Reclaim our desired AA (75/25) for the SWR nut
4. Decide on rental strategy for our FIRE home // current rental lease is up Sep-2019 // impacts potential FIRE month timing
5. Study Healthcare options and repeat DEEP DIVE into 2019 expenses to confirm our outlook
Happy New Year!
FIREby2021
Post by: 2Birds1Stone on January 02, 2019, 07:56:01 AM
Combined Spending - $37,250
Combined Income - $128,000
Combined Net Worth - $515,100 (+14%)
Combined 2018 Savings Rate - 71%
Years of Combined Expenses - 13.8X
Current WR% - 7.23%
Post by: FireLane on January 02, 2019, 12:05:12 PM
On the other hand we are talking more about reducing to part-time at some point. I'd love to sweet talk my husband into doing that by Fall 2019 when our oldest starts school. I suspect something big will have to change by that point because our current life is unsustainable if we add one kiddo going to school to the mix.
If you can go part time, I definitely recommend it! I've been working 4-day weeks since July and it's been fantastic. It makes for significantly less stress and a better work-life balance, and because of marginal tax rates, it didn't even affect my take-home pay that much.
Has the current market dip made anyone's target date push out a touch?
So far, the market dip hasn't changed my plans. Of course, it depends on whether there's a recovery by 2020 (in which case, we 2020'ers have been gifted with a great buying opportunity!), or whether this dip becomes a prolonged slump. If that happens, I'm OK with working longer to ride it out.
Post by: ysette9 on January 02, 2019, 01:23:43 PM
Post by: DreamFIRE on January 02, 2019, 06:24:01 PM
Sometimes I think the perfect sweet spot would be working 20 hours a week. I vacillate between wanting that for quality of life sooner versus pedal-to-the-metal save until we reach full FI.For me, 24 hours over 3 consecutive days would be the sweet spot because that's the minimum for some of our benefits, including good affordable health insurance. In fact, my original plan was to FIRE in June 2019 and attempt to go part time if was at all possible until the following spring for about 10 months of part time work, even if it meant fewer hours without health insurance. 2 or 3 days per week would have been good. Due to developments at work regarding staffing and budgeting, I'm finding it less likely that I'll have an opportunity to stay on part time, but I don't really want to call it quits completely from the job and give notice in just 4 months from now, either. So, now I'm thinking about working full time those additional 10 months, and then just pulling the plug completely in April 2020. I take a lot of vacation days in July and August, so it would be more like 8 more months of full time. I would still end up fully FIREd and non-working in April 2020 at the same time as my original plan, but this way is guaranteed without depending on a part time opportunity that might be there. If I was really burnt out on my job like so many people seem to be, I would go ahead and FIRE in June regardless of PT opportunities, but I actually like my job pretty well, have my own office, plenty of flexibility, and I'm just not ready to throw in the towel completely yet.
Post by: BFGirl on January 03, 2019, 05:55:42 AM
Post by: ysette9 on January 03, 2019, 02:50:43 PM
Dec 16: $1.463M
Dec 17: $1.663M
Dec 18: $1.789M
Post by: tooqk4u22 on January 04, 2019, 10:50:00 AM
This thread inspired me to dig up some old numbers.
Dec 16: $1.463M
Dec 17: $1.663M
Dec 18: $1.789M
Wow - up 22% in 3 days when everybody got hammered last month.
Haha - JK I know its year ends.
Post by: ysette9 on January 04, 2019, 11:07:44 AM
(Ref: https://forum.mrmoneymustache.com/investor-alley/top-is-in/)
Post by: Rubyvroom on January 04, 2019, 12:43:30 PM
Dec 2016 - 25.0% (53% YTD savings rate)
Jan 2017 - 26.2% (56% savings rate)
Feb 2017 - 27.7% (60% savings rate)
Mar 2017 - 29.1% (77% savings rate)
65.4% Q1 Savings Rate
Apr 2017 - 30.7% (71% savings rate)
May 2017 - 31.8% (59% savings rate)
Jun 2017 - 33.0% (55% savings rate)
63.0% Q2 Savings Rate
Jul 2017 - 34.4% (60% savings rate)
Aug 2017 - 35.5% (61% savings rate)
Sep 2017 - 37.0% (60% savings rate)
60.6% Q3 Savings Rate
Oct 2017 - 38.6% (71% savings rate)
Nov 2017 - 40.5% (69% savings rate)
Dec 2017 - 41.6% (62% savings rate)
67.2% Q4 Savings Rate
63.8% 2017 YTD Savings Rate
Jan 2018 - 44.7% (75% savings rate)
Feb 2018 - 44.3% (74% savings rate)
Mar 2018 - 44.7% (70% savings rate)
72.9% Q1 Savings Rate
I pretty much dropped off on my updates because we bought land in May and I didn't like seeing the unfavorable hit to our numbers so I just avoided it. But it's LAND though and we love it and we plan to live there someday, so screw it, here are the numbers.
Apr 2018 - 45.1% (66% savings rate)
May 2018 - 34.6% (63% savings rate) nooooooooooo
Jun 2018 - 35.8% (71% savings rate)
66.5% Q2 Savings Rate
Jul 2018 - 37.2% (50% savings rate)
Aug 2018 - 39.6% (62% savings rate)
Sep 2018 - 40.5% (48% savings rate)
54.4% Q3 Savings Rate
Oct 2018 - 38.1% (49% savings rate)
Nov 2018 - 39.6% (34% savings rate)
Dec 2018 - 37.4% (81% savings rate)
54.1% Q4 Savings Rate
61.3% 2018 YTD Savings Rate
So while we made negative progress from a % to target stash perspective, our net worth (including land equity) increased by a healthy margin. I also think that I'll need to re-forecast our target stash at some point because my previous estimate included a mortgage payment, and with this land purchase and our eventual plan to build a home on it, the mortgage payment will of course go away. I don't want to move the goal posts yet however because that makes it more difficult to track historical progress, and frankly anything could happen between now and FIRE.
My SO plans to soft-retire in October 2019, meaning, he'll leave his stress-inducing job and begin "career-lite" for the year before I retire, which will free up time for him to start coordinating our new home build and the sale of our current home. He's literally counting down the days... like multiple times a day. It's not uncommon to hear him asking Siri, "How many days until _____?" Hmm... "How many WORKING days until _____?" Lol.
I'm looking forward to seeing the names slowly CONFIRMED on the 2019 cohort list, knowing we are getting that much closer to our own. :)
Post by: Rcc on January 06, 2019, 06:21:16 AM
Had a couple of unplanned expenses in DEC, but not painful. DS needed a tonsillectomy, and DW and I recarpeted our upstairs and tiled our bathrooms. (Knock on wood this completes the home improvement list we started ticking boxes on.. 6 years ago😀)
Second half of last year I shifted my actions towards aspects of FIRE that I couldn’t really give time to until now. Example: what happens when I hit the target? OMY? Wait for lay off? Chatted with wife on these topics for her input. Our DS will still be in college, so that’s a big influence for her.
So from an action stand point, two things. 1st - working towards a sufficient education so I might pivot between now and 2020 to a career shift to working on a CRM platform in either PT, FT, or contract role (or at least have the choice to), and 2nd working on a few simple health goals so I’m in my best shape ever for 2020.
So, pretty much rolling with the plan.
Post by: desk_jockey on January 06, 2019, 09:33:20 AM
Post by: meatgrinder on January 07, 2019, 12:56:53 PM
Still keeping one foot in the class of 2020. NW excluding principle residence (briefly) approached our target when I looked at the calculations at the end of 3Q2018 but by year end calc had fallen a fair bit below. Aside from a significant drop in the market we should be financially ready to leap by the end of 2020, but there are other factors besides target NW that for now have my expected FIRE date range as 2020 to 2022.
In the exact same boat. What are your plans post fire? (sorry if already posted)
Post by: desk_jockey on January 07, 2019, 11:08:17 PM
Still keeping one foot in the class of 2020. NW excluding principle residence (briefly) approached our target when I looked at the calculations at the end of 3Q2018 but by year end calc had fallen a fair bit below. Aside from a significant drop in the market we should be financially ready to leap by the end of 2020, but there are other factors besides target NW that for now have my expected FIRE date range as 2020 to 2022.
In the exact same boat. What are your plans post fire? (sorry if already posted)
That could be a factor in my delay to pull the trigger in 2020, as I don’t yet have coherent plans. There are scattered ideas, things on the bucket list, interests that I’ve let slip to revisit, etc., but nothing organized. I will probably ass the couch for a month to start the recovery, then figure out what’s next. Better attention to health, long walks in the woods, catching up on the to-do list and a few vacation trips will probably see me through quite a few months. I’ll be one of the folks that believes they’ve decompressed after 3 months, then thinks they’ve decompressed after 6 months, and then realizes as they approach a year that they’ve finally decompressed.
After a year or two I’ll return to some form of work or volunteering, but on a part-time or seasonal contract basis. I’ve always liked listening to stories from the old guys that had held an eclectic variety of jobs over the years. I figure I need at least a dozen more different jobs before old-age retiring.
What are your plans?
Post by: Bateaux on January 09, 2019, 09:03:11 AM
Post by: 2Birds1Stone on January 10, 2019, 09:13:22 AM
It looks like I might be able to pull off a LoA in summer/fall of 2019. We are still sitting at a 7% WR, so some paid work is imminent. We're taking off for a round the world trip in June of 2020, for 9-12 months.
Post by: Linea_Norway on January 16, 2019, 12:54:03 AM
I have one foot in the 2019 thread and one in here.
It looks like I might be able to pull off a LoA in summer/fall of 2019. We are still sitting at a 7% WR, so some paid work is imminent. We're taking off for a round the world trip in June of 2020, for 9-12 months.
I also have a foot planted in both threads, but it looks like I have my weight firmly planted on my 2020 foot now.
For some years I have been the big spreadsheet master in our household, with complicated calculations of all FIRE aspects, having side-gigs, old age pensions etc. I have occasionally discussed it with DH, but he has never felt ownership of it. Our FIRE status was something I just told him.
Last night we discussed my newer, simplified spreadsheet. DH played a lot with the parameters, putting in some worst case scenarios and some windfalls. DH slept on it and told me this morning that his conclusion is that our 2019 FIRE plan is very lean, maybe too lean. The plan requires a very high price for the house and no unexpected extra big costs in the future. We are driving a 10 year old car that at some point will need to be replaced. We are almost depending on receiving an inheritance in 10 years or so, although you can never fully count on that.
We might have to OMY it and maybe even cancel the planned house sale (that we haven't committed to yet) for this year.
One thing we could do to increase our current incomes with 25% is going back to working 100% again. But we both really enjoy having the Fridays off.
One of the reasons for this leanness is of course that in 2018, our FIRE stash hasn't grown. We saved 70% of our net home pay, but it all went into the stock market where it just compensated for the market downturn. Otherwise we could have increased our stash with maybe $50K, which is about a year's spending.
Post by: RedefinedHappiness on January 16, 2019, 05:38:05 AM
I have one foot in the 2019 thread and one in here.
It looks like I might be able to pull off a LoA in summer/fall of 2019. We are still sitting at a 7% WR, so some paid work is imminent. We're taking off for a round the world trip in June of 2020, for 9-12 months.
I also have a foot planted in both threads, but it looks like I have my weight firmly planted on my 2020 foot now.
For some years I have been the big spreadsheet master in our household, with complicated calculations of all FIRE aspects, having side-gigs, old age pensions etc. I have occasionally discussed it with DH, but he has never felt ownership of it. Our FIRE status was something I just told him.
Last night we discussed my newer, simplified spreadsheet. DH played a lot with the parameters, putting in some worst case scenarios and some windfalls. DH slept on it and told me this morning that his conclusion is that our 2019 FIRE plan is very lean, maybe too lean. The plan requires a very high price for the house and no unexpected extra big costs in the future. We are driving a 10 year old car that at some point will need to be replaced. We are almost depending on receiving an inheritance in 10 years or so, although you can never fully count on that.
We might have to OMY it and maybe even cancel the planned house sale (that we haven't committed to yet) for this year.
One thing we could do to increase our current incomes with 25% is going back to working 100% again. But we both really enjoy having the Fridays off.
One of the reasons for this leanness is of course that in 2018, our FIRE stash hasn't grown. We saved 70% of our net home pay, but it all went into the stock market where it just compensated for the market downturn. Otherwise we could have increased our stash with maybe $50K, which is about a year's spending.
Linda - congratulations on what I interpret to be a level headed decision made by both partners together. You might be bummed about having one foot firmly planted in 2020, but based on your partner's rationale, it sounds like the right decision.
Post by: Lews Therin on January 16, 2019, 06:03:08 AM
I also have a foot planted in both threads, but it looks like I have my weight firmly planted on my 2020 foot now.
---
Snip
---
Is the option of making money in the future accounted for in your plan? or even going down to even more part-time? Just because you are on the edge, doesn't mean you have to continue to have 80% work.
Post by: Linea_Norway on January 16, 2019, 01:36:14 PM
I also have a foot planted in both threads, but it looks like I have my weight firmly planted on my 2020 foot now.
---
Snip
---
Is the option of making money in the future accounted for in your plan? or even going down to even more part-time? Just because you are on the edge, doesn't mean you have to continue to have 80% work.
Not really, as we don't want to have to rely too much on working side-gigs. DH could do parts of his present job as a consultant, or occasional hours emplyee. But we don't want to rely too much on that. The gap to an acceptable FIRE is just too big today. If we FIRE next year, we might still occasionally need to work a bit to provide an extra income for a big trip or so.
Once I did a calculator found on this site that showed your chances for succeed in FIRE versus death versus going broke. That calculator showed me a 50% chance of going broke. That is a very high risk. So we want to reduce this a bit. I now support my husband in this, because I want us to succeed together.
Working 80% hours costs 20% of our brutto income, 15% of our nett income. That means that for evey year that we work, we need to work 1,5 to 2 months longer to compensate for the loss. We just decided that it is worth it. Fridays off are great and good for our physical and mental health. We both needed stress reduction. So we keep them. I guess I tolerate a few months extra work.
Post by: Linea_Norway on January 17, 2019, 06:27:54 AM
When we get the list a bit more correct and we approach 2020, we can sort it by date when the time comes. For the moment it is sorted on user name.
2020 cohort members:
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
06/2020 2Birds1Stone
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
10/2020 Linda_Norway
??/202? Maenad
21/20?? markbike528CBX
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
??/2020 RedefinedHappiness
??/202? robtown
03/2020 Rubyvroom
04/2020 TheContinaltalOp
??/2020 tooqk4u22
??/2020 Unique User
??/202? ysette9
Post by: 2Birds1Stone on January 17, 2019, 07:05:57 AM
Post by: Linea_Norway on January 17, 2019, 07:08:28 AM
6/1/2020 for our 9 month honeymoon!
Congrats.
And after the honeymoon? RE or back to some kind of working life?
Post by: Lews Therin on January 17, 2019, 07:11:38 AM
07/2020 Lews Therin
Imagine me loudly hissing at you, like a cat, tiger or giant alien monster from outer-space.
No way I'm in this cohort.
2019 FOR LIFE!
Post by: Linea_Norway on January 17, 2019, 07:15:25 AM
07/2020 Lews Therin
Imagine me loudly hissing at you, like a cat, tiger or giant alien monster from outer-space.
No way I'm in this cohort.
2019 FOR LIFE!
No need to become aggressive. I have changed it.
I got the number from somewhere earlier in the thread where you talked about being done with the military on a certain date.
Post by: Lews Therin on January 17, 2019, 07:24:36 AM
(It was joking!, I was 2020, but got down lower! OLY!)
Post by: 2Birds1Stone on January 17, 2019, 07:28:57 AM
Post by: Linea_Norway on January 17, 2019, 07:37:01 AM
Yes, my agressiveness is through hisses.
(It was joking!, I was 2020, but got down lower! OLY!)
Good for you to manage 2019. For us 2019 was too lean to feel comfortable.
Post by: Rubyvroom on January 17, 2019, 08:52:45 AM
Ahhh! There is a list now. That makes things feel quite real o_o
Please put me down for October 2020 (at 39 y/o). Our pay periods end every other Thursday and when a person leaves the company, our health plan covers you through the remainder of the month of your last day. My pay period ends on Thursday October 1st, so it's a nice clean cutoff for payroll and I would retain benefits through the month of October, so it seems like good timing. It's well after bonuses (April) and raises (July) and gives me plenty of time to build up my PPL balance for a nice fat payout.
Thanks for getting the list started Linda!
Post by: BFGirl on January 17, 2019, 09:19:22 AM
Post by: rab-bit on January 17, 2019, 09:40:58 AM
Ahhh! There is a list now. That makes things feel quite real o_o
Yes, exciting and a little scary at the same time!
Post by: ysette9 on January 17, 2019, 09:52:26 AM
Thanks for starting the list Linda! I'll be the last of the cohort at 12/31/2020 but it's the earliest I can take my pension.Put me down for the same date as well for now.
Specifics are hard to come by now because 1) we need to make some decisions on whether we stay or go elsewhere and 2) market fluctuations could mean 2-4 years depending on performance even if we stay put. If we go elsewhere chances are we would be FI right away.
It really is hard this “figuring out what I want to be when I grow up” business. ;-)
Post by: Linea_Norway on January 17, 2019, 10:42:13 AM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
06/2020 2Birds1Stone
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
10/2020 Linda_Norway
??/202? Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
??/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
??/2020 tooqk4u22
??/2020 Unique User
12/2020 ysette9
Post by: Lews Therin on January 17, 2019, 10:50:49 AM
Post by: Linea_Norway on January 17, 2019, 11:29:52 AM
I just noticed Markbike, he was the fearless leader of 2019, and FIRE`d in 2018.
Removed from the list.
Post by: DreamFIRE on January 17, 2019, 07:19:12 PM
Oh sweet, I'm a member of 2 cohorts now. :)
Post by: 2Birds1Stone on January 17, 2019, 07:29:05 PM
Oh sweet, I'm a member of 2 cohorts now. :)
Be nice, you're going to make Linda OMY again.
Post by: DreamFIRE on January 17, 2019, 07:46:05 PM
Oh sweet, I'm a member of 2 cohorts now. :)
Be nice, you're going to make Linda OMY again.
It's all good. I'm not sure where I'll end up, yet.
Post by: desk_jockey on January 17, 2019, 09:45:43 PM
Oh sweet, I'm a member of 2 cohorts now. :)
Holy Shit!!! It's starting to feel tangible, now that I'm a member of one cohort.
Post by: Freedomin5 on January 18, 2019, 01:11:55 AM
Post by: Linea_Norway on January 18, 2019, 06:36:27 AM
Can I still stay in this cohort if I'm hoping to be FI in 2020 but not RE?
Yes, FI in 2020 is good enough for the cohort.
Post by: Linea_Norway on January 18, 2019, 06:37:42 AM
Oh sweet, I'm a member of 2 cohorts now. :)
Be nice, you're going to make Linda OMY again.
I really hope we won't need to do an additional OMY. OMY is enough.
Post by: markbike528CBX on January 18, 2019, 10:06:47 AM
I just noticed Markbike, he was the fearless leader of 2019, and FIRE`d in 2018.
Removed from the list.
(Blushes)
I don't consider myself fearless, lots of angst was included in my FIRE decision.
I think that the list should specifically INCLUDE OLY, TLY or Lots Less Years, to give evidence to the notion that less years are possible. OMY's are so depressing. But there is always hope that they can come back.
That being said, I don't remember specifically joining this cohort. Maybe I was thinking of a OMY from 2019.
FIRE is great!
One unexpected benefit of FIRE was to be able to be at my Dad's bedside before major surgery* and help him at home for an indefinite amount of time, with no worries about work. He's doing much better than I expected by this time. I'm back home on the other side of the US.
* I brought funeral clothes along on the trip.
Post by: Maenad on January 20, 2019, 04:19:28 PM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
06/2020 2Birds1Stone
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
??/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
??/2020 tooqk4u22
??/2020 Unique User
12/2020 ysette9
Updated mine with current estimate of October. The market bouncing back this month has pulled us back in to 2020. But, as well all know, the market giveth, and the market taketh away. :-)
Post by: Unique User on January 21, 2019, 07:14:53 AM
Post by: Linea_Norway on January 21, 2019, 07:21:03 AM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
06/2020 2Birds1Stone
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
??/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
Post by: Linea_Norway on January 21, 2019, 07:26:35 AM
The OMY decision was good for us. Now we can (without stress) paint some wooden panels bathroom, so that they look a bit nicer for sale. And think more specifically about where we want to move to. I just really hope that the housing market won't crash in the coming year.
I have also found in the price statistics of villas in our community, that there is a peak in price every December. So maybe we will put the house for sale at the end of the year, even though that is a weird time of the year.
Post by: ysette9 on January 21, 2019, 06:04:45 PM
Post by: Linea_Norway on January 22, 2019, 02:16:34 AM
That is a weird time of year. In the US I thought that was usually a time when sales and prices took a dip. Do you have any idea what might be driving that?
This graph is what I get up for villas in my region. As you can see, in one year the peak was in January. But last year it was in December. No, I have no idea why that is.
Post by: Linea_Norway on January 22, 2019, 02:20:15 AM
This type of account is quite new. So in the beginning it grow very fast, because I transferred some other stock accounts to it. Currency is in NOK, not $. My DH has an additional account.
Post by: LadyMaWhiskers on January 22, 2019, 08:00:53 AM
Post by: Linea_Norway on January 22, 2019, 12:40:29 PM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
06/2020 2Birds1Stone
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
Welcome LadyMaWhiskers
Post by: RedefinedHappiness on January 22, 2019, 01:17:36 PM
Some big decisions (annual spend levels, health care, SO potentially working PT, how much to save for kids college) could influence what number replaces the ?, But timing of my employer bonus schedule should out me in the May range whenever I decide to FIRE.
Post by: Linea_Norway on January 22, 2019, 01:20:08 PM
You can put me down as 05/202?
Some big decisions (annual spend levels, health care, SO potentially working PT, how much to save for kids college) could influence what number replaces the ?, But timing of my employer bonus schedule should out me in the May range whenever I decide to FIRE.
Done.
Post by: 2Birds1Stone on January 23, 2019, 08:47:00 PM
Sent from my SAMSUNG-SM-G930A using Tapatalk
Post by: Linea_Norway on January 23, 2019, 10:37:34 PM
2020 cohort members:
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
Congrats. Where does that decision come from?
Post by: 2Birds1Stone on January 24, 2019, 06:49:17 AM
The math dictates that I will have to either return to work in a FT capacity for a few more years at some point in the future, OR I will have to supplement portfolio withdrawals with seasonal or PT work. I'm more than fine with this. Currently have 5 years of expenses in CD's and Bonds, so there is plenty of time to unplug, spend time with people who raised me, and figure out what I want life to look like in the next chapter.
Post by: ToughMother on January 26, 2019, 06:01:56 PM
Member of the 2020 FIRE Cohort thread since 1.31.16
Post by: Linea_Norway on January 27, 2019, 03:31:07 AM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
11/2020. ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
Post by: Linea_Norway on January 29, 2019, 01:02:09 AM
Otherwise, with an additional year to go, there isn't much to do apart from sitting out time.
Post by: Farmgirl on January 29, 2019, 05:54:37 AM
Post by: Linea_Norway on January 29, 2019, 06:17:39 AM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
??/202? robtown
10/2020 Rubyvroom
04/2020 TheContinaltalOp
11/2020. ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date t.b.d.)
Post by: Linea_Norway on January 29, 2019, 06:18:53 AM
Please add me. Not sure I'll make it, but October, 2020.
Done. Then maybe you Fire at the same as I will.
Plans are just what they are: plans. They can always change.
Post by: FIPurpose on January 29, 2019, 07:01:50 AM
I am also a 2020 man. We plan on having assets of about 750k. And I want to go get a PhD in the classics. (With some international travel as well :))
I'm hoping to get a teaching position during grad so that we do not touch those assets until I'm ready to give up any career. But it will feel odd to allow myself to spend my whole paycheck when the time comes. I'll no longer have as high paying a job, but I'll probably end up with more free money than I know what to do with.
Oh my how things change in as little as 4 years.
My SO and I took about 1.5 years off of work 2 years ago. I don't think this has changed our trajectory much. But the stock market isn't saving us any working time it seems. I think the lean 750k FIRE is out of reach for 2020. I'll have to move on to a different FIRE thread, lean FIRE for us will probably be closer to the end of 2021/2022 (30). I might go to part-time around then, I like my current job a lot more than previous ones. Serious FIRE could happen as early as 2026/2027 (35) for us if we keep truckin' along.
So good luck to everyone here. May the stock market be ever in your favor. Keep buying. It's a good time to be working.
Post by: Linea_Norway on January 29, 2019, 08:03:06 AM
I am also a 2020 man. We plan on having assets of about 750k. And I want to go get a PhD in the classics. (With some international travel as well :))
I'm hoping to get a teaching position during grad so that we do not touch those assets until I'm ready to give up any career. But it will feel odd to allow myself to spend my whole paycheck when the time comes. I'll no longer have as high paying a job, but I'll probably end up with more free money than I know what to do with.
Oh my how things change in as little as 4 years.
My SO and I took about 1.5 years off of work 2 years ago. I don't think this has changed our trajectory much. But the stock market isn't saving us any working time it seems. I think the lean 750k FIRE is out of reach for 2020. I'll have to move on to a different FIRE thread, lean FIRE for us will probably be closer to the end of 2021/2022 (30). I might go to part-time around then, I like my current job a lot more than previous ones. Serious FIRE could happen as early as 2026/2027 (35) for us if we keep truckin' along.
So good luck to everyone here. May the stock market be ever in your favor. Keep buying. It's a good time to be working.
You had a very long sabbatical. A part time job that you enjoy sounds like a good idea to easy your way into FI.
Good luck to you as well.
Post by: ixtap on January 29, 2019, 10:23:37 PM
We are six months into a two year lease, and now he is wondering if they will extend it month to month after July 2020 or should we just sign another two year lease. Uh, what happened to quitting before it was up?
Wouldn't it be nice to have an extra half million? So, you are now expecting to spend more once we leave this HCOL?
Post by: Linea_Norway on January 30, 2019, 12:17:59 AM
Sigh. Hubby keeps raising the bar.
We are six months into a two year lease, and now he is wondering if they will extend it month to month after July 2020 or should we just sign another two year lease. Uh, what happened to quitting before it was up?
Wouldn't it be nice to have an extra half million? So, you are now expecting to spend more once we leave this HCOL?
An extra half million is a lot of money. We basically need an extra 50-75K and therefore do one more year. That gives enough slack.
Post by: itchyfeet on January 31, 2019, 11:45:18 AM
I am not quite ready to give up on 2019, but say 2020 is becoming more likely.
I had my annual performance interview today and told my boss I’d hang around another year. We shall see.
Sydney property prices continued to fall through January. I’d def be happier if the Sydney property market bottomed out before FIRE. No signs of the slide slowing yet.
On the other hand stocks were kind in Jan and we saved well. Net worth is up by a healthy amount for the month.
From June 2019 my working life is a month to month proposition. June 2020 is our absolute long-stop date.
One of the extra months we work will be to fund a trip to the Tokyo Olympics in July 2020. It’ll be awesome to be there and be FIRED.
Post by: FIREby2021 on February 01, 2019, 04:49:04 PM
January Highlights:
- I was able to take a short trip north to visit & help my parents out. Also an opportunity to see my (now 5-month-old) niece! While a good visit overall, I was able to better understand the sorts of things I hope to help out with during my longer remote-working visits I negotiated for this year.
- Health-Check: this is the best my back has felt starting out a new year since 2016, and I'm happy to have kept consistent w/my regimen of weight training mixed w/high-intensity efforts and yoga sessions. Really helps make the days fly by as well, as I'm often able to do sessions at the gym on campus. This area has been a huge journey since 2016 and I'm so thankful to feel healthy again.
- We killed our mortgage! For those who've been following along, you know we found and purchased our future FIRE home in Q4-17, and sold our current HCOL home shortly after in Q1-18. We are leasing out our FIRE home currently. Since the renters paid the lease in-full, we stood to realize income for 2018 tax purposes. Mortgage interest (and other items) paid will largely offset that income. However, now that we are in 2019, we executed our plan to payoff the mortgage (4.125%). We never intended to bring a mortgage with us into FIRE, and are extremely thankful to no longer have debt of any kind!
- We've been carrying 2 'alternative' investments on our books (small business ventures), and have now received complete payout from the 1st one. While the return premium may not have been on par with the risk (+12.7% annualized), it was a great success and that investment is now fully back in our Vanguard account. A fun fact about this investment (before we learned about FIRE), is that we funded it by 'downsizing' a car. I sold an expensive car for a cheaper one and used those dollars that would have been otherwise tied up in a depreciating asset. I guess it was a way to mitigate some of the downside risk of this small business venture. Ultimately we doubled our money in 6 years, and I still drive that "cheaper" car!
- Countdown: This will be a huge topic for us to work through this year. Our 'original' target was Q1-2021, but we've been diligent in trying to pursue a path toward Q1-2020. The math tells us that we should hit our FIRE # Q4-2020. If that truly is the case, we have lots of incentive to work a few extra months past that into early 2021. It would also lead us toward making a decision this summer to lease our FIRE home out for another term so it doesn't sit empty. Decisions and pros / cons that we will be rolling around in all year this year, as we watch the market do its thing.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum fund //
END OF MONTH PROGRESS:
JAN 2019 84.5%
Have a great weekend, we are off to a great start for 2019!
FIREby2021
Post by: itchyfeet on February 02, 2019, 04:21:39 AM
However, in response I have been playing round with a few ideas like allowing for a higher drawdown rate for very discretionary expenditure (in reality we’d only ever spend the money if the market returns were there), and assumed lower discretionary spending after (or if) I reach 75 years old, which I am comfortable with as an assumption. And I am also ok with assuming a small finite amount of post FIRE income from casual or opportunistic employment.
With all that we are at 91% of the reduced target. Once I throw in what we will be paid on contract termination we are at 93%.... Getting close.
Post by: Linea_Norway on February 02, 2019, 10:13:05 AM
Post by: FIREby2021 on February 02, 2019, 03:02:07 PM
Nice for those of you who know their exact percentage. We need to sell our house and the price is a joker. If we could get a really high price, we could Fire in 2018, but we both don't believe in that. Therefore another year (2020) so that we start using our assets a year later, and build up some extra stash.
Yes, I would agree ... our transition through HCOL housing sale to FIRE housing purchase was one of the largest uncertainties in our plan. Now that we have those as 'knowns', the only variables we're left to manage are savings and market performance in our pre-tax and after-tax accounts. Still subject to change on a monthly (daily!) basis :)
Post by: itchyfeet on February 03, 2019, 10:06:08 AM
Nice for those of you who know their exact percentage. We need to sell our house and the price is a joker. If we could get a really high price, we could Fire in 2018, but we both don't believe in that. Therefore another year (2020) so that we start using our assets a year later, and build up some extra stash.
Actually we have to sell a house too, so the numbers are best estimates. We will sell in maybe 3-5 years so an estimate will have to do for now.
Post by: Linea_Norway on February 07, 2019, 04:22:05 AM
Post by: TheContinentalOp on February 07, 2019, 06:06:33 AM
Post by: BlueMR2 on February 07, 2019, 08:52:08 AM
In theory would be OK now, but I have planned in an extra safety margin that still has me looking at May 2020. Even then I'm thinking part-time fun type work still to help justify these cars that I enjoy having around (but cost me dearly). Perhaps in the same place, perhaps a different industry even. I haven't ruled out extending my full time work at that point either if I'm on interesting projects because I do like where I work almost all the time. It's just that the stress level is high in my current capacity and that's a game for the young (could lead to an early grave if I stick around too long).
So, in short, for me it's more like that's the point at which I feel we could be comfortable without classic jobs of any kind. More of a true independence point rather than a classic retirement point.
Post by: Freedomin5 on February 08, 2019, 10:36:37 PM
Post by: Linea_Norway on February 14, 2019, 02:52:28 AM
DH would feel better to quit if he knows there is a good person available to take over his job.
DH is also planning to tell his boss the same thing soon.
Post by: robtown on February 23, 2019, 02:28:12 PM
Post by: Linea_Norway on February 24, 2019, 11:59:54 PM
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
04/2020 TheContinaltalOp
11/2020. ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date t.b.d.)
@CryingInThePool: welcome?
Post by: ixtap on February 26, 2019, 01:55:41 PM
2020 cohort members:
??/2020 apurplelife
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linda_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
04/2020 TheContinaltalOp
11/2020. ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date t.b.d.)
@CryingInThePool: welcome?
DH is going full bogleheads and doubling our pot for retirement. This especially conservative because if all goes according to plan we should spend significantly less than average the first 5 years or so, thus mitigating sequence of returns risks. I am considering going back to work later this year, even though my income will likely be less than his bonus.
Post by: Freedomin5 on February 26, 2019, 03:32:18 PM
Post by: ixtap on February 26, 2019, 03:52:43 PM
@ixtap Then why go back?
It would shave a few months off. I am still undecided, as I just hurt my back this week, reminding me of the limitations of any work.
Post by: aspiringnomad on February 26, 2019, 11:07:24 PM
Post by: Linea_Norway on February 27, 2019, 12:24:32 AM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
04/2020 TheContinaltalOp
11/2020. ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date t.b.d.)
Post by: TheContinentalOp on March 01, 2019, 06:59:48 AM
Considering OMY depending on
1. How I feel about my job
2. Investment returns over the next year
3. The state of the individual health insurance market
4. How my writing career is going (Made my first professional sale last month)
Post by: BFGirl on March 01, 2019, 11:31:25 AM
Post by: Linea_Norway on March 01, 2019, 12:07:32 PM
671 days...
Maybe you should count working days. Then the number willbe smaller.
Post by: BFGirl on March 01, 2019, 12:15:08 PM
671 days...
Maybe you should count working days. Then the number willbe smaller.
Nah...this is the number of days until I hopefully don't even have to think about work. ;)
Post by: bluebelle on March 01, 2019, 02:07:12 PM
there are approximately 220 'work' days in a calendar year. So 671 work days would put you well into 2021. I think that was the point.671 days...
Maybe you should count working days. Then the number willbe smaller.
Nah...this is the number of days until I hopefully don't even have to think about work. ;)
Post by: bluebelle on March 01, 2019, 02:44:05 PM
Although my OMY might take me to March 2021 to get a nice bonus and restricted share vesting, I don't think we'll need the extra money, but it's hard to walk away from it when I don't find my job unbearable.
DH is definately retiring 2020 and we're moving. I work from home so I can work anywhere. Our retirement home we're building will be done the spring 2020, and I do not want to own two homes any longer than necessary, so he will definately be done (and he's so ready to go). I'm the higher income earner anyway. I like my job, enjoy the mental stimulation. We plan to be in that house 30+ years, so if I have to work an extra 6 months at a job I like to have things the way I want, I'm okay with it. Although, I think we have more than enough now, I'm a worrier, and would rather be over-prepared.....
Post by: Linea_Norway on March 01, 2019, 07:18:36 PM
I'm not sure that I've 'officially' joined the 2020 cohort. I'd like to throw my hat in.
Although my OMY might take me to March 2021 to get a nice bonus and restricted share vesting, I don't think we'll need the extra money, but it's hard to walk away from it when I don't find my job unbearable.
DH is definately retiring 2020 and we're moving. I work from home so I can work anywhere. Our retirement home we're building will be done the spring 2020, and I do not want to own two homes any longer than necessary, so he will definately be done (and he's so ready to go). I'm the higher income earner anyway. I like my job, enjoy the mental stimulation. We plan to be in that house 30+ years, so if I have to work an extra 6 months at a job I like to have things the way I want, I'm okay with it. Although, I think we have more than enough now, I'm a worrier, and would rather be over-prepared.....
Sounds like a good plan. And being able to work from home is better than working in an office with noise and commuting.
Post by: Maenad on March 02, 2019, 08:08:27 AM
Post by: bluebelle on March 02, 2019, 09:29:09 AM
I'm not sure that I've 'officially' joined the 2020 cohort. I'd like to throw my hat in.thank you Linda.....I know I shouldn't need external validation, but I do.....and it's something I can't really discuss in real life.
Although my OMY might take me to March 2021 to get a nice bonus and restricted share vesting, I don't think we'll need the extra money, but it's hard to walk away from it when I don't find my job unbearable.
DH is definately retiring 2020 and we're moving. I work from home so I can work anywhere. Our retirement home we're building will be done the spring 2020, and I do not want to own two homes any longer than necessary, so he will definately be done (and he's so ready to go). I'm the higher income earner anyway. I like my job, enjoy the mental stimulation. We plan to be in that house 30+ years, so if I have to work an extra 6 months at a job I like to have things the way I want, I'm okay with it. Although, I think we have more than enough now, I'm a worrier, and would rather be over-prepared.....
Sounds like a good plan. And being able to work from home is better than working in an office with noise and commuting.
Post by: Linea_Norway on March 02, 2019, 09:34:05 AM
Woo hoo! As of the end of yesterday we're at 90% FI. Forecast is to hit full FI sometime in the 4th quarter, with RE between April and October 2020. I'll keep the October number on this thread probably until the beginning of 2020, when we'll likely be able to narrow it down more.
Congrats on the 90%
Post by: itchyfeet on March 02, 2019, 11:08:53 AM
Woo hoo! As of the end of yesterday we're at 90% FI. Forecast is to hit full FI sometime in the 4th quarter, with RE between April and October 2020. I'll keep the October number on this thread probably until the beginning of 2020, when we'll likely be able to narrow it down more.
Congrats on the 90%
Yeah congrats of 90%.
I have my fingers crossed that with receipt of my annual bonus this month that we will be at 90% before the end of March.... again.... we first topped 90% last August, but stumbled back down to 85% in Q4 last year.
Post by: robtown on March 02, 2019, 05:30:57 PM
A friend made me an offer that equated to the same salary but $10k more in 401k and 5 more days leave (5 weeks). It also included overseas travel and some other perks. The deciding point was whether my current company would come trough on a 4 day workweek, and they did.
In April 2020 I'll either retire or drop to 3 day workweek until some time in December.
Post by: Linea_Norway on March 03, 2019, 12:13:15 AM
I've made my first step toward winding down. Between 2 weeks and 2 months from now I'm cutting back to 32 hour / 4 day workweeks. I'll still get 3 weeks vacation and 10 federal holidays, but pay will be cut 20%. I am looking forward to some 4 day weekends.
A friend made me an offer that equated to the same salary but $10k more in 401k and 5 more days leave (5 weeks). It also included overseas travel and some other perks. The deciding point was whether my current company would come trough on a 4 day workweek, and they did.
In April 2020 I'll either retire or drop to 3 day workweek until some time in December.
Welcome to the club. You are increasing your weekend by 50%, which is a lot.
My weekend have become way more relaxed now with that extra day.
And the 20% less pay, is pre-tax. In our case, the highest income rates have the higest tax bracket. So the nett difference in oay is less than 20%, more like 15%. I am noticing the biggest difference financially in missing out on the higest bracket for company-paid pension contributions.
Post by: FIREby2021 on March 03, 2019, 09:27:57 AM
February Highlights:
- Work: Took another business trip to India; have been enjoying this route every six months or so ... great people, and we are hoping to stitch on a vacation to the back-end of one of these business trips in the future! Also going through a change with team structures at the office; I will have a new manager in Q2-2019. Should be a good fit, and I'm hoping for continued autonomy!
- Health: Staying consistent w/my regimen of weight training mixed w/high-intensity work and yoga sessions ... I've met my goal weight and enjoy how I'm feeling now that I've been at this for about a year. Next month I get my annual physical which will also be good information.
- It is so nice being mortgage free (future FIRE home)!!!
- Savings: Met all our goals, and wow did the market ever perform in our favor this month! YTD we have seen the needle move >5% in our favor toward reaching our ultimate FI goal! Pretty crazy; I expect that to slow for the rest of this year.
- Countdown: If you've been following along, our 'original' target was Q1-2021 and we've been pursuing a path toward Q1-2020. Current math tells us we should reach FI by Q3-2020. If so, we have lots of incentive to work two extra quarters into early 2021. It also ties to deciding whether or not to lease our FIRE home out for another term after this summer so it doesn't sit empty. Decisions and pros / cons that we will roll around with this year as we watch the market do its thing.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum fund //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
Have a great weekend, we are off to a great start for 2019!
FIREby2021
Post by: FIREby2021 on March 03, 2019, 09:38:03 AM
Woo hoo! As of the end of yesterday we're at 90% FI. Forecast is to hit full FI sometime in the 4th quarter, with RE between April and October 2020. I'll keep the October number on this thread probably until the beginning of 2020, when we'll likely be able to narrow it down more.
Nice on the 90%!!
That's gotta be a motivating number to see, we hope to join you in that club at some point later this year :-)
Sort of random, but we spent 14 months in the "60s", 12 months in the "70s", and 9 months so far in the "80s" ... it's fun to look back on that journey.
Post by: FireLane on March 03, 2019, 07:19:09 PM
I've made my first step toward winding down. Between 2 weeks and 2 months from now I'm cutting back to 32 hour / 4 day workweeks. I'll still get 3 weeks vacation and 10 federal holidays, but pay will be cut 20%. I am looking forward to some 4 day weekends.
[...]
In April 2020 I'll either retire or drop to 3 day workweek until some time in December.
Congrats on going part-time, and welcome to the club! It makes work so much more tolerable, I should have done it long ago.
I'm thinking the same as you. If I hit my number in 2020, as I'm expecting, I may ask to go down to 3-day weeks. If they say no, I'll just quit, which I was planning to do anyway. If they say yes, I'll try that out for a while and see how it feels. It would be nice to not be at the mercy of the market for health insurance, and it'll give my stash a little more time to grow without interference.
Post by: rab-bit on March 04, 2019, 07:26:33 AM
I've made my first step toward winding down. Between 2 weeks and 2 months from now I'm cutting back to 32 hour / 4 day workweeks. I'll still get 3 weeks vacation and 10 federal holidays, but pay will be cut 20%. I am looking forward to some 4 day weekends.
[...]
In April 2020 I'll either retire or drop to 3 day workweek until some time in December.
Congrats on going part-time, and welcome to the club! It makes work so much more tolerable, I should have done it long ago.
I'm thinking the same as you. If I hit my number in 2020, as I'm expecting, I may ask to go down to 3-day weeks. If they say no, I'll just quit, which I was planning to do anyway. If they say yes, I'll try that out for a while and see how it feels. It would be nice to not be at the mercy of the market for health insurance, and it'll give my stash a little more time to grow without interference.
This is my plan also. Shortly after 2020 begins, I'll request a 3-day workweek and do that for 1-3 years depending on how well it's working. And if they say no, I'll just quit.
DW recently requested part-time (3 days per week) and is supposed to get an answer today.
Even if we were both working 3 days per week, we'd still be earning nearly twice our living expenses. If I thought I could do 2-day weeks, I'd probably do that, but my employer requires at least 24 hours per week for health insurance coverage.
Post by: ysette9 on March 04, 2019, 09:57:08 AM
Post by: Linea_Norway on March 04, 2019, 10:13:11 AM
Congrats on 86 and 90% numbers! Those are great. I did a quick calculation for us yesterday and we are at 76% which isn’t as impressive. 2020 is probably a stretch but I’m mentally burned out enough that I need to keep that as the goal to keep me going. A couple of money dates ago we randomly set ourselves the interim goal of 85% to be the point at which we would consider something like requesting to go part-time or some similar change. I do wonder if we will be too chicken to actually pull the trigger on something like reduced work when we aren’t at the full number?
We have reduced to 80% without reaching the full number, for health reasons.
Post by: AO1FireTo on March 04, 2019, 06:56:08 PM
I'd love to join the 2020 cohort, and we could do it if we sold some real estate and downsized a bit to a LCOL area. Issue is DW does want to stop working, she sees herself working for 10 more years. Anyone else had this situation? How did yo handle it.
She's a great wife, and really frugal, issue probably is she doesn't have something to retire to.
Post by: itchyfeet on March 04, 2019, 08:13:16 PM
Love this thread.
I'd love to join the 2020 cohort, and we could do it if we sold some real estate and downsized a bit to a LCOL area. Issue is DW does want to stop working, she sees herself working for 10 more years. Anyone else had this situation? How did yo handle it.
She's a great wife, and really frugal, issue probably is she doesn't have something to retire to.
A couple of years ago my DW was the same in wanting to keep working. As FaiRE has got closer and she has dreamt a bit more of the opportunities it presents, she is less and less inclined to keep working. So much so that I have had to remove any future income contribution from her from our FIRE plans.
I was 100% supportive of her continuing to work if she wanted to.
Post by: ixtap on March 04, 2019, 08:15:36 PM
Love this thread.
I'd love to join the 2020 cohort, and we could do it if we sold some real estate and downsized a bit to a LCOL area. Issue is DW does want to stop working, she sees herself working for 10 more years. Anyone else had this situation? How did yo handle it.
She's a great wife, and really frugal, issue probably is she doesn't have something to retire to.
A couple of years ago my DW was the same in wanting to keep working. As FaiRE has got closer and she has dreamt a bit more of the opportunities it presents, she is less and less inclined to keep working. So much so that I have had to remove any future income contribution from her from our FIRE plans.
I was 100% supportive of her continuing to work if she wanted to.
DH thinks he can go another five years because it is going to get easier. Bwwaaaahhaaahhaaaa. We might be back to 2020 once he comes down to earth.
Post by: Linea_Norway on March 05, 2019, 12:43:30 AM
Love this thread.
I'd love to join the 2020 cohort, and we could do it if we sold some real estate and downsized a bit to a LCOL area. Issue is DW does want to stop working, she sees herself working for 10 more years. Anyone else had this situation? How did yo handle it.
She's a great wife, and really frugal, issue probably is she doesn't have something to retire to.
A couple of years ago my DW was the same in wanting to keep working. As FaiRE has got closer and she has dreamt a bit more of the opportunities it presents, she is less and less inclined to keep working. So much so that I have had to remove any future income contribution from her from our FIRE plans.
I was 100% supportive of her continuing to work if she wanted to.
DH thinks he can go another five years because it is going to get easier. Bwwaaaahhaaahhaaaa. We might be back to 2020 once he comes down to earth.
I see this happening to my friends. He has passed 60 some years ago and is a "normal" early pensioner. She is in her late forties and still working. I don't think they ever thought about the concept of FIRE. She probably thinks everyone ought to work until normal retirement, like most people think.
When he is home, he is running the household and doing all the household tasks, while she works and commutes. But he also does stuff on his own for months at the time. E.g. he likes spending time at their cabin, 2400 kms away. All that time she is home alone, or visits him once in that period.
It is a bit weird that she is now living alone for weeks/months at the time, several times a year.
So it depends on what your FIRE will look like. Will you mostly stay at home? Or do you want to travel to other places? Travelling should probably be done mostly alone. Another option is, does your spouse want to take more vacations, outside the school vacation periods? That way you can do some travel together, while the spouse is still working (a little less).
Post by: FireLane on March 05, 2019, 08:12:15 PM
I'd love to join the 2020 cohort, and we could do it if we sold some real estate and downsized a bit to a LCOL area. Issue is DW does want to stop working, she sees herself working for 10 more years. Anyone else had this situation? How did yo handle it.
Does she have to retire at the same time as you? You could retire first, if you have enough investments to support your share of household expenses, and let her keep working if that's what she wants.
Plus, if you retire first, she may see how much fun you're having and decide she wants to join you.
Post by: AO1FireTo on March 05, 2019, 09:09:19 PM
I'd love to join the 2020 cohort, and we could do it if we sold some real estate and downsized a bit to a LCOL area. Issue is DW does want to stop working, she sees herself working for 10 more years. Anyone else had this situation? How did yo handle it.
Does she have to retire at the same time as you? You could retire first, if you have enough investments to support your share of household expenses, and let her keep working if that's what she wants.
Plus, if you retire first, she may see how much fun you're having and decide she wants to join you.
Yes this is a good idea. I think we'll stay put where we live, I'll stick it out 5 more years so we can continue to live in our HCOL area. She can work another 5 years past that. I'll probably look at working at something, just without any economic pressure. So five more years puts me at 2024, doh… If she changes her mind, we'll sell our house and move then late 2020 would be entirely feasible.
Post by: bluebelle on March 10, 2019, 05:23:09 PM
I'm not sure that I've 'officially' joined the 2020 cohort. I'd like to throw my hat in.Crap, I think my OMY is hitting hard.....got my annual review last week, bigger raise than I expected (with a promotion probably coming later in the year), a nice bonus, and more equity shares.....like I said, I like my job, I currently work on very interesting projects.....if I'm still having fun, I think I'm definitely going to April 1 2021 (ie give notice the day I get my 2021 bonus - company has been known to really shaft anyone giving a hint of leaving prior to numbers being given). And the more I think about it, the less I think part time will work (I'm working a problem now, on a Sunday night), I think part time would just mean I get paid for 3 days and work 6.
Although my OMY might take me to March 2021 to get a nice bonus and restricted share vesting, I don't think we'll need the extra money, but it's hard to walk away from it when I don't find my job unbearable.
DH is definitely retiring 2020 and we're moving. I work from home so I can work anywhere. Our retirement home we're building will be done the spring 2020, and I do not want to own two homes any longer than necessary, so he will definitely be done (and he's so ready to go). I'm the higher income earner anyway. I like my job, enjoy the mental stimulation. We plan to be in that house 30+ years, so if I have to work an extra 6 months at a job I like to have things the way I want, I'm okay with it. Although, I think we have more than enough now, I'm a worrier, and would rather be over-prepared.....
Post by: Linea_Norway on March 11, 2019, 01:55:30 AM
I'm not sure that I've 'officially' joined the 2020 cohort. I'd like to throw my hat in.Crap, I think my OMY is hitting hard.....got my annual review last week, bigger raise than I expected (with a promotion probably coming later in the year), a nice bonus, and more equity shares.....like I said, I like my job, I currently work on very interesting projects.....if I'm still having fun, I think I'm definitely going to April 1 2021 (ie give notice the day I get my 2021 bonus - company has been known to really shaft anyone giving a hint of leaving prior to numbers being given). And the more I think about it, the less I think part time will work (I'm working a problem now, on a Sunday night), I think part time would just mean I get paid for 3 days and work 6.
Although my OMY might take me to March 2021 to get a nice bonus and restricted share vesting, I don't think we'll need the extra money, but it's hard to walk away from it when I don't find my job unbearable.
DH is definitely retiring 2020 and we're moving. I work from home so I can work anywhere. Our retirement home we're building will be done the spring 2020, and I do not want to own two homes any longer than necessary, so he will definitely be done (and he's so ready to go). I'm the higher income earner anyway. I like my job, enjoy the mental stimulation. We plan to be in that house 30+ years, so if I have to work an extra 6 months at a job I like to have things the way I want, I'm okay with it. Although, I think we have more than enough now, I'm a worrier, and would rather be over-prepared.....
Good for your that you like your job. But working weekends is not good for your (mental) health. Of course a company wants to give bonus/promotions to people who work more than their 40 hours a week.
You can always decide next year what your final plan will be.
Post by: Sand101 on March 13, 2019, 09:32:36 PM
With a couple important clients retiring at the same time and with the life expectancy in my family being so poor (though my health is excellent *knockonwood* presently) I have to think about my realistic time left. Combine that with the stress inherent in the job, though it's a fulfilling position, and it's about time.
Gauntlet thrown.
Post by: Freedomin5 on March 14, 2019, 12:14:10 AM
@ixtap Then why go back?
It would shave a few months off. I am still undecided, as I just hurt my back this week, reminding me of the limitations of any work.
Yeah, that makes sense. OMY and not wanting to leave that extra little bit of money on the table really gets you sometimes.
Post by: Freedomin5 on March 14, 2019, 12:16:51 AM
Post by: Linea_Norway on March 14, 2019, 01:03:09 AM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
04/2020 TheContinaltalOp
11/2020. ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
12/2020 Sand101
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date t.b.d.)
Welcome, Sand101. You are so right to FIRE early if your family has a tendency to not become so old.
My father died at 50, so my family outlooks aren't so good either. I hope to experience some years of FIRE before that. And hope that they have developed better cures by now...
Post by: Linea_Norway on March 14, 2019, 01:22:45 AM
DH speculated whether we should try something similar. Resigning earlier than planned, to let our employers offer a better contract.
To me that is pretty high risk and I am a bit of a risk averse person. I know my employer would like to keep me. But I wouldn't want to risk having to look for another job.
I am thinking of telling them at my next appraisal/assessment that I am not happy with my current pay, that I got too little increase last year. According to DH I have nothing to lose by telling them that. Maybe they will give me more in the hope that I won't leave like one of my other valuable colleagues with the same type of knowledge as I have did.
What are your thoughts on speculating in resigning early in the hope to get a better offer?
Post by: Sand101 on March 14, 2019, 04:36:46 AM
What are your thoughts on speculating in resigning early in the hope to get a better offer?
I wouldn't mention a thing until you are prepared for a permanent separation. It can certainly be tried as a tactic, but you should be prepared for your company to tell you to have a nice life and to vacate your office by the end of the day.
Post by: Freedomin5 on March 14, 2019, 04:42:12 AM
What are your thoughts on speculating in resigning early in the hope to get a better offer?
I would do that only if you were actually able to walk away. I know someone who actually resigned. Then the company asked her to come back as a contractor for 30% more pay. But you have to be ready to follow through on your position.
Post by: 2Birds1Stone on March 14, 2019, 07:51:27 AM
Post by: Linea_Norway on March 14, 2019, 08:30:22 AM
Linda, it sounds like you are looking for just about any excuse to keep working longer. That's fine, but let's call a spade a spade.
No, I don't want to work longer! Can't wait to stop. But I need to finish working the whole of 2019 to be able to keep the pension money that my employer is putting into it this year.
Post by: TheFIExplorer on March 15, 2019, 11:13:03 PM
I have just joined this forum, and it's really inspiring to see the sheer number of people on their own journeys and with their own targets.
Post by: Linea_Norway on March 16, 2019, 12:44:12 AM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
10/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
04/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date to decided)
Welcome, TheFIExplorer.
Did you find the site because you thought you were close to FI and googled on early retirement?
Post by: TheFIExplorer on March 16, 2019, 05:04:15 PM
It was more that I was aware of the forum, having read through MMM in a binge a couple of years ago, but I was just curious to see how big the community was after a couple of other Australian FI bloggers mentioned being active in it. So I thought I'd take a look. Thanks so much for the welcome!
Post by: FIREby2021 on March 17, 2019, 12:14:52 PM
For those of us with FIRE dates which are now 1-2 years away, I'm thinking about the potential 'jolt' of change that is coming. These thoughts came after reading the article: https://www.caniretireyet.com/fire-make-life-harder/ (https://www.caniretireyet.com/fire-make-life-harder/)
Unintentionally, we've already begun taking steps toward making some necessary changes needed for our ultimate FIRE goal. It got me thinking that it is probably a bit easier that way ... to spread out the "change jolts" a bit, rather than start everything new at T=0 once we reach our FIRE date. It is a luxury to be able to do so, but some of it just requires building a gradual exit plan toward reaching the desired FIRE lifestyle goal.
Things I'm thinking about:
1. Selling / Downsizing a House / Moving: Mission accomplished for us, as we've already purchased our FIRE home, sold our HCOL home and moved into a downsized rental for the home-stretch. But I remember the "change jolt" that we felt for months after selling that HCOL home. I didn't realize how emotionally attached we were to it. Today, it's a lot better; 1-year later, and we are now in the phase where we look forward with anticipation to move out of this rental into our future FIRE home. I'm glad that 1st transition step is behind us.
2. Leaving a Job Environment: This will be harder for us, no doubt. We actually like our jobs for the most part, and work with great people doing things that feel valuable. I spend ~50hrs per week and DW 30+hrs per week related to our jobs - that's a lot of hours to replace each week! New routines, new hobbies, new town, new everything! I'm excited as we have goals & hobbies directly associated with our new FIRE location dreams, but they are still relative unknowns at this time. Who's to say how that transition will actually unfold? Something we are trying to do now to ease the "change jolt" here for me is to practice using remote work schedule opportunities, and for DW to transition into a sabbatical mindset before our FIRE date. These will be big changes for us after working consistently for 15-20 years.
3. Leaving Social Circles: Another category that will likely be a "change jolt". We have developed great community here from our work, gym and church here. While this will be irreplaceable in some ways, we know we can develop relationships again over time in a new town. For those who might be leaving family networks (not our situation), that could also be a big transition. Part of our FIRE timing goal is that we think we can re-develop new social circles easier in our early 40s vs. potentially trying to do so in our 60s following a traditional retirement timeline. That said, I'm sure that first couple of FIRE years will be a challenge. Something we have unintentionally / intentionally done, is 'market' our FIRE location to some good friends. One couple has already relocated (!!) to our FIRE location, and we have invited others to join us on vacation trips these next 2 years to the area. So maybe our marketing plan will help, haha ... always fun to adventure with others!
4. Spending Plan Changes: Most of us likely have this aspect more dialed-in ... less subject to "change jolts". That said, normal expenses in one city (before FIRE) relative to normal expenses in another part of the country (after FIRE) carry uncertainty. We do what we can to track & project expenses, but who's to say what new hobbies, experiences or lifestyle changes FIRE will bring. Another vote for reasonable contingencies!
Y'all have a great day,
FIREby2021
Post by: markbike528CBX on March 17, 2019, 12:57:42 PM
For those who are new or haven't looked at the Post-FIRE sub forum, there is a Pre-FIRE checklist collecting lots of members experiences.
https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/
Post by: Linea_Norway on March 18, 2019, 01:53:45 AM
Random Sunday afternoon musing.
For those of us with FIRE dates which are now 1-2 years away, I'm thinking about the potential 'jolt' of change that is coming. These thoughts came after reading the article: https://www.caniretireyet.com/fire-make-life-harder/ (https://www.caniretireyet.com/fire-make-life-harder/)
Unintentionally, we've already begun taking steps toward making some necessary changes needed for our ultimate FIRE goal. It got me thinking that it is probably a bit easier that way ... to spread out the "change jolts" a bit, rather than start everything new at T=0 once we reach our FIRE date. It is a luxury to be able to do so, but some of it just requires building a gradual exit plan toward reaching the desired FIRE lifestyle goal.
Things I'm thinking about:
1. Selling / Downsizing a House / Moving: Mission accomplished for us, as we've already purchased our FIRE home, sold our HCOL home and moved into a downsized rental for the home-stretch. But I remember the "change jolt" that we felt for months after selling that HCOL home. I didn't realize how emotionally attached we were to it. Today, it's a lot better; 1-year later, and we are now in the phase where we look forward with anticipation to move out of this rental into our future FIRE home. I'm glad that 1st transition step is behind us.
2. Leaving a Job Environment: This will be harder for us, no doubt. We actually like our jobs for the most part, and work with great people doing things that feel valuable. I spend ~50hrs per week and DW 30+hrs per week related to our jobs - that's a lot of hours to replace each week! New routines, new hobbies, new town, new everything! I'm excited as we have goals & hobbies directly associated with our new FIRE location dreams, but they are still relative unknowns at this time. Who's to say how that transition will actually unfold? Something we are trying to do now to ease the "change jolt" here for me is to practice using remote work schedule opportunities, and for DW to transition into a sabbatical mindset before our FIRE date. These will be big changes for us after working consistently for 15-20 years.
3. Leaving Social Circles: Another category that will likely be a "change jolt". We have developed great community here from our work, gym and church here. While this will be irreplaceable in some ways, we know we can develop relationships again over time in a new town. For those who might be leaving family networks (not our situation), that could also be a big transition. Part of our FIRE timing goal is that we think we can re-develop new social circles easier in our early 40s vs. potentially trying to do so in our 60s following a traditional retirement timeline. That said, I'm sure that first couple of FIRE years will be a challenge. Something we have unintentionally / intentionally done, is 'market' our FIRE location to some good friends. One couple has already relocated (!!) to our FIRE location, and we have invited others to join us on vacation trips these next 2 years to the area. So maybe our marketing plan will help, haha ... always fun to adventure with others!
4. Spending Plan Changes: Most of us likely have this aspect more dialed-in ... less subject to "change jolts". That said, normal expenses in one city (before FIRE) relative to normal expenses in another part of the country (after FIRE) carry uncertainty. We do what we can to track & project expenses, but who's to say what new hobbies, experiences or lifestyle changes FIRE will bring. Another vote for reasonable contingencies!
Y'all have a great day,
FIREby2021
Yeah, this is an exciting time. I recognize all your concerns as they also apply to our situation.
1: Selling/moving: We need to sell our home (with high price estimate) in MCOL area. We are depending on a certain minimum sales price to be able to FIRE according to plan. I am pretty nervous to synchronize the sale with quitting our jobs. I would preferably sell first, to know the price. But as we have a really long notice period (3 months!), we also need to live somewhere while we still work. But, if we sell our home for a good price, we don't need to work half of 2020. So it's difficult. Almost so that your strategy of selling first, might have something to it. We have decided to first rent something semi-local (max 2 hours driving) immediately after, because we don't know what our FIRE community will be. We think that by renting semi-locally, we will have less stress when moving, as we can just drive up and down with our stuff.
Of course we will also need to sell even more stuff, like the big dining table. But that can take time. Better not to stress with it.
2: Leaving the job: I don't think I would miss having a job. But if I would want to be attached to my former employer by doing some occasional consultancy work, I should keep in touch. I think it is easier to keep that contact immediately than coming back after 1-2 years and asking for consultancy work. I also wonder how we will fill our days. I love being outside, hiking, picking mushrooms and greens. Especially plants are something I have a lot to learn about. DH has his sewing projects. We also have other hobbies, but some of them are weather dependent and others location dependent. As long as we don't live at our FIRE location, we will need to travel. Travel is probably something we want to do anyway. Norway is a country with at least 1 month every spring that sucks a bit, with very dirty snow remains and slippery roads. It varies through the country when that period is. It would be good to travel around, to avoid this period.
3 Leaving social circles: I have a bit less contacts with friends than earlier. But I have gained a new friend. I am also convinced that I can make new friends, when I only have the courage to talk to conone new. This latest new friend is married to a new colleague of mine. When I heard she didn't work (for medical reasons), I invited her to go on a few trips with me on my Friday off. DH used to have a social circle through his sports club. But for medical reasons, DH is not capable of doing those sports in the same way as before. So this contact has almost vanished. I am a little more worried about him and social contacts them about myself.
4 Spending plan changes: As we will rent, we will get a pretty high monthly cost that we currently don't have. But I have calculated that the sum of our future house will gain in the stock market over time (counting 4%), and checked what that is in monthly rental price. We should be able to rent something half decent for that price, but not anything high end. When we move out into the country, at some later time, I am curious about the life cost. I know that houses in some cases cost very little. But are there as many cheap shops are there are in our current region? Will the goods in shops have the same prices throughout the country? On the other hand, will we be able to shop in Sweden more frequently, where stuff is cheaper? Nowadays it is too far driving to be profitable. I hope we can catch and eat a lot more fish and buy less meat. How much will socializing in a new life cost? Will we more often visit festivals and such?
Post by: Linea_Norway on March 19, 2019, 07:45:25 AM
I think my FIRE date for October 2020 is not correct. If we indeed manage to sell our home in the winter, I think we will FIRE much earlier, around April 2020. But it is all very uncertain how such a sale would go.
Post by: Bateaux on March 19, 2019, 12:16:27 PM
Post by: ixtap on March 20, 2019, 03:44:32 PM
Post by: ysette9 on March 20, 2019, 03:50:01 PM
I introduced DH to Firecalc today. Once he realized that he was aiming above 100% success rates, even for our highest ever annual spend, he came back down to earth. We will see where that new info leads next.That is a win!
I introduced my parents to cFIREsim and that was fairly eye-opening for them when they saw how much they could spend and still be at 100% success rate.
I wish I had done that several years earlier and saved them the extra work.
Post by: Bateaux on March 20, 2019, 04:04:32 PM
I introduced DH to Firecalc today. Once he realized that he was aiming above 100% success rates, even for our highest ever annual spend, he came back down to earth. We will see where that new info leads next.
We're well beyond what we'll likely ever spend. The calculation says we can spend 60k a year, with our current balance, that's a little under 3% withdrawal. We'll likely end 30 years of retirement with between 2MM and 13MM. I've come to desire leaving millions to a few charities. This is past my needs now and on to something better. You never know where FIRE will lead you.
Post by: Linea_Norway on March 21, 2019, 02:46:59 AM
Bit it is always nice if your spouse collects their own information from reliable sources and make up their own mind and hopefully ends up being equally convinced that 2020 is a very good year for retiring.
Post by: rab-bit on March 23, 2019, 12:41:21 PM
I've made my first step toward winding down. Between 2 weeks and 2 months from now I'm cutting back to 32 hour / 4 day workweeks. I'll still get 3 weeks vacation and 10 federal holidays, but pay will be cut 20%. I am looking forward to some 4 day weekends.
[...]
In April 2020 I'll either retire or drop to 3 day workweek until some time in December.
Congrats on going part-time, and welcome to the club! It makes work so much more tolerable, I should have done it long ago.
I'm thinking the same as you. If I hit my number in 2020, as I'm expecting, I may ask to go down to 3-day weeks. If they say no, I'll just quit, which I was planning to do anyway. If they say yes, I'll try that out for a while and see how it feels. It would be nice to not be at the mercy of the market for health insurance, and it'll give my stash a little more time to grow without interference.
This is my plan also. Shortly after 2020 begins, I'll request a 3-day workweek and do that for 1-3 years depending on how well it's working. And if they say no, I'll just quit.
DW recently requested part-time (3 days per week) and is supposed to get an answer today.
Even if we were both working 3 days per week, we'd still be earning nearly twice our living expenses. If I thought I could do 2-day weeks, I'd probably do that, but my employer requires at least 24 hours per week for health insurance coverage.
Update: DW has been approved for part-time with benefits! She has already started working 4-day weeks and will transition to 3-day weeks once they hire a new FT person and she has trained them. After that, she starts working on "special projects".
Post by: Linea_Norway on March 23, 2019, 12:55:47 PM
I've made my first step toward winding down. Between 2 weeks and 2 months from now I'm cutting back to 32 hour / 4 day workweeks. I'll still get 3 weeks vacation and 10 federal holidays, but pay will be cut 20%. I am looking forward to some 4 day weekends.
[...]
In April 2020 I'll either retire or drop to 3 day workweek until some time in December.
Congrats on going part-time, and welcome to the club! It makes work so much more tolerable, I should have done it long ago.
I'm thinking the same as you. If I hit my number in 2020, as I'm expecting, I may ask to go down to 3-day weeks. If they say no, I'll just quit, which I was planning to do anyway. If they say yes, I'll try that out for a while and see how it feels. It would be nice to not be at the mercy of the market for health insurance, and it'll give my stash a little more time to grow without interference.
This is my plan also. Shortly after 2020 begins, I'll request a 3-day workweek and do that for 1-3 years depending on how well it's working. And if they say no, I'll just quit.
DW recently requested part-time (3 days per week) and is supposed to get an answer today.
Even if we were both working 3 days per week, we'd still be earning nearly twice our living expenses. If I thought I could do 2-day weeks, I'd probably do that, but my employer requires at least 24 hours per week for health insurance coverage.
Update: DW has been approved for part-time with benefits! She has already started working 4-day weeks and will transition to 3-day weeks once they hire a new FT person and she has trained them. After that, she starts working on "special projects".
Sounds good. According to my MIL, many years ago, 3 days a week was the best length of a working week.
Post by: Linea_Norway on March 27, 2019, 06:05:01 AM
Last year, I hoped to FIRE in October 2019. Then, after we went in detail through my spreadsheet, DH and I decided to postpone FIRE to somewhere in 2020. So this extra year to me feels extra heavy.
On the one side, it is easier to deal with the BS part of my job, as I know I don't have to do it for another 20 years like most my colleagues. But is still about a whole year from now, give or take some months longer of shorter (we don't have an exact end date).
But as we have financially optimised our life already, and decided to work 80%, which is not financially optimal, there isn't much we can do to improve our finances, other than start working 100% again. And that last thing is not attractive, as we have started to appreciate the longer weekends. We just need to sit it out.
As we plan to relocate during FIRE I still want to visit some more places in my region that I haven't visited before. So far I have seen two, although they weren't in the best time of the year. I have more plans for when the snow is gone. That will probably be in another couple of weeks.
Post by: FIREby2021 on March 27, 2019, 11:35:19 AM
Isn't this (almost) last year the hardest?
Last year, I hoped to FIRE in October 2019. Then, after we went in detail through my spreadsheet, DH and I decided to postpone FIRE to somewhere in 2020. So this extra year to me feels extra heavy.
On the one side, it is easier to deal with the BS part of my job, as I know I don't have to do it for another 20 years like most my colleagues. But is still about a whole year from now, give or take some months longer of shorter (we don't have an exact end date).
But as we have financially optimised our life already, and decided to work 80%, which is not financially optimal, there isn't much we can do to improve our finances, other than start working 100% again. And that last thing is not attractive, as we have started to appreciate the longer weekends. We just need to sit it out.
As we plan to relocate during FIRE I still want to visit some more places in my region that I haven't visited before. So far I have seen two, although they weren't in the best time of the year. I have more plans for when the snow is gone. That will probably be in another couple of weeks.
I think this "year before final year" can be hard, particularly if there is a gap between expectations and reality. I also think some people make it harder on themselves by focusing more on the negatives (reasons I 'must' FIRE) vs. the positives that are often still a real part of everyday working life. Not saying we should ignore the reality of things that are causing harm, but to be careful and not make more of them than we should be.
Your situation sounds tricky, given you made decisions to change work schedules before knowing the details of what your FIRE spreadsheet needs were. I think it's a good reminder for all of us to do our best to double-check / triple-check before taking significant actions. I'm glad for you guys that you seem to really enjoy the shorter work week and that it is an acceptable trade-off along your journey. That's really what we're all doing here anyway ... taking time to assess what trade-offs make the most sense for each of our situations. It's helpful to hear how others go about it as well!
Post by: Rubyvroom on March 27, 2019, 11:49:07 AM
Isn't this (almost) last year the hardest?
As a continuation of the other thread I saw us both post in regarding this topic, yes, many times yes. Some days at work I think, man I really love who I work with, what a great family of coworkers, I am really going to miss them. Other days I'm over here Googling #vanlife and thinking, I mean really I could walk out of here right now if I just lived in a van... ha.
Post by: Linea_Norway on March 27, 2019, 12:29:49 PM
Isn't this (almost) last year the hardest?
As a continuation of the other thread I saw us both post in regarding this topic, yes, many times yes. Some days at work I think, man I really love who I work with, what a great family of coworkers, I am really going to miss them. Other days I'm over here Googling #vanlife and thinking, I mean really I could walk out of here right now if I just lived in a van... ha.
I do think there is some comraderie between me and a number of my co-workers. I do appreciate a good number of them. At times I feel I do something useful too. For a job, it is not a bad place to work, overall. Every time I walk home from my work, I am very happy that I am in a situation that I can actually do that, even though it takes time.
Post by: Linea_Norway on March 27, 2019, 12:40:38 PM
Isn't this (almost) last year the hardest?
Last year, I hoped to FIRE in October 2019. Then, after we went in detail through my spreadsheet, DH and I decided to postpone FIRE to somewhere in 2020. So this extra year to me feels extra heavy.
On the one side, it is easier to deal with the BS part of my job, as I know I don't have to do it for another 20 years like most my colleagues. But is still about a whole year from now, give or take some months longer of shorter (we don't have an exact end date).
But as we have financially optimised our life already, and decided to work 80%, which is not financially optimal, there isn't much we can do to improve our finances, other than start working 100% again. And that last thing is not attractive, as we have started to appreciate the longer weekends. We just need to sit it out.
As we plan to relocate during FIRE I still want to visit some more places in my region that I haven't visited before. So far I have seen two, although they weren't in the best time of the year. I have more plans for when the snow is gone. That will probably be in another couple of weeks.
I think this "year before final year" can be hard, particularly if there is a gap between expectations and reality. I also think some people make it harder on themselves by focusing more on the negatives (reasons I 'must' FIRE) vs. the positives that are often still a real part of everyday working life. Not saying we should ignore the reality of things that are causing harm, but to be careful and not make more of them than we should be.
Your situation sounds tricky, given you made decisions to change work schedules before knowing the details of what your FIRE spreadsheet needs were. I think it's a good reminder for all of us to do our best to double-check / triple-check before taking significant actions. I'm glad for you guys that you seem to really enjoy the shorter work week and that it is an acceptable trade-off along your journey. That's really what we're all doing here anyway ... taking time to assess what trade-offs make the most sense for each of our situations. It's helpful to hear how others go about it as well!
You are right. One way to avoid (mild) depression is to count your blessings. I often have a tendency to focus on negatives, but should focus more on the positive things in my life.
Working parttime was necessary for us also from a medical point of view. We were both very stressed out from work. As we weren't going to FIRE any time soon, this was the solution we could live with to improve life a bit. We have saved up our FIRE stash and what we save this year is just a safety bonus. But it was the extra year not taking out that will make us confident to FIRE next year. But with the uncertainty about the price of our home. We do now have a good plan of when we will put it out for sale, either November or January.
Post by: exit2019 on March 30, 2019, 08:52:34 PM
Post by: EscapeVelocity2020 on March 30, 2019, 09:15:04 PM
Post by: Freedomin5 on March 31, 2019, 02:32:25 AM
Dipping my toe in the 2020 cohort, despite the moniker that seemed deterministic. I had intended to ER earlier, when I hit FI or maybe OMY or two after, but I'm enjoying FI-but-working life way too much thus far. I like being busy and having a full time job (with international travel and learning French) seems to help. Structure, intellectual challenge, and freedom to do some pretty silly things with money like give deserving people outrageous tips and (hopefully) good advice. Life is so much more interesting the more 'free' you are (without drugs, that's a sad shortcut people seem to frequently get sucked in to). I guess giving large tips/charity and chatting with people about their dream is my drug.
It’s okay to be a SWAMI (Satisfied Working Advanced Mustachian Individual). I’m also OMY-ing...well actually, I’m three-more-year-ing because that’s the length of the contract. I still consider myself in the 2020 cohort because that’s the year we should be FI.
Post by: ysette9 on March 31, 2019, 05:14:39 AM
Quote
On the good news front, all of this uninterrupted time has allowed me to delve into our financial spreadsheet in a lot more detail. I re-did our "magical number" calculation from a simplistic 25x expected spending in two different ways.
- I separated out our core spending and 25x'd that, then added a side pot of money equal to our mortgage balance
- I ran cFIREsim scenarios modeling mortgage as a finite additional expense and our core spending as everything else
In addition I played around with variables to understand how things like being a little flexible with our spending, the reverse equity glide path asset allocation versus static, pension-or-not, social-security-or not all played into the success ratios. I learned that modeling a mortgage payoff and a little spending flexibility (-10% spending reduction in bad stock market years) together have a BIG impact on our overall success rate. As in, it took our "magical number" from $2.6M to $2.3M. Given that we JUST crossed the $2M invested mark, this seems huge to me.
Provided there is some solid reasoning to move to a lower magical FI number and I'm not just massaging the math to give me the answer I want, that would mean we are currently at 87% of FI, versus 77%. How does the expression go? "Bringing success through lowered expectations!" :)
For anyone going into FIRE with a mortgage, I'm curious how you choose to treat that in your calculations. I'm of two minds about it. On one hand, all of the cFIREsim simulations I have ever run show better success rates and more wealth carrying the mortgage to term. On the other hand it does increase the required spend, decreasing our ACA subsidies. There is also the more complex considerations of this post that I haven't fully digested. https://earlyretirementnow.com/2017/10/11/the-ultimate-guide-to-safe-withdrawal-rates-part-21-mortgage-in-retirement/ How do you smart people think about this?
Post by: CoffeeR on March 31, 2019, 07:30:06 AM
For anyone going into FIRE with a mortgage, I'm curious how you choose to treat that in your calculations. I'm of two minds about it. On one hand, all of the cFIREsim simulations I have ever run show better success rates and more wealth carrying the mortgage to term. On the other hand it does increase the required spend, decreasing our ACA subsidies. There is also the more complex considerations of this post that I haven't fully digested. https://earlyretirementnow.com/2017/10/11/the-ultimate-guide-to-safe-withdrawal-rates-part-21-mortgage-in-retirement/ How do you smart people think about this?I like to decrease the number of variables. I like to KISS. To me, a mortgage is a variable I like to remove from the equation(s) as I plan for the future. I also agree that a mortgage increases tail risk, but smart people will disagree on this (e.g. perhaps identifying other tail risks by not carrying a mortgage). To each his own, but for me I do not want a mortgage. I also, do not consider my home part of my NW for FIRE calculations. If I were planning on selling and netting $, then it would be different, but I already live in a relatively LCOL area. I also do not overthink portfolio allocation and slicing-and-dicing by trying to find an optimal allocation with the "perfect" asset allocation. I think the inherent variability of the unknown future trumps Monte Carlo simulations based on the past. Yes, I do use the past to inform the future and it helps design my strategy, but flexibility is more important than trying to find the optimal strategy.
Post by: Rubyvroom on March 31, 2019, 07:35:09 AM
For anyone going into FIRE with a mortgage, I'm curious how you choose to treat that in your calculations.
We have decided not to pay our mortgage off for one reason only - we asked ourselves if this home in this location was an asset we'd want in our portfolio, and the answer was no. We took that approach because if and when the housing market declines again, we don't want to feel stuck with a substantial amount of equity wrapped up in an asset we didn't really want to own in the first place.
Now, we do want to build our own home on land we purchased last year, and I run two scenarios when I look at our modeling: one scenario with increased spending required to pay a mortgage on the newly built home, and one scenario where we self-fund the build and require a smaller stash to live there due to no mortgage. We have yet to decide which path to take, but I highly favor the no debt scenario (if we can make it work), even though the new debt may have a lower rate of interest than we'd earn in the market. The problem with the self-funded scenario is it would take a chunk out of the investments meant to keep us afloat while we build up the 5-year Roth pipeline, making some part time work inevitable.
ACA subsidies are definitely another consideration, though the ACA always feels under threat and I try not to base my decisions on what may or may not happen with the ACA. I do however view having no mortgage payment as an optimal situation, only because it allows more flexibility with income and tax management. However, after watching my dad struggle with heart problems in his late 50s, I would not be willing to trade in a few more years of conventional (ie, stressful) work to make a no-mortgage FIRE possible, though I would certainly be open to part time or consulting work on a temporary basis to make it happen.
So to sum it up, I agree that having no mortgage in FIRE would be optimal, but I've accepted that I'm not going to be FIREing at an optimal level. We don't have children so I believe that allows us quite a bit of flexibility to FIRE at "enough" and tweak our spending or income as necessary, being mindful of the "broke vs. dead" probability chart.
Post by: Linea_Norway on March 31, 2019, 08:56:36 AM
Post by: Linea_Norway on March 31, 2019, 09:09:58 AM
Dipping my toe in the 2020 cohort, despite the moniker that seemed deterministic. I had intended to ER earlier, when I hit FI or maybe OMY or two after, but I'm enjoying FI-but-working life way too much thus far. I like being busy and having a full time job (with international travel and learning French) seems to help. Structure, intellectual challenge, and freedom to do some pretty silly things with money like give deserving people outrageous tips and (hopefully) good advice. Life is so much more interesting the more 'free' you are (without drugs, that's a sad shortcut people seem to frequently get sucked in to). I guess giving large tips/charity and chatting with people about their dream is my drug.
Welcome. Good for you that you like your job. You are perhaps one of the lucky few.
Post by: Linea_Norway on March 31, 2019, 09:12:11 AM
Hello Class of 2020, it is I, an obvious refugee from the class of 2019. I will be joining you guys for the 2020 exit on April 10th, 2020.
Welcome. I will update the list later when I'm not in a driving car on a bumpy road like now.
Post by: FIREby2021 on March 31, 2019, 12:44:51 PM
For anyone going into FIRE with a mortgage, I'm curious how you choose to treat that in your calculations. I'm of two minds about it. On one hand, all of the cFIREsim simulations I have ever run show better success rates and more wealth carrying the mortgage to term. On the other hand it does increase the required spend, decreasing our ACA subsidies. There is also the more complex considerations of this post that I haven't fully digested. https://earlyretirementnow.com/2017/10/11/the-ultimate-guide-to-safe-withdrawal-rates-part-21-mortgage-in-retirement/ How do you smart people think about this?I like to decrease the number of variables. I like to KISS. To me, a mortgage is a variable I like to remove from the equation(s) as I plan for the future. I also agree that a mortgage increases tail risk, but smart people will disagree on this (e.g. perhaps identifying other tail risks by not carrying a mortgage). To each his own, but for me I do not want a mortgage. I also, do not consider my home part of my NW for FIRE calculations. If I were planning on selling and netting $, then it would be different, but I already live in a relatively LCOL area. I also do not overthink portfolio allocation and slicing-and-dicing by trying to find an optimal allocation with the "perfect" asset allocation. I think the inherent variability of the unknown future trumps Monte Carlo stimulations based on the past. Yes, I do use the past to inform the future and it helps design by strategy, but flexibility is more important than trying to find the optimal strategy.
We killed our mortgage through the downsizing process; sold our (too large) HCOL home and used the proceeds to aggressively pay off our FIRE location home. We wouldn't have purchased the downsized home unless we knew it was for the long haul, and definitely ascribe to the KISS principle mentioned above. Pros and cons abound for keeping a mortgage, but heading into FIRE we don't want the annual mortgage payment expense. Expenses require Income, which has domino effects on healthcare subsidies and Roth Pipeline / Conversion tax brackets.
Tradeoffs come with each decision, and ultimately each of our personal scenarios will affect the importance we place on the likelihood of either positive or negative tail events.
Post by: Linea_Norway on March 31, 2019, 01:00:40 PM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
??/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date to decided)
Post by: FIREby2021 on March 31, 2019, 01:07:10 PM
One quarter down for 2019 ... we've had a lot of fun so far this year, and Mr. Market continues behaving after the Q4-2018 drawdown. I do expect sentiment to swing back down & back up for some time before ultimately grinding higher ... in the meantime, we take each month as it comes and stick to the process while enjoying the ride.
March Highlights:
- As discussed over the last few monthly entries, I've been positioning myself to be able to work remotely for 2-week chunks of time this year in order to be able to support my aging parents with health appointments and work around their property. This month was my first such trip (to the NE US), and I have to say it was really successful! I was able to conduct my business, help out on the property and balance some time for myself ... very thankful to have been helpful, and very thankful for the chance to show MegaCorp that productivity can exist away from the boundaries of an office. I will be doing this again in April and July ... TBD beyond that.
- Work-wise, this last couple of weeks has been my least favorite time of year - annual performance reviews! I'm nearly worn out from all of the reviews, but after next week I should be done with 95% of everything. Looking forward to that ending and some cool projects coming our team's way this summer.
- Health-wise this has been an up & down month. DW and I both finished March dealing with some crud but are back to good health now. Ready to resume my weight training and yoga ... again, this year has been so nice finding full relief from rehabbing that old back injury from a few years back. It's so nice to not have those worries about re-tweaking something again! Had to reschedule my annual physical for May, but I do look forward to those results.
- Financially we met all of our savings goals and the market continues moving in our favor. Q1-2019 was some of the best progress we've seen in quite a while. While I can't imagine this pace will continue, we are just going to keep on track. April savings will not be as green, as we got quite the surprise on our Fed taxes this year and will owe quite a bit. Ugh. Anyway, it's a huge blessing to have cash flow to handle those sorts of surprises (FIRE behaviors pay dividends via flexibility even pre-FIRE!) ... and wow it has been so nice being mortgage free these last couple of months (re: our future FIRE home)!!!
- Countdown: If you've been following along, our 'original' FIRE target was Q1-2021, but we've been pursuing a path toward Q2-2020. Current math tells us we could reach FI by Q3-2020. If so, we'd have lots of incentive to work two extra quarters into the original target date. Decisions around doing a new lease on our FIRE home and other pros / cons will definitely be part of our Summer 2019 conversation. Onward through the fog!
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
Have a great weekend, happy Spring!
FIREby2021
[/quote]
Post by: ysette9 on March 31, 2019, 04:01:33 PM
Post by: FireLane on March 31, 2019, 06:46:30 PM
I'm not planning to OLY, even if I hit my number in 2019. But I'd be happy to go into 2020 with some extra padding. It'd make me more confident about pulling the plug.
Post by: aspiringnomad on March 31, 2019, 06:54:33 PM
Right now we're so busy getting the place ready to put on the market while preparing for the move that I haven't had much time to process how big a change this will be. If I do step back and think about it, the hardest thing will be saying goodbye to friends. We have two separate groups of 6-8 friends here who are all pretty much family. Second hardest will be getting used to the spigot being turned off on the firehose of cash. But modern technology makes the social connections easier to maintain. With the cash, unless I work indefinitely, I'll have to deal with that someday anyway. Just a matter of when.
Still targeting an earlyish 2020 departure, but lots of living and preparing to do between now and then.
Post by: TheContinentalOp on April 01, 2019, 06:01:48 AM
Post by: AO1FireTo on April 01, 2019, 06:25:24 AM
Post by: TheContinentalOp on April 01, 2019, 07:42:30 AM
So question to this group. How are you calculating your taxes when you hit fire? I assume you are doing 4% of your gross then deducting expected taxes etc. to achieve your FIRE number. Just curious as I haven't got that detailed yet.
My plan:
1. Move to a state with no state income tax
2. Configure my investments to take advantage of the extended 0% brackets for dividends and LT capital gains
3. Withdraw $12,000 (inflation adjusted) from tax advantaged accounts each year once I hit 59.5
That should results in zero income tax paid.
If I am forced to make larger withdrawals from the 401-k/IRA and have to pay the tax, I will still be okay. my FIRE number is pretty conservative. (close to a 3%)
Any tax I have to pay on additional income from writing, doesn't affect the FIRE number.
Post by: rab-bit on April 01, 2019, 10:11:49 AM
So question to this group. How are you calculating your taxes when you hit fire? I assume you are doing 4% of your gross then deducting expected taxes etc. to achieve your FIRE number. Just curious as I haven't got that detailed yet.
My plan:
1. Move to a state with no state income tax
2. Configure my investments to take advantage of the extended 0% brackets for dividends and LT capital gains
3. Withdraw $12,000 (inflation adjusted) from tax advantaged accounts each year once I hit 59.5
That should results in zero income tax paid.
If I am forced to make larger withdrawals from the 401-k/IRA and have to pay the tax, I will still be okay. my FIRE number is pretty conservative. (close to a 3%)
Any tax I have to pay on additional income from writing, doesn't affect the FIRE number.
@TheContinentalOp, I see that you are located near Philly. I assume that you know that PA does not tax 401k distributions? Does this still make it necessary for you to move to another state?
Post by: TheContinentalOp on April 01, 2019, 10:18:08 AM
So question to this group. How are you calculating your taxes when you hit fire? I assume you are doing 4% of your gross then deducting expected taxes etc. to achieve your FIRE number. Just curious as I haven't got that detailed yet.
My plan:
1. Move to a state with no state income tax
2. Configure my investments to take advantage of the extended 0% brackets for dividends and LT capital gains
3. Withdraw $12,000 (inflation adjusted) from tax advantaged accounts each year once I hit 59.5
That should results in zero income tax paid.
If I am forced to make larger withdrawals from the 401-k/IRA and have to pay the tax, I will still be okay. my FIRE number is pretty conservative. (close to a 3%)
Any tax I have to pay on additional income from writing, doesn't affect the FIRE number.
@TheContinentalOp, I see that you are located near Philly. I assume that you know that PA does not tax 401k distributions? Does this still make it necessary for you to move to another state?
Correct. I believe that PA and MS are the only states with an income tax that don't tax distributions.
I am still going to leave PA, because:
1. I am in the HCOL suburbs.
2. I am sick of the cold.
3. The state will still tax my dividends and capital gains.
Post by: ysette9 on April 01, 2019, 07:33:09 PM
We will have state taxes but I am anticipating our federal taxes to be pretty much zero. We’ll be living off of our taxable accounts initially and since almost all of that money has been put in in the last several years, our tax basis should be high. I will need to revisit that over time as we have more and more gains in that account. Once we finally do get to real retirement age and start tapping the tax-advantaged accounts we will tailor our income to minimize taxes through the use of both traditional and Roth.
Post by: Bateaux on April 01, 2019, 11:46:54 PM
Post by: Linea_Norway on April 02, 2019, 12:39:27 AM
We bought a house in Florida. LCOL and a similar climate to our home state of Louisiana, without all the taxes.
Are you renting it out until you move in?
Post by: Bateaux on April 02, 2019, 06:05:59 AM
We bought a house in Florida. LCOL and a similar climate to our home state of Louisiana, without all the taxes.
We're just using it as a vacation home for now. Not likely we'll rent it. We're headed down next week with some of our friends. It will be the third week we've used it this year. Not very Mustacian but we're in a position to afford it now. We've slowly been furnishing it with good used stuff and putting in fresh paint. Can't wait till it's home for good.
Are you renting it out until you move in?
Post by: Unique User on April 02, 2019, 06:25:36 AM
Post by: itchyfeet on April 05, 2019, 12:47:48 AM
In Australia our retirement accounts (accessible after 60) are taxed at a max of 15% until retire,met then at zero post retirement. About half my savings are in retirement accounts (Superannuation).
On other savings we are exposed to progressive income tax with a tax free threshold of $18K, so $36K for a couple. The next $19K ($38K for a couple) is taxed at 19%.
Timing of income can be managed somewhat by taking capital gains instead of dividends/ rent.
If company’s have paid tax before distributing dividends then you get a tax credit called a franking credit which reduces or even eliminates taxes on dividends.
In the end, with al, the tax concessions, I have just decided to make a provision of 10% of my spending to be on income tax.
Post by: Linea_Norway on April 05, 2019, 06:35:18 AM
I am Australian so our taxes are quite different to the US but I thought I’d share anyways...
In Australia our retirement accounts (accessible after 60) are taxed at a max of 15% until retire,met then at zero post retirement. About half my savings are in retirement accounts (Superannuation).
On other savings we are exposed to progressive income tax with a tax free threshold of $18K, so $36K for a couple. The next $19K ($38K for a couple) is taxed at 19%.
Timing of income can be managed somewhat by taking capital gains instead of dividends/ rent.
If company’s have paid tax before distributing dividends then you get a tax credit called a franking credit which reduces or even eliminates taxes on dividends.
In the end, with al, the tax concessions, I have just decided to make a provision of 10% of my spending to be on income tax.
Sounds like a complicated system for an outsider. But you should try the best you can to pay as little taxes as you legally can.
Post by: MoneyTree on April 13, 2019, 01:10:09 PM
I told myself that this point would be a soft starting point for making some pre-FIRE moves. I'm reviewing the pre-FIRE checklist and thinking through ways to mitigate sequence of returns risks. Some have mentioned using a CD Ladder, others seem to be going with a rising equity glide path.
Leaning towards the glide path right now but I know very little about bond funds. Is there a difference in the tax treatment between VBTLX (fund) and BND (ETF)? For those of you doing a glide path, do you keep your bond funds in a taxable account or a tax advantaged account?
Post by: ysette9 on April 13, 2019, 08:49:03 PM
Post by: friedmmj on April 14, 2019, 03:49:31 AM
Post by: Freedomin5 on April 14, 2019, 03:58:34 AM
Did I get it mixed up?
The terms are confusing because some sites call it a rising equity glide path or inverse glide path. My understanding is that they all mean the same thing?
Post by: friedmmj on April 14, 2019, 06:11:08 AM
Wait...I thought reverse equity glide path meant that equities INCREASE as the years pass? So equity allocation should not be dropping. The % in equity should be going up the longer you are retired.Correct. However, in order to implement this strategy you need to first reduce your equity exposure to a relatively low level heading into retirement if you are starting from a high level of equity allocation.
Did I get it mixed up?
The terms are confusing because some sites call it a rising equity glide path or inverse glide path. My understanding is that they all mean the same thing?
Post by: Linea_Norway on April 14, 2019, 08:47:12 AM
Post by: MoneyTree on April 14, 2019, 09:46:54 AM
100% equities has served me well so far, but I have read that you want to drop down to a lower allocation before FIRE to mitigate retirement date risk.
Post by: ysette9 on April 14, 2019, 12:42:48 PM
https://earlyretirementnow.com/2017/09/13/the-ultimate-guide-to-safe-withdrawal-rates-part-19-equity-glidepaths/
So we are increasing our bonds now as we approach FI. Our goal is to req h 40% bonds and then slowly ramp back down to finally attain 95-100% equities ten years into retirement. From what I have read if you can make it through the first ten years then you are overwhelmingly likely to be fine as your portfolio should have reached a “too big to fail” status.
Post by: 2Birds1Stone on April 14, 2019, 12:44:35 PM
https://www.goodreads.com/book/show/30269060-living-off-your-money
Post by: Freedomin5 on April 14, 2019, 04:46:07 PM
Wait...I thought reverse equity glide path meant that equities INCREASE as the years pass? So equity allocation should not be dropping. The % in equity should be going up the longer you are retired.Correct. However, in order to implement this strategy you need to first reduce your equity exposure to a relatively low level heading into retirement if you are starting from a high level of equity allocation.
Did I get it mixed up?
The terms are confusing because some sites call it a rising equity glide path or inverse glide path. My understanding is that they all mean the same thing?
Ah, got it. Thanks!
Post by: meatgrinder on April 23, 2019, 10:36:15 AM
Post by: Linea_Norway on April 23, 2019, 11:30:24 AM
My official date is now Nov 21st, 2020. Just got rated a bottom performer at work so that means no more RSUs after 2020. That's ok and even better since I was planning on leaving anyway! I've read where a lot of people have improved job performance once they hit FI. I hit FI last year and it has had the opposite effect...I just don't care and I'm no in it for the extra cash cushion.
Congrats on no longer giving a shit.
The two years that I performed at my best at my current job have not paid off financially at all. Therefore I don't care anymore either. I have already started to work 80% and think it is still feels like too much. Working is bad for my health, mentally and physically. I do what is minimally required to deliver to the customers (who are important) and that is about it.
Post by: rab-bit on April 23, 2019, 11:30:41 AM
My official date is now Nov 21st, 2020. Just got rated a bottom performer at work so that means no more RSUs after 2020. That's ok and even better since I was planning on leaving anyway! I've read where a lot of people have improved job performance once they hit FI. I hit FI last year and it has had the opposite effect...I just don't care and I'm no in it for the extra cash cushion.
I am having a similar experience. I also thought that as I got near the end my job would be less stressful but I'm finding the opposite to be true, probably because I have even less patience for the daily BS.
Post by: nwa-non on April 23, 2019, 11:44:12 AM
Absolute drop dead date is 1/17/2020. Could be anytime between Sep '19 and Jan '20 :D
Feels good saying it out here/somewhere!
I anticipate my FIRE will have some PT jobs rather than full fledged RE.
Post by: nwa-non on April 23, 2019, 11:45:22 AM
My official date is now Nov 21st, 2020. Just got rated a bottom performer at work so that means no more RSUs after 2020. That's ok and even better since I was planning on leaving anyway! I've read where a lot of people have improved job performance once they hit FI. I hit FI last year and it has had the opposite effect...I just don't care and I'm no in it for the extra cash cushion.
I am having a similar experience. I also thought that as I got near the end my job would be less stressful but I'm finding the opposite to be true, probably because I have even less patience for the daily BS.
True that.
Post by: rab-bit on April 23, 2019, 12:08:11 PM
New to this forum. Here goes ...
Absolute drop dead date is 1/17/2020. Could be anytime between Sep '19 and Jan '20 :D
Feels good saying it out here/somewhere!
I anticipate my FIRE will have some PT jobs rather than full fledged RE.
I also planned on trying to go part-time at this job but I am now seriously re-thinking that. It would be nice to have the health insurance and the income. I will probably ask for PT but I won't be at all disappointed if the answer is 'no'.
Post by: nwa-non on April 23, 2019, 12:28:48 PM
I also planned on trying to go part-time at this job but I am now seriously re-thinking that. It would be nice to have the health insurance and the income. I will probably ask for PT but I won't be at all disappointed if the answer is 'no'.
I'll be looking for PT jobs with NO benefits or health insurance. Seriously, cash would be just fine! Want to try interesting and different jobs that I've never had in my life before, that pays "well". Well defined by ~$20/hour.
Post by: meatgrinder on April 23, 2019, 12:37:24 PM
My official date is now Nov 21st, 2020. Just got rated a bottom performer at work so that means no more RSUs after 2020. That's ok and even better since I was planning on leaving anyway! I've read where a lot of people have improved job performance once they hit FI. I hit FI last year and it has had the opposite effect...I just don't care and I'm no in it for the extra cash cushion.
I am having a similar experience. I also thought that as I got near the end my job would be less stressful but I'm finding the opposite to be true, probably because I have even less patience for the daily BS.
Why do you think you have less patience? To clarify I think I have more patience and less stress because I don't care since I know the rat race filled with cubicles, florescent lights, endless meetings and constant drive and competition for a promotion to prove yourself and self worth is coming to an end. The twenties version of me would have been a panic stricken corporate drone if I was ever ranked as a bottom performer....now with this being my first time my thought is I don't give a shit and they can all go fuck themselves - work doesn't define who I am.
Its interesting because my entire life (and most lives) there has always been some carrot or next level to reach. In school, get to the next grade/college/grad school. In work, get to the next level/position/promotion. I've realized I've made it. There is nothing else that's worth pursing other than the freedom to do what I want with the time I have left and that constant chasing leads to unhappiness and stress. /rant
Post by: rab-bit on April 23, 2019, 04:53:57 PM
My official date is now Nov 21st, 2020. Just got rated a bottom performer at work so that means no more RSUs after 2020. That's ok and even better since I was planning on leaving anyway! I've read where a lot of people have improved job performance once they hit FI. I hit FI last year and it has had the opposite effect...I just don't care and I'm no in it for the extra cash cushion.
I am having a similar experience. I also thought that as I got near the end my job would be less stressful but I'm finding the opposite to be true, probably because I have even less patience for the daily BS.
Why do you think you have less patience? To clarify I think I have more patience and less stress because I don't care since I know the rat race filled with cubicles, florescent lights, endless meetings and constant drive and competition for a promotion to prove yourself and self worth is coming to an end. The twenties version of me would have been a panic stricken corporate drone if I was ever ranked as a bottom performer....now with this being my first time my thought is I don't give a shit and they can all go fuck themselves - work doesn't define who I am.
Its interesting because my entire life (and most lives) there has always been some carrot or next level to reach. In school, get to the next grade/college/grad school. In work, get to the next level/position/promotion. I've realized I've made it. There is nothing else that's worth pursing other than the freedom to do what I want with the time I have left and that constant chasing leads to unhappiness and stress. /rant
I suppose it's because I was part of the team and I needed the job, so I was more willing to tolerate and work through the bs. Now that I'm close to the end, I find I'm just disgusted by it and have no patience for it. It all feels like just a waste of my precious time.
Post by: ysette9 on April 23, 2019, 09:25:34 PM
I “worked from home” yesterday because our nanny was out and then I took my oldest work work this morning for being your kid to work day. All that extra time with my littles was so lovely, and really in contrast with updating slides on the current status of issues.
My first performance review with my boss is later this week so I need to summon up some good act of caring in a jiffy.
Post by: ixtap on April 23, 2019, 09:57:51 PM
As it stands, we have a two week vacation coming up next month. That should help.
Post by: Linea_Norway on April 24, 2019, 01:12:54 AM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
??/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date to decided)
Post by: Linea_Norway on April 27, 2019, 11:37:56 AM
DH hopes to win an interesting project at his work. If he gets it, he will consider to start working 50%, only the time it takes to work on that project. And then cut out all else. Sounds like a good plan to me. That project will last longer than out FIRE date, so he thinks about continuing to work 50% on it after FIRE. Therefore we need to keep living somewhere on travelling distance to the capital, either by train or by plane.
Post by: BlueMR2 on April 29, 2019, 03:51:09 PM
While I do enjoy not working, these projects are so very exciting. I wonder if it's worth the health risks for that excitement and fun? Or should I knock it off and fade out from the work scene on plan? I know my wife would like me to retire, but she also still wants to find at least part time work to get out of the house...
Post by: ysette9 on April 29, 2019, 09:40:14 PM
This provides solace when I have dreams at night like I did a couple of days ago that my boss was telling me that I wasn’t measuring up at performance review time.
Post by: Linea_Norway on April 30, 2019, 12:55:20 AM
I'm very deeply torn at this point. Well on track for the original May 2020 plan (despite my wife unexpectedly losing her job last year and not being able to find a replacement job). OTOH, I'm having a lot of fun with some very exciting projects at work that could go on for another 2-3 years. OTOOH, those projects are also extremely stressful and it's starting to affect my health.
While I do enjoy not working, these projects are so very exciting. I wonder if it's worth the health risks for that excitement and fun? Or should I knock it off and fade out from the work scene on plan? I know my wife would like me to retire, but she also still wants to find at least part time work to get out of the house...
If your wife doesn't need the finances, but wants to get out of the house, she can look for some voluntary work.
Extremely stressful projects... Can you have fun in a similar way without the huge amount of stress? Otherwise not do so many of these projects? I think there is a difference about exiting stress and obligating stress. Do you look forward to doing the task required in that project, or does it feel like a drain? If the latter, it is not worth the health risk. For the first, it might not be so damaging.
Post by: Linea_Norway on April 30, 2019, 01:25:46 AM
My company send out an email yesterday about becoming more effective. We need to reduce our costs with 15% in 2021, compared to 2018. We can all guess how that is done, less people need to work harder. They mentioned that they might downsize the number of employees. I hope that they will announce an option for leaving on a voluntary basis, with a good compensation. Then I will ask for that option. I have nothing to loose, asking for it. I am not sure they want to grant it, though.
Post by: ysette9 on April 30, 2019, 10:02:41 AM
I hope your company doesn’t go down that route.
Post by: JTColton on April 30, 2019, 10:28:01 AM
Post by: meatgrinder on April 30, 2019, 11:50:21 AM
I'm very deeply torn at this point. Well on track for the original May 2020 plan (despite my wife unexpectedly losing her job last year and not being able to find a replacement job). OTOH, I'm having a lot of fun with some very exciting projects at work that could go on for another 2-3 years. OTOOH, those projects are also extremely stressful and it's starting to affect my health.
While I do enjoy not working, these projects are so very exciting. I wonder if it's worth the health risks for that excitement and fun? Or should I knock it off and fade out from the work scene on plan? I know my wife would like me to retire, but she also still wants to find at least part time work to get out of the house...
Health >>> Wealth
Post by: Linea_Norway on May 01, 2019, 12:44:47 AM
At my old company we had year after year of cost cutting and a focus on “affordability”. It was depressing. First you lose all of the discretionary fun stuff, that hoody’s parties and support for employee groups and perks. Then you start cutting the less important stuff. Then you get to the point of making hard decisions of what important stuff gets cut. Strategic visions end up going down the drain. Employee training. Anything that would be good for the long term and increase efficiency or otherwise set the company up for success were not even considered unless it could magically be done at no present cost to the company. I got frustrated at the short-term thinking and the impact it had on morale. In situations like that your best employees just ship first because they see their writing on the wall and have options. I stuck around a good while (not the best employee?!) and got out when it became too depressing.
I hope your company doesn’t go down that route.
I will quite my job with the foreseeable future, probably Jan 2020 or earlier. But I feel sorry for my colleagues.
An older colleague thinks that they will start by letting retirees and quitters go without replacing them. So fewer people will need to do the work of more. In my department half of the people have said that they feel that their job impacts their health in a negative way. Quite many, including myself, have high blood pressure. Everyone has a lot to do. We really can't do more without extra resources.
And yes, I think they will cut out the fun parts, like visiting a conference for a few days.
Post by: Unique User on May 01, 2019, 06:12:31 AM
I had a meeting with my boss to talk about the last huge project I'll run for the company, it's over the end of May of next year. We also discussed succession planning and I mentioned having them lay me off July 1, 2020 so that I can collect unemployment for the first time in my life. She asked if I would come back on an hourly basis if they had projects and I agreed, but neither of us see more than a couple small projects a year. Company does not pay severance, but I'll take all my vacation in June and wrap things up. July 1st means I get health insurance for the month so I can navigate the ACA if it still exists.
I plan to tell DH that he can leave anytime he wants this year tonight. He found out a couple weeks ago that half his job is going to outside brokers, so he expects layoffs and has been stressed about it. And his biggest client (300 units, should really be with a corp account manager, not him but he landed it) are complete and total psychos.
So July 1, 2020 is my date, feels great to be so close!
Post by: TheContinentalOp on May 01, 2019, 07:06:35 AM
At a 4.0% WR, I'm at 151% of my expenses.
At a 3.5% WR, I'm at 132% of my expenses.
Post by: Farmgirl on May 01, 2019, 07:35:55 AM
So close.
Post by: Lews Therin on May 01, 2019, 08:11:49 AM
Post by: Farmgirl on May 01, 2019, 08:18:50 AM
Post by: FIREby2021 on May 01, 2019, 11:56:01 AM
April Highlights:
- Well, YTD I have now accumulated 4 weeks of working remotely. Very glad to report I was able to conduct my work business, help out my aging parents and still balance some time for myself. I won't go back until July, but glad to begin building a track record to show MegaCorp that productivity can exist away from the boundaries of an office. Hard to say whether A) I'll want to, or B) it will be an option, but at the very least C) I'm being helpful and reducing my # of office commute days NOW.
- Financially, this month was pretty dicey. Multiple HUGE expenses showed up at once, and the result is our extra after-tax savings contributions were $0 for April, and will be $0 for May! As mentioned last month, our Federal Tax bill was INSANE (mo money mo problems?), but then we had to 1) replace the 22-year old HVAC system in our FIRE location home (had planned to defer this until the 2021 remodel), 2) we bought international plane tickets for a 2020 trip (great fare sale, but sooner than planned), and 3) had a significant car repair to top it all off! Ugh, but it's a huge blessing to have cash flow to handle these sorts of surprises (FIRE behaviors pay dividends via flexibility even pre-FIRE!). Despite these big-ticket items, we maxed our pre-tax contributions and the market continues to cooperate.
- Countdown: Our 'original' FIRE target was Q1-2021, but we've been pursuing a path toward Q2-2020. Current math tells us we should reach FI by Q3-2020. If so, we'd have lots of incentive to work 2 extra quarters into our original target date. Decisions around doing a new lease on our FIRE home and other pros / cons will definitely be part of our Summer 2019 conversation. At the most we are looking at 22 months left, wow!
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
Later!
FIREby2021
Post by: ysette9 on May 01, 2019, 01:27:44 PM
I like seeing your percentages because of how closely they align with ours. I got our April figures at 91% of our new FI number.
I was talking briefly with my husband last night and he talked about wanting to figure out how to ask about part-time work. He mentioned a lot of benefits: he isn’t totally on board with The Number, healthcare coverage, some extra padding for unknowns, mortgage, etc. It makes perfect sense and I think it would be a very enjoyable lifestyle provided we can stick to firm part-time limits. I need to draw up my proposal for part-time work after my maternity leave in the next few weeks. I can’t even be sure if I’d rather be totally done or try part-time. But the plan is to ask and be prepared to cut the cord entirely if they say no. Not a bad bargaining position to be in. :)
Post by: FIREby2021 on May 01, 2019, 07:27:09 PM
Nicely done, FIREby2021!
I like seeing your percentages because of how closely they align with ours. I got our April figures at 91% of our new FI number.
I was talking briefly with my husband last night and he talked about wanting to figure out how to ask about part-time work. He mentioned a lot of benefits: he isn’t totally on board with The Number, healthcare coverage, some extra padding for unknowns, mortgage, etc. It makes perfect sense and I think it would be a very enjoyable lifestyle provided we can stick to firm part-time limits. I need to draw up my proposal for part-time work after my maternity leave in the next few weeks. I can’t even be sure if I’d rather be totally done or try part-time. But the plan is to ask and be prepared to cut the cord entirely if they say no. Not a bad bargaining position to be in. :)
Thanks ysette9! I also like seeing how other folks with similar timeframes and progress trends are doing and what they're thinking about. You're doing great ... I'm sort of starting to think we belong in 2021 (barely), but since I've been here the whole time I'll stick with this cohort. Still expecting FI to occur in 2020.
Your conversations about part-time work is interesting to me as well. If I can demonstrate to my company that remote working "works", I'm not afraid of testing those waters ONLY IF it can be done from our FIRE (dream) location and has some clear boundaries. Like you said, have to be ready to cut the cord entirely if they say no, to which I assign a 90% probability. Would appreciate hearing more about how you guys decide to approach that negotiation if you're willing to share.
Post by: ysette9 on May 01, 2019, 07:58:25 PM
If I forget to follow up on this thread I am sure I will discuss it in my journal, which you are welcome to check out.
Post by: itchyfeet on May 04, 2019, 04:32:06 AM
Post by: FIREstache on May 06, 2019, 04:16:28 PM
I created a case study recently regarding my choice to work OMY and FIRE in 2020 or work 2MY and FIRE in 2021.
https://forum.mrmoneymustache.com/case-studies/case-study-omy-or-2/
Despite some remaining doubts, I'm getting to be pretty sure I'll FIRE in 2020 if there aren't any surprises.
Post by: Lews Therin on May 06, 2019, 04:27:40 PM
You seem crazy rich in that way!
Post by: Linea_Norway on May 07, 2019, 12:35:51 AM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 FIREstash
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
??/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date to decided)
Welcome, @FIREstash
$1.4M sounds like a big stash for a single person. I'm sure you will be fine.
Post by: FIREstache on May 07, 2019, 05:37:45 PM
If it helps, there's atleast two in the 2019 cohort with stashes below 600k.
You seem crazy rich in that way!
Welcome, @FIREstash
$1.4M sounds like a big stash for a single person. I'm sure you will be fine.
Thanks. I thought today's drop in stocks was going to take me just under the $1.4M level in the stash, but it didn't, so I still have a few thousand above it at this point. I'm more conservative with my investing now, having moved from 80% to 60% equities in the summer of 2018, then last Friday moving to 43% equities. My biggest concern about FIRE now is healthcare coverage, even though I'm pretty healthy. Unsubsidised coverage won't be cheap for a 55 to 65 year old prior to Medicare.
Post by: FIREstache on May 13, 2019, 04:35:25 PM
If it helps, there's atleast two in the 2019 cohort with stashes below 600k.
You seem crazy rich in that way!
Welcome, @FIREstash
$1.4M sounds like a big stash for a single person. I'm sure you will be fine.
Thanks. I thought today's drop in stocks was going to take me just under the $1.4M level in the stash, but it didn't, so I still have a few thousand above it at this point. I'm more conservative with my investing now, having moved from 80% to 60% equities in the summer of 2018, then last Friday moving to 43% equities. My biggest concern about FIRE now is healthcare coverage, even though I'm pretty healthy. Unsubsidised coverage won't be cheap for a 55 to 65 year old prior to Medicare.
Well, I picked a very good day to move to a more conservative AA on May 3rd, because stocks have been going down since then, with the S&P 500 being down 4.5%, but I still dropped about $10K under the $1.4M stache figure. I can't say I'm totally surprised.
Post by: Linea_Norway on May 14, 2019, 01:50:52 AM
Post by: meatgrinder on May 14, 2019, 01:23:49 PM
If it helps, there's atleast two in the 2019 cohort with stashes below 600k.
You seem crazy rich in that way!
Welcome, @FIREstash
$1.4M sounds like a big stash for a single person. I'm sure you will be fine.
Thanks. I thought today's drop in stocks was going to take me just under the $1.4M level in the stash, but it didn't, so I still have a few thousand above it at this point. I'm more conservative with my investing now, having moved from 80% to 60% equities in the summer of 2018, then last Friday moving to 43% equities. My biggest concern about FIRE now is healthcare coverage, even though I'm pretty healthy. Unsubsidised coverage won't be cheap for a 55 to 65 year old prior to Medicare.
Well, I picked a very good day to move to a more conservative AA on May 3rd, because stocks have been going down since then, with the S&P 500 being down 4.5%, but I still dropped about $10K under the $1.4M stache figure. I can't say I'm totally surprised.
You've picked a very good day when looking at the next 11 days but will it be a good day over the next 1, 5, 10 years? Historically the answer is no, but this time it could be different?
Post by: FIREstache on May 14, 2019, 05:18:31 PM
If it helps, there's atleast two in the 2019 cohort with stashes below 600k.
You seem crazy rich in that way!
Welcome, @FIREstash
$1.4M sounds like a big stash for a single person. I'm sure you will be fine.
Thanks. I thought today's drop in stocks was going to take me just under the $1.4M level in the stash, but it didn't, so I still have a few thousand above it at this point. I'm more conservative with my investing now, having moved from 80% to 60% equities in the summer of 2018, then last Friday moving to 43% equities. My biggest concern about FIRE now is healthcare coverage, even though I'm pretty healthy. Unsubsidised coverage won't be cheap for a 55 to 65 year old prior to Medicare.
Well, I picked a very good day to move to a more conservative AA on May 3rd, because stocks have been going down since then, with the S&P 500 being down 4.5%, but I still dropped about $10K under the $1.4M stache figure. I can't say I'm totally surprised.
You've picked a very good day when looking at the next 11 days but will it be a good day over the next 1, 5, 10 years? Historically the answer is no, but this time it could be different?
According to FireCalc, it WAS a good day for the next 10+ years because my SWR% has the best chance of success with the new AA that I moved to, which is more important to me than a potentially higher stash. So, historically, the answer is "yes" in my case. Since I wanted to move to a more conservative AA with my very short time horizon to FIRE, and only 10 years to SS, for the best success rate, any day should have been good, but it just turns out that it was even better that I made the move prior to the drop that immediately followed, not that I was was predicting it. It just turned out that way. It may go to new highs again, but that doesn't matter. This is also to deal with sequence of returns risk in early retirement, and I'll ramp my equity back up in FIRE using the rising equity glide path.
Post by: meatgrinder on May 14, 2019, 05:26:17 PM
If it helps, there's atleast two in the 2019 cohort with stashes below 600k.
You seem crazy rich in that way!
Welcome, @FIREstash
$1.4M sounds like a big stash for a single person. I'm sure you will be fine.
Thanks. I thought today's drop in stocks was going to take me just under the $1.4M level in the stash, but it didn't, so I still have a few thousand above it at this point. I'm more conservative with my investing now, having moved from 80% to 60% equities in the summer of 2018, then last Friday moving to 43% equities. My biggest concern about FIRE now is healthcare coverage, even though I'm pretty healthy. Unsubsidised coverage won't be cheap for a 55 to 65 year old prior to Medicare.
Well, I picked a very good day to move to a more conservative AA on May 3rd, because stocks have been going down since then, with the S&P 500 being down 4.5%, but I still dropped about $10K under the $1.4M stache figure. I can't say I'm totally surprised.
You've picked a very good day when looking at the next 11 days but will it be a good day over the next 1, 5, 10 years? Historically the answer is no, but this time it could be different?
According to FireCalc, it WAS a good day for the next 10+ years because my SWR% has the best chance of success with the new AA that I moved to, which is more important to me than a potentially higher stash. So, historically, the answer is "yes" in my case. Since I wanted to move to a more conservative AA with my very short time horizon to FIRE, and only 10 years to SS, for the best success rate, any day should have been good, but it just turns out that it was even better that I made the move prior to the drop that immediately followed, not that I was was predicting it. It just turned out that way. It may go to new highs again, but that doesn't matter. This is also to deal with sequence of returns risk in early retirement, and I'll ramp my equity back up in FIRE using the rising equity glide path.
Nice - makes sense from a volatility perspective of success and not total returns. I need to shift my mindset as early retirement approaches!
Post by: 2sk22 on May 16, 2019, 04:55:03 PM
As I mentioned in my self-introduction post, financially, I am ready to quit. Furthermore, my wife expects to keep working as long as possible - we could comfortably live on her salary alone and still money.
I discovered the term "FIRE" only very recently (I must have been under a rock!). It had never occurred to me that didn't have to wait until conventional retirement. The more I talk to my friends who have retired early, the more I want to join them. So its just a matter of mental adjustment - which, knowing myself, I will achieve.
Post by: FIREstache on May 16, 2019, 05:56:14 PM
Oh yeh, I'm back over the 1.4M hurdle again.... for now.
Edit: oh, just realized I'm already on the list as "FIREstash".
Post by: Linea_Norway on May 18, 2019, 12:37:33 AM
??/2020 apurplelife
02/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 FIREstache
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
??/2020 Linea_Norway
10/2020 Maenad
12/202? meatgrinder
12/2020 MoneyTree
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
05/2020 RedefinedHappiness
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
FIREing later:
FIPurpose (date to decided)
Post by: Linea_Norway on May 18, 2019, 12:44:30 AM
Put me down for 2020. I'm hoping to quit by the middle of next year or go part time at the very least.
As I mentioned in my self-introduction post, financially, I am ready to quit. Furthermore, my wife expects to keep working as long as possible - we could comfortably live on her salary alone and still money.
I discovered the term "FIRE" only very recently (I must have been under a rock!). It had never occurred to me that didn't have to wait until conventional retirement. The more I talk to my friends who have retired early, the more I want to join them. So its just a matter of mental adjustment - which, knowing myself, I will achieve.
Welcome.
Nothing better to discover the concept and already be there.
About 15 years ago, We had been loosly talking about retiring at 50, based on how much we had saved through the years. But I had no clue of how much you needed for that, and we didn't adjust our spending. We did save a lot by normal frugallity, but we could have saved a whole lot more and become FI 1 or 2 years earlier if we would have been more aware.
But finally, when I did find this site and learned how to calculte you needed FIRE stash, we were not so many years from being FIREd. I think we are already there financially, but we are waiting for next year for extra cushion and to convince DH. We are currently working 80%, which makes working life a little more baerable.
Post by: 2sk22 on May 18, 2019, 06:43:14 AM
Welcome.
Nothing better to discover the concept and already be there.
About 15 years ago, We had been loosly talking about retiring at 50, based on how much we had saved through the years. But I had no clue of how much you needed for that, and we didn't adjust our spending. We did save a lot by normal frugallity, but we could have saved a whole lot more and become FI 1 or 2 years earlier if we would have been more aware.
But finally, when I did find this site and learned how to calculte you needed FIRE stash, we were not so many years from being FIREd. I think we are already there financially, but we are waiting for next year for extra cushion and to convince DH. We are currently working 80%, which makes working life a little more baerable.
I know this is a small thing but just seeing my userid on the 2020 list feels great :-) As you say, just knowing that end is in sight makes work more bearable.
Post by: FIREstache on May 18, 2019, 07:10:04 AM
??/2020 FireLane
??/2020 FIREstash
??/2020 Freedomin5
List has a FIREstash but no FIREstache. FIREstache can be added. Thanks.
Post by: Linea_Norway on May 18, 2019, 07:27:35 AM
??/2020 FireLane
??/2020 FIREstash
??/2020 Freedomin5
List has a FIREstash but no FIREstache. FIREstache can be added. Thanks.
Fixed. I cannot quote a FIREstash, so that name probably doesn't exist.
You are all free to quote and edit the list yourself as well.
Post by: FIREstache on May 18, 2019, 07:34:00 AM
??/2020 FireLane
??/2020 FIREstash
??/2020 Freedomin5
List has a FIREstash but no FIREstache. FIREstache can be added. Thanks.
Fixed. I cannot quote a FIREstash, so that name probably doesn't exist.
You are all free to quote and edit the list yourself as well.
Thanks. It used to be that half the time I opened the 2019 thread, it was just a new post of the list, so there might be 3 posts of the list on the same page, so I try to avoid that.
Post by: markbike528CBX on May 18, 2019, 10:50:03 AM
Post by: rab-bit on May 19, 2019, 05:42:51 PM
- We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
- Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
- I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
Post by: Freedomin5 on May 19, 2019, 06:03:03 PM
Our retirement plans are really starting to take shape!Exciting times!
- We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
- Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
- I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
That IS exciting! Hope the downshifting opportunities work out for you!
Post by: FIREstache on May 19, 2019, 06:10:38 PM
Trifele on the 2019 list has fixed the excessive reposting by just editing the pre-existing (latest page) list. It helps if the list maintainer is 1 person who is quick about updates. I wasn't, so Trifele picked up the list maintainance.
Ahhh yes, I recall some comments about that some time back. That's a good idea.
Post by: Body Surfer on May 19, 2019, 06:45:08 PM
Post by: FIREstache on May 19, 2019, 08:05:27 PM
Withdrawal rates by age based on current stache (SS kicks in at 65):
55 to 65 3.5% WR - could drop to 2.1% WR and still have $5K of discretionary spending
65 & up 2.2% WR - could drop to 0.8% WR and still have $5K of discretionary spending
The plan is not carved in stone. Due to my short timeline to SS and amount of flexibility built in, I might bump that up to 4% WR from age 55 to 65, but $25K/yr is already many times greater discretionary spending than I've ever done in my life. So, I'll probably stick with the 3.5% WR baseline and give myself flexibility in both directions to cut or increase spending in any particular year depending on what comes up.
My case study:
https://forum.mrmoneymustache.com/case-studies/case-study-omy-or-2/
Post by: SwordGuy on May 19, 2019, 09:39:18 PM
Post by: MoneyTree on May 19, 2019, 10:22:45 PM
Now that its getting more real, I can start to understand what people are talking about when they talk about one more year syndrome, and the difficulty of walking away (for some).
Hope i'm not getting "institutionalized". Definitely feeling it a little bit.
Post by: Linea_Norway on May 19, 2019, 10:56:15 PM
Getting excited and scared at the same time!
Now that its getting more real, I can start to understand what people are talking about when they talk about one more year syndrome, and the difficulty of walking away (for some).
Hope i'm not getting "institutionalized". Definitely feeling it a little bit.
Yes, I have been excited since last year. Ended up with an extra year then. Not because I had anxiety, but because I finally had DH interested in my detailed FIRE excel sheet, that I had reduced to a more simple level. He played with it, checking what would happen with a 0% growth of stock. My original FIRE plan was very lean and not discussed in detail with him. After discussing the details, he did not want to FIRE so lean, so therefore an extra year.
As we are going to move away from our current region, I experience often that I go some place to pick wild herbs or so, and then think: this will the last time I do this here. Our area is quite diverse with climate/biotop, both forest and coast. We also have many options for hiking trips and skiing trips close to home. We just don't have mountains. But it is a bit challenging. Will there be an new place available out there that is just as good, or preferably better?
I have quite a bit anxiety about the moving part. We don't know yet for sure where we are going. I can't get DH to think about it in more detail yet. His plan is to first move into a cheaper rental locally for some months, then sell off all the stuff that needs to be sold, and then move further away when we don't have so much on our minds. I am also a bit worried about selling our house and the process of getting it in pristine condition for sale. That is just a lot of work. But the final price for the house will be half or our FIRE stash, so it must be as high as possible. It also means that if we cannot get that price and we will have quit our jobs, we will need to make a plan B. Maybe wait it out until prices go up again, missing out on a year of stock market growth.
I am also a little worried about the sequence of things. We both have a 3 month! notice period at work (standard in Norway). That means that if I want to quit per January 1rst 2020, I will need to resign at the end of September. Which is before we will put the house out for sale, so we are taking a chance there. We plan to sell the home in the winter, either November or January, because we have seen that prices for villas in our region peak around that time. Also, we don't have the nicest garden and outside area. DH thinks we could come away with that if there is some snow. But we live on a hill with extremely steep roads where you need a 4x4 to come up easily in snowy conditions. So this is taking a chance as well. On the other hands, the buyers could guess that you need a 4x4 to live there. Selling a house without having a job is less stressful than working beside it like we did last time we sold our previous home.
Post by: FIREstache on May 20, 2019, 03:15:55 PM
The only thing I felt a little excited about recently in regard to FIRE was when my stash hit $1.4M.
I'm not FIREing in January, so I'm still about a full year out, if all goes well. It still feels like a long ways off at this point.
I was actually within 6 months of my original FIRE target when I decided to OMY. I was feeling more anxiety than excitement, even back then. Also, stocks were falling, and the ACA was ruled unconstitutional, so decided to OMY it. When I made the choice, I felt relief.
My biggest concern is still the ACA lawsuit, so it's a "wait and see" situation and will continue to temper any potential excitement I might have about FIRE in the months ahead.
Post by: beeboy on May 21, 2019, 02:59:41 PM
Currently at around 1.7 mil in assets (about 2.0 mil NW). I have approx. 850K in a Morgan Stanley brokerage acct., 30K in a Fidelity acct., 535K in my 401k, 200K in CDs, 65K in savings acct. and 20K in checking.
I'm currently 45 and plan on pulling the plug and enjoying life in March/April 2020 (at age 46) with whatever I have at that point (hopefully somewhere between 1.8 - 1.9 mil). I may work part-time doing something I enjoy down the line, but I don't want to have to work. Anyway, I'm happy to be here and hope to get to know some of you fine folks and fellow 2020ers as we embark on this tremendous journey!
Post by: CoffeeAndDonuts on May 21, 2019, 08:49:01 PM
Took a huge step today and met with my new partners to share my general concerns about balance of work and poor fit for position I'm in.
Took a risk and am giving them 6-12 mos notice that change is coming. They're good people and deserve that.
I was super nervous about it after more than 2 decades in this job, career.
I expected to be elated but mostly I'm keenly aware of the disappointment among them. I continue to work hard to make the combination a success but I know they hoped for more.
Ive also been wracked by self doubt. Good partners, good prospect, ability to take the dream of our prior company to another level.... But it's not my dream anymore.
I believe I'm moving in the right direction but this wasn't an easy step.
The good news, perhaps, is that they're showing a lot of flexibility in hoping to adapt a position to some role I'm interested in. We'll see.
Since this is often a numbers thread... 1.6m nw, $1.4m liquid and still carrying mortgage. Wife's small business covers our expenses and more. I earn quite a bit more. .. for now. But she can easily cover all household expenses so we can glide up toward $2m that makes us totally confident.
Post by: Linea_Norway on May 22, 2019, 04:19:07 AM
??/2020 apurplelife
04-05/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 FIREstache
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
03/2020 Linea_Norway
10/2020 Maenad
11/2020 meatgrinder
12/2020 MoneyTree
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
OMY:
RedefinedHappiness
FIREing later:
FIPurpose (date to decided)
I put in a date in front of my name: January 2020. I feel that that is now the date. It would be cool to be the first (semi-)early retiree in 2010. I till be 46 by then. We will see if it works out in practice.
Post by: meatgrinder on May 22, 2019, 09:25:08 AM
Post by: FIREstache on May 22, 2019, 05:18:18 PM
Welcome to the new 2020's that haven't made the list yet.
I keep straddling that $1.4M line, back above it yesterday, back below today.
Post by: aspiringnomad on May 22, 2019, 08:57:24 PM
Post by: Linea_Norway on May 22, 2019, 11:51:01 PM
Probably safe to bump me back a couple months to April/May 2020. Logistically, that's going to work out better. Although I'm moving my anticipated FIRE date back, I've taken some very concrete steps towards making the actual date a reality, including selling my house (woohoo!) and (even crazier for me) beginning the conversation at work. I was not expecting to start the conversation this far ahead, but I mentioned my plans while turning down a pretty massive promotion opportunity. It's the first time I've ever turned one down and I gotta say it feels pretty great, and even better to acknowledge that I wouldn't be there forever. I don't think I'd have wanted the promotion even if I didn't plan to leave, but it's definitely not in the cards now, and (at least so far) I've got absolutely no regrets about that.
Wow, you are well on your way, with selling your house and ignoring the promotion.
My DH is also taking it easier at work. He said he wanted to leave his management position and go back to being a subject matter expert only. They are currently in the hiring process for a replacement and DH might be "free" from his current position in August. DH has some health issues that become much worse with stress, so he could easily play the health card for this position change. We have both been working 80% this whole year, which is also a nice thing.
Post by: 2sk22 on May 23, 2019, 07:37:14 AM
Post by: meatgrinder on May 23, 2019, 09:13:07 AM
For me, its now beginning to feel like when you were a kid and summer vacation is approaching :-)
Haha..except it feels like school was in session 20x longer and the summer vacation will be at least 50x longer
Post by: RedefinedHappiness on May 23, 2019, 09:17:17 AM
Post by: ysette9 on May 23, 2019, 09:38:22 AM
You can push me to the OMY list. My job transition last year has allowed for time to focus on hobbies and my family and I'm not as desperate to FIRE as I used to be. As a result, I am able to find more of a family compromise approach for my FIRE timing. Probably will only be one year, but need to fund some future family dreams before cutting the cord.That sounds imminently reasonable. Good for you for finding a better balance. That will be my personal goal for next year.
Post by: FIREstache on May 23, 2019, 04:19:57 PM
Post by: FIREstache on May 30, 2019, 03:15:15 AM
The way the market's dropping, I'm glad I moved to the more conservative AA when I did, back on May 3rd. It makes it more tolerable - less stressful to see it drop, albeit I'm still losing $ in the stash.
Since my reallocation to less equities on May 3rd, the market has been going down. Even with ~43% equities, I'm down about $35K. I'm not ready to talk about OMY, but I hope this downward trend doesn't continue. I still have a 2020 vision.
Post by: Bateaux on May 30, 2019, 08:28:15 PM
Post by: RedefinedHappiness on May 30, 2019, 08:47:24 PM
I'm not allocated for a big market drop. Most of my NW is still exposed to stocks. If a big drop comes, I'm going to OMY, OMY till it returns.
Are you planning to adjust allocation once you FIRE and quit work?
Post by: Bateaux on May 31, 2019, 10:00:23 AM
I'm not allocated for a big market drop. Most of my NW is still exposed to stocks. If a big drop comes, I'm going to OMY, OMY till it returns.
Are you planning to adjust allocation once you FIRE and quit work?
We're actually about 75/25 so that's good enough for me. I'll find work whenever the stash dips below 2M.
Post by: FIREstache on May 31, 2019, 03:29:47 PM
I'm not allocated for a big market drop. Most of my NW is still exposed to stocks. If a big drop comes, I'm going to OMY, OMY till it returns.
Are you planning to adjust allocation once you FIRE and quit work?
We're actually about 75/25 so that's good enough for me. I'll find work whenever the stash dips below 2M.
75/25 isn't too crazy - I thought you meant 90% or so. $2M would put FIRE out of reach for me. I can't even hold on to $1.4M in this market - another drop today. But I'm single and never bought a second home in Citrus County, so things still look ok for now. I'm more concerned about the future of the ACA at this point.
Edit: Investments are now down almost $40K since early this month.
Post by: BlueMR2 on May 31, 2019, 05:38:21 PM
Post by: FIREstache on May 31, 2019, 06:20:56 PM
The market doesn't really get me excited when it drops. What really bugs me is when expenses go up. And mine are really up this year. Keep getting slammed with one big expensive emergency after another. Working as much as I am right now too I don't have the time to do any of the labor myself, so having to outsource at today's insane labor rates. Projecting I will have run through my total yearly budget with probably 3-4 months left in the year. Unlikely I will be able to invest any money this year as I try to rebuild my emergency fund.
I mentioned it in my case study, but I've estimated up to $30K for home maintenance in the next two years including roofing, some furniture, replacing a few old appliances, some flooring, some structural, and more. I've been putting off some things, so they didn't exactly sneak up on me. I DIY what I can. So, that will eat up a big chunk of what I would otherwise save this last year of working.
Post by: MoneyTree on May 31, 2019, 07:51:47 PM
Post by: Bateaux on June 01, 2019, 04:10:49 AM
I'm not allocated for a big market drop. Most of my NW is still exposed to stocks. If a big drop comes, I'm going to OMY, OMY till it returns.
Are you planning to adjust allocation once you FIRE and quit work?
We're actually about 75/25 so that's good enough for me. I'll find work whenever the stash dips below 2M.
75/25 isn't too crazy - I thought you meant 90% or so. $2M would put FIRE out of reach for me. I can't even hold on to $1.4M in this market - another drop today. But I'm single and never bought a second home in Citrus County, so things still look ok for now. I'm more concerned about the future of the ACA at this point.
Edit: Investments are now down almost $40K since early this month.
Just checked Mint and the damages are pretty deep. Stash is just over 2M now. That is about a 100K drop in May. If I weren't still.working, I'd be considering some kind of work to offset the drop below my 2M floor. I think it's an easy plan for the early days of FIRE. Eventually the stash should leave the 2M mark in the dust and rocket up to 3M. I didn't save a big pot of money to spend it down. I'm wanting perpetually larger stash, Bogleishly.
Post by: Bateaux on June 01, 2019, 08:27:43 AM
re: market drop.
you 2020 people need to be prepared for a much bigger correction. I'm not saying you should market time, but a 20% drop is not out of the question. It may not materialize, but you really should be thinking about what you would do if it does.
I'm thinking we'll retest last years lows before the end of the year. It's my biggest reason for planning another 12 to 18 months of working. There is nothing magic about 2020 for me to risk giving up a good job right before a recession. There will be warning signs, I'd prefer it to hit right now and get on to recovery as quickly as possible. Kicking the can down the road may only deepen it.
Post by: FIREstache on June 01, 2019, 12:08:08 PM
My AA is prepared for drops, sustained drops at that, much longer than last year. I was 80% equities heading into July 2018 and 60% equities heading into the big drop last year. I stuck it out through the recovery and finally reallocated on May 3, 2019 to about 43% in equites. If a big drop happens after I FIRE, I'll simply avoid drawing down equities to bring my AA back in balance. I'm 54, so I'm really not interested in the idea of returning to work at a much lower paying job after I FIRE, and that shouldn't be an issue since my stash is more than double what I need to pay required expenses when excluding discretionary, even when excluding SS from the calculation, which would be 10 to 15 years out. I don't have a problem with my stash being spent down during retirement since I don't even have any kids.
Post by: Body Surfer on June 01, 2019, 03:45:00 PM
Post by: Linea_Norway on June 02, 2019, 12:34:03 PM
Post by: Linea_Norway on June 02, 2019, 12:42:22 PM
07/2020 2sk22
??/2020 apurplelife
04-05/2020 aspiringnomad
08/2020 Bateaux
12/2020 BFGirl
??/2020 BlueMR2
05/2020 Body Surfer
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 FIREstache
??/2020 Freedomin5
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
03/2020 Linea_Norway
10/2020 Maenad
11/2020 meatgrinder
12/2020 MoneyTree
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit
05/2020 Rcc
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9
OLY:
2Birds1Stone
OMY:
RedefinedHappiness
FIREing later:
FIPurpose (date to decided)
Post by: FIREstache on June 02, 2019, 01:11:24 PM
??/2020 FireLane
??/2020 FIREstash
??/2020 Freedomin5
List has a FIREstash but no FIREstache. FIREstache can be added. Thanks.
Fixed. I cannot quote a FIREstash, so that name probably doesn't exist.
You are all free to quote and edit the list yourself as well.
Thanks. It used to be that half the time I opened the 2019 thread, it was just a new post of the list, so there might be 3 posts of the list on the same page, so I try to avoid that.
Trifele on the 2019 list has fixed the excessive reposting by just editing the pre-existing (latest page) list. It helps if the list maintainer is 1 person who is quick about updates. I wasn't, so Trifele picked up the list maintainance.
I still think we should use that idea here. So should 2019.
Post by: FIREby2021 on June 02, 2019, 02:34:26 PM
May Highlights:
- Let's just agree that "down" months are less enjoyable to talk about. Going in reverse feels bad, but hey ... it's a good reminder that none of us are in control and some months the markets take a header. Energy holdings in particular were bad this month. As mentioned in prior updates, May was also a lower savings month to handle a series of BIG expenses ... but we are now through all that and poised to get this train back & moving in the right direction. NEXT!!
- We had several wonderful long weekends during May ... spent time with friends and out on our own exploring some new parts of the state. I have a feeling June/July is going to FLY by, as I have some work travel, vacation time and another trip back north to help my family & work remotely.
- Countdown: Reaching FI in 2020 seems unlikely after months like this; current math projects us reaching our goal by EOY 2020, but who knows what lies ahead. My whiteboard countdown tracker now shows 21 months remain to reach our FIRE target timing of Q1-2021.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
Later!
FIREby2021
Post by: itchyfeet on June 03, 2019, 04:23:23 AM
Post by: FIREstache on June 03, 2019, 06:12:53 PM
I had been at 101% and 260% respectively on May 3rd before stocks starting dropping.
I have enough of a discretionary buffer I may still FIRE even if I'm a few percent below my preferred number a year from now.
Post by: ysette9 on June 04, 2019, 03:00:50 PM
98.4% as of today toward my preferred FIRE number, 252% of my base expenses "FI" number.That is a nice buffer! We dropped back down to 88% so next year may be a bit of a stretch depending on how the market performs between now and then. But that is okay. I am working on my part-time work proposal that I will submit to my management after I go on maternity leave. I would love to be part time next year to keep the level of insanity down. My husband has just started dipping his toes into the idea of part time for himself. I suspect he will want all of next year as full time income for himself at least so we can continue to pad our accounts. After that, who knows? Maybe part time work for both of us will be the perfect balance. Maybe just one of us doing part time to cover expenses and leave our investments untouched for a while longer will make him feel more secure. The important thing is FREEDOM and a better quality of life through more free time than we have now.
I had been at 101% and 260% respectively on May 3rd before stocks starting dropping.
I have enough of a discretionary buffer I may still FIRE even if I'm a few percent below my preferred number a year from now.
I’ve been planting little seeds in my husband’s mind while there is still time for them to sprout. “How about we spend each summer in another wonderful place in the world via a house exchange? What do you think of the summer somewhere in France or in the Swiss Alps?”
Post by: Linea_Norway on June 05, 2019, 12:38:47 AM
That is a nice buffer! We dropped back down to 88% so next year may be a bit of a stretch depending on how the market performs between now and then. But that is okay. I am working on my part-time work proposal that I will submit to my management after I go on maternity leave. I would love to be part time next year to keep the level of insanity down. My husband has just started dipping his toes into the idea of part time for himself. I suspect he will want all of next year as full time income for himself at least so we can continue to pad our accounts. After that, who knows? Maybe part time work for both of us will be the perfect balance. Maybe just one of us doing part time to cover expenses and leave our investments untouched for a while longer will make him feel more secure. The important thing is FREEDOM and a better quality of life through more free time than we have now.
I’ve been planting little seeds in my husband’s mind while there is still time for them to sprout. “How about we spend each summer in another wonderful place in the world via a house exchange? What do you think of the summer somewhere in France or in the Swiss Alps?”
Working parttime will make you feel rich, having days off while everyone else is working. You will notice that the whole world is more quiet, less traffic, less people in shops and at attractions. When we went working 4 days a week, we did it both. This way we also both have a long weekend where we can travel away if we want to.
After FIRE, DH thinks that occasional work in his field of expertise will give us some cash to to extra things, like travel or a new car or so. I think our FIRE budget already allows for that. But as long as he feels that, I wouldn't mind him working a bit here and there. I don't really feel like doing the same. I told him I could be his assistant sometimes.
Post by: ysette9 on June 05, 2019, 07:47:57 AM
Post by: FIREstache on June 10, 2019, 08:57:10 PM
98.4% as of today toward my preferred FIRE number, 252% of my base expenses "FI" number.That is a nice buffer! We dropped back down to 88% so next year may be a bit of a stretch depending on how the market performs between now and then. But that is okay. I am working on my part-time work proposal that I will submit to my management after I go on maternity leave. I would love to be part time next year to keep the level of insanity down. My husband has just started dipping his toes into the idea of part time for himself. I suspect he will want all of next year as full time income for himself at least so we can continue to pad our accounts. After that, who knows? Maybe part time work for both of us will be the perfect balance. Maybe just one of us doing part time to cover expenses and leave our investments untouched for a while longer will make him feel more secure. The important thing is FREEDOM and a better quality of life through more free time than we have now.
I had been at 101% and 260% respectively on May 3rd before stocks starting dropping.
I have enough of a discretionary buffer I may still FIRE even if I'm a few percent below my preferred number a year from now.
I’ve been planting little seeds in my husband’s mind while there is still time for them to sprout. “How about we spend each summer in another wonderful place in the world via a house exchange? What do you think of the summer somewhere in France or in the Swiss Alps?”
I'm back up to over 100% of my preferred number- $1.4M. I could give up a chunk of that discretionary spending if I had to and still be happy in FIRE, but I wouldn't want to give up all of it and just covering my expenses. But, at least on a temporary basis of a year or so, I could probably cut back up to 80% on my planned discretionary without feeling too squeezed. I would just have to cut back on traveling. I can't say for certain until I'm actually in that situation.
Since I'll be 55 at my FIRE target date, and I've already committed to OMY beyond my original 2019 target, I'm not sure I'll even want to continue working part time 10-11 months from now, if it's even an option. I won't feel or be truly free until I FIRE from the job completely. I'll see how I feel when the time comes.
Post by: Linea_Norway on June 18, 2019, 07:13:46 AM
I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.
Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.
In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.
Post by: Bateaux on June 18, 2019, 11:01:22 AM
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?
I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.
Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.
In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.
It's passing too quickly actually. I've actually given thought to calling it quits right now. It's because it's my last month to pull the plug at 50. Makes more sense to do so at 52 in 2020 in my case. With the market up over 1% today we will have more money at the end of the day than we've ever had. With the bull market still raging and good paychecks still rolling in I'm addicted. The desire to see just how high it will go is what's driving me now.
Post by: FIREstache on June 18, 2019, 11:19:56 AM
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?
I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.
Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.
In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.
It's passing too quickly actually. I've actually given thought to calling it quits right now. It's because it's my last month to pull the plug at 50. Makes more sense to do so at 52 in 2020 in my case. With the market up over 1% today we will have more money at the end of the day than we've ever had. With the bull market still raging and good paychecks still rolling in I'm addicted. The desire to see just how high it will go is what's driving me now.
I thought it was the ACA and waiting out the next election cycle that was driving you? The ACA uncertainty definitely is a concern to me, which was a big factor in me OMYing to spring 2020. Due to my income, I have to strategize early in the year to keep my income at a certain level for a subsidy, so I will have my next good opportunity in the spring if things work out.
I definitely think about this being the last full year. I was just planning out some of my summer vacation time (off from work) and was thinking this could be the last year that I ever have to plan when to use up my summer vacation time.
I might relocate after I FIRE also but not likely in the first year as I need to do some work on the house that I'm saving for some early FIRE projects.
Post by: Bateaux on June 18, 2019, 11:55:20 AM
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?
I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.
Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.
In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.
It's passing too quickly actually. I've actually given thought to calling it quits right now. It's because it's my last month to pull the plug at 50. Makes more sense to do so at 52 in 2020 in my case. With the market up over 1% today we will have more money at the end of the day than we've ever had. With the bull market still raging and good paychecks still rolling in I'm addicted. The desire to see just how high it will go is what's driving me now.
I thought it was the ACA and waiting out the next election cycle that was driving you? The ACA uncertainty definitely is a concern to me, which was a big factor in me OMYing to spring 2020. Due to my income, I have to strategize early in the year to keep my income at a certain level for a subsidy, so I will have my next good opportunity in the spring if things work out.
I definitely think about this being the last full year. I was just planning out some of my summer vacation time (off from work) and was thinking this could be the last year that I ever have to plan when to use up my summer vacation time.
I might relocate after I FIRE also but not likely in the first year as I need to do some work on the house that I'm saving for some early FIRE projects.
Yeah. Waiting out the election to try and predict the future of the ACA is a huge factor in not tossing in the towel. If we lose it, I'm almost guaranteed to wait till 2023 when I'll qualify for company retiree health insurance. That's over 4 years away. Even greed won't keep me happy that long.
Post by: Linea_Norway on June 19, 2019, 01:36:01 AM
I have also asked him what the best time would be to walk the Pennine way in Brittain in 2020, when FIREd. He agreed om September being a good time, insect wise.
Post by: beeboy on June 19, 2019, 09:02:34 AM
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?
I think it depends on the day. On a good day, you're like "I can do this a little while longer and collect the nice regular pay check" and on other days you're like "I can't stand this place another minute, want out right now and the pay isn't worth the aggravation." Also, I think a lot of us are probably still wondering if we'll really be alright financially once we FIRE. You look around and don't see anyone ER-ing in your circle in the real world and you get second thoughts. I think this place is great as a support system of like minded people who offer not only encouragement, but also proof that ER can be done. Thanks!
Post by: MoneyTree on June 20, 2019, 12:17:17 AM
In previous years, I could just kick these questions down the road, tell myself to stay the course and deal with those things "later".
Well, "later" is now here so I have to deal with those questions. It helps to know I'm not the only one wrestling with these fears and how others have dealt with it, which many people have shared on these forums.
Post by: Linea_Norway on June 20, 2019, 02:20:04 AM
Still, I hope that we will be equally motivated in the future to go on these sort of trips, but then whenever we want to.
We have watched a couple of old episodes of a TV serie called "Where the wild men live". It is about people who give up on normal life and go live somewhere remote under simple conditions. DH commented that if you are willing to give up on a lot of normal, estashlished things in your life, you could really live extremely cheaply. Instead of living in a cave, you could buy a small cabin in the woods. If you can manage to live of what you grow, fish and gather otherwise (dumpster diving?), you can indeed survive on very little money. (Where I live, we have health care included in our taxes). I am not saying that I directly feel like living such a simple life, but I would like to live more on food that I find or produce and maybe have some solar panels for electricity and my own firewood (we have had our own well and firewood for years). Just living a relatively simple, but good life.
Post by: albireo13 on June 20, 2019, 06:30:00 AM
still looking at 2020. Sold our house and moved into a rental apartment while we continue looking for our next house/condo.
Our sale closing is today. We net only $100K but, will be enough for downpayment on next property.
Status:
combined stash = $1.51M
lump sum all pensions = $1M.
SS = $71K/yr. (both at FRA)
Post by: beeboy on June 20, 2019, 09:44:23 AM
Post by: AO1FireTo on June 20, 2019, 10:20:57 AM
Since we are so close, I was wondering what the ages are for most people in the FIRE class of 2020? I'm 45 right now and will be 46 at FIRE time with 25 years in the professional w*%kforce. Is there an average or median age for our class?
Yes this would be great to know, give some of us not in this cohort some hope :)
Post by: markbike528CBX on June 20, 2019, 10:57:29 AM
Since we are so close, I was wondering what the ages are for most people in the FIRE class of 2020? I'm 45 right now and will be 46 at FIRE time with 25 years in the professional w*%kforce. Is there an average or median age for our class?
SUGGESTION: add a column to the class list. See 2019 cohort class list for example.
Post by: beeboy on June 20, 2019, 10:58:56 AM
Since we are so close, I was wondering what the ages are for most people in the FIRE class of 2020? I'm 45 right now and will be 46 at FIRE time with 25 years in the professional w*%kforce. Is there an average or median age for our class?
SUGGESTION: add a column to the class list. See 2019 cohort class list for example.
Good idea. Which page is the class list on? I need to add me! :0)
Post by: markbike528CBX on June 20, 2019, 11:14:56 AM
Pg 17, just one page ago. https://forum.mrmoneymustache.com/welcome-to-the-forum/2020-fire-cohort/msg2386669/#msg2386669Since we are so close, I was wondering what the ages are for most people in the FIRE class of 2020? I'm 45 right now and will be 46 at FIRE time with 25 years in the professional w*%kforce. Is there an average or median age for our class?
SUGGESTION: add a column to the class list. See 2019 cohort class list for example.
Good idea. Which page is the class list on? I need to add me! :0)
Copy and paste the list. Note that the thread is trying to keep the list to once per page, so if you post it YOU have to update it, as only you can update/edit your posts.
Hey 2020! sounds like @beeboy has vounteered as the keeper of the list :-)
Post by: beeboy on June 20, 2019, 12:48:05 PM
Pg 17, just one page ago. https://forum.mrmoneymustache.com/welcome-to-the-forum/2020-fire-cohort/msg2386669/#msg2386669Since we are so close, I was wondering what the ages are for most people in the FIRE class of 2020? I'm 45 right now and will be 46 at FIRE time with 25 years in the professional w*%kforce. Is there an average or median age for our class?
SUGGESTION: add a column to the class list. See 2019 cohort class list for example.
Good idea. Which page is the class list on? I need to add me! :0)
Copy and paste the list. Note that the thread is trying to keep the list to once per page, so if you post it YOU have to update it, as only you can update/edit your posts.
Hey 2020! sounds like @beeboy has vounteered as the keeper of the list :-)
Thanks markbike, but keeper of the list sounds like too big of a responsibility for me. Maybe once I'm FIRE I'll have some extra time to handle :0)
Post by: Body Surfer on June 20, 2019, 02:59:04 PM
Post by: FIREstache on June 20, 2019, 03:15:56 PM
I'm 54 but will be 55 if I FIRE on schedule. I could have FIREd a few years earlier, but I wanted more funds for discretionary as well as some padding in the stash, plus the ongoing uncertainty of the ACA.
If it works out, it will still be much earlier than my full retirement age of 67, which is what I used to figure I would work to.
I actually reduced my AA from 80% stocks to 60% in mid-2018 and further reduced to 43% stocks on May 3rd of this year with FIRE targeted just over 9 months out and with a 10 year delay before drawing SS. The shorter windows to FIRE and to SS give me a better success rate with a lower stock allocation, although I plan to use a rising equity glide path to increase my equity exposure some in the years following FIRE.
My stash hit a new record today. Yeh!!
Post by: Linea_Norway on June 21, 2019, 12:56:59 AM
07/2020 2sk22
??/2020 apurplelife
04-05/2020 aspiringnomad (@37)
08/2020 Bateaux
03-04+2/2020 Beeboy (@46)
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
03/2020 FInding_peace (@38)
??/2020 FIREby2021
??/2020 FireLane (@38)
??/2020 FIREstache (@55)
??/2020 Freedomin5 (@38)
??/202? Gumption
04/2020 Itchyfeet
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
01-03/2020 Linea_Norway (@46)
07-12/2020 MMM123
10/2020 Maenad
11/2020 meatgrinder
12/2020 MoneyTree (@36)
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit (@58)
05/2020 Rcc
04-12/2020 robtown
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05-06/2020 Unique User
12/2020 ysette9 (@38)
OLY:
2Birds1Stone
OMY:
RedefinedHappiness
FIREing later:
FIPurpose (date to decided)
Post by: Linea_Norway on June 21, 2019, 01:00:14 AM
I am also 46 and will FIRE while still 46. Never again a birthday (in June) as a working bee!
Post by: MMM123 on June 21, 2019, 02:23:06 AM
Have a long way to go - will definitely be the second half of 2020 I fear!
"RE" for me won't be to stop working, but to stop working for other people, and instead work on my own things in my own time (I'd go stir crazy sitting at home doing nothing anyways...).
Post by: Freedomin5 on June 21, 2019, 08:04:11 AM
Post by: FIREstache on June 21, 2019, 08:34:40 AM
The @ indicates FIRE age.
See one post before your list. :)
Post by: ysette9 on June 21, 2019, 10:40:30 AM
I’m hoping to hit FIRE status when I’m still 38.Woot woot! I turn 38 early 2020 and so that is my target too. Worst case scenario I want to be able to say I retired before 40. :)
Post by: beeboy on June 21, 2019, 10:41:34 AM
Since we are so close, I was wondering what the ages are for most people in the FIRE class of 2020? I'm 45 right now and will be 46 at FIRE time with 25 years in the professional w*%kforce. Is there an average or median age for our class?
SUGGESTION: add a column to the class list. See 2019 cohort class list for example.
Looking at the 2019 FIRE page, it seems like there is a pretty even mix of people in their 30s, 40s, 50s and then some in their 60s and even someone who is 29 who just retired! As for my FIRE date, I plan on FIRE-ing in March or April of 2020, but will probably have to stay on for 2 months after that per my contract.
Post by: rab-bit on June 21, 2019, 01:08:02 PM
Post by: itchyfeet on June 23, 2019, 11:32:34 AM
07/2020 2sk22
??/2020 apurplelife
04-05/2020 aspiringnomad
08/2020 Bateaux
03-04+2/2020 Beeboy (@46)
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
04/2020 Itchyfeet
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
??/2020 FIREby2021
??/2020 FireLane
??/2020 FIREstache (@55)
??/2020 Freedomin5 (@38)
??/202? Gumption
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
03/2020 Linea_Norway (@46)
07-12/2020 MMM123
10/2020 Maenad
11/2020 meatgrinder
12/2020 MoneyTree
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit (@58)
05/2020 Rcc
04/2020 robtown (maybe 12/31/2020)
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
11/2020 ToughMother
??/2020 tooqk4u22
05/2020 Unique User (maybe 06/2020)
12/2020 ysette9 (@38)
OLY:
2Birds1Stone
OMY:
RedefinedHappiness
FIREing later:
FIPurpose (date to decided)
Post by: FIREstache on June 23, 2019, 12:31:56 PM
Copy and paste the list. Note that the thread is trying to keep the list to once per page, so if you post it YOU have to update it, as only you can update/edit your posts.
I agree, we should have the list only once per page. We don't want this to end up like the 2019 list where half the time you open it, it's just a new posting of the list.
Linea_Norway is handling the list and can update the previous post with any edits.
Post by: MoneyTree on June 23, 2019, 11:08:51 PM
Post by: Linea_Norway on June 24, 2019, 01:09:56 AM
Some time later this year, the list will be resorted by date. For the moment I think the alphabetic list is practical for maintenance purposes.
To me, it is incredible that some people can FIRE in their thirties, that is so young.
In my own case, I think we have fallen for some lifestyle inflation and could have FIREd earlier if we hadn't done so. Plus that my FIRE budget is much higher than our actual expenses, because I have planned for some eventualitites and I would hate having to go back to work. I wonder a bit how many years we could have shaved off if we would have made other choices. Maybe 5 years. But anyway, there is no point in dwelling things you can't change anymore. Now I am just looking forward and thinking in how much a better situation I am compared to my co-workers who don't have the same way out. There are more than just myself who really need it.
Post by: beeboy on June 24, 2019, 09:16:28 AM
Now I am just looking forward and thinking in how much a better situation I am compared to my co-workers who don't have the same way out. There are more than just myself who really need it.
Yeah, I feel for some of my friends (not really my co-workers ). Was out with a few friends on Friday night and we kinda got into future plans, etc. and I could just tell that they are so far away from being able to do what we have all decided. There really aren't many of us out there.
Post by: FInding_peace on June 24, 2019, 09:47:04 AM
I've actually been targeting 2020 since February 2016 when I started my current job. Back then, I thought I could just barely make it to FI by the end of 2020. I then firmed up the target date to May 15, 2020 after getting a 10% raise in spring of 2017. A one-year retention bonus that will pay out in January 2020 now makes it look like I can move that up a couple months more and squeak out in March. We'll see how it all goes, but I'm feeling pretty confident about the 2020 part at least. I still can't believe it's so close now after so many years of working and saving. I first read about MMM and started dreaming of FIRE back in 2012. It seems unreal that it's really going to happen, I'm really doing this.
A bit about me: I'm a 38-year-old female (also a June birthday ;-) ). I'm currently a data scientist at a tech company, and I used to be a professor in academia before that. I have about 85K left to go to my FI goal currently. I'm hoping to spend my FI time slowing down and living life at a more relaxed pace, doing outdoorsy things like hiking and rock climbing, cooking and baking, reading, traveling, tinkering around with stuff I find interesting, and dabbling in photography or painting. I'd also like to build stronger friendships and a fulfilling long-term romantic relationship.
Looking forward to 2020!
Post by: aspiringnomad on June 24, 2019, 09:39:38 PM
Anyway, the house is sold, the rental condo is paid off, and I'm enjoying being both a renter and a landlord for the time being. Things are coming together nicely (knocks on wood).
Post by: aspiringnomad on June 24, 2019, 09:45:54 PM
Hello 2020 crew! If it's alright, I'd like to throw my hat in the ring and join you, targeting March 2020. I'll be 38 years old, which seems to be a popular age in this crew ;-).
I've actually been targeting 2020 since February 2016 when I started my current job. Back then, I thought I could just barely make it to FI by the end of 2020. I then firmed up the target date to May 15, 2020 after getting a 10% raise in spring of 2017. A one-year retention bonus that will pay out in January 2020 now makes it look like I can move that up a couple months more and squeak out in March. We'll see how it all goes, but I'm feeling pretty confident about the 2020 part at least. I still can't believe it's so close now after so many years of working and saving. I first read about MMM and started dreaming of FIRE back in 2012. It seems unreal that it's really going to happen, I'm really doing this.
A bit about me: I'm a 38-year-old female (also a June birthday ;-) ). I'm currently a data scientist at a tech company, and I used to be a professor in academia before that. I have about 85K left to go to my FI goal currently. I'm hoping to spend my FI time slowing down and living life at a more relaxed pace, doing outdoorsy things like hiking and rock climbing, cooking and baking, reading, traveling, tinkering around with stuff I find interesting, and dabbling in photography or painting. I'd also like to build stronger friendships and a fulfilling long-term romantic relationship.
Looking forward to 2020!
Welcome to the cohort, FInding_peace! Your story is similar to mine in a lot of ways, including working in a data-oriented field and finding MMM in 2012. It's hard to believe that the goal is so close after all those years. Cheers!
Post by: aspiringnomad on June 24, 2019, 10:03:39 PM
For those of you who are quitting there job and/or moving next year, are you already thinking about this being the last year?
I have this feeling quite often and had it from last year, as we did a OMY. I am often thinking that this is the last time I have to do this yearly task (at work or at home) or the last time I can do this seasonal thing in my neighbourhood.
Some tasks I am happy to loose next year. But I have lived in my current area for almost 2 decades and know the area well, and a good number of people. It will be pretty weird to move somewhere else and start from scratch again. I am a bit anxious about it. On the other hand, if we can do this moving at our own pace, without having to bother about a job, it should be quite doable.
In September/October it will start for real and we will hire a broker to start the home sale process. We will try to sell in winter time. Let's hope the market won't go down by then. Currently there are a couple of homes for sale in the area where I live and I'm surprices at the very high prices for not high-end homes. Our home has the greatest view you can imagine that that alone should make it very attractive for some people. It is also big and looks a bit high end from inside. Nice wooden floor, big living room, big fire place etc.
We sort of did a trial run by selling our place and moving to a new neighborhood where we are renting for a year. It's not far from our old neighborhood, but it has a very different vibe. No regrets whatsoever, but admittedly it's very easy to visit our old neighbors and haunts for now.
Also have to admit that I am getting anxious about the big move, though I can't tell whether the source of that anxiety is shifting countries and the bureaucratic headaches involved or just turning off the firehose of cash. Just gotta push through that anxiety, because...one life, lots to see and experience, time is the only thing you don't get back, stay adventurous, YOLO, etc., etc.... :)
Post by: BFGirl on June 26, 2019, 03:36:09 PM
I still plan on the end of 2020, but sometimes flirt with OMY or 2MY to build up the stash and pension more. I have a new boss who is awesome, but I'm just tired of the job itself and not being able to pursue my side gig full time.
Down to 554 total days and 396 workdays until I can walk out the door if I want to. :-)
Post by: ysette9 on June 26, 2019, 04:42:56 PM
My BF moved in and proposed, so now he is my fiancee. He is very supportive of me retiring if that's what I want. He loves his job and has certain career goals he wants to meet, so retirement isn't on his horizon for the next 10-15 years.Congratulations on your engagement!
I still plan on the end of 2020, but sometimes flirt with OMY or 2MY to build up the stash and pension more. I have a new boss who is awesome, but I'm just tired of the job itself and not being able to pursue my side gig full time.
Down to 554 total days and 396 workdays until I can walk out the door if I want to. :-)
What would combined finances look like if you fiancé decided in a year or two that FIRE looked like more fun than working after all?
Post by: Linea_Norway on June 27, 2019, 01:23:56 AM
My BF moved in and proposed, so now he is my fiancee. He is very supportive of me retiring if that's what I want. He loves his job and has certain career goals he wants to meet, so retirement isn't on his horizon for the next 10-15 years.
I still plan on the end of 2020, but sometimes flirt with OMY or 2MY to build up the stash and pension more. I have a new boss who is awesome, but I'm just tired of the job itself and not being able to pursue my side gig full time.
Down to 554 total days and 396 workdays until I can walk out the door if I want to. :-)
Congrats on your engagement.
If you have a great boss now, is there any chance you can talk about getting different tasks at work to make it more interesting? Isn't your side gig going to provide some extra cushion after FIRE?
I presume it is more difficult to live on a lean budget if you would now have a partner with a more normal spending pattern. I hope he sees the value of not spending mindlessly on e.g. food and eating out.
Post by: BFGirl on June 27, 2019, 08:01:57 AM
My BF moved in and proposed, so now he is my fiancee. He is very supportive of me retiring if that's what I want. He loves his job and has certain career goals he wants to meet, so retirement isn't on his horizon for the next 10-15 years.Congratulations on your engagement!
I still plan on the end of 2020, but sometimes flirt with OMY or 2MY to build up the stash and pension more. I have a new boss who is awesome, but I'm just tired of the job itself and not being able to pursue my side gig full time.
Down to 554 total days and 396 workdays until I can walk out the door if I want to. :-)
What would combined finances look like if you fiancé decided in a year or two that FIRE looked like more fun than working after all?
He doesn't have near the retirement stash that I have due to divorce and having to go back and get custody, so it would probably be tighter than I would like for us both to retire. Health insurance would also be a factor. He would also go crazy without something to do and I want to work on my side gig, so I don't really see him wanting to retire anytime soon.
Post by: BFGirl on June 27, 2019, 08:24:13 AM
My BF moved in and proposed, so now he is my fiancee. He is very supportive of me retiring if that's what I want. He loves his job and has certain career goals he wants to meet, so retirement isn't on his horizon for the next 10-15 years.
I still plan on the end of 2020, but sometimes flirt with OMY or 2MY to build up the stash and pension more. I have a new boss who is awesome, but I'm just tired of the job itself and not being able to pursue my side gig full time.
Down to 554 total days and 396 workdays until I can walk out the door if I want to. :-)
Congrats on your engagement.
If you have a great boss now, is there any chance you can talk about getting different tasks at work to make it more interesting? Isn't your side gig going to provide some extra cushion after FIRE?
I presume it is more difficult to live on a lean budget if you would now have a partner with a more normal spending pattern. I hope he sees the value of not spending mindlessly on e.g. food and eating out.
Thanks for the congratulations!
The job is pretty much what it is, due to the nature of the work and personalities of other coworkers.
The side gig will give me a little extra cushion, but I am not factoring it into my fire budget because it is dependent upon my productivity.
I am probably more spendy than some people on this forum, but he and I are mostly on the same page with our views on finances. We plan to keep our finances separate since we each have college aged kids from other marriages and just keep a joint account for household expenses.
Sharing expenses (and the fact that I could go on his health insurance) gives me a bit more cushion for FIRE, but I still want to make sure I can feasibly manage it even without sharing expenses in case something unforeseen happens.
Since I am a little more spendy, there are also various things I can cut from my budget if necessary.
Post by: Linea_Norway on July 01, 2019, 07:46:06 AM
I would still like to FIRE the first of Jan 2020. But DH thinks it is so smart to use up our free foot of income tax, which is approx 2 months of salary. He also thought of FIRE budget was not including any taxes to be paid, but it is. So we really have a lot to live off. I doubt whether we need those 2 months of salary, but of course, the pay if better than usual if you don't pay any income taxes. As we don't yet agree on a date, I put the first of February in my counter. But this might be subject to change.
Post by: FIREby2021 on July 01, 2019, 11:17:38 AM
June Highlights:
- Mirror image of May, from a financial perspective. After 2 months of (expected) low savings months, we got back on track with our regularly scheduled savings program. Also nice to see positive market performance, with quarterly dividends playing the role of savings accelerator. At the mid-way point of 2019, our NW stands at an all-time high-water mark. Markets swing up and down, but we expect to have steady savings rates through the EOY to keep the overall stache movement in a positive direction.
- While May was a month full of long-weekend mini-adventures, June was a month where we finally took a real vacation break. Spent a week in Maine hiking around Acadia National Park (fun!), and spent some time in the TX hill country for some refreshing, relaxing days afterward. July kicks off with a long weekend, then I plan working remotely for 2 weeks while continuing to support my aging parents out-of-state.
- As of today, our NW provides the following: a paid-off FIRE home, fully-funded FIRE lump sums (giving, renovation budget, replacement car) and a 4.42% WR based on our projected annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.).
- Countdown: Assuming monthly progress on par with our historic averages, we should clip sub-4% by Q1-2020 en-route to our ultimate goal of 3.75% by Q4-2020, but who knows what lies ahead. My whiteboard countdown tracker now shows 20 months remain to reach our most-likely FIRE target timing of Q1-2021.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sum funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
JUN 2019 89.3%
Peace out!
FIREby2021
Post by: ysette9 on July 01, 2019, 12:58:18 PM
- How to calculate what our MAGI will be, ACA subsidies, etc.
- How to actually live off of our investments - which accounts to pull from and when and how, what asset allocation
- Factoring in state taxes into the budget (my first pass guest put that at around 5-8%, so I haven't been paying close attention
- How to think of the mortgage in retirement and how that stacks up with a larger bond holding in our AA. I like the reverse equity glidepath for reducing sequence of returns risk, but https://earlyretirementnow.com/2017/10/11/the-ultimate-guide-to-safe-withdrawal-rates-part-21-mortgage-in-retirement/ (https://earlyretirementnow.com/2017/10/11/the-ultimate-guide-to-safe-withdrawal-rates-part-21-mortgage-in-retirement/)this article makes me re-think the intelligence of a large bond holding while simultaneously holding a large mortgage. I'm not sure where to go for more info or how to model this out.
Post by: FIREstache on July 01, 2019, 04:50:04 PM
And yehhh.... my stash just hit a new record today, about 102% of my stash goal which includes a nice discretionary amount.
Post by: Linea_Norway on July 02, 2019, 01:07:41 AM
Yesterday I also used the visual rich, broke, dead calculator once more: https://engaging-data.com/will-money-last-retire-early/
And for the first time, we don't go broke in that calculator. But we might still die of course. Things are looking positive financially.
I am sitting out the year to receive this years pension (7% of my income), as I will loose it if I quite before the year has ended. We are only taking about 6000$, as I work 80%. And as mentioned above, I am negotiating with DH about how much to work into 2020 for beneficial tax rules. I am thinking about 1 month max. DH also mentioned that if we cannot sell the clown house for our minimum amount, you can either stay living in it (FIRE) and hope the market will get better. Or sell cheap and keep working longer, living somewhere else close to it. I am still positive that we can sell our home for a good price, maybe a good deal above our minimum price. And we will be able to FIRE with good conscience. We will need to talk to another real estate broker first, before we give notice at our jobs. We will start the process at the end of September by finding a broker.
Post by: Freedomin5 on July 02, 2019, 01:51:26 AM
Post by: DadzillaGorilla on July 02, 2019, 06:26:14 AM
First post on webpage so here goes...
Not sure if I will RE in 2020, but sure am going to be financially independent. I am an accountant in Financial Services, but have also run small enterprises outside of work for many years. I am currently 35, and have intended to retire at 40 for most of my life, but am making moves to bring this forward should I wish.
I worked 60 hours in McDonalds while doing my university degree and have always been considerate with my money. I have never been a big spender (grew up on a council estate and got used to be thrifty due to a poor upbringing), and as such I save around 70% of my salary putting into Pension/Share ISA/Property/Crypto/Antiques/Art etc while still never thinking "I would like something" but can't have it.
Some of my biggest savings are not buying clothes from a retail store, but everything comes from second hand/vintage stores, as well as driving a 96 Volkswagen that I own and would not spend on a car due to loss of depreciation and Tax instantly.
Anyway, enough of an intro, here is to FI in 2020 and RE whenever my boss annoys me too much to continue :)
Any questions give me a shout :)
Post by: Linea_Norway on July 02, 2019, 07:30:41 AM
Hi All,
First post on webpage so here goes...
Not sure if I will RE in 2020, but sure am going to be financially independent. I am an accountant in Financial Services, but have also run small enterprises outside of work for many years. I am currently 35, and have intended to retire at 40 for most of my life, but am making moves to bring this forward should I wish.
I worked 60 hours in McDonalds while doing my university degree and have always been considerate with my money. I have never been a big spender (grew up on a council estate and got used to be thrifty due to a poor upbringing), and as such I save around 70% of my salary putting into Pension/Share ISA/Property/Crypto/Antiques/Art etc while still never thinking "I would like something" but can't have it.
Some of my biggest savings are not buying clothes from a retail store, but everything comes from second hand/vintage stores, as well as driving a 96 Volkswagen that I own and would not spend on a car due to loss of depreciation and Tax instantly.
Anyway, enough of an intro, here is to FI in 2020 and RE whenever my boss annoys me too much to continue :)
Any questions give me a shout :)
Welcome to the group. Working while being FI is a good position to be in. Maybe let your boss know that you could leave any moment, then maybe he/she will behave.
Post by: DadzillaGorilla on July 02, 2019, 08:06:36 AM
Post by: TheContinentalOp on July 02, 2019, 09:01:25 AM
I might already have achieved FI. Right now a 4% withdrawal rate would give me 151% of my current spending.
But I'd like to save up until I get to a buffer of 3.5% for 150% of my spending.
That probably won't happen by my current target date of March 2020.
But now there's a possibility that our office will move in March. We moved within the same building 5 years ago and it was a real hassle. This time we'd be moving to a new address and I don't know if I want to do all the work associated with that. So if we do move, I might bail short of my financial buffer.
Post by: FireLane on July 02, 2019, 05:23:51 PM
When I did my last end-of-month spreadsheet, I was within 3% of my number. It's possible I'll hit it this year, but even if I do, I'm not planning to OLY. No matter what happens, I think I'll work until 2020 at least. If I give myself a little extra padding, that's no bad thing.
I updated our financial spreadsheet today to get a snapshot of where everything is at. With our investment gods smiling on us we topped in at 94% of our stated FIRE goal. Funny how the closer we get, the less confident I feel that it is The Number and that we know what the hell we are talking about.
You should do a drawdown analysis, @ysette9! Pick a withdrawal rate you can live on, then figure out which accounts that will be coming from and how much of that is capital gains. I did a similar exercise in my journal, and it was actually very reassuring as far as how much I'll be paying in taxes and what level of subsidies I can expect for health insurance. Most of us FIRE folk will be able to live very well while having virtually no taxable income.
Post by: FIREstache on July 02, 2019, 05:38:03 PM
I am 54.
I might already have achieved FI. Right now a 4% withdrawal rate would give me 151% of my current spending.
But I'd like to save up until I get to a buffer of 3.5% for 150% of my spending.
54 here also. You've definitely achieved FI with those numbers, and that's without even factoring that you'll be able to get SS benefits 10 or so years into FIRE. At age 65, I figure I can drop my WR from 3.5% to 2.2% despite increased health care spending under Medicare because starting SS benefits will fund a chunk of my expenses.
Post by: ysette9 on July 02, 2019, 05:48:35 PM
I'll be 38 in 2020 as well! Looks like it's a popular age in this cohort.I need to figure out a template for how to start this. I suck at taxes so I wonder if i need to get some paper forms to walk me through how this stuff is actually calculated so I can understand? The TurboTax interfaced is nice for tax dummies but isn’t good for figuring out what is going on behind the scenes.
When I did my last end-of-month spreadsheet, I was within 3% of my number. It's possible I'll hit it this year, but even if I do, I'm not planning to OLY. No matter what happens, I think I'll work until 2020 at least. If I give myself a little extra padding, that's no bad thing.I updated our financial spreadsheet today to get a snapshot of where everything is at. With our investment gods smiling on us we topped in at 94% of our stated FIRE goal. Funny how the closer we get, the less confident I feel that it is The Number and that we know what the hell we are talking about.
You should do a drawdown analysis, @ysette9! Pick a withdrawal rate you can live on, then figure out which accounts that will be coming from and how much of that is capital gains. I did a similar exercise in my journal, and it was actually very reassuring as far as how much I'll be paying in taxes and what level of subsidies I can expect for health insurance. Most of us FIRE folk will be able to live very well while having virtually no taxable income.
Are you carrying a mortgage by chance? What is your asset allocation plan?
We plan on drawing down our taxable account first but that is all equities. I also read that drawing down cash\bonds first is the way to got for sequence of returns risk, but I don’t know how to marry these two conflicting (in our case) pieces of smart tax advice.
Post by: FireLane on July 02, 2019, 06:29:00 PM
My taxable account is all equities as well, and that's the one I plan to draw down first. I have an 80/20 stock/bond allocation, but I keep all bonds in my tax-exempt account for tax efficiency reasons.
Post by: ysette9 on July 02, 2019, 09:49:45 PM
https://earlyretirementnow.com/2017/09/13/the-ultimate-guide-to-safe-withdrawal-rates-part-19-equity-glidepaths/
I’ll have to check out your journal to see what kind of analysis you did for inspiration.
Post by: Linea_Norway on July 02, 2019, 11:13:17 PM
So what is your thought then on having some portion in cash and/or bonds for spending in a downturn, and what do you think about the idea of a reverse equity glidepath to guard against sequence of returns risk?
https://earlyretirementnow.com/2017/09/13/the-ultimate-guide-to-safe-withdrawal-rates-part-19-equity-glidepaths/
I’ll have to check out your journal to see what kind of analysis you did for inspiration.
Quite a few people on this site have 1-3 years spending budget in cash, to sit a market down period.
Post by: FIREstache on July 03, 2019, 04:59:26 AM
Indeed - I'm only around 43% equities myself as I've moved to a much more conservative AA in the last year as I approach FIRE. I had been closer to 80% prior to starting to reallocate one year ago. I'm 54 with a year to my target date and am well beyond my FIRE number, otherwise I wouldn't be playing it as conservative.
Post by: FireLane on July 03, 2019, 08:20:10 PM
For short recessions, sure, you'll be protected. But short recessions won't trouble a FIREee with 25-33x expenses saved either. The problem is if there's a recession that lasts longer. In that case, you'll exhaust your cash holdings and end up in the same boat as everyone else, having to sell stock in a down market, plus you'll have lost out on the dividends you could have earned in the meantime.
I feel the same way about reverse equity glidepaths or a 50% bond allocation. These all sound like good, conservative measures for people who plan on a standard-length retirement or something close to it. But for those of us who are planning on being retired for 40 or 50 years, the biggest danger is outliving our money.
Remember, the original Trinity Study defined "success" as "do you have at least one dollar left after 30 years of retirement". But for most FIREees, that's not going to cut it. Having a portfolio that lasts 30 years is no good if you go broke in year 31.
I'm not a portfolio-construction expert by any means, I'm just some guy on the internet. But from what I've read, stocks are the only asset class that delivers the long-term growth needed to sustain a perpetual withdrawal rate. Every dollar you hold in cash or low-yielding bonds is a dollar that isn't growing and won't be there for you years down the line. (But I've also read that an 80/20 split is an efficient frontier that offers almost as much growth potential with less volatility, which is why I hold that.)
My defensive plan is keeping to a low withdrawal rate, 3.5% or less. Even that's not an absolute bare-bones existence for me, and in a crisis, I could reduce it still further and/or seek part-time work. After the first few years of retirement, if my portfolio has grown substantially, I'll be past the worst sequence-of-returns risk period and should be able to loosen the belt a bit more.
Post by: tawyer on July 03, 2019, 09:33:36 PM
PTF and bookmark all the information here.Time for a two-years-later check-in, having been lurking for so long. We are definitely FI now, on our fairly conservative terms, but still hanging on for 2020, mainly because we haven't decided where to go next. We are considering testing out Minneapolis, Denver, Burlington, for example.
We are arguably FI now but are wanting to derisk the RE aspect by reducing our SWR because we are in our 30s. And because US healthcare. In 2020 we will both have 40 credits, so SS will in theory be adequate to support us when we get there, so if our stash runs out, that's a backup plan.
Looking forward to reading more from those on a similar timeline!
Post by: ysette9 on July 03, 2019, 09:37:37 PM
It is only one article and one study, but our blueprint comes from this article that models 60 year retirements. The goal seems to be to get through the first ten years, after which you should pretty much be home free.
https://earlyretirementnow.com/2017/09/13/the-ultimate-guide-to-safe-withdrawal-rates-part-19-equity-glidepaths/
Post by: Linea_Norway on July 04, 2019, 01:14:19 AM
Our NW is 12 mil crowns. 8 of those are in our home, 1 in our cabin, 3 in index funds and 0,2 in cash. So we are very real estate heavy on 1 single asset. Plan is to move to a 4 mil home and invest the other 4 into stocks and maybe some bonds.
Our stash doesn't have to last for 30 or 60 years. But it would be nice to have something left after the end of 21 years.
Post by: DadzillaGorilla on July 04, 2019, 01:53:11 AM
I don't hold a lot of cash (average £4k in my bank but sometimes I get hit by bills that take it down to £1k), but think cash equivalents/liquid investments are a useful part of investing, especially something like gold which is often used to hedge dips in stock prices.
If you hold cash you are essentially eroding the value of your money every year by inflation - this does not work for me.
Post by: FIREstache on July 04, 2019, 07:44:33 AM
Cash is just a another part of my non-equity allocation of my portfolio.
If you have a sizeable amount of cash, you wouldn't want to put it under your mattress or in a low interest checking or savings account. You would want to use interest earning equivalents with a high enough yield so that it keeps track with inflation (or close as possible) while getting your real earnings over the longer term from your equity investments with the reduced volatility in the overall portfolio from cash equivalents, just as you would with bonds, but a reasonable alternative in today's low interest rate environment where bonds aren't likely to perform as well as they have historically during the 30 year bond bull market.
https://portfoliocharts.com/2017/05/12/understanding-cash-will-make-you-a-better-and-happier-investor/
Post by: tawyer on July 04, 2019, 10:29:30 AM
https://portfoliocharts.com/2017/05/12/understanding-cash-will-make-you-a-better-and-happier-investor/This link is great, thanks. I think the two main points are (1) cash equivalents have low volatility and are not necessarily eroded by inflation, and (2) there is a lot of recency bias about how well certain asset classes perform.
Post by: ToughMother on July 07, 2019, 02:06:18 PM
AND THEN we found our forever house.
So, we're in the midst of buying it, then we'll put a bunch into remodeling it/making it ours, and then we'll sell our current one (right, so we're carrying two houses and remodeling). Our annual costs will go up a bit in the end, and since we're spending some of our investments on the house, it will be a double whammy of increased cost/decreased savings for the next year or so.
And that, MMMers, will push us out a few more years.
Gotta do some math and find us a new cohort. Ah well...I'll miss y'all. I've been in this cohort for a while (January 31, 2016, 12:27:03 PM), and will hang around to enjoy watching you all hit your goals starting in January. Take me off the 11/2020 timeline. Sigh. But I'll enjoy my mountain-view and walk-to-town home at that time next year.
Post by: Maenad on July 07, 2019, 05:39:44 PM
Well, we're going to need to revisit this 2020 situation. Totally on track, saving like champs.
AND THEN we found our forever house.
If it makes you happy, it's the right thing for you! There are some things for each of us that spending money on genuinely does make us happier, and if the increased happiness offsets a few more years of working, it's worth it.
Post by: Maenad on July 07, 2019, 05:48:39 PM
I'm totally proud of us, but this is unexpectedly... heavy. Like, the dream of 20 years is here, so now we need to follow through. We still need to save up some cash for some "kick-off" expenses, and if there's a recession in 2020 we'll push out our date, etc etc insert-caveats-here, but yeah. This may take a little while to sink in.
Post by: ysette9 on July 07, 2019, 06:36:07 PM
So, we just double-checked our numbers, and we hit FI just before Independence Day.Congrats!
I'm totally proud of us, but this is unexpectedly... heavy. Like, the dream of 20 years is here, so now we need to follow through. We still need to save up some cash for some "kick-off" expenses, and if there's a recession in 2020 we'll push out our date, etc etc insert-caveats-here, but yeah. This may take a little while to sink in.
Post by: Linea_Norway on July 07, 2019, 11:21:34 PM
07/2020 2sk22
??/2020? Alienbogey
??/2020 apurplelife
04-05/2020 aspiringnomad (@37)
08/2020 Bateaux
03-04+2/2020 Beeboy (@46)
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
03/2020 FInding_peace (@38)
??/2020 FIREby2021
??/2020 FireLane (@38)
??/2020 FIREstache (@55)
??/2020 Freedomin5 (@38)
??/202? Gumption
04/2020 Itchyfeet
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
05/2020 Lady Stash
05/2020 Life in Balance
02/2020 Linea_Norway (@46)
07-12/2020 MMM123
10/2020 Maenad
11/2020 meatgrinder
12/2020 MoneyTree (@36)
05/2020 Much fishing to do
12/2020 Nora
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
04/2020 Pennycounter
03/2020 rab-bit (@58)
05/2020 Rcc
04-12/2020 robtown
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
??/2020 tooqk4u22
05-06/2020 Unique User
12/2020 ysette9 (@38)
OLY:
2Birds1Stone
OMY:
RedefinedHappiness
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Linea_Norway on July 07, 2019, 11:22:51 PM
Well, we're going to need to revisit this 2020 situation. Totally on track, saving like champs.
AND THEN we found our forever house.
So, we're in the midst of buying it, then we'll put a bunch into remodeling it/making it ours, and then we'll sell our current one (right, so we're carrying two houses and remodeling). Our annual costs will go up a bit in the end, and since we're spending some of our investments on the house, it will be a double whammy of increased cost/decreased savings for the next year or so.
And that, MMMers, will push us out a few more years.
Gotta do some math and find us a new cohort. Ah well...I'll miss y'all. I've been in this cohort for a while (January 31, 2016, 12:27:03 PM), and will hang around to enjoy watching you all hit your goals starting in January. Take me off the 11/2020 timeline. Sigh. But I'll enjoy my mountain-view and walk-to-town home at that time next year.
Congrats on finding your forever home. It must feel good to know that for sure. Walking distance to town sounds very good.
Post by: Farmgirl on July 09, 2019, 09:41:15 AM
After a stress test this morning with glow-in-the-dark juice, I am considering pulling the plug earlier though. Medical things certainly have a way of making you look at your situation differently. DH wants me to walk out the door now, but I just can't do it. So I'm looking at a compromise situation of giving notice in January 2020 with several months to recruit and train my replacement. DH says "If they wanted YOU out the door, you would get no notice whatsoever."
He has a good point, because I've seen it done to two people here during my tenure. But as Woody Allen stated, "I'd like to be well thought of."
So I'm doing my time right now, but knowing I can leave at any point is comforting. Not changing my date here yet. But it could happen!
Post by: markbike528CBX on July 09, 2019, 10:25:54 AM
I don't check in often, but thought I would today. My countdown clock hit 450 days till my date of 10/2020.
After a stress test this morning with glow-in-the-dark juice, I am considering pulling the plug earlier though. Medical things certainly have a way of making you look at your situation differently. DH wants me to walk out the door now, but I just can't do it. So I'm looking at a compromise situation of giving notice in January 2020 with several months to recruit and train my replacement. DH says "If they wanted YOU out the door, you would get no notice whatsoever."
He has a good point, because I've seen it done to two people here during my tenure. But as Woody Allen stated, "I'd like to be well thought of."
So I'm doing my time right now, but knowing I can leave at any point is comforting. Not changing my date here yet. But it could happen!
A week after you leave, you won't be thought of at all. Is 450 days worth it?
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
Edit to ad link to thread.
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/
Post by: rab-bit on July 09, 2019, 11:17:58 AM
Our retirement plans are really starting to take shape!Exciting times!
- We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
- Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
- I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
Some updates:
- Rental #3 renovation is complete and we have found tenants. We'll be meeting with them to get the deposit to hold tomorrow.
- We closed on the new condo retirement home on 7/1 and will be starting renovations on that as soon as I get past some work deadlines in the next few weeks. We will also be getting our current home ready to list for sale.
- I'm afraid that the downshift work possibilities may not materialize. One is almost certainly dead, and I need to follow up on the other one.
- It's looking more and more like there may be a buyout offer at my company around September. If so, I would probably take it.
Post by: Farmgirl on July 09, 2019, 11:35:43 AM
Post by: Lews Therin on July 09, 2019, 11:45:44 AM
What a waste of effort for them to know in advance.
Post by: Linea_Norway on July 09, 2019, 02:28:55 PM
I don't check in often, but thought I would today. My countdown clock hit 450 days till my date of 10/2020.
After a stress test this morning with glow-in-the-dark juice, I am considering pulling the plug earlier though. Medical things certainly have a way of making you look at your situation differently. DH wants me to walk out the door now, but I just can't do it. So I'm looking at a compromise situation of giving notice in January 2020 with several months to recruit and train my replacement. DH says "If they wanted YOU out the door, you would get no notice whatsoever."
He has a good point, because I've seen it done to two people here during my tenure. But as Woody Allen stated, "I'd like to be well thought of."
So I'm doing my time right now, but knowing I can leave at any point is comforting. Not changing my date here yet. But it could happen!
A week after you leave, you won't be thought of at all. Is 450 days worth it?
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
Edit to ad link to thread.
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/
+1.
Can you find another, less stessful job to fill the time until you can afford to FIRE? No job is worth your health.
I am also a person who is easily stressed. I am therefore working 80%, despite the cost for it. My health is more important.
Post by: FIREstache on July 09, 2019, 03:28:34 PM
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
I don't want to give long notice for the exact opposite reason. The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is. I have a lot of unique technical job functions that no one else knows how to do. Once I give notice, it will put those same ideas of his on steroids. He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office. Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.
Post by: Much Fishing to Do on July 10, 2019, 02:08:55 PM
Post by: markbike528CBX on July 10, 2019, 04:22:59 PM
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
I don't want to give long notice for the exact opposite reason. The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is. I have a lot of unique technical job functions that no one else knows how to do. Once I give notice, it will put those same ideas of his on steroids. He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office. Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.
Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.
Post by: markbike528CBX on July 10, 2019, 06:01:02 PM
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
I don't want to give long notice for the exact opposite reason. The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is. I have a lot of unique technical job functions that no one else knows how to do. Once I give notice, it will put those same ideas of his on steroids. He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office. Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.
Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.
Ha, I haven't taken more than 2 consecutive days of vacation in a week in a few years. And sometimes they can't even get by that long without calling me or without me getting some automated alert that I need to take care of something at work. There's definitely some knowledge transfer to take place, but I rather minimize the time I spend doing it and leave it until the last month or two. I might be willing to stay on part time or an as-needed basis for a while - I'll wait and see how I feel about that when the time comes.
I can't say no to them moving someone else into my office space to work with me, if that's what they choose. And I wouldn't want to burn any bridges or leave on bad terms after being there for about 20 years by refusing to do what they request in those final weeks. I think I can tolerate a month or two of that with vacation days mixed in, so that's when I would time my notice.
Respectfully, sounds like Stockholm Syndrome.
You are making their problem your problem.
If you've been there 20 years, there should already be someone with 10+ years who could step up. Anything else is a big management fail, unless you've been aggressively hoarding info and techniques..
What if you were hit by the incoming asteroid?
Post by: markbike528CBX on July 10, 2019, 09:04:39 PM
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
I don't want to give long notice for the exact opposite reason. The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is. I have a lot of unique technical job functions that no one else knows how to do. Once I give notice, it will put those same ideas of his on steroids. He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office. Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.
Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.
Ha, I haven't taken more than 2 consecutive days of vacation in a week in a few years. And sometimes they can't even get by that long without calling me or without me getting some automated alert that I need to take care of something at work. There's definitely some knowledge transfer to take place, but I rather minimize the time I spend doing it and leave it until the last month or two. I might be willing to stay on part time or an as-needed basis for a while - I'll wait and see how I feel about that when the time comes.
I can't say no to them moving someone else into my office space to work with me, if that's what they choose. And I wouldn't want to burn any bridges or leave on bad terms after being there for about 20 years by refusing to do what they request in those final weeks. I think I can tolerate a month or two of that with vacation days mixed in, so that's when I would time my notice.
Respectfully, sounds like Stockholm Syndrome.
You are making their problem your problem.
If you've been there 20 years, there should already be someone with 10+ years who could step up. Anything else is a big management fail, unless you've been aggressively hoarding info and techniques..
What if you were hit by the incoming asteroid?
Actually, I'm not making it my problem - just the opposite! I said I would give just one or two months notice for my own benefit, not the long notice that you were referring to - which was NEVER part of my plan because I know the negative fallout from a long notice. One month notice and part of another month of vacation days is pretty mild to help train someone. And it's actually a very common thing for people to do when someone is leaving a company, so I'm not sure why you call that Stockholm Syndrome. But sorry, I have no intentions of giving any longer of a notice.
No, there is no one else with my job title and job description, so there is very limited overlap with anyone else's duties, and I do many unique things due to my job and skills, some are very occasional, some more regularly. It's not hoarding or being aggressive when you're simply doing your job, that is yours alone, and not something anyone shares in those job duties with you. People are busy with their own jobs - they do what they're supposed to be doing, not spending their time coming down to my office asking me how I do mine, and I wouldn't want them to take time away from me getting work done in order to train them on things they won't do (and will only disrupt their own work) until I'm about ready to leave/retire, at which point, I will provide sufficient training over a month or two. It's that's easy.
I've never known anyone to get hit by an asteroid, so they probably consider that a low risk. They can't afford another one of me. At one point, they tried that, but the "experienced and skilled" new guy wasn't nearly as productive, seemed to lack motivation and energy, and it cut my productivity in helping/training him over about two years, so when there were some company cutbacks, they eliminated his position, so I've been the only one in my position for the last couple years, which has been fine by me, because I get more done now.
The word was "unless", so it seems like a management fail, not you.
The direction I was going was for less than a month, and not feeling any need for "willing to stay on part time or an as-needed basis for a while".
It is unlikely that anything you do or don't do between notice and "out-the-door" will make any difference on how you are perceived on day one after "out-the-door".
"more than 2 consecutive days of vacation in a week in a few years. And sometimes they can't even get by that long without calling me" --- sounds like kidnapping/abuse to me, which is a basis for the Stockholm idea. Being needed that badly is an ego boost.
Sorry if I seem harsh, but that's how I see it. My wording probably could be better.
Post by: Linea_Norway on July 10, 2019, 10:51:03 PM
If you look at various threads where people gave extra long notices, management just ignored the notice, never recruited anyone,and/or left no time for training the replacement, and then acted surprised when the retirement happened anyway.
I don't want to give long notice for the exact opposite reason. The exec that I work under is always wanting me to document things to a ridiculous degree with screenshots, and he is always talking about cross coverage among staff and such as it is. I have a lot of unique technical job functions that no one else knows how to do. Once I give notice, it will put those same ideas of his on steroids. He'll bring up everything I do asking for documentation and possibly even have someone start working with me in my office. Argh, that's something I want to minimize, so I am thinking more like one month notice, maybe two since I'll be taking vacation days in there as well.
Mmmmm. Just say no?
At the most, do YOUR job to YOUR satisfaction, nothing more.
If you are allowed to take vacation, that means they can get along without you.
Ha, I haven't taken more than 2 consecutive days of vacation in a week in a few years. And sometimes they can't even get by that long without calling me or without me getting some automated alert that I need to take care of something at work. There's definitely some knowledge transfer to take place, but I rather minimize the time I spend doing it and leave it until the last month or two. I might be willing to stay on part time or an as-needed basis for a while - I'll wait and see how I feel about that when the time comes.
I can't say no to them moving someone else into my office space to work with me, if that's what they choose. And I wouldn't want to burn any bridges or leave on bad terms after being there for about 20 years by refusing to do what they request in those final weeks. I think I can tolerate a month or two of that with vacation days mixed in, so that's when I would time my notice.
Respectfully, sounds like Stockholm Syndrome.
You are making their problem your problem.
If you've been there 20 years, there should already be someone with 10+ years who could step up. Anything else is a big management fail, unless you've been aggressively hoarding info and techniques..
What if you were hit by the incoming asteroid?
Actually, I'm not making it my problem - just the opposite! I said I would give just one or two months notice for my own benefit, not the long notice that you were referring to - which was NEVER part of my plan because I know the negative fallout from a long notice. One month notice and part of another month of vacation days is pretty mild to help train someone. And it's actually a very common thing for people to do when someone is leaving a company, so I'm not sure why you call that Stockholm Syndrome. But sorry, I have no intentions of giving any longer of a notice.
No, there is no one else with my job title and job description, so there is very limited overlap with anyone else's duties, and I do many unique things due to my job and skills, some are very occasional, some more regularly. It's not hoarding or being aggressive when you're simply doing your job, that is yours alone, and not something anyone shares in those job duties with you. People are busy with their own jobs - they do what they're supposed to be doing, not spending their time coming down to my office asking me how I do mine, and I wouldn't want them to take time away from me getting work done in order to train them on things they won't do (and will only disrupt their own work) until I'm about ready to leave/retire, at which point, I will provide sufficient training over a month or two. It's that's easy.
I've never known anyone to get hit by an asteroid, so they probably consider that a low risk. They can't afford another one of me. At one point, they tried that, but the "experienced and skilled" new guy wasn't nearly as productive, seemed to lack motivation and energy, and it cut my productivity in helping/training him over about two years, so when there were some company cutbacks, they eliminated his position, so I've been the only one in my position for the last couple years, which has been fine by me, because I get more done now.
The word was "unless", so it seems like a management fail, not you.
The direction I was going was for less than a month, and not feeling any need for "willing to stay on part time or an as-needed basis for a while".
It is unlikely that anything you do or don't do between notice and "out-the-door" will make any difference on how you are perceived on day one after "out-the-door".
"more than 2 consecutive days of vacation in a week in a few years. And sometimes they can't even get by that long without calling me" --- sounds like kidnapping/abuse to me, which is a basis for the Stockholm idea. Being needed that badly is an ego boost.
Sorry if I seem harsh, but that's how I see it. My wording probably could be better.
If the company already calls you on your occasional vacation days, they will probably also call you constantly after FIRE, if you keep a connection with them.
I think you should spend some of your remaining time before notice to document some critical parts that a person with your experince needs to figure the job out. And then give a shortish notice. You find 2 weeks to short and are almost talking about 2 months now. I wouldn't make it more than a month in your case. Your boss has let this go on for years and it is a distaster waiting to happen.
Post by: 2sk22 on July 12, 2019, 06:51:57 AM
I've already made a good start in getting my finances tidied up. Disposed some granted stock and moved it to index funds. Getting wills and directives cleaned up. Mood has really improved :-)
Post by: Farmgirl on July 12, 2019, 06:59:02 AM
Post by: itchyfeet on July 13, 2019, 10:48:20 AM
Post by: FIREstache on July 13, 2019, 10:56:07 AM
That would drop to 2.1% WR when SS kicks in after 10 years and factoring in higher Medicare costs, same $26K/yr discretionary.
The promised SS benefit will pay for about everything but my discretionary spending.
$26K/yr discretionary far exceeds what I've ever spent on discretionary expenses in any year of my life, so it doesn't seem likely that I'll spend nearly that much unless I do a lot of traveling, which I haven't done much of during my working life, so I suspect I'll actually spend less than 3.4%, but that's what I'm allowing in my budget for now.
Edit: I may end up relocating within the first couple years of FIRE, and I'm already living in a LCOL area, but I'm hoping that I'll be able to maintain the same WR, even if I might have to cut back on discretionary spending. If I'm lucky, I'll even come out ahead.
Post by: 2sk22 on July 18, 2019, 03:30:32 PM
My plan was to stick it out for a few more months in my exceedingly boring (but very well paying) job for a few more months and then call it quits in December or early next year.
Unexpectedly, I got a call from an old friend who is a founder in a well funded tech startup. Not only did he make an offer exceeding what I make now but I pretty much get to do whatever I want in addition to mentoring the younger employees.
So with great happiness, I just quit from the big company and accepted the offer. If the startup survives the year, great. If not, no problem. I'm well past FI so this stint will be a nice cap to my career.
With luck, I may get to "leave on a high note" (thinking of George Costanza from Seinfeld https://youtu.be/O27RzZEOkeA (https://youtu.be/O27RzZEOkeA)) :-)
Post by: ysette9 on July 18, 2019, 04:39:51 PM
So some interesting things happened in the past 24 hours :-)Cool! Have fun
My plan was to stick it out for a few more months in my exceedingly boring (but very well paying) job for a few more months and then call it quits in December or early next year.
Unexpectedly, I got a call from an old friend who is a founder in a well funded tech startup. Not only did he make an offer exceeding what I make now but I pretty much get to do whatever I want in addition to mentoring the younger employees.
So with great happiness, I just quit from the big company and accepted the offer. If the startup survives the year, great. If not, no problem. I'm well past FI so this stint will be a nice cap to my career.
With luck, I may get to "leave on a high note" (thinking of George Costanza from Seinfeld https://youtu.be/O27RzZEOkeA (https://youtu.be/O27RzZEOkeA)) :-)
Post by: alienbogey on July 21, 2019, 09:46:34 AM
DW and I are FI right now and could tell the company that I work for & despise to go take a long walk off a short pier. On the other hand, I still like the job (used to love it, but the heartless/soulless megacorp has sucked
Furthermore, our two adult kids still require some financial assistance (not something I want to get into on this thread and, hopefully, both cases should be resolved by year end). Fat paychecks make that easier to deal with.
Our plan as been to make it to 11/20 which will mark a significant pension goalpost, then cut back to about half a work schedule, see if I like it, and continue month to month until I can't stand it anymore. DW has already pushed back her quitting date to from 5/19 to 11/19, and we'll see if she follows through.
By every calculation I can find we could both quit yesterday, so I guess we're just piling it higher and deeper at this point. But, there are still aspects of the job that I like.
Maybe more dithering would help.
Post by: ScreamingHeadGuy on July 21, 2019, 07:02:18 PM
...By every calculation I can find we could both quit yesterday, so I guess we're just piling it higher and deeper at this point. But, there are still aspects of the job that I like.
Maybe more dithering would help.
I understand you. The math states what it states, yet the math doesn’t control the heart. Since the math has worked itself out I find myself focusing (or trying to) on the non-fiscal side of life, so as to get that in order for my RE. Sometimes I can’t shake the feeling that I’m planning to jump out of a fully functioning airplane just to prove I have a parachute. So dither on, man - dither on.
Post by: AO1FireTo on July 21, 2019, 08:15:13 PM
...By every calculation I can find we could both quit yesterday, so I guess we're just piling it higher and deeper at this point. But, there are still aspects of the job that I like.
Maybe more dithering would help.
I understand you. The math states what it states, yet the math doesn’t control the heart. Since the math has worked itself out I find myself focusing (or trying to) on the non-fiscal side of life, so as to get that in order for my RE. Sometimes I can’t shake the feeling that I’m planning to jump out of a fully functioning airplane just to prove I have a parachute. So dither on, man - dither on.
Haha love that analogy, that sums up my feelings on FIRE as well. Just have to make sure we test the parachute enough I guess :)
Post by: Lady Stash on July 22, 2019, 07:14:21 PM
I am exploring quitting my job in May 2020 to pursue side projects (TBD) &/or take some career risks. I'll be 45.
My home is paid for and the stash as of today would provide around 28K/year at a 4% withdrawal rate. By April '20, I'll hopefully have added another 40K via a backdoor Roth so ideally that number will be 30K/year, if the markets hold onto their recent gains.
My home has 4 bedrooms and I have a couple roommates moving in Aug 1st which adds about 25K/year.
My tentative plan is to have a side gig and roommates cover most-to-all of my expenses and leave the stash to grow some more. Then in 5-10 years if I no longer want roommates or want to lose the side gig or health care expenses start to bite, I'll have options.
It feels a bit risky to me - what if ACA goes away, or rents go down or the market tanks over the next 10 years… so I may end up OMY or 2 more years or 5 more years.
But right now the tentative plan is to pull the cord in May 2020.
Post by: Farmgirl on July 23, 2019, 07:09:05 AM
Post by: Linea_Norway on July 23, 2019, 07:28:58 AM
Post by: nora on July 24, 2019, 03:19:42 AM
Post by: 2Birds1Stone on July 26, 2019, 07:40:33 AM
Post by: Farmgirl on July 26, 2019, 08:03:46 AM
My date may be moving up!
This sounds silly, but I'm really excited to go to the Social Security office!
Post by: Life in Balance on July 26, 2019, 08:32:07 AM
Post by: Linea_Norway on July 26, 2019, 10:54:34 AM
Guess who's back, back again.
Welcome back. Did something happen or do you just generally want some more cushioning?
Post by: Body Surfer on July 26, 2019, 04:41:36 PM
Post by: Bateaux on July 26, 2019, 07:45:17 PM
Now at 94%. Spitting distance 😁
We were at 100% then the downturn of 2018 hit and we dropped to 85%. I moved the goal posts out further after that. Now were almost 90% of the new number and 108% of the old number.
Post by: exit2019 on July 28, 2019, 01:06:04 PM
Post by: markbike528CBX on July 28, 2019, 07:49:52 PM
As the OP of the 2019, I have no conflict of interest :-)
Post by: Trifle on July 29, 2019, 08:45:22 AM
I’d bail NOW.
As the OP of the 2019, I have no conflict of interest :-)
The OP of 2019, who bailed early and FIREd in 2018. ;)
Yes -- definitely bail now @exit2019! Look at your name ferpetesake
Post by: firebrand on August 01, 2019, 06:28:46 AM
If I'm patient, my fire date is December 31, 2020
If I'm impatient, my fire date is May something 2020
Happy to be a member of this class!
Post by: 2Birds1Stone on August 01, 2019, 09:11:35 AM
Welcome back. Did something happen or do you just generally want some more cushioning?
Working through March would allow us to increase portfolio by ~8-10%, and get through the boring winter months with something to do. Can't really depart for our trip till then anyway, I still may end up in the 2019 cohort if work sucks/get fired.
Post by: Maenad on August 01, 2019, 10:15:34 AM
Post by: exit2019 on August 01, 2019, 10:58:24 AM
I’d bail NOW.
As the OP of the 2019, I have no conflict of interest :-)
I understand that impulse, :-) I thought we were there in 2/2019, but basically my wife and I are not quite where we need to be. We will be by spring. I've already resigned; this year was a one year stay-for-pay.
Post by: FIREby2021 on August 01, 2019, 11:24:55 AM
July Highlights:
- Another good month of meeting our saving and giving goals ... we went ahead and booked some international airfares for a 2020 trip we'll be taking, so next month will see a bit of a dip to pay that off. Overall we made minor progress up this month. Given I take the snapshot on the first day of each month, yesterday's market decline kept us officially below the 90% progress marker toward our ultimate goal. I was thinking we'd hit that today, but no such luck. Onward!!
- After some fun vacation time in June, I still managed to minimize my office time during July due to my 2 weeks of remote work while supporting my aging parents out-of-state. That was time well-spent, and I felt overall like I was really productive this month @ work, both in and out of office. Good balance, which I'm thankful for.
- Travel: Both August and September will include international work trips to break up the routine, and September will feature a vacation with friends to our future FIRE location! Hopefully by then it starts to cool off down here, as the summer starts to dissipate. We are currently in the general mode of saying "YES" to everything that comes our way when it comes to time with friends, trips and opportunities, etc. This is really helping ensure we balance making the most of TODAY while looking forward to the FUTURE.
- As of today, our NW provides the following: a paid-off FIRE home, fully-funded FIRE lump sums (giving, renovation budget, new car) and a WR of 4.40% based on our projected annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.).
- Countdown: Assuming monthly progress on par with our historic averages, we should reach our ultimate WR goal of 3.75% by Q4-2020, but who knows what lies ahead. My whiteboard countdown tracker now shows 19 months to reach our most-likely FIRE target timing of Q1-2021.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sums funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
JUN 2019 89.3%
JUL 2019 89.6%
Have a great August!
FIREby2021
Post by: Linea_Norway on August 02, 2019, 12:26:06 PM
04/2020 2Birds1Stone
07/2020 2sk22
??/2020? Alienbogey
??/2020 apurplelife
04-05/2020 aspiringnomad (@37)
08/2020 Bateaux
03-04+2/2020 Beeboy (@46)
12/2020 BFGirl
??/2020 BlueMR2
??/2020 catccc
03/2020 CrazyIT
??/2020 DadzillaGorilla (FI@35, RE@40)
12/2020 david_shin
12/202? desk_jockey
04/2020 DreamFIRE
??/2020 EscapeVelocity2020
04/2020 Exit2019
10/2020 Farmgirl
03/2020 FInding_peace (@38)
05-12/2020 firebrand
??/2020 FIREby2021
07/2020 FireLane (@38)
??/2020 FIREstache (@55)
??/2020 Freedomin5 (@38)
??/202? Gumption
04/2020 Itchyfeet
06/2020 ixtap (date uncertain)
??/2020 letsdoit
??/2020 LadyMaWhiskers
05/2020 Lady Stash
01/2020 Linea_Norway (@46)
07-12/2020 MMM123
10/2020 Maenad
12/2020 MoneyTree (@36)
05/2020 Much fishing to do
12/2020 Nora
01/2020 Now-non (or earlier, in 2019)
??/2020 onlykelsey
03-04/2020 Padonak
04/2020 Pennycounter
03/2020 rab-bit (@58)
05/2020 Rcc
04-12/2020 robtown
10/2020 Rubyvroom
12/2020 Sand101
03/2020 TheContinaltalOp
12/2020 TheFIExplorer
??/2020 tooqk4u22
07/2020 Unique User
12/2020 ysette9 (@38)
OLY:
meatgrinder
Life in balance (end of 2019)
OMY:
RedefinedHappiness
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Padonak on August 02, 2019, 12:26:57 PM
I am joining the cohort. The final date is not set in stone yet, but should be around March-April 2020. Will post more details later.
Post by: Linea_Norway on August 02, 2019, 12:27:36 PM
Hello class of 2020.
If I'm patient, my fire date is December 31, 2020
If I'm impatient, my fire date is May something 2020
Happy to be a member of this class!
Welcome to the group that will FIRE next year!
Post by: Linea_Norway on August 02, 2019, 12:29:34 PM
Finally found this thread, better late than never.
I am joining the cohort. The final date is not set in stone yet, but should be around March-April 2020. Will post more details later.
Also welcome. Next year is approaching fast.
Post by: FireLane on August 05, 2019, 09:03:47 AM
As I wrote in my journal (https://forum.mrmoneymustache.com/journals/maybe-we'll-make-it-after-all/msg2427505/#msg2427505) last week, we're enrolling Little FL in a preschool program that starts in September and runs through June. Since I don't want to pay for child care out of my investments, it makes sense to work at least that long. When he turns 4 next fall, we can start him in free pre-K.
Post by: Linea_Norway on August 05, 2019, 09:14:03 AM
You can put me down for July 2020 as my RE date. That may change if the market crashes, but it's good to plant my stake in the ground and have a target to aim for.
As I wrote in my journal (https://forum.mrmoneymustache.com/journals/maybe-we'll-make-it-after-all/msg2427505/#msg2427505) last week, we're enrolling Little FL in a preschool program that starts in September and runs through June. Since I don't want to pay for child care out of my investments, it makes sense to work at least that long. When he turns 4 next fall, we can start him in free pre-K.
Done.
Yes, our FIRE year is around the corner and planning a date is a good idea.
I need to give my notice at the end of October to make my date in first of Feb. That is coming pretty soon.
Post by: Linea_Norway on August 13, 2019, 05:46:57 AM
My DH has started to listen to FIRE podcasts (finally) and he is getting interested in investment strategies, which I am not interested in. One podcast was about a couple who had 13 mil $ in the stock market ans lost 75% of it overnight.
DH is thinking the following about our future investment:
- We will use up our stash in the next 20 years, until we can live off our traditional retirement funds, that was the plan all along.
- It is more important for us to not loose that money in a big stock market crash, than reaching a 4% profit per year.
- Therefore we should not keep 100% of our stash in stock, but rather 60/40 or 70/30 or some other number.
- When the stock market gets a really big crash, you want to have cash available to buy more at a low price.
- When the stock market gets a really big crash, you want to have cash available life off, so you don't need to sell at low price.
- When the stock market is really high, we could take out our profit, to make sure we use the high rate.
So we are currently thinking about keeping like 2 years of spending outside the stock market to make sure to survive a dip. Plus en extra x sum (not decided how much) to buy new stock.
When we sell our home and reserve 50% of that sum to buy another home at some later time (1-3 years), that money should be put on a savings account, not in the stock market.
I am back from work now after a 4 week summer vacation. Even those 2 days at work already confirm that working towards FIRE is the right choice for me. I am so much looking foreward to it...
Post by: 2sk22 on August 13, 2019, 07:22:46 AM
- Therefore we should not keep 100% of our stash in stock, but rather 60/40 or 70/30 or some other number.
Not all assets need to be diversified the same way. I categorize our savings into several "buckets" in my mind:
- Post-tax savings: Split 55/45 stock/(bonds&cash)
- Pre-tax (401K and IRAs) savings : Split 60/40 (stock/bonds)
- Pensions & social security
- Home
Compared to many, our stock exposure is a bit lower but its what helps us sleep comfortably :-)
Post by: 2Birds1Stone on August 13, 2019, 07:24:21 AM
A reverse equity glide-path has been shown to reduce SORR and provide a more stable portfolio for an early retiree.
Both ERN (https://earlyretirementnow.com/) and Michael McClungs book "Living Off Your Money" (https://www.amazon.com/Living-Off-Your-Money-Retirement/dp/0997403403) do a great job at explaining the how and why of this approach.
Starting with a 60/40 portfolio and spending down the bond portion, while also having other safety nets in place is a prudent approach. It might not be mathematically perfect, but due to the lowered volatility during the beginning of your early retirement, it's easier to STICK TO THE PLAN.
Post by: 2Birds1Stone on August 13, 2019, 07:31:07 AM
https://earlyretirementnow.com/2019/07/31/rising-equity-glidepath-4-percent-safe-withdrawal-rate-60-year-retirement/#more-40913
Post by: Linea_Norway on August 14, 2019, 12:10:10 AM
Tickle me pink, his latest post is a must read for you.
https://earlyretirementnow.com/2019/07/31/rising-equity-glidepath-4-percent-safe-withdrawal-rate-60-year-retirement/#more-40913
I skimmed through it. He mentions that early retirees with a 60 year retirement horizon are fundamentally different from traditional retirees with a 30 year retirement horizon. Therefore they should invest in another way.
But on our personal case, we are much more like traditional retirees, in the sense that we have to bridge 20 years and our stash may end up in 0. So this rising equity path is probably not so relevant for us. Probably rather the normal thing with replacing more and more stocks with bonds.
Post by: Linea_Norway on August 21, 2019, 03:01:00 AM
Post by: 2Birds1Stone on August 21, 2019, 03:42:16 AM
So I'll be the first to FIRE in 2010 officially. :-)))
A very belated congratulations!
Post by: Linea_Norway on August 21, 2019, 06:04:55 AM
So I'll be the first to FIRE in 2010 officially. :-)))
A very belated congratulations!
Thanks. I meant of course 2020. Spelling is sometimes difficult.
Post by: rab-bit on August 21, 2019, 07:30:41 AM
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))
Congratulations, @Linea_Norway!
Post by: Life in Balance on August 21, 2019, 07:53:13 AM
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))
So happy for you. Congratulations!
Post by: tampaite on August 21, 2019, 12:31:09 PM
// FI target defined as 3.75% SWR, mortgage-free + giving/lump sums funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
JUN 2019 89.3%
JUL 2019 89.6%
Have a great August!
FIREby2021
Just a suggestion. Are you able to post the data in below format? Often times, I have to dig up through old posts and rehash the #s to determine what does 89.0% means.
If you are not inclined that's fine. However, if you like to incorporate, you need to copy the below table and paste it in your reply and then update it before you post. See attachment for the HTML snippet.
<!-- FIRE goal = $1M , withdrawal rate = 4%, annual expense = $40k, annual expense target = 25x -->
| Month | Percentage | Total Accumulated | Annual Expense Target |
| July 2009 | 20% | 200K | 5x |
| Aug 2009 | 23% | 230K | 5x |
| Sep 2009 | 24% | 240K | 6x |
Post by: Linea_Norway on August 26, 2019, 12:29:26 AM
Post by: 2sk22 on August 26, 2019, 02:45:32 AM
Post by: Linea_Norway on August 26, 2019, 04:44:17 AM
A quick update from me - I still think I'll be able to avoid the OMY syndrome and stick to my goal of retiring by 2020.
Very good.
OMY isn't so bad, as one year really isn't that long. But we should try to avoid to OMY several times. Doing a OMY should normally provide enough additional cushioning if you were close to FIRE the year before.
Post by: LostGirl on August 27, 2019, 10:05:20 AM
Yesterday we decided to quit a month earlier, but with the final day still i January, maybe the first or the second. But I will probably take free from before Christmas. So I'll be the first to FIRE in 2020 officially. :-)))
Congrats!!! It only makes sense that you lead us off since you've been the most active in this thread for a while. :)
Post by: Unique User on September 06, 2019, 02:27:48 PM
Post by: Life in Balance on September 06, 2019, 05:50:17 PM
Post by: Linea_Norway on September 06, 2019, 11:59:54 PM
Last night I couldn't sleep as I was worrying. I feel terribly guilty towards my coworkers that I will give notice at the end of the month. They will be in some trouble without me. I see that many of them are having a really hard time and are very stressed. Of course this is not my personal responsibility, but the company's that squeezes people until there is not a drop of energy left in them.
As mentioned earlier, my notice period is 3 months, as defined in my contract. But any replacement my boss could hire would also have that. So there is likely to be a gap. Still not my personal problem, but I feel bad for it.
Post by: Trifle on September 07, 2019, 02:40:16 AM
I am rather unexpectedly moving my date up to the end of this year for health reasons. Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals. Call it a leap of faith.
Feel free to come on over to the 2019 FIRE cohort thread @Life in Balance. We'll catch you and celebrate with you!
Post by: Life in Balance on September 07, 2019, 06:23:55 AM
Good for you, @Life in Balance
Last night I couldn't sleep as I was worrying. I feel terribly guilty towards my coworkers that I will give notice at the end of the month. They will be in some trouble without me. I see that many of them are having a really hard time and are very stressed. Of course this is not my personal responsibility, but the company's that squeezes people until there is not a drop of energy left in them.
As mentioned earlier, my notice period is 3 months, as defined in my contract. But any replacement my boss could hire would also have that. So there is likely to be a gap. Still not my personal problem, but I feel bad for it.
Thanks, I'm hoping it goes well. Like you, I have a long notice period. I talked to my supervisor yesterday and then started telling colleagues. There were tears, and I feel badly about causing them stress when everyone is already stretched so thin. Everyone also said though that I needed to do what's best for me and it helped that everyone was so understanding.
Post by: Life in Balance on September 07, 2019, 06:26:45 AM
I am rather unexpectedly moving my date up to the end of this year for health reasons. Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals. Call it a leap of faith.
Feel free to come on over to the 2019 FIRE cohort thread @Life in Balance. We'll catch you and celebrate with you!
Thanks, @Trifele. I have to say that I feel a bit like a 2019 faker as I will ultimately be looking for PT work since I'm not at my number. But a few years off to regain health and perspective (and to see how the markets perform) are desperately needed, so 2019 it is. :)
Post by: Trifle on September 07, 2019, 08:52:02 AM
I am rather unexpectedly moving my date up to the end of this year for health reasons. Reading about the effects of stress and burnout on the posters' health in various threads convinced me I needed to be proactive about recovering my health, even if I'm not quite at my stash goals. Call it a leap of faith.
Feel free to come on over to the 2019 FIRE cohort thread @Life in Balance. We'll catch you and celebrate with you!
Thanks, @Trifele. I have to say that I feel a bit like a 2019 faker as I will ultimately be looking for PT work since I'm not at my number. But a few years off to regain health and perspective (and to see how the markets perform) are desperately needed, so 2019 it is. :)
You're not a faker! I've lost track of everything people are up to in our cohort . . . there are side gigs and part time stuff all over the place among the 'FIREd' folks. I think it's all about celebrating a major transition.
Post by: ysette9 on September 07, 2019, 12:42:40 PM
Post by: Linea_Norway on September 07, 2019, 12:48:28 PM
So, holy shit. I updated our spreadsheet yesterday and we are 97% of our goal. That is so close it feels unreal.
Congrats.
And we are working our asses of to get the highest possible price for our home. In best case we end up with 12% above our goal. But in worse case we don't reach our goal at all. Exciting times at least...
Post by: Linea_Norway on September 09, 2019, 12:58:31 AM
Of course I am still cutting 20% off my own salary by working only 80%. But I still like the 80% to pay as much as possible.
I should probably feel even more guilty towards my employer for pulling the plug. On the other hand, it is just a game, isn't it. If I quit, I open up a position for another motivated person.
Post by: 2sk22 on September 09, 2019, 05:34:02 AM
Today I finally received notice about my salary increase, that will count from May. We always get to hear the total yearly new salary. I would like the %, to find out how much they appreciate me. So I first need to find out last years' salary and calculate the % of the increase. This year it turned out to be 3,5%. That is the highest I have received in the 5 years that I work here. Maybe it helped that during the last performance meeting I mentioned that I was disappointed with my salary increase last year. Apparently there is always very little to give in general.
Of course I am still cutting 20% off my own salary by working only 80%. But I still like the 80% to pay as much as possible.
I should probably feel even more guilty towards my employer for pulling the plug. On the other hand, it is just a game, isn't it. If I quit, I open up a position for another motivated person.
I recall an awkward conversation many years ago - my boss gave me a hefty raise and I had to tell him that I was quitting :-)
Post by: CrazyIT on September 09, 2019, 09:01:14 AM
I excused myself form the 2021 FIRE Cohort and am joining this one. Had a talk with myself and decided to stop the OMY thing so hold me accountable.
FIRE Date: March 6th 2020
179 days but only 134 working day (minus vacation and Holidays)
25 Mondays
Not that I am keeping track or anything. lol
Post by: ysette9 on September 09, 2019, 09:52:26 AM
Hi,Welcome!
I excused myself form the 2021 FIRE Cohort and am joining this one. Had a talk with myself and decided to stop the OMY thing so hold me accountable.
FIRE Date: March 6th 2020
179 days but only 134 working day (minus vacation and Holidays)
25 Mondays
Not that I am keeping track or anything. lol
Post by: Linea_Norway on September 09, 2019, 01:06:32 PM
Hi,Welcome!
I excused myself form the 2021 FIRE Cohort and am joining this one. Had a talk with myself and decided to stop the OMY thing so hold me accountable.
FIRE Date: March 6th 2020
179 days but only 134 working day (minus vacation and Holidays)
25 Mondays
Not that I am keeping track or anything. lol
Welcome. Inspiring to count remaining Mondays. My DH just counted that we both have 14 Mondays left, including one vacation day.
Post by: Linea_Norway on September 10, 2019, 02:40:16 AM
So I think I should rather use the occasion to give notice instead.
Normally one doesn't give notice earlier than necessary, but it will include my week of vacation from next week. The longer I give notice, the better they can prepare for it. I guess for me, it doesn't really make a difference during the time left. The advantage for me is that I can be more honest from now one. I can tell my coworkers that I'm selling my home, which explains why I am organizing so much (borrowing the hanger, arriving later at work som days, etc).
I did receive an email about my yearly pay increase yesterday, which will be paid back from May, so giving notice shouldn't negatively influence that. I will receive the increase around the 20th of September.
Post by: Trifle on September 10, 2019, 03:56:22 AM
I have been called in for the yearly "How can we motivate you" talk with my boss, on Thursday. I see how pointless that is now, since I am going to give my notice in 3 weeks. I need to give it before the end of September to be able to quit per 1 rst of Jan.
So I think I should rather use the occasion to give notice instead.
Good luck Linea! To an outside observer this is pretty funny -- sitting down with the boss for your annual performance talk, and then you give notice instead. Hope it goes smoothly and isn't stressful. It sounds like you work at a decent place with pretty good people.
Post by: Linea_Norway on September 10, 2019, 04:33:14 AM
I have been called in for the yearly "How can we motivate you" talk with my boss, on Thursday. I see how pointless that is now, since I am going to give my notice in 3 weeks. I need to give it before the end of September to be able to quit per 1 rst of Jan.
So I think I should rather use the occasion to give notice instead.
Good luck Linea! To an outside observer this is pretty funny -- sitting down with the boss for your annual performance talk, and then you give notice instead. Hope it goes smoothly and isn't stressful. It sounds like you work at a decent place with pretty good people.
Yes, I have a decent manager. This is not the performance review, that is in the spring. But it is the halfway the year talk, about other things. Literally questions like: What motivates you to work? How can this improve? Do you feel you can use your skills and knowledge in this job? etc.
Post by: rab-bit on September 10, 2019, 06:03:09 AM
Our retirement plans are really starting to take shape!Exciting times!
- We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
- Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
- I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
Some updates:
- Rental #3 renovation is complete and we have found tenants. We'll be meeting with them to get the deposit to hold tomorrow.
- We closed on the new condo retirement home on 7/1 and will be starting renovations on that as soon as I get past some work deadlines in the next few weeks. We will also be getting our current home ready to list for sale.
- I'm afraid that the downshift work possibilities may not materialize. One is almost certainly dead, and I need to follow up on the other one.
- It's looking more and more like there may be a buyout offer at my company around September. If so, I would probably take it.
Rumors are rampant at my company that they will soon offer an incentive program for employees to quit. Since I have not been here that long (less than 5 years), it would not be extremely lucrative for me, but since I was planning on quitting in early 2020 anyway, I would certainly jump at the chance to have a few months of paid vacation. If they do offer something, I am guessing that it will be before the end of this month...
Post by: Linea_Norway on September 10, 2019, 11:07:46 AM
Our retirement plans are really starting to take shape!Exciting times!
- We purchased our third rental property a few months ago and the remodel is almost complete. It's turning out very nicely and I don't expect to have any problems renting it.
- Last week our offer was accepted on a condo that will be our retirement home. After we sell our current home, there should be enough to pay off this condo as well as the rental mentioned above (if we so choose).
- I am in discussions with contacts from my previous employer on two different downshift work opportunities. It's too early to tell if either of these will pan out, but going part-time with my current employer may also be an option.
Some updates:
- Rental #3 renovation is complete and we have found tenants. We'll be meeting with them to get the deposit to hold tomorrow.
- We closed on the new condo retirement home on 7/1 and will be starting renovations on that as soon as I get past some work deadlines in the next few weeks. We will also be getting our current home ready to list for sale.
- I'm afraid that the downshift work possibilities may not materialize. One is almost certainly dead, and I need to follow up on the other one.
- It's looking more and more like there may be a buyout offer at my company around September. If so, I would probably take it.
Rumors are rampant at my company that they will soon offer an incentive program for employees to quit. Since I have not been here that long (less than 5 years), it would not be extremely lucrative for me, but since I was planning on quitting in early 2020 anyway, I would certainly jump at the chance to have a few months of paid vacation. If they do offer something, I am guessing that it will be before the end of this month...
In my company, a voluntary quit package it is age depending. Those under 30 get 3 months severance. Those over 60 1,5 year. And other ages somewhere in between. Unfortunately my part department is only hiring, so no goodbye packages are available for me.
Post by: Linea_Norway on September 12, 2019, 05:36:04 AM
We still has the rest of our official talk, but very reduced. I don't need to do all the goals that our department has to do. But I got one prioritized project (that I started) that I need to work on and evaluate before the end of the year to a group of interested people. So I will concentrate on that, beside my normal tasks.
After lunch our department manager also wanted to have a chat with me (she didn't mention anything during the lunch break, even though I was sitting beside her). She is quite desperate on what to do when I leave, even though she understands that I want to do it personally. I was again asked if I knew for sure that I wanted to come back in the same job. I said I couldn't promise that and was a bit vague and talked about projects-wise work. She said I was welcome back anyway, even if they would say know to a formal sabbatical request.
I promised to get in touch with a friend of mine who I think could be a good replacement for me, either as a consultant or an employee.
Both of them suggested that we could live in our cabin during that year... That is a cabin without running water and I find it s bit challenging to live their for a longer period, especially winter time.
Post by: ysette9 on September 12, 2019, 07:12:00 AM
How does it feel to have that out in the open now?
Post by: Linea_Norway on September 12, 2019, 07:47:16 AM
Awesome that you had The Talk! Presenting it as a sabbatical is a great middle ground in my opinion. Who knows? It is always possible you will actually want to return to work. ;-)
How does it feel to have that out in the open now?
I feel very well now, because I can from now on talk openly about selling my house.
Yesterday (when I was still in the closet), I was talking Norwegian to a French coworker who is learning Norwegian, but understands it a bit poorly.
Me: I have been driving the hanger, cleaning out the trees I removed from the garden and a lot of stuff from our home.
She: Why are you cleaning out your place?
Me (Feeling uncomfortable): We removed some trees that were blocking out the view from our home. (which it partly true).
She (didn't understand what I said and just made a guess): Are you going to sell your home? (A pretty good guess).
Me (even more uncomfortable): I just said we that removed some trees that were blocking our view.
Next time I will be able to answer more truthfully.
I am not mentioning the "sabbatical" to my coworkers before my manager makes it public, or let's me do it.
In the past few years, I have mentioned the concept of early retirement to some of my coworkers. If they ask me if this is it, I am still gonna say that we are going to take a year off first. That has DH requested from me, because Norway is a small world and he wants that to be his own story. But these few coworkers might understand how it really works.
I also feel a bit giddy today.
Post by: Linea_Norway on September 16, 2019, 06:36:30 AM
The only reason for my sabbatical was that if I would get disabled during the next year, I could afterwards claim disability payment from the state as I can't do the job that I then have again. And the option that I don't want to think too much about: If we cannot sell the house this autumn and wait until spring and the house market crashes with 50%. Then we will have to go back work work... At least, we do have about 6,5 years spending in investments, but the rest has to come from our home sales. For the moment this is not my biggest worry.
Post by: Linea_Norway on September 18, 2019, 07:16:29 AM
01/01/2020 Linea_Norway (@46)
01/2020 Farmgirl
01/2020 Now-non
03/06/2020 CrazyIT
03/2020 FInding_peace (@38)
03/2020 rab-bit (@58)
03/2020 TheContinaltalOp
03-04/2020 Maenad
03-04/2020 Padonak
03-04+2/2020 Beeboy (@46)
04/2020 DreamFIRE
04/2020 Exit2019
04/2020 Itchyfeet
04/2020 Pennycounter
04-05/2020 aspiringnomad (@37)
04-12/2020 robtown
05/2020 Body Surfer
05/2020 Lady Stash (@45)
05/01/2020 Much fishing to do
05/2020 Rcc
06/2020 ixtap (date uncertain)
07/2020 2sk22
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07-12/2020 MMM123
08/2020 Bateaux
10/2020 Rubyvroom
11/01/2020 Alienbogey
12/202? desk_jockey
12/31/2020 BFGirl
12/2020 david_shin
12/2020 MoneyTree (@36)
12/2020 Nora (@42)
12/2020 Sand101
12/2020 TheFIExplorer
12/2020 ysette9 (@38)
??/202? Gumption
??/2020 EscapeVelocity2020
??/2020 apurplelife
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
??/2020 FIREstache (@55)
??/2020 Freedomin5 (@38)
??/2020 LadyMaWhiskers
??/2020 letsdoit
??/2020 onlykelsey
??/2020 tooqk4u22
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of Drcember 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: AO1FireTo on September 18, 2019, 07:59:16 PM
Must be so exciting to be so close.
Post by: Freedomin5 on September 21, 2019, 03:54:54 AM
Post by: AO1FireTo on September 22, 2019, 01:22:26 PM
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.
Sweet, yes staying in Toronto is delaying my FIRE for sure. Anyone had any success convincing a spouse that moving from Toronto (or comparable HCOL area), to a LCOL area is a smart move.
What country are you in now?
Post by: Lews Therin on September 22, 2019, 06:30:25 PM
Wow really impressed on how young some of you are. Any of you in Canada? I could pull the trigger too if I could convince the wife to downsize and move to a LCOL area. I'll keep working on her :).
Must be so exciting to be so close.
I'm in ottawa (now gatineau) my house/yard, distance from downtown ottawa would cost 2M+ if I was in a comparable toronto location.
Post by: Linea_Norway on September 23, 2019, 12:36:18 AM
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.
Very similar to us. Fireing in a hcol country and not planning to live in the capital because of the price. We will also move into the country.
Post by: Mmm_Donuts on September 25, 2019, 04:15:50 AM
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.
Sweet, yes staying in Toronto is delaying my FIRE for sure. Anyone had any success convincing a spouse that moving from Toronto (or comparable HCOL area), to a LCOL area is a smart move.
I'm in that situation (in Toronto) with spouse unwilling to leave (yet). My solution is to FIRE before him, since he's the one who wants to stay, and I'll be prepping the house for our move.
He is accepting of the fact that we have to move (financially downsize) and that I really want to move (not liking Toronto life that much anymore), but I am ready to go now, and he wants to wait as long as possible. The compromise is he works longer, I do the legwork for the move. Our house at the peak a couple years ago was worth ~$2M. It was torturous to stay here and keep working with that kind of money tied up in one asset. I have been talking about selling and moving ever since.
Post by: AO1FireTo on September 25, 2019, 06:57:37 AM
We are Canadian and will be FIRE-ing in Canada (though we currently work abroad). Totally planning to FIRE somewhere that is Not Toronto. Maybe FIRE-ing up in cottage country.
Sweet, yes staying in Toronto is delaying my FIRE for sure. Anyone had any success convincing a spouse that moving from Toronto (or comparable HCOL area), to a LCOL area is a smart move.
I'm in that situation (in Toronto) with spouse unwilling to leave (yet). My solution is to FIRE before him, since he's the one who wants to stay, and I'll be prepping the house for our move.
He is accepting of the fact that we have to move (financially downsize) and that I really want to move (not liking Toronto life that much anymore), but I am ready to go now, and he wants to wait as long as possible. The compromise is he works longer, I do the legwork for the move. Our house at the peak a couple years ago was worth ~$2M. It was torturous to stay here and keep working with that kind of money tied up in one asset. I have been talking about selling and moving ever since.
Yes very similar to my situation. It's hard seeing all that money tied up in an asset that doesn't produce income. I actually don't mind Toronto, but I'd be fine in a smaller city. I suspect I'll FIRE to another career or side hustle in a couple of years while my wife continues to work. I guess that's not so bad:). Congrats to those of you that have fired in 2020.
Post by: exit2019 on September 25, 2019, 07:32:10 PM
basically, why would you live in the bay area if you don't have to for work? great restaurants and nice weather, but polluted, expensive, and crowded
it's going to be frustrating to figure out how to rebuild a circle of friends
Post by: ysette9 on September 25, 2019, 08:43:34 PM
we are also leavingThis is a question we are and have been pondering. My husband seems less tied to the Bay Area than me. I would consider moving to a very small set of other locations, such as Seattle. Here are the reasons that keep me here:
basically, why would you live in the bay area if you don't have to for work? great restaurants and nice weather, but polluted, expensive, and crowded
it's going to be frustrating to figure out how to rebuild a circle of friends
Family/friends/where I grew up
Weather
Outdoor activities
The great diversity of people and culture and activities that are attractive to us.
For example: we are raising our kids bi/tri-lingual. I speak French to them and my husband speaks mandarin. In the Bay Area we can find plenty of activities and friends and events for them in both languages. Hell, my oldest has two francophone kids in her mandarin immersion kindergarten class in addition to her. I can buy French kids books at garage sales here and put her in French Girl Scouts if I want while she gets to celebrate autumn festival and moon cake at public school.
I think this kind of thing can be reproduced in another large, urban, coastal city. But it isn’t going to be just anywhere.
Post by: 2sk22 on September 30, 2019, 04:22:50 PM
It is a nice feeling but not enough to persuade me to stay employed :-)
Post by: Linea_Norway on October 01, 2019, 01:24:45 AM
This is a strange thing to say but I think I will miss my commute a little when I finally quit next year. I take a bus into the Port Authority bus terminal in New York and then take the subway to my office. When I get off the bus in the morning, I see a fast-flowing river of humanity - people walking fast and purposefully to their respective workplaces. I have been doing this commute for many years andI have always felt some of this energy transferring to me.
It is a nice feeling but not enough to persuade me to stay employed :-)
I have commuted by train and subway for many years, but I don't miss it at all. I have always felt a bit vulnerable for possible terror attacks when travelling through the country's most crowded stations.
I love my much shorter commute by car on small roads or walking.
But I do sometimes miss the option of shopping in the city after work. Now I need to travel to the nearest town or city when I need something.
Post by: Linea_Norway on October 02, 2019, 04:15:39 AM
I am noticing the positive effects on my attitude and stresslevel at work. I am starting not to care anymore when problems arise that aren't a direct thing that I am working on. It is now not longer my concern if it it the department's problem. Also the things that sometimes annoy me, are now things I can ignore much more, because I know I can hold out for a few month more end the end is in sight.
Some co-workers have been asking questions about what my plans are. Some are worried about what to do when I'm gone. I feel a bit guilty about that, but it is not really my problem. I gave my boss the name and phone number of a friend of mine (after asking her), who I think would be excellent person to take over my job.
We are very busy preparing our home for sale. We have taken away access stuff from the rooms, got hold of some stash to make it look nice. Now just cleaning to do before the photographer comes.
Post by: Farmgirl on October 02, 2019, 06:47:18 AM
I am very ready to drop the mike.
Post by: ysette9 on October 02, 2019, 06:49:56 AM
Post by: Life in Balance on October 02, 2019, 10:12:31 AM
Post by: CrazyIT on October 02, 2019, 12:21:14 PM
2020 is approaching fast. After vacation and PTO I am around 100 working days left. Hard to stay focused but in a good way!
Post by: exit2019 on October 02, 2019, 06:34:18 PM
I have been working while going to school and doing summer classes since I was 14; my last summer off was that summer. Since then I've been fully out of balance (and I don't think people who really lean in and are aggressive about their career have balance in their 20s-40s, at least not in tech) and haven't had a summer vacation. That's 30 years of no vacation (and close to 25 years of working full time with no major breaks). I have a life expectancy of maybe 80; the years after that are progressively very constrained. So if my goal is to meet and exceed a ratio of at least 1:1, I could hypothetically work just another 10 years, max, and make that happen.
This may seem artificial, but it's good for perspective. Once you get them to agree that in ALL OF THEIR LIFE they will only have half of their summers, and the rest they are trading for cash, then the next step seems reasonable: if I'd have to retire by 50, which is still very early, a few years earlier isn't significantly different and doesn't raise the ratio all that much or make things that much harder.
So in short, half. Half is all I'm willing to give up. And if I can do better, even marginally, then I will.
#1 reaction: "I'm too young to not be working." Yeah, talk to me in ten years after the coming downturn. I've lived through three major downturns and don't need to be around in the office for #4.
Post by: ScreamingHeadGuy on October 02, 2019, 08:20:47 PM
…I have been working while going to school and doing summer classes since I was 14; my last summer off was that summer. Since then I've been fully out of balance…
Holy crap, man, I never really thought about it that way. I, too, have not had a “real” full length summer vacation since my freshman year of high school. Part of me must be really looking forward to having so much time and “nothing to do”.
Post by: Linea_Norway on October 03, 2019, 02:12:45 AM
…I have been working while going to school and doing summer classes since I was 14; my last summer off was that summer. Since then I've been fully out of balance…
Holy crap, man, I never really thought about it that way. I, too, have not had a “real” full length summer vacation since my freshman year of high school. Part of me must be really looking forward to having so much time and “nothing to do”.
I have also always been working summer vacations from when I was 15. And worked 2 jobs for some time after that. But some 10 years ago, DH and I took a 13 week summer vacation for one time. During that time we renovated the bathroom, which took 5 weeks in total. But we also went on many trips. That was the only long time off I ever had in the last 30 years.
We have however been working only 80% for the past year and that was a great luxury.
Post by: 2sk22 on October 03, 2019, 02:46:19 AM
So in short, half. Half is all I'm willing to give up. And if I can do better, even marginally, then I will.
#1 reaction: "I'm too young to not be working." Yeah, talk to me in ten years after the coming downturn. I've lived through three major downturns and don't need to be around in the office for #4.
I have a similar situation - I did absolutely nothing in July and August I quit my job at megacorp earlier this year. It was the longest time I have not worked or been at school in 30 years. I went to grad school for my PhD which was a brutal slog and then I worked continuously ever since.
Post by: 2Birds1Stone on October 03, 2019, 08:54:44 AM
If the economy crashes and burns in Q4, maybe I'll see some of you over there as well
Post by: Linea_Norway on October 03, 2019, 01:45:44 PM
I handed in my two weeks notice on Monday, so officially out of this cohort and in the 2019 one.
If the economy crashes and burns in Q4, maybe I'll see some of you over there as well
Congrats on being out of here.
I updated the list on the previous page.
Post by: firebrand on October 08, 2019, 08:01:55 AM
Post by: ysette9 on October 08, 2019, 08:16:43 AM
Just closing up loose ends here .. originally planned to retire with this group but moved my date to this year. I will be on terminal leave after the first week in December with an official last day being December 31, 2019.Congratulations
Post by: Linea_Norway on October 08, 2019, 01:46:49 PM
Just closing up loose ends here .. originally planned to retire with this group but moved my date to this year. I will be on terminal leave after the first week in December with an official last day being December 31, 2019.
Same official last day as mine! Congratulations!
Post by: firebrand on October 08, 2019, 01:59:42 PM
Thank you, and Happy New Year (in advance)Just closing up loose ends here .. originally planned to retire with this group but moved my date to this year. I will be on terminal leave after the first week in December with an official last day being December 31, 2019.
Same official last day as mine! Congratulations!
Post by: Linea_Norway on October 09, 2019, 12:17:52 AM
01/2020 Farmgirl (@61)
01/2020 Now-non
01/31/2020 ATS (@52)
03/01/2020 Katmandew (@54)
03/06/2020 CrazyIT
03/2020 FInding_peace (@38)
03/2020 rab-bit (@58)
03/2020 TheContinaltalOp
03-04/2020 Maenad
03-04/2020 Padonak
03-04+2/2020 Beeboy (@46)
04/2020 DreamFIRE
04/2020 Exit2019
04/2020 Itchyfeet
04/2020 Pennycounter
04-05/2020 aspiringnomad (@37)
04-12/2020 robtown
05/2020 Body Surfer
05/2020 Lady Stash (@45)
05/01/2020 Much fishing to do
05/2020 Rcc
06/2020 ixtap (date uncertain)
07/2020 2sk22
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07-12/2020 MMM123
08/2020 Bateaux
10/2020 Rubyvroom
11/01/2020 Alienbogey
12/202? desk_jockey
12/31/2020 BFGirl
12/2020 david_shin
12/2020 MoneyTree (@36)
12/2020 Nora (@42)
12/2020 Sand101
12/2020 TheFIExplorer
12/2020 ysette9 (@38)
??/202? Gumption
??/2020 EscapeVelocity2020
??/2020 apurplelife
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
??/2020 FIREstache (@55)
??/2020 Freedomin5 (@38)
??/2020 LadyMaWhiskers
??/2020 letsdoit
??/2020 onlykelsey
??/2020 tooqk4u22
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: ATS on October 09, 2019, 10:04:52 AM
I'm 52 and just celebrated my 30th anniversary with my company and although I was going to work until I was 55 for more buffer, I have run the numbers and I just can't do this for another three years. I am paid very well and have the job under control, but it hasn't brought me joy or real fulfillment for the last few years and it's time to move on.
I wish I could say I'm completely confident about this all of the time, the emotional swings have caught me by surprise. Most of the time I know I am making the right decision and I'm excited, but I do have doubts that creep in, usually around 4am....I make good money, am I an idiot from walking away from this? What if my calculations are off and I don't have enough money? Why can't I just gut it out for another 3 years, it's not that bad? What if the recession wipes everything out? Who quits their job at 52? What if ACA is cancelled what will I do for insurance? What if I'm bored and lonely? I don't have a partner maybe I need a bigger buffer?
During my 4am sessions I remind myself that my house is paid for, my average annual spend for the last 5 years is less than a 3% withdrawal rate, adding the most outrageous COBRA/health insurance scenarios I'm below 3.5%, I have over three years of annual spend outside of the stock market so I can ride out any dips, I am smart and resourceful and I can overcome any obstacles that come my way, what I can't overcome is time and do I want to spend three more years doing this?
I read you should retire with two hobbies - one that makes money and one that keeps you fit. I've had an eBay side hustle for years that I enjoy, I've let it wind down some over the last couple of years, but looking forward to ramping it back up. Working on the hobby to keep me fit - knitting just doesn't seem to provide the kind of cardio I need.
That was a bit cathartic to type out all of that - It's a leap of faith and I'm looking forward to sharing that leap with all of you.
Post by: Farmgirl on October 09, 2019, 10:11:38 AM
My spreadsheets have spreadsheets. They say we will be ok. But it is still scary.
Knitting is good for the soul. We raise alpacas for fleece/yarn. My best friends are fiber people.
Post by: CrazyIT on October 09, 2019, 11:55:07 AM
I've been lurking on the forums for years, never posted, but I am joining the 2020 FIRE team....1/31/20 will be my last day. I put in my notice for the end of October, but negotiated a retention bonus to stay through January.
I'm 52 and just celebrated my 30th anniversary with my company and although I was going to work until I was 55 for more buffer, I have run the numbers and I just can't do this for another three years. I am paid very well and have the job under control, but it hasn't brought me joy or real fulfillment for the last few years and it's time to move on.
I wish I could say I'm completely confident about this all of the time, the emotional swings have caught me by surprise. Most of the time I know I am making the right decision and I'm excited, but I do have doubts that creep in, usually around 4am....I make good money, am I an idiot from walking away from this? What if my calculations are off and I don't have enough money? Why can't I just gut it out for another 3 years, it's not that bad? What if the recession wipes everything out? Who quits their job at 52? What if ACA is cancelled what will I do for insurance? What if I'm bored and lonely? I don't have a partner maybe I need a bigger buffer?
During my 4am sessions I remind myself that my house is paid for, my average annual spend for the last 5 years is less than a 3% withdrawal rate, adding the most outrageous COBRA/health insurance scenarios I'm below 3.5%, I have over three years of annual spend outside of the stock market so I can ride out any dips, I am smart and resourceful and I can overcome any obstacles that come my way, what I can't overcome is time and do I want to spend three more years doing this?
I read you should retire with two hobbies - one that makes money and one that keeps you fit. I've had an eBay side hustle for years that I enjoy, I've let it wind down some over the last couple of years, but looking forward to ramping it back up. Working on the hobby to keep me fit - knitting just doesn't seem to provide the kind of cardio I need.
That was a bit cathartic to type out all of that - It's a leap of faith and I'm looking forward to sharing that leap with all of you.
Congrats and welcome!
I have been wondering why I have been waking up at 4am lately too! I have the same thoughts but just like you can justify every scary thought with reassurance that everything will work out just fine. What helps me is continuing to run the numbers different ways and with different scenarios. I think part of my anxiousness is the realization that my net worth won't continue to increase at the same rate as it has for the last several years. Being a saver for so long with take some transitioning in itself.
Worst case could be a part time job if needed i guess...lol
Post by: ATS on October 09, 2019, 01:55:02 PM
Quote
Congrats and welcome!
I have been wondering why I have been waking up at 4am lately too! I have the same thoughts but just like you can justify every scary thought with reassurance that everything will work out just fine. What helps me is continuing to run the numbers different ways and with different scenarios. I think part of my anxiousness is the realization that my net worth won't continue to increase at the same rate as it has for the last several years. Being a saver for so long with take some transitioning in itself.
Worst case could be a part time job if needed i guess...lol
Thanks for the welcome, it doesn't really seem real yet.
I stumbled into FIRE...I've been contributing to my 401K maxing it out for the last decade or so, but in the last 5 years my non-401K stache has really grown - a combination of good salary, modest spending, paying off my 15-year mortgage (I know there are mixed feelings about that, but it freed up cash flow), side hustle income, market gains. I started reading forums and running the numbers and realized that maybe I didn't have to wait until I could draw on my 401K at 59.5, maybe it could happen at 55, and now it could happen at 52?
Maybe if I had been planning this for a longer time it would seem more tangible and less scary. I know I'm going to have a problem when my non-401K stache starts declining, but I'll deal with that when it happens.
Post by: ATS on October 09, 2019, 02:01:37 PM
Oh ATS! I understand completely! I'm due to give notice January of next year. I am 61. I just can't stomach staying even till I turn 62 in October, 2020. We have several businesses (that don't make much $) that I will work on to try to boost them. Serial entrepreneurs. But I get those scary thoughts. The "what if's".
My spreadsheets have spreadsheets. They say we will be ok. But it is still scary.
Knitting is good for the soul. We raise alpacas for fleece/yarn. My best friends are fiber people.
I have run spreadsheets every way I can think of also, love me an excel spreadsheet :)
Part of the scary is that there is I don't know anyone like me in real life. Here I'm an oldie, but in real life anyone I know that has retired prior to 60 was pushed out (laid off), has a pension or has a partner/spouse providing income support.
Post by: tawyer on October 09, 2019, 03:34:42 PM
I've been lurking on the forums for years, never posted, but I am joining the 2020 FIRE team....1/31/20 will be my last day. I put in my notice for the end of October, but negotiated a retention bonus to stay through January.Nice job on the retention bonus. Your comment about two hobbies is food for thought. I've often wondered about doing something on the spectrum from yardwork to landscape gardening to hit both objectives.
I read you should retire with two hobbies - one that makes money and one that keeps you fit. I've had an eBay side hustle for years that I enjoy, I've let it wind down some over the last couple of years, but looking forward to ramping it back up. Working on the hobby to keep me fit - knitting just doesn't seem to provide the kind of cardio I need.
Post by: Linea_Norway on October 10, 2019, 02:32:11 AM
I think you can both do for example active walks during the day and knitting later in the day. About that money making hobby: if your numbers are enough, then why would you? And you can also knit for customers.
If your company appreciates you, you can perhaps keep in touch with them and do some occasional project work from time to time for some extra cash?
You are totally right to quite now if you feel you can. You say that you don't have a partner, but that also makes you flexible in changing your spending habit if you have to. You can probably get a room mate or move to a minimum place to live, without having to agree with a partner about it. Just in worst case if things don't work out.
Also, if you travel regularly, think about whether you can AirBnB your home when you are gone.
I also started loving Excel for FIRE spreadsheets. I have many parameters, where I can vary the SWR, our spending level, the sales price of our home, etc.
Post by: Katmandew on October 10, 2019, 07:06:13 PM
Post by: Linea_Norway on October 11, 2019, 05:38:56 AM
First time poster, long(ish) time reader! Going to fire 3-1-2020. I will be 54, DW will be 48. Have been living below our means since well before finding MMM, but have enjoyed and learned much from his site and many of you. Excited and a tad bit nervous, but totally committed.
Welcome to the cohort. I guess there are many of us who have been living well beloew our means for many years and suddenly found out what we could to with all that money. I think I just googled on warly retirement ans found MMM. It was nice to see that there now is a movement and that we are not the only frugal weirdos.
Post by: Linea_Norway on October 14, 2019, 02:19:37 AM
In our case, we are selling our home and living here and there for a year, trying to figure out where we would like to live in the future. DH and I discussed yesterday that we shouldn't try to engage in anything that creates any obligations, but do visit events where we can meet people.
We will use this first year to relax/stress down and just get time for our hobbies. Those are CC skiing, hiking longer and short trips, astronomy (me), sewing (DH), cooking, foraging for food (seaweed, edible plants, mushrooms), viewing and photographing birds.
Post by: CrazyIT on October 14, 2019, 07:39:39 AM
Do any of you have specific plans of what to do shortly after FIRE?
Sounds like a great plan!
My FIRE is March 6th and my first grandchild is due March 7th. My daughter and husband lives in a different part of the country as I do so the plan is to drive to see them and the new Baby later in the month of March. Its a 3 day drive. I am purposely not making any plans on when I leave where I stay or for how long. Just want to "wing it" . I am sure it will just feel like I am on vacation until I get back home. The first Monday will probably be totally weird...
About 90 working days left. 10 more bimonthly team meetings (not that I am counting or anything)
Post by: ysette9 on October 14, 2019, 09:58:36 AM
Post by: ATS on October 14, 2019, 02:39:55 PM
1. Received the 2020 calendar at work - I realized past January it doesn't matter what days are designated as holidays, everyday is a holiday for me.
2. Signed up for 2020 benefits and adjusted my contributions to max out my 2020 HSA account in January.
Post by: WYOGO on October 14, 2019, 09:07:08 PM
It’s a bit surreal that it is so close now and I anticipate not working another birthday at this point. If all goes as planned, it will be 20 years total working since my first W-2 wage was obtained with a real concentrated high percentage savings/investment effort from about 2012 onward...
...2020!
Post by: WYOGO on October 14, 2019, 09:15:22 PM
Do any of you have specific plans of what to do shortly after FIRE?
In our case, we are selling our home and living here and there for a year, trying to figure out where we would like to live in the future. DH and I discussed yesterday that we shouldn't try to engage in anything that creates any obligations, but do visit events where we can meet people.
We will use this first year to relax/stress down and just get time for our hobbies. Those are CC skiing, hiking longer and short trips, astronomy (me), sewing (DH), cooking, foraging for food (seaweed, edible plants, mushrooms), viewing and photographing birds.
I plan on doing some intial travel after a 30 day detox period locally; I also want to identify some thru hikes for the following year and cycle over winter in some warm and beautiful places. Simple things, but exploring new ways to maintain discipline and healthy routines outside of the structure employment provides.
Post by: markbike528CBX on October 14, 2019, 09:20:44 PM
Post by: Linea_Norway on October 15, 2019, 12:44:09 AM
Do any of you have specific plans of what to do shortly after FIRE?
In our case, we are selling our home and living here and there for a year, trying to figure out where we would like to live in the future. DH and I discussed yesterday that we shouldn't try to engage in anything that creates any obligations, but do visit events where we can meet people.
We will use this first year to relax/stress down and just get time for our hobbies. Those are CC skiing, hiking longer and short trips, astronomy (me), sewing (DH), cooking, foraging for food (seaweed, edible plants, mushrooms), viewing and photographing birds.
I plan on doing some intial travel after a 30 day detox period locally; I also want to identify some thru hikes for the following year and cycle over winter in some warm and beautiful places. Simple things, but exploring new ways to maintain discipline and healthy routines outside of the structure employment provides.
We have also been thinking whether a thru hike would be something. So far, we usually hike for a week and sometimes 2 weeks in a row. For us crossing Norway in the length could be such a hike, but that requires a lot of organization because you can't do it in one snow-free season, so it involves doing a part of skis and a part on shoes. It is a popular hike, not on a dedicated path, but finding your own path between 2 given points. But so far it sounds a bit like a stresser to think about it.
To keep it a little more simple, I am first thinking about walking the Pennine Way in Britain, which is longer than the usual hikes. Preferably outside the midge season. And maybe crossing Norway in width somewhere, which can vary from a pretty long trip to a very short one. But at least that can be done in one season.
We also have a plan to cycle through mainland Europe some time. Maybe along rivers through nice old towns.
Post by: CrazyIT on October 15, 2019, 07:33:08 AM
A couple things today that highlighted the reality of FIRE - my FIRE date is 1/31/20
1. Received the 2020 calendar at work - I realized past January it doesn't matter what days are designated as holidays, everyday is a holiday for me.
2. Signed up for 2020 benefits and adjusted my contributions to max out my 2020 HSA account in January.
ATS, With only a few posts you clearly have done your homework on FIRE. No doubt you will be just fine!
I will frontload my 401k (26K next year) prior to my 3/6 FIRE date (no HSA where I work but will start one when i sign up for ASA).
I think our calendars come out the end of the month...lol
Post by: RedefinedHappiness on October 15, 2019, 10:22:58 AM
401k front load, HSA front load, dropping life insurance...
I'm probably just paranoid, but curious what people think.
Post by: markbike528CBX on October 15, 2019, 11:09:23 AM
Anyone worried about HR changes tipping anyone off that you are considering leaving, this impacting bonus awards, etc?
401k front load, HSA front load, dropping life insurance...
I'm probably just paranoid, but curious what people think.
I doubt most HR orgs are enlightened enough to see through all that. They'd probably think it was a clerical mistake and "fix" it for you.
"Never ascribe to malice that which can be explained by stupidity".--- forgot the quote/paraphrase source.
Post by: dsw on October 15, 2019, 11:42:35 AM
To keep it a little more simple, I am first thinking about walking the Pennine Way in Britain, which is longer than the usual hikes.
I'd recommend the Coast to Coast walk, also in Britain. It goes through a nice variety of different terrains (Seaside cliffs, Lake District mountains, moorland, Yorkshire dales, and back to seaside cliffs) and is not nearly as boggy as the Pennines (although it has its moments). May is a really nice time for this. No midges, and at least a plausible shot at good weather.
Post by: CrazyIT on October 15, 2019, 11:59:38 AM
Anyone worried about HR changes tipping anyone off that you are considering leaving, this impacting bonus awards, etc?
401k front load, HSA front load, dropping life insurance...
I'm probably just paranoid, but curious what people think.
I have been upfront with my close coworkers (and boss) that I follow the FIRE way of life. Many people ask me when I am going to retire and I always dance around the answer. I have been saying 1-3 years for about the last 3-4 years now. I think being vague is the key. I usually turn it around and ask them retirement questions then they leave me alone. I want to give more then a 2 week notice but like many others here know that typically backfires. There are many things I do for my company that only I know but everyone is replaceable and they can figure that out in the 2 weeks after I give my notice.
Post by: PhrugalPhan on October 15, 2019, 12:07:03 PM
2. Signed up for 2020 benefits and adjusted my contributions to max out my 2020 HSA account in January.Note that if you don't have HDHP insurance for the whole year you are not allowed to max out the HSA for the year. You have to prorate based on the number of months you have the HDHP during the year.
Post by: rab-bit on October 15, 2019, 12:15:12 PM
... I want to give more then a 2 week notice but like many others here know that typically backfires...
I have heard this said before but I have not seen anyone say how it backfires. Anyone have details?
Post by: ATS on October 15, 2019, 12:59:12 PM
2. Signed up for 2020 benefits and adjusted my contributions to max out my 2020 HSA account in January.Note that if you don't have HDHP insurance for the whole year you are not allowed to max out the HSA for the year. You have to prorate based on the number of months you have the HDHP during the year.
I'm extending my current HDHP insurance through COBRA for the year - but a good point for those who are not.
Post by: ATS on October 15, 2019, 01:10:40 PM
... I want to give more then a 2 week notice but like many others here know that typically backfires...
I have heard this said before but I have not seen anyone say how it backfires. Anyone have details?
I'm ending up working a few more months after I gave notice, but I had a plan if it was going to be two weeks.
Some employers have policies about keeping people long after they give notice - whether it be concerns about access to confidential information or access to systems or work ethic.
It could backfire if your plan is to give a few month notice and your plan is situated around that (finances or insurance or bonus, etc) and instead they change it to two weeks or even escorted out the door.
I will also add on a personal level, it feels strange when you have an end date but are still working. I've not told coworkers yet, only my management, I don't want it impacting our working relationship yet as a lame duck employee. Another reason I don't want to have the why I am leaving conversation for the next three months.
Post by: markbike528CBX on October 15, 2019, 02:08:59 PM
... I want to give more then a 2 week notice but like many others here know that typically backfires...
I have heard this said before but I have not seen anyone say how it backfires. Anyone have details?
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/ has a lot of pros and cons about various resignation notice lengths.
Post by: 2sk22 on October 18, 2019, 03:10:20 PM
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/ has a lot of pros and cons about various resignation notice lengths.
@markbike528CBX I read your epic resignation letter - we definitely need to have a hall of fame here to recognize such letters :-)
My resignation email when I quit megacorp earlier this year was just a couple lines long. One thought that occurs to me is that there are a huge number of websites that aim to help you look for jobs while this is the one forum that helps you quit!
Post by: ysette9 on October 18, 2019, 03:18:14 PM
Post by: 2sk22 on October 18, 2019, 03:33:45 PM
Link to epic resignation letter, please?:)
Here's his letter: https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/msg1862912/#msg1862912
Post by: markbike528CBX on October 18, 2019, 09:15:03 PM
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/ has a lot of pros and cons about various resignation notice lengths.
@markbike528CBX I read your epic resignation letter - we definitely need to have a hall of fame here to recognize such letters :-)
My resignation email when I quit megacorp earlier this year was just a couple lines long. One thought that occurs to me is that there are a huge number of websites that aim to help you look for jobs while this is the one forum that helps you quit!
[Blushes] It is really not that epic, and mostly was ignored. I had been working on it for several years, whenever a irritation point would arise.
From a prior (19 years earlier) resignation letter....
"A large factor in my decision to seek employment elsewhere is the continued use of failed management systems, and the continual addition of requirements, permissions and controls. All of these things add major impediments to accomplishing even the simplest of tasks. While "tilting at windmills" is humorous when done by Don Quixote, or the first time one does it, several years of such activity are distinctly less humorous. This resignation is an indication of a lack of confidence in future improvements in productivity at the laboratory. I am essentially "voting with my feet". You may use/distribute this letter as you see fit."
Of course this letter also had zero impact.
When there is an "exit interview" or resignation letter I feel it is good karma to spell out what made you unhappy enough to leave. Some people are willing to work an issue if they have documentation to support their process changes and if they are made aware of the issues.
Post by: Linea_Norway on October 19, 2019, 12:40:22 AM
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/ has a lot of pros and cons about various resignation notice lengths.
@markbike528CBX I read your epic resignation letter - we definitely need to have a hall of fame here to recognize such letters :-)
My resignation email when I quit megacorp earlier this year was just a couple lines long. One thought that occurs to me is that there are a huge number of websites that aim to help you look for jobs while this is the one forum that helps you quit!
[Blushes] It is really not that epic, and mostly was ignored. I had been working on it for several years, whenever a irritation point would arise.
From a prior (19 years earlier) resignation letter....
"A large factor in my decision to seek employment elsewhere is the continued use of failed management systems, and the continual addition of requirements, permissions and controls. All of these things add major impediments to accomplishing even the simplest of tasks. While "tilting at windmills" is humorous when done by Don Quixote, or the first time one does it, several years of such activity are distinctly less humorous. This resignation is an indication of a lack of confidence in future improvements in productivity at the laboratory. I am essentially "voting with my feet". You may use/distribute this letter as you see fit."
Of course this letter also had zero impact.
When there is an "exit interview" or resignation letter I feel it is good karma to spell out what made you unhappy enough to leave. Some people are willing to work an issue if they have documentation to support their process changes and if they are made aware of the issues.
This should have been quite a wake up call for management. But when will they ever admit that they themselves are the problem?
What your letter suggests, is that no one works there for their enjoyment anymore and will leave as soon as they have a better option.
Post by: Bateaux on October 19, 2019, 12:54:36 AM
Post by: ysette9 on October 19, 2019, 01:52:00 AM
I was packing up my desk earlier this week for a move and came across a print out of the exit letter I sent to my former VP and CEO when I left my old company. I found myself being impressed at Old Me for what I had put together. It was super carefully worded and all of that, but that same sense of catharsis in finally being able to share some of those pain points that finally pushed me out the door.
Post by: Linea_Norway on October 22, 2019, 07:34:10 AM
Earlier I had sent a very detailed list to my manager with my tasks, so when the meeting stagnated, I fetched my pc and found that email. I mentioned that half of the list was not the responsibility of this team, but were general tasks that the manager should find a replacement for. After a lot more unproductive back and forth, we ended up going through the relevant half of the list and writing down whether the team possessed the knowledge and whether someone wanted to take responsibility for it.
During that meeting my peers were talking about me as if it was my funeral: like I was already gone, nothing but good about the dead and I was the most effective person on the planet. One suggested to hire 3 people to replace me, while I currently work only 80%.
As nobody had prepared and there was nothing in the room but some tiny post-it notes and my PC, I was the one who ended up sharing my screen and writing down in an excel sheet who had knowledge and who wanted to take responsibility. And I had so hoped that the division of my tasks would be my problem to deal with. At least, I didn't speak so as I usually do much during the meeting. It turned out that the team has a lot of knowledge and I only need to teach a few people a few things. And do one major task, but that was already my most important task to do before I leave.
Post by: GettingClose on October 27, 2019, 11:53:49 AM
However, my husband and I are financially beyond ready, and over the past year I've lost any feeling that I'm actually contributing anything to society as a whole.
I've worked so hard for so long that I'm a bit worried about the "first Tuesday". I could very easily work 1/2 time or less indefinitely, but I don't want to watch the inevitable slow decline of everything I've worked to keep together ...
Post by: Linea_Norway on October 27, 2019, 01:51:14 PM
I'd like to join this cohort. It's going to be really hard to quit work. I've worked for a small company (~80 employees) for my entire career and I'm pretty sure it's going to founder within a year or two of my leaving. People I've worked with for decades are going to lose their jobs and I hate feeling that responsibility.
However, my husband and I are financially beyond ready, and over the past year I've lost any feeling that I'm actually contributing anything to society as a whole.
I've worked so hard for so long that I'm a bit worried about the "first Tuesday". I could very easily work 1/2 time or less indefinitely, but I don't want to watch the inevitable slow decline of everything I've worked to keep together ...
Welcome to the cohort.
If you announce your leaving a long time ahead, the company can start planning. You could also hint, instead of telling them the actual plans.
Sad that they are so depending on you. I have that feeling also a bit. But we should be allowed to think of our own health and life. Even my manager said it was okay to prioritize my own life and that the company would solve it.
When are you going to pull the plug and at what age? Just for the list, but feel free not to answer if you don't want to.
Post by: alienbogey on October 29, 2019, 10:01:08 AM
It was easy for her to say yes because she's really good friends with her boss, who was in sad+happy for her tears before they were done.
Post by: ATS on October 29, 2019, 12:03:21 PM
I'd like to join this cohort. It's going to be really hard to quit work. I've worked for a small company (~80 employees) for my entire career and I'm pretty sure it's going to founder within a year or two of my leaving. People I've worked with for decades are going to lose their jobs and I hate feeling that responsibility.
However, my husband and I are financially beyond ready, and over the past year I've lost any feeling that I'm actually contributing anything to society as a whole.
I've worked so hard for so long that I'm a bit worried about the "first Tuesday". I could very easily work 1/2 time or less indefinitely, but I don't want to watch the inevitable slow decline of everything I've worked to keep together ...
At some point the company will have to figure out how to survive without you. Ford continues without Henry Ford, Apple continues without Steve Jobs. You can't bear the responsibility for the company succeeding alone, if your working there is the only thing keeping it going then they aren't paying you enough.
It's hard when you feel that responsibility, the emotional part is often times harder than the money part of FIRE.
A compromise could be a long transition out, you seem to be amiable to not leaving soon. That gives them time to identify how to back-fill and train and it gives you peace of mind that you aren't leaving them in the lurch. The transition could be up to a year (6 months full time so they can identify and back-fill for your position and start training, 3 months at 3 days a week to continue transition and training and 3 months at two days a week - or whatever works best for you). That transition also gives you some runway to adjust before jumping into full FIRE.
You could also negotiate a retention bonus for the year transition, but that's up to you.
If the company can't replace an employee in a year with that employee's help you are absolved of any guilt if things go south after you leave.
Post by: Linea_Norway on October 29, 2019, 01:32:06 PM
01/2020 Farmgirl (@61)
01/2020 Now-non
01/06/2020 alienbogey's wife
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
03/01/2020 Katmandew (@54)
02/2020 Freedomin5 (@38)
03/06/2020 CrazyIT
03/2020 FInding_peace (@38)
03/2020 rab-bit (@58)
03/2020 TheContinaltalOp
03-04/2020 Padonak
03-04+2/2020 Beeboy (@46)
04/03/2020 Maenad
04/2020 DreamFIRE
04/2020 Exit2019
04/2020 Itchyfeet
04/2020 Pennycounter
04-05/2020 aspiringnomad (@37)
04-12/2020 robtown
05/2020 Body Surfer
05/2020 Lady Stash (@45)
05/01/2020 Much fishing to do
05/2020 Rcc
06/01/2020 Albireo13 (@64)
06/2020 ixtap (date uncertain)
07/2020 bas5252 (@55)
07/2020 2sk22
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07-12/2020 MMM123
08/2020 Bateaux
10/2020 Rubyvroom
11/01/2020 Alienbogey
12/202? desk_jockey
12/31/2020 BFGirl
12/2020 david_shin
12/2020 MoneyTree (@36)
12/2020 Nora (@42)
12/2020 Sand101
12/2020 TheFIExplorer
12/2020 ysette9 (@38)
??/202? Gumption
??/2020 EscapeVelocity2020
??/2020 apurplelife
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
??/2020 FIREstache (@55)
??/2020 LadyMaWhiskers
??/2020 letsdoit
??/2020 onlykelsey
??/2020 tooqk4u22
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Linea_Norway on October 29, 2019, 01:33:58 PM
My wife gave notice yesterday. Her last day is January 6th, which is a month later than she had hoped but her boss asked her for the extra month.
It was easy for her to say yes because she's really good friends with her boss, who was in sad+happy for her tears before they were done.
I added your wife to the list. Congrats to her.
Are you still planning to stay on to November?
Post by: DisplacedHoosier on October 29, 2019, 04:15:55 PM
I passed the 30-year mark at MegaCorp this year and the politics, commute, and endless meetings finally made me jump. Still hard because there are many good people there that I will miss greatly.
Been running the numbers for the past few years working toward this goal. Paid off the house... Cut spending... Empty nesters... MegaCorp provided HC and pension...
Feels weird and almost makes me feel guilty to have this opportunity, but we've come to realize that money can't buy more time. I haven't been "jobless" since I was 14.
Post by: Linea_Norway on October 30, 2019, 12:12:58 AM
I can officially join the cohort. Last day is scheduled for January 31, 2020 at 57. Although I will be taking a fair bit of January off.
I passed the 30-year mark at MegaCorp this year and the politics, commute, and endless meetings finally made me jump. Still hard because there are many good people there that I will miss greatly.
Been running the numbers for the past few years working toward this goal. Paid off the house... Cut spending... Empty nesters... MegaCorp provided HC and pension...
Feels weird and almost makes me feel guilty to have this opportunity, but we've come to realize that money can't buy more time. I haven't been "jobless" since I was 14.
Welcome to the club. 57 is a decent age to be retiring. Don't feel guilty about it. After a while you will probably start feeling a bit giddy as the date approaches.
I have 36 actual working days left, minus whatever I have by then in flexi hours. I have started to feel giddy already.
Post by: BiuBiu on October 30, 2019, 12:54:33 AM
I just noticed Markbike, he was the fearless leader of 2019, and FIRE`d in 2018.
Post by: markbike528CBX on October 30, 2019, 01:10:09 PM
I'd like to join this cohort. It's going to be really hard to quit work. I've worked for a small company (~80 employees) for my entire career and I'm pretty sure it's going to founder within a year or two of my leaving. People I've worked with for decades are going to lose their jobs and I hate feeling that responsibility.
However, my husband and I are financially beyond ready, and over the past year I've lost any feeling that I'm actually contributing anything to society as a whole.
I've worked so hard for so long that I'm a bit worried about the "first Tuesday". I could very easily work 1/2 time or less indefinitely, but I don't want to watch the inevitable slow decline of everything I've worked to keep together ...
IMO it is unlikely that you are the single key to the whole company.
Reality check: does the company keep a life insurance policy on you about equal to company capitalization? If not, then the company doesn't think you're THAT key.
Are you the sole proprietor? If so, YOU should have succession plans in place.
I was one of two senior people in my sorta-key position. I left, they've been managing fine.
Some years ago, one of my colleagues stated "If so-and-so left ( technical lead/manager), we would be SO screwed". Well, "so-and-so" left, we had to work a little harder, but otherwise did not notice.
The colleague who made the statement is now the big manager of the group, and is doing fine.
@BiuBiu , just curious. "noticed"? I hope in a good way.
Well except I HAVE been trying to poach people from this and other cohorts :-) SORRY, NOT SORRY.
@Trifele and Loren Ver have been leading 2019 siince I got too busy with being FIREd.
And I was never fearless, but I FIREd anyway and so should all of you.
Post by: GettingClose on October 30, 2019, 02:25:41 PM
Quote
When are you going to pull the plug and at what age? Just for the list, but feel free not to answer if you don't want to.
Waiting to set a date until the sale of our house goes through (set for November 15). Guessing in May or June.
Quote
If you announce your leaving a long time ahead, the company can start planning.
I told the CEO "five more years" about three years ago, and have been training two people to replace me, one for management functions and one for technical.
Quote
IMO it is unlikely that you are the single key to the whole company.If either the CEO or I leave, the success of the company is questionable. I do most sincerely hope you're right.
Post by: alienbogey on October 30, 2019, 11:04:53 PM
My wife gave notice yesterday. Her last day is January 6th, which is a month later than she had hoped but her boss asked her for the extra month.
It was easy for her to say yes because she's really good friends with her boss, who was in sad+happy for her tears before they were done.
I added your wife to the list. Congrats to her.
Are you still planning to stay on to November?
So far. :)
Post by: Linea_Norway on October 31, 2019, 01:42:31 AM
Some years ago, one of my colleagues stated "If so-and-so left ( technical lead/manager), we would be SO screwed". Well, "so-and-so" left, we had to work a little harder, but otherwise did not notice.
The colleague who made the statement is now the big manager of the group, and is doing fine.
I have also experienced this. We used to have a very central system administrator, who I thought was irreplaceable. But one day he quit. I heard rumors that he had done something he wasn't supposed to and was asked to leave immediately. Maybe sexual harassment or something. The company chose to let him go despite him being a valuable resource and the company survived without him.
Post by: Linea_Norway on October 31, 2019, 02:00:52 AM
Well, I am not going to make October. And unlikely to make 2019.
New target is Feb 7 2020.
Job has been pretty enjoyable and there are some big deadlines in play that make leaving early next year a much better proposition. Delaying for a few months is no big deal and I certainly don't want to be burning any bridges.
My original plan was Oct 2018 but discovered I wasn't quite ready when that rolled around so just let OMY syndrome take over. Since then I have crossed the line where I know my time left is more valuable than the money I can make at a job. Got things I want to do while I'm still healthy. I'd like to say while still young but that passed me by a decade or 2 ago.
Health care considerations have definitely the biggest source of anxiety. I was kind of hoping the DW would keep working for benefits, but she did not enjoy her work so she quit at the end of August. We will be maxing out health benefits over the next few months while we still have the cushy plan from my employment and after that we'll just have to launch out into the unknown.
I know that making some kind commitment /deadline will help keep me focused so I don't drag things out any longer than Feb 7. To that end I have rented an apartment in Spain starting in mid February and and going to buy non-refundable airline tickets in the next few days to make sure any backsliding as painful as possible.
As of tomorrow, 100 calendar days, 67 work days left. Each with a smile on my face.
Welcome to the 2020 FIRE cohort, @JumboShrimp .
Smart that you committed to moving away physically. I have seen an early retiree taking OMY and then leaving and after a month or 2 again picking up work for their former employer. Having fun somewhere else hopefully doesn't tempt you to go back to work.
Post by: Freedomin5 on October 31, 2019, 07:29:15 AM
Post by: Linea_Norway on October 31, 2019, 07:34:50 AM
Given our current savings rate and the growth of our net worth, I think we will be FI by 02/2020. :)
Well done. February is there before you know it.
Post by: CrazyIT on October 31, 2019, 08:28:05 AM
For me the closer my date gets the harder it is to stay focused on work related tasks. Not that its a bad thing but having the S&P at an all time high as well as my funds doesn't help either. haha
127 days 6 hours.....around 80 working days. not that I am counting or anything.
Post by: FireLane on October 31, 2019, 12:32:11 PM
As of month's end, I've reached my FIRE target: $1.5M in LNW, almost $1.8M with home equity.
At an extremely safe 3.25% WR, that's $48,000 a year. With no mortgage or other debts, that ought to be more than enough to live on. I'm planning to work just a little longer to top up my cash holdings and pay for some overdue home renovations.
2019 is almost over, and 2020 will be here before we know it. I'm getting excited!
Post by: albireo13 on November 01, 2019, 09:25:00 AM
I was on the 2019 list but, we just moved into our "forever house" this year and have been
spending a lot of money on improvements, while we are still working.
I figure it's an investment in the future so I'll work a bit longer into 2020.
My thought is to give notice in April and see how it goes. They may want me around a few months.
In any case I want to be out in time to enjoy the summer.
I will be 64 so, not exactly RE. My countdown timer shows 212 calendar days! : )
Post by: Linea_Norway on November 01, 2019, 09:33:29 AM
Please add me to the list for June 1, 2020.
I was on the 2019 list but, we just moved into our "forever house" this year and have been
spending a lot of money on improvements, while we are still working.
I figure it's an investment in the future so I'll work a bit longer into 2020.
My thought is to give notice in April and see how it goes. They may want me around a few months.
In any case I want to be out in time to enjoy the summer.
I will be 64 so, not exactly RE. My countdown timer shows 212 calendar days! : )
Welcome to the cohort. Nice that you have found your forever house. I still need to find it.
Just a little question that I have wondered about for a long time. Are you a hobby astronomer, with that user name? I am and hope to get more time in 2020 to spend many hours outside in the middle of the night.
Post by: Maenad on November 01, 2019, 12:13:16 PM
After 20 years of planning, it's scary seeing it come up so fast!
Post by: ysette9 on November 01, 2019, 12:22:09 PM
The last spreadsheet update I did had is $5k short of our number. Yowza
Post by: Linea_Norway on November 01, 2019, 03:08:32 PM
I was just thinking about this thread! DH and I hit FI in the summer, and have been building up cash in preparation for some large expected capital expenses (replacing the driveway, etc.). We did our month-end finances today, and it looks likely that we'll hit our RE number in February. My bonus pays out in March, so once that clears I'll give my notice. Anticipated FIRE date April 3, 2020!
After 20 years of planning, it's scary seeing it come up so fast!
Congrats on reaching your number. I also quit after getting my new payrate that was paid out for the period May-September. And after the last day I need to receive my new pension that has one year minimum employment.
April is far enough away to mentally prepare for it. You might find it in your last months/weeks difficult to concentrate on work and more thinking about FIRE.
Post by: ysette9 on November 01, 2019, 08:47:33 PM
For now, at least. I’m sure girations will pull us back under again, maybe even for a good while. But wow, that seems like a big deal and totally anticlimactic at the same time.
2020 is looking real, folks.
Post by: Linea_Norway on November 01, 2019, 09:05:36 PM
The market heading upward today was just enough to push us over the line. We have officially crossed into FI territory.
For now, at least. I’m sure girations will pull us back under again, maybe even for a good while. But wow, that seems like a big deal and totally anticlimactic at the same time.
2020 is looking real, folks.
Congrats. My DH sometimes things that if the stockmarket goes down when we FIRE, that that should lead to OMY, which I think is nonsense. If you have cash to sit it out during that dip, then it doesn't matter when that inevitable dip will come and go up again.
Post by: ysette9 on November 01, 2019, 09:26:59 PM
In our case we are planning on at least one of us working OMY for various reasons. I had expected to get to this point sometime next year, so we are a little ahead of schedule.
It does feel like we aren’t truly there until we have some more margin in our number though, as things can go down just as easily as they can go up.
Now we really need to get our asset allocation closer to our target!
Post by: bas5252 on November 01, 2019, 09:44:19 PM
Once you have made the decision, have the finances worked out, and set a date, how do you keep your "head in the game"? I won't give notice until Spring, and it is hard to not find many aspects of my job annoying and frustrating. It is going to be a really long 8 months if I can't put aside this feeling of not wanting to go to work every morning. I'm interesting in hearing your strategies.
Post by: Linea_Norway on November 02, 2019, 12:46:31 AM
Hi Everyone. I'm excited to see this thread because I have not told anybody (beside my husband) of my plan to retire July 2020. I have 36 weeks left at my job at BigCorp where I have been for 22 years. I dream of retirement and think about it every day. I'm tied to that date because I turn 55 in July 2020 and my pension will take a significant jump, so it makes financial sense to ride out the next 8 months.
Once you have made the decision, have the finances worked out, and set a date, how do you keep your "head in the game"? I won't give notice until Spring, and it is hard to not find many aspects of my job annoying and frustrating. It is going to be a really long 8 months if I can't put aside this feeling of not wanting to go to work every morning. I'm interesting in hearing your strategies.
Welcome to the cohort.
My strategy is thinking at each annoyance is that at least, I am on my way out and don't need to deal with it forever. I also look forward to the tasks I don't have to do anymore.
Post by: Freedomin5 on November 02, 2019, 03:51:29 PM
Hi Everyone. I'm excited to see this thread because I have not told anybody (beside my husband) of my plan to retire July 2020. I have 36 weeks left at my job at BigCorp where I have been for 22 years. I dream of retirement and think about it every day. I'm tied to that date because I turn 55 in July 2020 and my pension will take a significant jump, so it makes financial sense to ride out the next 8 months.
Once you have made the decision, have the finances worked out, and set a date, how do you keep your "head in the game"? I won't give notice until Spring, and it is hard to not find many aspects of my job annoying and frustrating. It is going to be a really long 8 months if I can't put aside this feeling of not wanting to go to work every morning. I'm interesting in hearing your strategies.
I just focus on the parts of the job I enjoy and find myself tolerating less BS. Interestingly, that has made me a better worker in the eyes of my superior, not worse. I also remind myself that I’d like to finish strong - no sense burning bridges right before you leave.
Post by: ScreamingHeadGuy on November 02, 2019, 03:51:45 PM
Once you have made the decision, have the finances worked out, and set a date, how do you keep your "head in the game"? I won't give notice until Spring, and it is hard to not find many aspects of my job annoying and frustrating. It is going to be a really long 8 months if I can't put aside this feeling of not wanting to go to work every morning. I'm interesting in hearing your strategies.
Adopt a mantra “This, too, shall pass.”
Accept any work related BS as a small price to pay, for a limited time, in return for the rest of your life in freedom.
Channel your inner The Dude.
Post by: bas5252 on November 02, 2019, 08:31:14 PM
I know that 8 months isn't really much in the scheme of it all. Only 36 more Mondays to dread, which does not seem so bad when I think about it. I'm just ready to move on to the next phase on my life!
Post by: Linea_Norway on November 03, 2019, 08:16:33 AM
Thanks for the perspectives!
I know that 8 months isn't really much in the scheme of it all. Only 36 more Mondays to dread, which does not seem so bad when I think about it. I'm just ready to move on to the next phase on my life!
Maybe install a counter program on your phone that counts the remaining Mondays. I have one that shows a fire and counts remaining working days, Mon-Thur in my case. Motivating to look at from time to time.
Post by: FIREby2021 on November 03, 2019, 09:49:39 AM
Aug/Sep/Oct Highlights:
- Steady progress toward meeting our saving and giving goals. Progress continues to be muted due to poor company stock performance relative to the broader market, but I honestly don't mind some stress on the portfolio as we seek to reach our FI number. We have also been spending on some future costs (2020 vacation, knocking out some of our FIRE home remodel projects today vs. 2021, etc.). Anyway, we have finally exceeded 91% progress for the first time.
- Work has been pretty stressful, really since the summer began. We are under-staffed, but there is a real light at the end of the tunnel effective January, so I look forward to that. Lots of good work to be done, and my team is awesome ... just looking forward to being more balanced whereby I can lean more heavily on my team to handle the day-to-day and week-to-week work. I also have a new boss, who seems to be pretty good ... will need to work on laying out my 2020 plans/needs for some remote work again, but I will wait to do that until the turn of the calendar.
- Travel: In order to continue making the most of TODAY, while saving and planning for the FUTURE, we are still in the mode of saying "YES" to most everything that comes our way when it comes to time with friends, family, trips and opportunities, etc. August was an international work trip for me. September we had an awesome vacation to our future FIRE location with some friends. October was full of several long-weekend adventures, celebrating a destination wedding with friends, and visiting our new nephew. November & December will cruise along, as I have another international work trip and we'll be spending time off from work visiting family during the Christmas holidays. 2020 will be here before we all know it!
- As of today, our NW progress covers the following: a paid-off FIRE home, funded FIRE lump sums (giving, renovation budget, new car, etc.) and a WR of 4.29% based on our target annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.).
- Countdown: Assuming monthly progress remains on par with our historic averages, we should reach our WR goal of 3.75% by Q4-2020, but who knows what lies ahead. My whiteboard countdown tracker now shows 16 months to reach our most-likely FIRE target timing of Q1-2021.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% WR, mortgage-free + lump sums funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
JUN 2019 89.3%
JUL 2019 89.6%
AUG 2019 88.6%
SEP 2019 90.3%
OCT 2019 91.2%
Have a great November!
FIREby2021
Post by: ysette9 on November 03, 2019, 10:38:27 AM
Post by: CrazyIT on November 04, 2019, 08:36:34 AM
Hi Everyone. I'm excited to see this thread because I have not told anybody (beside my husband) of my plan to retire July 2020. I have 36 weeks left at my job at BigCorp where I have been for 22 years. I dream of retirement and think about it every day. I'm tied to that date because I turn 55 in July 2020 and my pension will take a significant jump, so it makes financial sense to ride out the next 8 months.
Once you have made the decision, have the finances worked out, and set a date, how do you keep your "head in the game"? I won't give notice until Spring, and it is hard to not find many aspects of my job annoying and frustrating. It is going to be a really long 8 months if I can't put aside this feeling of not wanting to go to work every morning. I'm interesting in hearing your strategies.
Congrats!
I found myself at first the same as you annoyed and frustrated with my job.
I had to have a talk with myself and wake up with a smile every morning. I haven't shared my FIRE date (3/6/2020) with anyone at work yet so its my "little secret". I definitely have been taking the easy road at work and trying to keep the stress level down.
What helps me is to find different milestones to look forward to. Like how many days left, or months, or working days, or biweekly meetings. Other things includes plan health related things and check them off the list (dental, physical, etc.). Also financial things. My house is paid for so I took out a HELOC. I will plan to carry $0 balance but have the money available for 10 years if I ever need it. I have read a couple books on retirement and enjoy planning the future. I have my first grandchild on the way about the time I FIRE. Have plans to travel around with motorhome in a year or two after. All of those occupy my thoughts and help me make it through then next few months.
Today is Monday..... Check one more Monday off the list and move on!
Also being part of this forum helps and is inspiring.
123 days !
Post by: markbike528CBX on November 04, 2019, 12:40:23 PM
https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/
It engenders great piece of mind to know that lots of others have thought this through.
Friendly reminder: It is not to late to join the 2019 cohort. Don't worry, everyone here will be happy for you. :-)
Disclosure: OP of 2019 cohort thread, OLY FIREd in 2018.
Edited:[was 2918, thanks jeroly for the catch, 900 years of OMY would be the definition of hell]
Post by: jeroly on November 04, 2019, 12:45:52 PM
Just a reminder, there is a checklist
https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/
It engenders great piece of mind to know that lots of others have thought this through.
Friendly reminder: It is not to late to join the 2019 cohort. Don't worry, everyone here will be happy for you. :-)
Disclosure: OP of 2019 cohort thread, OLY FIREd in 2918.
https://getyarn.io/yarn-clip/b9dd09dd-61cf-4d7a-a7bf-e70299f40558
(Is he from the future?)
Post by: FIREby2021 on November 04, 2019, 01:55:58 PM
So nice to cross that 90% mark finally :)
Yes, thank you!! You know it! :)
Post by: Sand101 on November 04, 2019, 06:00:18 PM
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% WR, mortgage-free + lump sums funded //
OCT 2019 91.2%
Looking back on my progress your numbers and mine are quite close. I ended up 2018 at 77% and am now at 94%. Funny enough, also settled at using 3.75% as a good WR.
So, good on ya and keep up the good work. It seems as you go I go!
Post by: aspiringnomad on November 04, 2019, 10:31:55 PM
Post by: Linea_Norway on November 04, 2019, 11:23:54 PM
We hit our inflation-adjusted FI number on November 1. Wife gave notice a month ago and will be unemployed in a month. I need to start thinking about giving notice for next year and the logistics of a big cross-ocean move. We've firmly landed on "sabbatical" as our messaging to colleagues, family, and friends rather than "early retirement." Sabbatical is probably more accurate anyway. But shit is getting real.
Sounds like an big plan. Please don't bother to move furniture. Consider the cost of moving against buying this new or second hand at the destination.
On the other hand, I once moved to another country using a sea container with our furniture. That was the cheapest option at that time. We had only two hours to load and unload it.
Post by: tawyer on November 05, 2019, 03:48:06 PM
We hit our inflation-adjusted FI number@aspiringnomad would you care to elaborate on what you mean by this? And congrats. I think we'll also say something like "sabbatical", too.
Post by: albireo13 on November 06, 2019, 11:57:19 AM
Please add me to the list for June 1, 2020.
I was on the 2019 list but, we just moved into our "forever house" this year and have been
spending a lot of money on improvements, while we are still working.
I figure it's an investment in the future so I'll work a bit longer into 2020.
My thought is to give notice in April and see how it goes. They may want me around a few months.
In any case I want to be out in time to enjoy the summer.
I will be 64 so, not exactly RE. My countdown timer shows 212 calendar days! : )
Welcome to the cohort. Nice that you have found your forever house. I still need to find it.
Just a little question that I have wondered about for a long time. Are you a hobby astronomer, with that user name? I am and hope to get more time in 2020 to spend many hours outside in the middle of the night.
Yes I am. I have a few telescopes and have enjoyed the hobby since my childhood. Have made a few telescopes in the past, including grinding my own mirrors.
Star gazing at night is a great way to recover from a bad day at work!
Post by: aspiringnomad on November 06, 2019, 11:15:25 PM
We hit our inflation-adjusted FI number@aspiringnomad would you care to elaborate on what you mean by this? And congrats. I think we'll also say something like "sabbatical", too.
Thanks! I originally targeted our number about six years ago, so I made it a slowly moving target by adding in a 3% annual inflation assumption. Inflation turned out to be less during that span, but I never adjusted that assumption. So our NW target with a 4% SWR crept up about $210k by the time we crossed it last week. I realize that inflation is baked into the SWR assumptions going forward, but it seemed appropriate it to do it prior to reaching our target. The solid reddish line in the graph below is our target number, moving up over time to account for inflation (blue is NW, purple is withdrawal rate, and green is the FI gap).
Post by: aspiringnomad on November 06, 2019, 11:21:18 PM
We hit our inflation-adjusted FI number on November 1. Wife gave notice a month ago and will be unemployed in a month. I need to start thinking about giving notice for next year and the logistics of a big cross-ocean move. We've firmly landed on "sabbatical" as our messaging to colleagues, family, and friends rather than "early retirement." Sabbatical is probably more accurate anyway. But shit is getting real.
Sounds like an big plan. Please don't bother to move furniture. Consider the cost of moving against buying this new or second hand at the destination.
On the other hand, I once moved to another country using a sea container with our furniture. That was the cheapest option at that time. We had only two hours to load and unload it.
Yeah, I'm leaning heavily against moving any furniture with us. We do have one heavy sentimental piece but it's currently in a friend's garage anyway. I might cost out container vs. replacement at some point, but it's certainly less of a hassle to just buy new furniture post-move.
Post by: Linea_Norway on November 07, 2019, 12:38:55 AM
Please add me to the list for June 1, 2020.
I was on the 2019 list but, we just moved into our "forever house" this year and have been
spending a lot of money on improvements, while we are still working.
I figure it's an investment in the future so I'll work a bit longer into 2020.
My thought is to give notice in April and see how it goes. They may want me around a few months.
In any case I want to be out in time to enjoy the summer.
I will be 64 so, not exactly RE. My countdown timer shows 212 calendar days! : )
Welcome to the cohort. Nice that you have found your forever house. I still need to find it.
Just a little question that I have wondered about for a long time. Are you a hobby astronomer, with that user name? I am and hope to get more time in 2020 to spend many hours outside in the middle of the night.
Yes I am. I have a few telescopes and have enjoyed the hobby since my childhood. Have made a few telescopes in the past, including grinding my own mirrors.
Star gazing at night is a great way to recover from a bad day at work!
Cool, making your own mirrors. I am not there yet. I just have 2 shop-bought scopes, but have a book about telescope building that I hope to do some day. Because of the home sale, my scopes are currently stored 5 hours driving away from home at our cabin. There the skies are mega-dark, with very often a bit of northern light pollution just above the northern horizon. E.g. I never manage to see M101 at home, but at the cabin it is very clearly visible with a 5" scope.
Even though the hobby itself is relaxing, I find it a bit challenging to spend a night stargazing at home and having to work the next day. And for some reason the skies are often clearest on Sunday night. So I hope that I can pick up the hobby again in January when I have quit working.
Post by: tawyer on November 07, 2019, 03:40:07 PM
We hit our inflation-adjusted FI number@aspiringnomad would you care to elaborate on what you mean by this? And congrats. I think we'll also say something like "sabbatical", too.
Thanks! I originally targeted our number about six years ago, so I made it a slowly moving target by adding in a 3% annual inflation assumption. Inflation turned out to be less during that span, but I never adjusted that assumption. So our NW target with a 4% SWR crept up about $210k by the time we crossed it last week. I realize that inflation is baked into the SWR assumptions going forward, but it seemed appropriate it to do it prior to reaching our target. The solid reddish line in the graph below is our target number, moving up over time to account for inflation (blue is NW, purple is withdrawal rate, and green is the FI gap).
Nice. We have a similar plot but with an annual reassessment of what our expenses will be: they keep decreasing in real terms, which probably won't go on for much longer.
Post by: SugarMountain on November 12, 2019, 10:20:26 AM
Post by: ysette9 on November 12, 2019, 10:52:29 AM
Post by: Linea_Norway on November 12, 2019, 12:19:50 PM
01/01/2020 firebrand's official day (fired in practice a few weeks earlier)
01/01/2020 Nancy
01/2020 Farmgirl (@61)
01/2020 Now-non
01/06/2020 alienbogey's wife
01/15/2020 Nickel (@55)
01/2020 or 07/2020 SugerMountain
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
03/01/2020 Katmandew (@54)
02/2020 Freedomin5 (@38)
03/06/2020 CrazyIT
03/2020 FInding_peace (@38)
03/2020 rab-bit (@58)
03/2020 TheContinaltalOp
03-04/2020 Padonak
03-04+2/2020 Beeboy (@46)
04/03/2020 Maenad
04/2020 DreamFIRE
04/2020 Exit2019
04/2020 Itchyfeet
04/2020 Pennycounter
04-05/2020 aspiringnomad (@37)
04-12/2020 robtown
05/2020 Body Surfer
05/2020 Lady Stash (@45)
05/01/2020 Much fishing to do
05/2020 Rcc
06/05/2020 thelyon19
06/01/2020 Albireo13 (@64)
06/2020 ixtap (date uncertain)
07/2020 bas5252 (@55)
07/2020 2sk22
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07-12/2020 MMM123
08/2020 Bateaux
10/2020 Rubyvroom
11/01/2020 Alienbogey
12/202? desk_jockey
12/31/2020 BFGirl
12/2020 david_shin
12/2020 MoneyTree (@36)
12/2020 Nora (@42)
12/2020 Sand101
12/2020 TheFIExplorer
12/2020 ysette9 (@38)
??/202? Gumption
??/2020 EscapeVelocity2020
??/2020 apurplelife
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
??/2020 FIREstache (@55)
??/2020 LadyMaWhiskers
??/2020 letsdoit
??/2020 onlykelsey
??/2020 tooqk4u22
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Linea_Norway on November 12, 2019, 12:23:02 PM
Welp, since I've told the 2019 cohort that I'm out of that one, it looks like I've moved into this one. Probably either January or July. (You're my 3rd cohort, so don't get too attached. lol. I actually did pull the trigger in 2018, but got talked into staying.)
Welcome!
January is approaching fast. Do you fancy to work half a year extra or not? You obviously have the cash if you already made an attempt to FIRE earlier.
Post by: Body Surfer on November 14, 2019, 05:28:55 PM
Post by: SugarMountain on November 14, 2019, 07:45:39 PM
Welp, since I've told the 2019 cohort that I'm out of that one, it looks like I've moved into this one. Probably either January or July. (You're my 3rd cohort, so don't get too attached. lol. I actually did pull the trigger in 2018, but got talked into staying.)
Welcome!
January is approaching fast. Do you fancy to work half a year extra or not? You obviously have the cash if you already made an attempt to FIRE earlier.
Don't know. Financially there is a decent incentive to keep working, but at some point enough is enough.
Post by: exit2019 on November 14, 2019, 08:01:31 PM
I work for a large company that is extremely political in a pretty high profile individual contributor role. This place is full of jackals. I really cannot wait to get out.
Post by: Linea_Norway on November 15, 2019, 04:07:36 AM
Welp, since I've told the 2019 cohort that I'm out of that one, it looks like I've moved into this one. Probably either January or July. (You're my 3rd cohort, so don't get too attached. lol. I actually did pull the trigger in 2018, but got talked into staying.)
Welcome!
January is approaching fast. Do you fancy to work half a year extra or not? You obviously have the cash if you already made an attempt to FIRE earlier.
Don't know. Financially there is a decent incentive to keep working, but at some point enough is enough.
There is always a financial incentive to keep working, especially in a well paid job. But look at the number of years you have left as a person in hopefully good health. At a certain moment more money isn't worth it any more, being tied up in a job instead of doing your own thing.
Post by: Linea_Norway on November 15, 2019, 04:09:04 AM
I bailed on 2019 because I lost my nerve, mostly around health of my spouse who was in the middle of a very bad issue that could have left them disabled, which got resolved fine, thankfully. Still very nervous about health and trying to decide whether to COBRA or not, but no way am I not taking the exit ramp in April.
I work for a large company that is extremely political in a pretty high profile individual contributor role. This place is full of jackals. I really cannot wait to get out.
Healthcare is a good reason to reconsider OMY. Good that your spouse got better.
Post by: albireo13 on November 20, 2019, 06:52:10 AM
Please add me to the list for June 1, 2020.
I was on the 2019 list but, we just moved into our "forever house" this year and have been
spending a lot of money on improvements, while we are still working.
I figure it's an investment in the future so I'll work a bit longer into 2020.
My thought is to give notice in April and see how it goes. They may want me around a few months.
In any case I want to be out in time to enjoy the summer.
I will be 64 so, not exactly RE. My countdown timer shows 212 calendar days! : )
Welcome to the cohort. Nice that you have found your forever house. I still need to find it.
Just a little question that I have wondered about for a long time. Are you a hobby astronomer, with that user name? I am and hope to get more time in 2020 to spend many hours outside in the middle of the night.
Yes I am. I have a few telescopes and have enjoyed the hobby since my childhood. Have made a few telescopes in the past, including grinding my own mirrors.
Star gazing at night is a great way to recover from a bad day at work!
Cool, making your own mirrors. I am not there yet. I just have 2 shop-bought scopes, but have a book about telescope building that I hope to do some day. Because of the home sale, my scopes are currently stored 5 hours driving away from home at our cabin. There the skies are mega-dark, with very often a bit of northern light pollution just above the northern horizon. E.g. I never manage to see M101 at home, but at the cabin it is very clearly visible with a 5" scope.
Even though the hobby itself is relaxing, I find it a bit challenging to spend a night stargazing at home and having to work the next day. And for some reason the skies are often clearest on Sunday night. So I hope that I can pick up the hobby again in January when I have quit working.
I agree. I find it hard sometimes to go out star gazing as I get older. I find my self too tired most days, especially if I have wine or beer in the evening.
That plus our crummy local weather.
I recommend solar viewing! Do it in the daytime … you're not tired and it is warmer.
: )
I also hope to get more involved after I retire. My job sucks the energy out of me.
Post by: Freedomin5 on November 20, 2019, 07:04:17 AM
Once we hit our number, I can tell myself that I can leave anytime I want and I don’t need to put up with snark and envy.
Post by: tipster350 on November 20, 2019, 09:31:07 AM
BTW the advisor was impressed with my plan and knowledge :) . Made me feel good.
Post by: Linea_Norway on November 20, 2019, 10:46:12 AM
I met with a financial advisor free to me through a work benefit and he offered a compelling case fir being able to FIRE in 2020. I was thinking 2021. I'm giving it serious consideration as the job is getting mire stressful and awful by the day.
BTW the advisor was impressed with my plan and knowledge :) . Made me feel good.
Welcome to this cohort, even as you are not sure yet.
Many people retire later than necessary. It is supposedly quite easy to make some money after FIRE. So why not take the chance if your job is so awful. Stress is very bad for your health and you know that. Good luck whatever you decide.
Post by: ScreamingHeadGuy on November 20, 2019, 05:38:23 PM
Once we hit our number, I can tell myself that I can leave anytime I want and I don’t need to put up with snark and envy.
That is true power. Once you have the stache, though, it is also way easier to let those annoyances just roll off (because you don’t need to take that crap, and it’s easier to, mentally, not take it).
Still, I do fantasize about totally flipping out at the slightest thing - just to see others’ reactions. (“Good morning.” “Fuck you, Susan, and fuck your morning, too!” /flip a table and set it on fire)
Post by: CrazyIT on November 21, 2019, 10:43:18 AM
Once we hit our number, I can tell myself that I can leave anytime I want and I don’t need to put up with snark and envy.
That is true power. Once you have the stache, though, it is also way easier to let those annoyances just roll off (because you don’t need to take that crap, and it’s easier to, mentally, not take it).
Still, I do fantasize about totally flipping out at the slightest thing - just to see others’ reactions. (“Good morning.” “Fuck you, Susan, and fuck your morning, too!” /flip a table and set it on fire)
Me too! had a dream about that last night. Today is our holiday potluck so I need to behave myself. The Movie Office Space comes to mind often....two screws and my cube wall is on its way down!
Post by: Nancy on November 24, 2019, 07:28:40 PM
Aiming for 2020 here as well. My plan is to keep my spending level the same (or reduce it with tips gleaned from the MMM community), increase amount I invest every year, enjoy biking/gardening/inexpensive fun time with fam and friends, and hopefully stay alive. Onward!
Hey, friends! I left the forum a few years ago when I started spending less time online. I recreated my account to say that we did it. We'll RE on 1/1/2020 so we can travel. I'll almost certainly work part-time (15 hrs/week) again in the future because I absolutely love what I do. Here's to still being alive!
Post by: Linea_Norway on November 24, 2019, 11:54:03 PM
Aiming for 2020 here as well. My plan is to keep my spending level the same (or reduce it with tips gleaned from the MMM community), increase amount I invest every year, enjoy biking/gardening/inexpensive fun time with fam and friends, and hopefully stay alive. Onward!
Hey, friends! I left the forum a few years ago when I started spending less time online. I recreated my account to say that we did it. We'll RE on 1/1/2020 so we can travel. I'll almost certainly work part-time (15 hrs/week) again in the future because I absolutely love what I do. Here's to still being alive!
:-) Same day as my official last day (per contract). Welcome to the cohort.
Post by: Linea_Norway on November 27, 2019, 12:47:49 AM
It was nice to hear from someone who prioritizes fancy cars herself that she could see my perspective as well.
Post by: Nancy on November 27, 2019, 06:26:29 AM
Post by: CrazyIT on November 27, 2019, 07:49:59 AM
Man word travels fast at my company.
Bonus: I work for an employee owned company where we all hold some stock. Just found out the stock price went up 37% this year. That helps FIRE too!
Post by: markbike528CBX on November 27, 2019, 12:33:07 PM
However, if you leave before the holidays, and never go back, a retroactive addition to the 2019 cohort will be accepted.
Sincerely
Markbike528CBX, of the 2019 cohort
Post by: ysette9 on November 27, 2019, 03:28:04 PM
It is getting to be a short time for you 2020'ers to see the light and join the 2019 cohort.My maternity leave runs through the beginning of January so at a minimum I want to collect all of those benefits. :) I admit that when my part time work proposal was denied there was part of me that wanted to tell them to stuff it and quit then on the spot.
However, if you leave before the holidays, and never go back, a retroactive addition to the 2019 cohort will be accepted.
Sincerely
Markbike528CBX, of the 2019 cohort
But the calmer and more rational part of me knows it makes sense to hold out through April as my husband will be on his paternity leave then. I can continue to work full time so long as I have him home.
Post by: Linea_Norway on November 28, 2019, 12:31:41 AM
It is getting to be a short time for you 2020'ers to see the light and join the 2019 cohort.
However, if you leave before the holidays, and never go back, a retroactive addition to the 2019 cohort will be accepted.
Sincerely
Markbike528CBX, of the 2019 cohort
As you know, I am already in both cohorts with 12th of Dec as my last actual working day and 1rst of Jan as my first official day as unemployed.
Post by: FIREby2021 on December 01, 2019, 12:15:34 PM
November Highlights:
- Bleep-bloop-bleep, methodical progress continues toward our goal. Company stock performance continues to be a drag relative to the broader market; some good old-fashioned stress testing on the portfolio as we collect dividends along the way. We chose to spend some toward a future cost this month (FIRE home remodel).
- Work was pretty good this month, and I was able to turn an international business trip into a fun adventure. December should go by pretty quickly with vacation time and the holiday slowness. My new boss is turning out to be pretty good ... I will need decide when/how to lay out my 2020 plan/need for remote work again.
- As of today, our NW progress covers: paid-off FIRE home, funded FIRE lump sums (giving, renovation budget, new car, etc.) and a WR of 4.24% based on our target annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.).
- Countdown: Assuming monthly progress remains on par with our historic averages, we should reach our WR goal of 3.75% by Q4-2020, but who knows what lies ahead! My whiteboard countdown tracker now shows 15 months left before our most-likely FIRE target timing of Q1-2021.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
// FI target defined as 3.75% WR, mortgage-free + lump sums funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
JUN 2019 89.3%
JUL 2019 89.6%
AUG 2019 88.6%
SEP 2019 90.3%
OCT 2019 91.2%
NOV 2019 92.0%
Have a great December ... Happy Holidays, Merry Christmas and Happy New Year!
FIREby2021
Post by: Nickel on December 02, 2019, 07:24:40 PM
I have enjoyed reading the stories here. They encourage and inspire. Cheers to you all.
Practiced law for 29 years. Always stressful, sometimes exhilarating. Over time, it became a grind.
Age 55. Spouse & 3 kids. Paid off house and about $2M in 401K. Rule of 55 allows for withdrawal without penalty. Asset allocation is now 55/45. It was 100/0 until about 5 years ago. Easier to be brave when you're still earning.
Have not seen many retirees here who had almost all their money tied up in tax deferred accounts (and a house). We plan to withdraw about $65K/year. Income and property taxes will consume at least $15K of that total. Social security will supplement at some point.
Spouse is still working a seasonal job in a tourist shop for fun money (~$10K/year). She has winters off, and only summer is close to full time. That leaves plenty of time for other activities.
I intend to relax, get healthier and travel. Got my passport again for the first time since living in Europe at age 21. Also plan to tackle old house projects, work on family-shared rural property (where I grew up with six siblings), and spend time with/help out our kids, friends and parents.
Age 55 may not be early by MMM standards, but I'll take it. My process was partly inspired by this song and the realization that I was not managing an acceptable work/life balance:
Time why you punish me
Like a wave bashing into the shore
You wash away my dreams
Time why you walk away
Like a friend with somewhere to go
You left me crying
Hootie and the Blowfish
https://www.youtube.com/watch?v=oFLysouG86I
Post by: Linea_Norway on December 03, 2019, 01:08:49 AM
Please add me to the list. Last day: 1/15/2020.
I have enjoyed reading the stories here. They encourage and inspire. Cheers to you all.
Practiced law for 29 years. Always stressful, sometimes exhilarating. Over time, it became a grind.
Age 55. Spouse & 3 kids. Paid off house and about $2M in 401K. Rule of 55 allows for withdrawal without penalty. Asset allocation is now 55/45. It was 100/0 until about 5 years ago. Easier to be brave when you're still earning.
Have not seen many retirees here who had almost all their money tied up in tax deferred accounts (and a house). We plan to withdraw about $65K/year. Income and property taxes will consume at least $15K of that total. Social security will supplement at some point.
Spouse is still working a seasonal job in a tourist shop for fun money (~$10K/year). She has winters off, and only summer is close to full time. That leaves plenty of time for other activities.
I intend to relax, get healthier and travel. Got my passport again for the first time since living in Europe at age 21. Also plan to tackle old house projects, work on family-shared rural property (where I grew up with six siblings), and spend time with/help out our kids, friends and parents.
Age 55 may not be early by MMM standards, but I'll take it. My process was partly inspired by this song and the realization that I was not managing an acceptable work/life balance:
Time why you punish me
Like a wave bashing into the shore
You wash away my dreams
Time why you walk away
Like a friend with somewhere to go
You left me crying
Hootie and the Blowfish
https://www.youtube.com/watch?v=oFLysouG86I
Welcome.
Especially when you get a bit older, it is not worth wasting your life working for money that you don't need, if you would rather do something else with your time.
Of course this is also true when you are younger, but then it is often not so easy to be able to afford to retire. In my case, my younger years were the building up phase.
Post by: 2sk22 on December 03, 2019, 02:27:45 AM
Time why you punish me
Like a wave bashing into the shore
You wash away my dreams
Time why you walk away
Like a friend with somewhere to go
You left me crying
Hootie and the Blowfish
Welcome @Nickel - since you quoted a great song, let me contribute one of my favorites :-)
And you run, and you run to catch up with the sun, but it's sinking
Racing around to come up behind you again
The sun is the same in a relative way, but you're older
Shorter of breath, and one day closer to death
Every year is getting shorter, never seem to find the time
Plans that either come to naught or half a page of scribbled lines
Time by Pink Floyd
Post by: AO1FireTo on December 03, 2019, 07:25:54 AM
Time why you punish me
Like a wave bashing into the shore
You wash away my dreams
Time why you walk away
Like a friend with somewhere to go
You left me crying
Hootie and the Blowfish
Welcome @Nickel - since you quoted a great song, let me contribute one of my favorites :-)
And you run, and you run to catch up with the sun, but it's sinking
Racing around to come up behind you again
The sun is the same in a relative way, but you're older
Shorter of breath, and one day closer to death
Every year is getting shorter, never seem to find the time
Plans that either come to naught or half a page of scribbled lines
Time by Pink Floyd
Wow songs that inspire you to be FI and retire early could be it's own thread. Here's mine...
I've long since retired and my son's moved away
I called him up just the other day
I said, I'd like to see you if you don't mind
He said, I'd love to, dad, if I could find the time
You see, my new job's a hassle, and the kids have the flu
But it's sure nice talking to you, dad
It's been sure nice talking to you
And as I hung up the phone, it occurred to me
He'd grown up just like me
My boy was just like me
And the cat's in the cradle and the silver spoon
Little boy blue and the man in the moon
"When you coming home, son?" "I don't know when"
But we'll get together then, dad
We're gonna have a good time then
Harry Chapin
Post by: CrazyIT on December 03, 2019, 08:39:02 AM
Please add me to the list. Last day: 1/15/2020.
I have enjoyed reading the stories here. They encourage and inspire. Cheers to you all.
Practiced law for 29 years. Always stressful, sometimes exhilarating. Over time, it became a grind.
Age 55. Spouse & 3 kids. Paid off house and about $2M in 401K. Rule of 55 allows for withdrawal without penalty. Asset allocation is now 55/45. It was 100/0 until about 5 years ago. Easier to be brave when you're still earning.
Have not seen many retirees here who had almost all their money tied up in tax deferred accounts (and a house). We plan to withdraw about $65K/year. Income and property taxes will consume at least $15K of that total. Social security will supplement at some point.
Spouse is still working a seasonal job in a tourist shop for fun money (~$10K/year). She has winters off, and only summer is close to full time. That leaves plenty of time for other activities.
I intend to relax, get healthier and travel. Got my passport again for the first time since living in Europe at age 21. Also plan to tackle old house projects, work on family-shared rural property (where I grew up with six siblings), and spend time with/help out our kids, friends and parents.
Age 55 may not be early by MMM standards, but I'll take it. My process was partly inspired by this song and the realization that I was not managing an acceptable work/life balance:
Time why you punish me
Like a wave bashing into the shore
You wash away my dreams
Time why you walk away
Like a friend with somewhere to go
You left me crying
Hootie and the Blowfish
https://www.youtube.com/watch?v=oFLysouG86I
Welcome Nickel!
Yeah I'm 55 and the youngest of 6 kids. I'll be the first to retire in my family. No one else is even talking about it. This is a great community for support. Thanks for joining. Your retirement plans sound nice!
More money than time....
94 days to go....not that I'm counting or anything.
Post by: RedefinedHappiness on December 03, 2019, 08:47:55 AM
Post by: Nickel on December 03, 2019, 11:22:36 AM
One of the better times to do a larger Roth conversion is probably after the market has had a major correction. Wish I had done it in 2009. Yes, it would be a kind of market timing, but it seems like a different kind.
Now that I'm done, there is a different focus on potential tax strategies, including Roth, HSA, ACA, 529, potentially moving to Vancouver (no state income tax), etc. Because my spouse still has some W-2 income, we may put some it into an IRA to avoid exceeding the ACA income limits while converting some other money to Roth.
Go Curry Cracker has some of the best tax avoidance strategies. Part of our challenge is how to get enough $ out of the 401K before age 70.5 to avoid excessive mandatory withdrawals. Federal income tax rates may never be a low as they are now.
Post by: Nickel on December 03, 2019, 12:05:44 PM
Time why you punish me
Like a wave bashing into the shore
You wash away my dreams
Time why you walk away
Like a friend with somewhere to go
You left me crying
Hootie and the Blowfish
Welcome @Nickel - since you quoted a great song, let me contribute one of my favorites :-)
And you run, and you run to catch up with the sun, but it's sinking
Racing around to come up behind you again
The sun is the same in a relative way, but you're older
Shorter of breath, and one day closer to death
Every year is getting shorter, never seem to find the time
Plans that either come to naught or half a page of scribbled lines
Time by Pink Floyd
Wow songs that inspire you to be FI and retire early could be it's own thread. Here's mine...
I've long since retired and my son's moved away
I called him up just the other day
I said, I'd like to see you if you don't mind
He said, I'd love to, dad, if I could find the time
You see, my new job's a hassle, and the kids have the flu
But it's sure nice talking to you, dad
It's been sure nice talking to you
And as I hung up the phone, it occurred to me
He'd grown up just like me
My boy was just like me
And the cat's in the cradle and the silver spoon
Little boy blue and the man in the moon
"When you coming home, son?" "I don't know when"
But we'll get together then, dad
We're gonna have a good time then
Harry Chapin
2sk22 and princeradar: Perfect lyrics. Retirement inspired songs would be a good thread.
Linea_Norway: Thanks for sharing your own journey elsewhere in the forum. If I had not found MMM and FIRE, I probably would have worked another 10 years and regretted it. Growing up in financially modest families, my spouse and I never developed a taste for luxuries. We wasted money on some silly stuff, but nothing ridiculous. Eventually, we accepted one of the greatest gifts the universe could give: "the knowledge of knowing we've got enough."
https://medium.com/@bobsutton/kurt-vonnegut-joe-heller-and-a-thanksgiving-message-8a31ca397888
Joe Heller
True story, Word of Honor:
Joseph Heller, an important and funny writer
now dead,
and I were at a party given by a billionaire
on Shelter Island.
I said, “Joe, how does it make you feel
to know that our host only yesterday
may have made more money
than your novel ‘Catch-22’
has earned in its entire history?”
And Joe said, “I’ve got something he can never have.”
And I said, “What on earth could that be, Joe?”
And Joe said, “The knowledge that I’ve got enough.”
Not bad! Rest in peace!”
— Kurt Vonnegut
The New Yorker, May 16th, 2005
Post by: ATS on December 03, 2019, 02:42:55 PM
Solsbury Hill
Peter Gabriel, Lou Reed
Climbing up on Solsbury Hill
I could see the city light
Wind was blowing, time stood still
Eagle flew out of the night
He was something to observe
Came in close, I heard a voice
Standing stretching every nerve
Had to listen had no choice
I did not believe the information
I just had to trust imagination
My heart going boom boom boom
"Son," he said, "Grab your things, I've come to take you home."
To keepin' silence I resigned
My friends would think I was a nut
Turning water into wine
Open doors would soon be shut
So I went from day to day
Tho' my life was in a rut
'Till I thought of what I'd say
Which connection I should cut
I was feeling part of the scenery
I walked right out of the machinery
My heart going boom boom boom
"Hey," he said, "grab your things, I've come to take you home."
When illusion spin her net
I'm never where I want to be
And liberty she pirouette
When I think that I am free
Watched by empty silhouettes
Who close their eyes,but still can see
No one taught them etiquette
I will show another me
Today I don't need a replacement
I'll tell them what the smile on my face meant
My heart going boom boom boom
"Hey," I said, "You can keep my things, they've come to take me home."
Post by: Nickel on December 03, 2019, 04:33:21 PM
My FIRE song contribution is Solsbury Hill by Peter Gabriel - which I choose to interpret as having the courage to letting go of the boring and safe status quo to risk reaching for something better
Solsbury Hill
Peter Gabriel, Lou Reed
Climbing up on Solsbury Hill
I could see the city light
Wind was blowing, time stood still
Eagle flew out of the night
He was something to observe
Came in close, I heard a voice
Standing stretching every nerve
Had to listen had no choice
I did not believe the information
I just had to trust imagination
My heart going boom boom boom
"Son," he said, "Grab your things, I've come to take you home."
To keepin' silence I resigned
My friends would think I was a nut
Turning water into wine
Open doors would soon be shut
So I went from day to day
Tho' my life was in a rut
'Till I thought of what I'd say
Which connection I should cut
I was feeling part of the scenery
I walked right out of the machinery
My heart going boom boom boom
"Hey," he said, "grab your things, I've come to take you home."
When illusion spin her net
I'm never where I want to be
And liberty she pirouette
When I think that I am free
Watched by empty silhouettes
Who close their eyes,but still can see
No one taught them etiquette
I will show another me
Today I don't need a replacement
I'll tell them what the smile on my face meant
My heart going boom boom boom
"Hey," I said, "You can keep my things, they've come to take me home."
Spot on. Pete's decision to leave Genesis.
I binge-listened to Solsbury Hill about 6-7 months ago, with an appreciation for it that I never had as a kid. Great song.
Post by: FireLane on December 03, 2019, 06:46:15 PM
I have a contribution. My 3-year-old doesn't have a lot of exposure to Disney, but he likes the original Pete's Dragon movie with Helen Reddy. This song from the movie makes an excellent FIRE anthem:
Quote
It's a Brazzle Dazzle day,
So throw off the past and everything in it,
That's the Brazzle Dazzle way,
Enjoying your time, from minute to minute,
Running through the sand without your shoes on,
Making sure that you don't keep your blues on,
Finding a boat we can cruise on
It's a Brazzle Dazzle day,
When you think of love and never of sorrow,
That's the Brazzle Dazzle way,
To do your work now and take off tomorrow,
Flying through the air, you don't need wings on,
Climb right up and feel the thrill it brings on,
Flock with the wind as it sings on.
Ride higher and higher and glide above the clouds,
Free! No one to catch us or slow us,
Even the birds are below us!
It's a Brazzle Dazzle day,
A lifetime of joy in just a few hours,
All our Brazzle Dazzle years have just begun,
We'll follow the sun and replay,
This Brazzle Dazzle day!
https://www.youtube.com/watch?v=AMULczmw6Vc
Post by: AO1FireTo on December 03, 2019, 07:22:28 PM
Post by: Linea_Norway on December 04, 2019, 12:58:46 AM
First a couple (around 40 I think) who sold everything they owned. Bought a rental apartment and a small camper van. They rent out their rental and live fulltime in their camper van. They drive around through the country and do some occasional jobs here and there to be able to sleep in a house sometimes. They were having a great time. They owned almost nothing anymore and were happier than they had ever been before. If they would ever decide to work again, it wouldn't be in the same way they did earlier.
The other program was about a 50-ish year old woman who was fed up by paying most of her income on renting an apartment in the capitol. She bought a little mountain cabin a few hours driving from Oslo and lives there without running water. She has to carry her things in a sledge from the car to the cabin, pulling maybe a kilometer or so. She is happy as a child when she is there. Sitting in the morning sun on her cabin doorstep. Working a little bit online on her laptop. Running outside, chopping wood for the stove.
These are all people who have chosen not to keep working their high paid jobs, but chose to live the simple life with low spend, but with the best experiences. That is my goal in FIRE too, living a low spend, low environmental footprint life with low stress, but good experiences.
Post by: AO1FireTo on December 04, 2019, 06:28:32 AM
I currently can't recall a FIRE song, but I regularly see Norwegian TV programs that fit so well my FIRE mindset.
First a couple (around 40 I think) who sold everything they owned. Bought a rental apartment and a small camper van. They rent out their rental and live fulltime in their camper van. They drive around through the country and do some occasional jobs here and there to be able to sleep in a house sometimes. They were having a great time. They owned almost nothing anymore and were happier than they had ever been before. If they would ever decide to work again, it wouldn't be in the same way they did earlier.
The other program was about a 50-ish year old woman who was fed up by paying most of her income on renting an apartment in the capitol. She bought a little mountain cabin a few hours driving from Oslo and lives there without running water. She has to carry her things in a sledge from the car to the cabin, pulling maybe a kilometer or so. She is happy as a child when she is there. Sitting in the morning sun on her cabin doorstep. Working a little bit online on her laptop. Running outside, chopping wood for the stove.
There are all people who have chosen not to keep working their high paid jobs, but chose to live the simple life with low spend, but with the best experiences. They is my goal in FIRE too, living a low spend, low environmental footprint life with low stress, but good experiences.
Wow these are great examples of changing your life and priorities and not really caring what other people think. At the end of the day, you start to become slaves to your things and your job. If you can find the videos and post the link it would be great.
Post by: Linea_Norway on December 04, 2019, 12:30:14 PM
I currently can't recall a FIRE song, but I regularly see Norwegian TV programs that fit so well my FIRE mindset.
First a couple (around 40 I think) who sold everything they owned. Bought a rental apartment and a small camper van. They rent out their rental and live fulltime in their camper van. They drive around through the country and do some occasional jobs here and there to be able to sleep in a house sometimes. They were having a great time. They owned almost nothing anymore and were happier than they had ever been before. If they would ever decide to work again, it wouldn't be in the same way they did earlier.
The other program was about a 50-ish year old woman who was fed up by paying most of her income on renting an apartment in the capitol. She bought a little mountain cabin a few hours driving from Oslo and lives there without running water. She has to carry her things in a sledge from the car to the cabin, pulling maybe a kilometer or so. She is happy as a child when she is there. Sitting in the morning sun on her cabin doorstep. Working a little bit online on her laptop. Running outside, chopping wood for the stove.
There are all people who have chosen not to keep working their high paid jobs, but chose to live the simple life with low spend, but with the best experiences. They is my goal in FIRE too, living a low spend, low environmental footprint life with low stress, but good experiences.
Wow these are great examples of changing your life and priorities and not really caring what other people think. At the end of the day, you start to become slaves to your things and your job. If you can find the videos and post the link it would be great.
I doubt whether you are allowed to watch it, as you don't pay the national TV license.
https://tv.nrk.no/serie/norge-rundt/2019/DVNR04004819/avspiller
The one called "uten fast bopel", which means "without fixed address", which you can use to register yourself in the national address register. The program has short meetings with the couple and lots of other stuff in between.
https://tv.nrk.no/serie/der-ingen-skulle-tru-at-nokon-kunne-bu/2019/DVSF65100219/avspiller
The program called Blefjell.
Post by: AO1FireTo on December 04, 2019, 01:37:02 PM
I currently can't recall a FIRE song, but I regularly see Norwegian TV programs that fit so well my FIRE mindset.
First a couple (around 40 I think) who sold everything they owned. Bought a rental apartment and a small camper van. They rent out their rental and live fulltime in their camper van. They drive around through the country and do some occasional jobs here and there to be able to sleep in a house sometimes. They were having a great time. They owned almost nothing anymore and were happier than they had ever been before. If they would ever decide to work again, it wouldn't be in the same way they did earlier.
The other program was about a 50-ish year old woman who was fed up by paying most of her income on renting an apartment in the capitol. She bought a little mountain cabin a few hours driving from Oslo and lives there without running water. She has to carry her things in a sledge from the car to the cabin, pulling maybe a kilometer or so. She is happy as a child when she is there. Sitting in the morning sun on her cabin doorstep. Working a little bit online on her laptop. Running outside, chopping wood for the stove.
There are all people who have chosen not to keep working their high paid jobs, but chose to live the simple life with low spend, but with the best experiences. They is my goal in FIRE too, living a low spend, low environmental footprint life with low stress, but good experiences.
Wow these are great examples of changing your life and priorities and not really caring what other people think. At the end of the day, you start to become slaves to your things and your job. If you can find the videos and post the link it would be great.
I doubt whether you are allowed to watch it, as you don't pay the national TV license.
https://tv.nrk.no/serie/norge-rundt/2019/DVNR04004819/avspiller
The one called "uten fast bopel", which means "without fixed address", which you can use to register yourself in the national address register. The program has short meetings with the couple and lots of other stuff in between.
https://tv.nrk.no/serie/der-ingen-skulle-tru-at-nokon-kunne-bu/2019/DVSF65100219/avspiller
The program called Blefjell.
Works great from here in Canada :)
Now I just have to learn Norwegian!!!!!!!!!!!
Post by: thelyon19 on December 05, 2019, 12:55:06 AM
Post by: Linea_Norway on December 05, 2019, 01:02:54 AM
Have been hesistant to put this in writing, but I think we're going to do it. Retire from the J-O-Bs. Not sure it will be forever, but as of right now, we are counting down to June 5, 2020. Dude.
Welcome to the cohort. And congrats on making the plan to quit jobs. Planning to quit a job feels liberating.
You are totally allowed to change your plans or to do some more money making activities in the future.
Post by: Nancy on December 05, 2019, 07:22:29 AM
You are totally allowed to change your plans or to do some more money making activities in the future.
I totally agree! Mostly because change is constant, and I've never gotten the knack of predicting the future. I find it better to keep an open and flexible mind.
Post by: itchyfeet on December 05, 2019, 09:28:22 AM
Encouraging and motivating stuff.
Post by: ysette9 on December 06, 2019, 03:53:30 PM
Post by: Linea_Norway on December 07, 2019, 12:33:34 AM
My return to work date after this maternity leave is my 38th birthday: 8 Jan 2020. I am increasingly less enamored with the idea of working. I don’t really want to be a SAHP either, but I have pretty much no enthusiasm for the idea of returning to my old job. Thank goodness it doesn’t have to be for the next 20 years or I would really be in a pickle.
You will only be 30. Many of us others have had to deal with this job thing a lot longer.
But in my case too. If I would ever need to go back to work because our FIRE plan was too optimistic, I wouldn't want to work in an equally stressful job.
Post by: MarcherLady on December 07, 2019, 03:15:26 AM
Hub stopped work just over a year ago when he got redundancy from the company we both work/worked at. I had been planning to quit in July 2020, but have decided I'm probably pulling the trigger and will be FIREd by late Jan.
Post by: Linea_Norway on December 07, 2019, 07:05:23 AM
Hi all, nice to meet you. I think (pending the state of the stock market after the UK General Election next week) that I am handing in my notice just after Christmas.
Hub stopped work just over a year ago when he got redundancy from the company we both work/worked at. I had been planning to quit in July 2020, but have decided I'm probably pulling the trigger and will be FIREd by late Jan.
Congrats at moving it forward. I think that a stock market dip won't have a long lasting effect.
Oh, I updated the list and couldn't find you there, reading on a smallish phone and without reading glasses. Added you to late Jan.
Welcome to the cohort.
Post by: Linea_Norway on December 07, 2019, 07:07:48 AM
01/01/2020 firebrand's official day (fired in practice a few weeks earlier) CONFIRMED
01/01/2020 Nancy
01/2020 Farmgirl (@61)
01/2020 Now-non
01/06/2020 alienbogey's wife
01/15/2020 Nifty
01/15/2020 Nickel (@55)
01/2020 or 07/2020 SugerMountain
01/2020. MarcherLady
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
03/01/2020 Katmandew (@54)
02/2020 Freedomin5 (@38)
03/06/2020 CrazyIT
03/2020 FInding_peace (@38)
03/2020 rab-bit (@58)
03/2020 TheContinaltalOp
03-04/2020 Padonak
03-04+2/2020 Beeboy (@46)
03/31/2020 texxan1
04/03/2020 Maenad
04/2020 DreamFIRE
04/2020 Exit2019
04/2020 Itchyfeet
04/2020 Pennycounter
04-05/2020 aspiringnomad (@37)
04-12/2020 robtown
05/2020 Body Surfer
05/2020 Lady Stash (@45)
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/2020 Rcc
06/05/2020 thelyon19
06/01/2020 Albireo13 (@64)
06/2020 ixtap (date uncertain)
07/2020 bas5252 (@55)
07/2020 2sk22
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07-12/2020 MMM123
08/2020 Bateaux
10/2020 Rubyvroom
11/01/2020 Alienbogey
12/202? desk_jockey
12/31/2020 BFGirl
12/2020 david_shin
12/2020 MoneyTree (@36)
12/2020 Nora (@42)
12/2020 Sand101
12/2020 TheFIExplorer
12/2020 ysette9 (@38)
??/202? Gumption
??/2020 EscapeVelocity2020
??/2020 apurplelife
??/2020 BlueMR2
??/2020 catccc
??/2020 DadzillaGorilla (FI@35, RE@40)
??/2020 FIREstache (@55)
??/2020 LadyMaWhiskers
??/2020 letsdoit
??/2020 onlykelsey
??/2020 tooqk4u22
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: texxan1 on December 10, 2019, 03:42:15 AM
Please add me as a march 31st FIRE
Hope to not have to change again lol
Tex
Post by: Linea_Norway on December 10, 2019, 06:24:37 AM
with upcoming wheel barrel full of cash from the megacorp, im going to slide into this group from the 2019 Cohort class
Please add me as a march 31st FIRE
Hope to not have to change again lol
Tex
Welcome to the cohort.
Im going to have to bow out of this group... Off to 2020 now, but still not far.
Megacorp is offering me a severance for march 1st... Since the business unit i tecnically work for got sold. 18 months pay, not a bad gig for working a total of 43 more days.
ONWARD, see you guys soon i hope lol
Tex
Not a bad deal, getting 18 months pay for 43 days.
Post by: Linea_Norway on December 13, 2019, 01:07:17 AM
We still haven't all our FIRE stash, as half of it is still in our clown house. But we have taken the chance to quite our jobs before the house is sold. We tried to sell it in autumn, but didn't succeed yet. We'll try again in spring, maybe April. We have about a year spending budget in cash. And about 8 years spending budget in index funds. And we will still receive our December paychecks with higher nett payment than usual. And we will receive our vacation money for 2020 taxfree in January.
We are considering to spend a biggish sum on a new car in 2020. We are waiting for the Skoda EV to be available. That will propably cost about a year's spending budget (in Norway cars are generally very expensive, but EVs are still tax free until 2021). If we manage to sell our home for a good price, we can afford to buy a new car. Otherwise we might need to reconsider or work a bit more after next year, or buy a second hand other car. And some day in the future we will also receive two inheritances that are not part of our FIRE number, but might be a nice parachute when they come.
Post by: Linea_Norway on December 13, 2019, 01:11:02 AM
Post by: itchyfeet on December 13, 2019, 02:48:01 AM
We’ll fly back to Australia for XMas and then On my return I need to hand in my notice.
I am still really struggling with this, even though I don’t see me changing my mind.
I feel a lot of trepidation about the future.
Like you, we need to sell our expensive inner city house and use the proceeds to help fund our FIRE.
We haven’t seen our house for more than 5 years, as we have been living abroad, so are expecting to have to make some repairs before selling. Hopefully not too much.
Repatriating will also come at a cost. Not just moving but also costs like having to buy a car, maybe some furniture etc.
It is a little difficult to know what our precise financial position will be by the time the move, house sale, and move again is behind us..... oh and our repatriation will include a nine month global holiday before we even get home 😁
That all said, our stash is fairly sizable by MMM standards so we should feel we can proceed with confidence, but with so many unknowns about the future (where will we be living, what will we do with all our time, will we regret not having worked a year or 2 more to pad the stash) it does give cause to some restless nights.
One step at a time for now....
Post by: Linea_Norway on December 13, 2019, 03:07:47 AM
Congrats Linda
We’ll fly back to Australia for XMas and then On my return I need to hand in my notice.
I am still really struggling with this, even though I don’t see me changing my mind.
I feel a lot of trepidation about the future.
Like you, we need to sell our expensive inner city house and use the proceeds to help fund our FIRE.
We haven’t seen our house for more than 5 years, as we have been living abroad, so are expecting to have to make some repairs before selling. Hopefully not too much.
Repatriating will also come at a cost. Not just moving but also costs like having to buy a car, maybe some furniture etc.
It is a little difficult to know what our precise financial position will be by the time the move, house sale, and move again is behind us..... oh and our repatriation will include a nine month global holiday before we even get home 😁
That all said, our stash is fairly sizable by MMM standards so we should feel we can proceed with confidence, but with so many unknowns about the future (where will we be living, what will we do with all our time, will we regret not having worked a year or 2 more to pad the stash) it does give cause to some restless nights.
One step at a time for now....
I understand your restless nights. But you haven't seen your home for 5 years. Yes, that could have some surprices. But if you would choose to sell with some lack of maintenace, then maybe with the increased price it will still be a good deal? Didn't prices in Australia's big cities increase an insane lot in recent years?
We are also going to move, but stay in the same country. But we still have to decide where and the house needs to cost max half of what we live in now. That is a little point of insecurity for me, but not undoable. There are lots of houses for rent all over the place, even cheap ones. And we can buy something again when we like a place.
You can get furniture very cheaply on the second hand market. Even decent looking stuff for far under the new price. And second hand cars are also a good financial deal, unless you buy a lemon. We are looking for a brand new EV, because this is the period that they are sold without our usual 25% VAT.
Post by: itchyfeet on December 13, 2019, 05:27:24 AM
We will def buy a 2nd hand car and not a new one - around 5 years old will be fine.
Post by: FIREby2021 on December 14, 2019, 10:55:09 AM
We certainly lean to the conservative side, and are thankful these variables are out of our FIRE equation for now. It's not always possible for everyone's unique timelines and circumstances, and we want to continue to be in the mindset during 2020 as to continuing to reduce unknowns and dial back market exposure into time & price. Currently hold an AA of 50/50, and expect to reverse glide during FIRE back toward 75/25.
Probably our biggest 'uncertainties' that we will be working on understanding during 2020/2021 include:
1) prospect (or not) for future remote work for me (i.e., same thing, but from FIRE location)
2) FIRE home renovation costs (Q12021)
3) size of giving fund (TBD)
4) cost to move and get setup in new FIRE location
5) true healthcare costs (TBD)
6) other surprises behind door #3??
FIREby2021
Post by: Anette on December 14, 2019, 04:11:09 PM
Post by: itchyfeet on December 15, 2019, 09:54:37 AM
The idea of 'removing the unknowns' as much as possible is something we've really come to appreciate and take to heart during this final phase of FIRE prep.
I would really love to remove some of the unknowns, but unfortunately we are just going to have to deal with the surprises behind door no.1, no.2, no.3 and door no.4.... not to mention what we might find buried in the back yard.
We talked about selling our home in Sydney from here in Dubai, but we fear we won’t get the best sale value with tenants still in our house who don’t have any vested interest to present the home at its absolute best to maximise the sale value. We can’t even visit to see what the place looks like after 5 years loving abroad and 3 different sets of tenants damaging our home.
Whatever happens I am sure we will adapt..... maybe we’ll be doing a little casual work to plug gaps.
We could OMY to lower the risk, but after much angst have decided to stop fearing the unknown, and just move back to Australia and deal with however it all plays out.
All part of the FIRE adventure,
Post by: BFGirl on December 17, 2019, 12:13:28 PM
I'm still hoping on the end of 2020 but keep looking at possibilities of OMY or 2MY. I'm getting married in February and will now have joint plans to consider instead of just myself. My fiancee is very supportive of me whatever I ultimately decide to do.
I'll have to see how much golden handcuffs tempt me over the course of the next year...
Post by: SailingOnASmallSailboat on December 17, 2019, 06:57:19 PM
Post by: MarcherLady on December 18, 2019, 12:07:10 AM
Post by: Linea_Norway on December 18, 2019, 05:19:38 AM
Husband is putting in his notice at work on May 1. I'm already done (side hustle work and helping him with his - does this count? I hope so!). He'll have to give at least 2 weeks notice but hopefully no more than that. Retiring at 51 and 50!
Welcome. I added you husband to the list.
Post by: Linea_Norway on December 18, 2019, 05:20:53 AM
Congrats Linea and firebrand!
I'm still hoping on the end of 2020 but keep looking at possibilities of OMY or 2MY. I'm getting married in February and will now have joint plans to consider instead of just myself. My fiancee is very supportive of me whatever I ultimately decide to do.
I'll have to see how much golden handcuffs tempt me over the course of the next year...
Nice that you have found someone who supports you FIRE ambitions. You have w whole year to make your decision.
Post by: LostGirl on December 18, 2019, 11:51:13 AM
As for me, I'm going to talk to my manager after we get bonuses in February about taking a 3 month sabbatical over the summer. We'll see how I feel at the end of that. We aren't FI and my husband just started working again after a 3 year break to take care of our children. He would keep working which would cover our costs but he also works for an pretty early stage startup.
Post by: Nifty on December 18, 2019, 04:08:51 PM
My spreadsheet shows about a 3% WR at most after adding $12k to our estimated expenses in a few years when we have ~2 kids (with current expenses we are at about 2% WR). My wife and I plan to continue working part time (approx 3-4 months) for the next couple years. This is just to further buffer our reserves. A couple months ago she already gave notice at her work and was able to transition to 20 hr/week remote work. I will be attempting to work for my current employer on a contract basis. This has already been discussed and agreed to when I gave notice.
In mid-January 2020 we will be hitting the road in our self-converted camper van and going on rock climbing adventures mainly in the western US. We are going to be renting out our house! We have a few rental properties and the cash flow from those approximately covers our expenses.
We are planning to buy a bronze plan through the ACA. Young and healthy so not too concerned with poor coverage. With maximizing traditional IRA, solo 401k, and HSA, we can earn ~$97k (including dividends) and still qualify for full ACA subsidy (which makes bronze plan like ~$2/month) and pay no federal income tax.
Post by: ysette9 on December 18, 2019, 04:37:13 PM
Post by: Linea_Norway on December 19, 2019, 12:56:12 AM
I met with my new boss today to talk about my return to work in January as my maternity leave comes to a close. I am deeply ambivalent about the return, even though it likely is only for four months until my husband’s paternity leave runs out. I guess I am returning for four more months of $ padding and for the free food ( :-) ) but i don’t want to put forth the effort to make a showing on the new high visibility project I am getting assigned. I am full of “I just don’t know” over here.
I understand that. During my notice period (just before I gave notice) I was assigned to a new, important project. And I really dreaded having to start on it. But luckily we were supposed to finished something else before starting it and that lasted all my remaining time. The new project sounded just too difficult to cope with.
Post by: Linea_Norway on December 19, 2019, 12:58:01 AM
My last day of full time work is 1/15/20 after I gave notice this week.
My spreadsheet shows about a 3% WR at most after adding $12k to our estimated expenses in a few years when we have ~2 kids (with current expenses we are at about 2% WR). My wife and I plan to continue working part time (approx 3-4 months) for the next couple years. This is just to further buffer our reserves. A couple months ago she already gave notice at her work and was able to transition to 20 hr/week remote work. I will be attempting to work for my current employer on a contract basis. This has already been discussed and agreed to when I gave notice.
In mid-January 2020 we will be hitting the road in our self-converted camper van and going on rock climbing adventures mainly in the western US. We are going to be renting out our house! We have a few rental properties and the cash flow from those approximately covers our expenses.
We are planning to buy a bronze plan through the ACA. Young and healthy so not too concerned with poor coverage. With maximizing traditional IRA, solo 401k, and HSA, we can earn ~$97k (including dividends) and still qualify for full ACA subsidy (which makes bronze plan like ~$2/month) and pay no federal income tax.
Welcome to the cohort. Great plans to go rock climbing.
Post by: WynnDuffy73 on December 21, 2019, 05:51:24 AM
My last day of full time work is 1/15/20 after I gave notice this week.
My spreadsheet shows about a 3% WR at most after adding $12k to our estimated expenses in a few years when we have ~2 kids (with current expenses we are at about 2% WR). My wife and I plan to continue working part time (approx 3-4 months) for the next couple years. This is just to further buffer our reserves. A couple months ago she already gave notice at her work and was able to transition to 20 hr/week remote work. I will be attempting to work for my current employer on a contract basis. This has already been discussed and agreed to when I gave notice.
In mid-January 2020 we will be hitting the road in our self-converted camper van and going on rock climbing adventures mainly in the western US. We are going to be renting out our house! We have a few rental properties and the cash flow from those approximately covers our expenses.
We are planning to buy a bronze plan through the ACA. Young and healthy so not too concerned with poor coverage. With maximizing traditional IRA, solo 401k, and HSA, we can earn ~$97k (including dividends) and still qualify for full ACA subsidy (which makes bronze plan like ~$2/month) and pay no federal income tax.
I got a chuckle out of “rock climbing adventures” followed by “young and healthy so not too concerned with poor insurance coverage”. Be careful.
Post by: Maenad on December 21, 2019, 06:10:58 AM
I don’t want to put forth the effort to make a showing on the new high visibility project I am getting assigned. I am full of “I just don’t know” over here.
I feel you! I know I'm putting in notice in March after I get my bonus, and I also just got assigned to a new high visibility project. If I was still working for years it would be right up my alley, but right now I'm just DONE.
I'm on PTO for the rest of December, so I really only have January and February of normal work, plus who knows how much of March during my notice period (there's some big end-of-quarter stuff I'll stick around to help on if I'm actually a help). It feels like March doesn't really "count" mentally, so it's really only 2 months of faking it. ARGH.
Post by: ysette9 on December 21, 2019, 02:27:25 PM
First, congrats Linda!! We all hope to join you soon!So your plan is to fake it for a couple of months and hope no one notices? I’m hoping to do the same though I worry about how much it will really take to even fake it. The night meetings, trying to avoid international business trips... I suppose time will tell.I don’t want to put forth the effort to make a showing on the new high visibility project I am getting assigned. I am full of “I just don’t know” over here.
I feel you! I know I'm putting in notice in March after I get my bonus, and I also just got assigned to a new high visibility project. If I was still working for years it would be right up my alley, but right now I'm just DONE.
I'm on PTO for the rest of December, so I really only have January and February of normal work, plus who knows how much of March during my notice period (there's some big end-of-quarter stuff I'll stick around to help on if I'm actually a help). It feels like March doesn't really "count" mentally, so it's really only 2 months of faking it. ARGH.
Post by: MoneyTree on December 22, 2019, 05:42:57 PM
We are on track to hit our FIRE number in late 2020, but I'm apprehensive about our living situation.
Where we live in California, the rent vs buy decision is extremely skewed towards renting (3BD 1.5 bath down the street sold for $1.5 million. No thanks!), so we've been renting as it makes more financial sense at the moment. We wouldn't move too far away due to proximity to family.
I'm fine with renting forever, but DW has been hinting that it would be nice to raise our daughter in a place of our own. While there is no urgency to purchase a home right now, my concern is after FIRE, it would be very difficult to not get laughed out of the bank trying to get a mortgage while only being able to show ~50K of dividend / capital gains income.
But making such a large purchase before FIRE would clearly set us back a few years. Having to delay the FIRE date at this point would be quite a let down.
Post by: itchyfeet on December 22, 2019, 09:47:42 PM
2020 is almost here!
We are on track to hit our FIRE number in late 2020, but I'm apprehensive about our living situation.
Where we live in California, the rent vs buy decision is extremely skewed towards renting (3BD 1.5 bath down the street sold for $1.5 million. No thanks!), so we've been renting as it makes more financial sense at the moment. We wouldn't move too far away due to proximity to family.
I'm fine with renting forever, but DW has been hinting that it would be nice to raise our daughter in a place of our own. While there is no urgency to purchase a home right now, my concern is after FIRE, it would be very difficult to not get laughed out of the bank trying to get a mortgage while only being able to show ~50K of dividend / capital gains income.
But making such a large purchase before FIRE would clearly set us back a few years. Having to delay the FIRE date at this point would be quite a let down.
I don’t understand why buying a home pre-FIRE would delay FIRE, but buying post FIRE (if a bank agreed) means that you can still FIRE in 2020.
Either you have enough cashflow to service a mortgage or you don’t, in which case you need to rent forever or keep working until your cash flows can service a mortgage (or you can afford to pay cash upfront for the purchase).
We are kind of opposite to you in that we are needing to sell our house to free up cash for doing other things.
Post by: Freedomin5 on December 23, 2019, 04:28:24 AM
2020 is almost here!
We are on track to hit our FIRE number in late 2020, but I'm apprehensive about our living situation.
Where we live in California, the rent vs buy decision is extremely skewed towards renting (3BD 1.5 bath down the street sold for $1.5 million. No thanks!), so we've been renting as it makes more financial sense at the moment. We wouldn't move too far away due to proximity to family.
I'm fine with renting forever, but DW has been hinting that it would be nice to raise our daughter in a place of our own. While there is no urgency to purchase a home right now, my concern is after FIRE, it would be very difficult to not get laughed out of the bank trying to get a mortgage while only being able to show ~50K of dividend / capital gains income.
But making such a large purchase before FIRE would clearly set us back a few years. Having to delay the FIRE date at this point would be quite a let down.
I don’t understand why buying a home pre-FIRE would delay FIRE, but buying post FIRE (if a bank agreed) means that you can still FIRE in 2020.
Either you have enough cashflow to service a mortgage or you don’t, in which case you need to rent forever or keep working until your cash flows can service a mortgage (or you can afford to pay cash upfront for the purchase).
We are kind of opposite to you in that we are needing to sell our house to free up cash for doing other things.
Because the money that would have gone into the stash is now needed for a downpayment?
Post by: Maenad on December 23, 2019, 06:31:04 AM
So your plan is to fake it for a couple of months and hope no one notices? I’m hoping to do the same though I worry about how much it will really take to even fake it. The night meetings, trying to avoid international business trips... I suppose time will tell.I don’t want to put forth the effort to make a showing on the new high visibility project I am getting assigned. I am full of “I just don’t know” over here.
I feel you! I know I'm putting in notice in March after I get my bonus, and I also just got assigned to a new high visibility project. If I was still working for years it would be right up my alley, but right now I'm just DONE.
I'm on PTO for the rest of December, so I really only have January and February of normal work, plus who knows how much of March during my notice period (there's some big end-of-quarter stuff I'll stick around to help on if I'm actually a help). It feels like March doesn't really "count" mentally, so it's really only 2 months of faking it. ARGH.
Kinda. I can keep a positive focus by thinking, "Sure, I'm not going to be here much longer, but what can I do on this to make things easier for whichever coworker is taking it on after I leave?" Then I don't feel quite so fake, since I'm trying to make things slightly better for others when i'm no longer around.
It helps that I like a lot of my coworkers, and all of my peers in my team. Which has its own difficulties (guilt), for which I'm going to talk to a therapist a bit in Jan/Feb.
Post by: ysette9 on December 23, 2019, 07:24:37 AM
2020 is almost here!We live in a similarly expensive area of CA and our rent versus buy analysis told us to buy if we were planning on staying for ten years or more. I would imagine your analysis should end up similar
We are on track to hit our FIRE number in late 2020, but I'm apprehensive about our living situation.
Where we live in California, the rent vs buy decision is extremely skewed towards renting (3BD 1.5 bath down the street sold for $1.5 million. No thanks!), so we've been renting as it makes more financial sense at the moment. We wouldn't move too far away due to proximity to family.
I'm fine with renting forever, but DW has been hinting that it would be nice to raise our daughter in a place of our own. While there is no urgency to purchase a home right now, my concern is after FIRE, it would be very difficult to not get laughed out of the bank trying to get a mortgage while only being able to show ~50K of dividend / capital gains income.
But making such a large purchase before FIRE would clearly set us back a few years. Having to delay the FIRE date at this point would be quite a let down.
Post by: itchyfeet on December 23, 2019, 06:17:05 PM
2020 is almost here!
We are on track to hit our FIRE number in late 2020, but I'm apprehensive about our living situation.
Where we live in California, the rent vs buy decision is extremely skewed towards renting (3BD 1.5 bath down the street sold for $1.5 million. No thanks!), so we've been renting as it makes more financial sense at the moment. We wouldn't move too far away due to proximity to family.
I'm fine with renting forever, but DW has been hinting that it would be nice to raise our daughter in a place of our own. While there is no urgency to purchase a home right now, my concern is after FIRE, it would be very difficult to not get laughed out of the bank trying to get a mortgage while only being able to show ~50K of dividend / capital gains income.
But making such a large purchase before FIRE would clearly set us back a few years. Having to delay the FIRE date at this point would be quite a let down.
I don’t understand why buying a home pre-FIRE would delay FIRE, but buying post FIRE (if a bank agreed) means that you can still FIRE in 2020.
Either you have enough cashflow to service a mortgage or you don’t, in which case you need to rent forever or keep working until your cash flows can service a mortgage (or you can afford to pay cash upfront for the purchase).
We are kind of opposite to you in that we are needing to sell our house to free up cash for doing other things.
Because the money that would have gone into the stash is now needed for a downpayment?
But if you bought the house post FIRE you would still need to make the down payment at that time??
Post by: MoneyTree on December 23, 2019, 08:22:13 PM
2020 is almost here!
We are on track to hit our FIRE number in late 2020, but I'm apprehensive about our living situation.
Where we live in California, the rent vs buy decision is extremely skewed towards renting (3BD 1.5 bath down the street sold for $1.5 million. No thanks!), so we've been renting as it makes more financial sense at the moment. We wouldn't move too far away due to proximity to family.
I'm fine with renting forever, but DW has been hinting that it would be nice to raise our daughter in a place of our own. While there is no urgency to purchase a home right now, my concern is after FIRE, it would be very difficult to not get laughed out of the bank trying to get a mortgage while only being able to show ~50K of dividend / capital gains income.
But making such a large purchase before FIRE would clearly set us back a few years. Having to delay the FIRE date at this point would be quite a let down.
I don’t understand why buying a home pre-FIRE would delay FIRE, but buying post FIRE (if a bank agreed) means that you can still FIRE in 2020.
Either you have enough cashflow to service a mortgage or you don’t, in which case you need to rent forever or keep working until your cash flows can service a mortgage (or you can afford to pay cash upfront for the purchase).
We are kind of opposite to you in that we are needing to sell our house to free up cash for doing other things.
Yeah, my situation is unique here in that my current rent is comparatively so much cheaper than servicing a mortgage. It’s not even close. (Price-Rent Ratio is about 40). Assuming that the market outpaces home price appreciation in the long run, renting longer would allow the stash to continue growing post-FIRE.
The problem is getting a mortgage Post FIRE when I no longer would have W2 income and I’d like to limit how much capital gains I recognize each year.
Post by: aspiringnomad on December 26, 2019, 07:53:44 PM
Post by: ysette9 on December 27, 2019, 03:24:48 AM
Bought our plane tickets, so it's pretty much official that I'll leave my job in April. Plan to give notice in the coming weeks and strangely very nervous about it.Congrats and good luck.
I think nerves are natural. This is a big change going are on the cusp of.
Post by: itchyfeet on December 27, 2019, 03:49:43 AM
Post by: Trifle on December 27, 2019, 06:12:18 AM
Hope you all have a fantastic year. Go Class of 2020!!!!
(https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcS2wWLjxG4Z0PIH_bRv5gnuMO27TdVqWFP3q3Fg0fOQ1s5wy7n4&s)
Post by: Farmgirl on December 27, 2019, 07:57:35 AM
Post by: aspiringnomad on December 27, 2019, 08:34:33 AM
Bought our plane tickets, so it's pretty much official that I'll leave my job in April. Plan to give notice in the coming weeks and strangely very nervous about it.Congrats and good luck.
I think nerves are natural. This is a big change going are on the cusp of.
Thanks! I think it's partly just the messaging. During prior job changes, the message was pretty simple: I'm leaving for a better opportunity and/or more money. Here, I'm not going to mention FIRE or my financial position more generally, so the message will essentially be...I'm gonna do some traveling. And since I'm in a management role, I'm giving three months notice instead of a few weeks and I'm a little anxious about how those three months will play out.
The actual life change is a whole other ball of nerves ;)
Post by: ysette9 on December 27, 2019, 09:07:55 AM
Post by: aspiringnomad on December 27, 2019, 09:19:18 AM
Do you have lines then you have prepared for how to handle the inevitable questions?
Working on them during this holiday break!
Post by: ScreamingHeadGuy on December 27, 2019, 01:33:07 PM
Post by: 2sk22 on December 30, 2019, 03:21:01 AM
Here’s a pre-emptive “Congratulations!” to the 2020 cohort. I will read along this upcoming year, relishing in your triumphs and general awesomeness, drawing inspiration (and maybe some nuggets of wisdom) as I prepare to “jump out of my fully-functioning airplane” in 2021.
A closer analogy for me is shutting off the fire hose :-) I have always been very well paid in my career but the pay in my field became really crazy only about eight years ago. Even a couple of years, stepping away from a big salary seemed unthinkable but I think I have reached a tipping point.
The main problem I am anticipating in 2020 is disengaging myself from my current company, a small tech startup. They are a really good group of people and need my help but I'm just going to have to be firm with them. Not looking forward to this :-(
Post by: Rcc on December 30, 2019, 08:52:20 AM
1. Still on track to be FI in May next year. If I were to RE as well, it would be very lean.
2. As mentioned somewhere way upthread my plan is still to RE later, currently pegged for Jan 2025:
a. My DS hasnt finished college yet
b. I started a new gig in December
c. 2025 gives me the option to start 401k withdrawals w/o using the 72T rule
d. If I go to 2025, OTOH, I'll likely be able to leave the 401k untouched till later and withdraw from taxable account only because:
e. DW should be starting a gig next month making what will be her highest salary yet.
3. The new gig I started is 20% less pay, 90% less pressure, no cell phone leash, no management responsibilities so WOO!
4. With the DWs blessing, we've decided we'll payoff the mortgage next month (instead of 4-5 yrs out) to get that obligation off our mind.
So a few pleasant changes I didnt see happening this time last year. My areas of focus for 2020 and forward are simple too:
1. Maximize efforts to improve health overall
2. Continue my reactivated hobby of SCUBA diving (I certified 25yrs ago)
3. Work on relationship with DW as we're approaching this new phase of life
4. Look around for 1-2 more hobbies (lower cost than SCUBA though!)
Post by: markbike528CBX on December 30, 2019, 09:13:39 AM
Stopping by from the 2019 Cohort to pass off the FIRE-y baton. We're done and now it's your turn!
Hope you all have a fantastic year. Go Class of 2020!!!!
(https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcS2wWLjxG4Z0PIH_bRv5gnuMO27TdVqWFP3q3Fg0fOQ1s5wy7n4&s)
Trifele has been the leader of the 2019 cohort since June 2018, and has been a great cheerleader and mentor to everyone.
Although you 2020'ers only have two more days to join us in 2019, would it really matter if you didn't show up on the 2nd? :-) There is still time on OLY to 2019 :-)
Markbike528CBX -- OP of 2019 cohort thread.
Post by: Linea_Norway on December 31, 2019, 04:13:21 AM
Hey everyone, happy pre-new years eve to all. Hope your 2019 was great. Thought I'd drop some quick updates:
1. Still on track to be FI in May next year. If I were to RE as well, it would be very lean.
2. As mentioned somewhere way upthread my plan is still to RE later, currently pegged for Jan 2025:
a. My DS hasnt finished college yet
b. I started a new gig in December
c. 2025 gives me the option to start 401k withdrawals w/o using the 72T rule
d. If I go to 2025, OTOH, I'll likely be able to leave the 401k untouched till later and withdraw from taxable account only because:
e. DW should be starting a gig next month making what will be her highest salary yet.
3. The new gig I started is 20% less pay, 90% less pressure, no cell phone leash, no management responsibilities so WOO!
4. With the DWs blessing, we've decided we'll payoff the mortgage next month (instead of 4-5 yrs out) to get that obligation off our mind.
So a few pleasant changes I didnt see happening this time last year. My areas of focus for 2020 and forward are simple too:
1. Maximize efforts to improve health overall
2. Continue my reactivated hobby of SCUBA diving (I certified 25yrs ago)
3. Work on relationship with DW as we're approaching this new phase of life
4. Look around for 1-2 more hobbies (lower cost than SCUBA though!)
For a hobby, look into free diving. It is as interesting under water as scuba, but without the oxygen bottles stuff. You can reuse your wetsuit.
Post by: Linea_Norway on December 31, 2019, 04:25:54 AM
I am still losing sleep over my pending resignation.....
Please don't. Your company should be able to handle that. Not your problem when you quit.
I also felt anxious before my resignation, but not after I gave notice.
Post by: Rcc on December 31, 2019, 10:54:00 AM
For a hobby, look into free diving. It is as interesting under water as scuba, but without the oxygen bottles stuff. You can reuse your wetsuit.
[/quote]
That was mentioned at our team holiday meal. I initially rejected it as I already own the full scuba kit (minus air tanks) and that kit should last 10-15 years with minor maintenance. Renting tanks is usually a 10-15$ expense, so no biggie.
Having said that I’m not opposed to snorkeling about in between dives. The pain cost wise is getting to sexy dive spots (ie Belize, Bahamas etc). There are good dive operators however off Wilmington near me which is a short drive, so many opportunities there at reasonable per person rates. Additionally, my dive shop usually has room and board built into their excursions which takes the bite out of say, a week in Florida.
Fun problems to have 😜
Post by: Nancy on December 31, 2019, 12:07:04 PM
Post by: RWTL on December 31, 2019, 06:51:47 PM
I did it. I've finally given away my office pants. I've had these two pairs of pants since I started working post-college. The goal was that I'd use them until I FIREd. Yes, I also had other pants, but I wore both of these every single week. They made it till the end. Well done, pants!
Congrats to you and your well worn clothing. I've made several games out of things at work. That's pretty funny about the pants.
Post by: Lucky13 on December 31, 2019, 07:00:16 PM
I'm 44 y/o, currently working FT in my original career. Add me as a March 2020 FIRE. Good luck all! STA$H CA$H!
Post by: Fresh Bread on December 31, 2019, 10:15:30 PM
I'm going to keep my business going as a retirement "beard". It will stop the enevitable questions and I if I don't want to take on a job, I won't, so I'll work a couple of hours a week and then maybe 20-30hrs a few weeks a year. I really enjoy coming up with and trying out little business ideas so really the very pared back business will be one part of my retirement hobbies.
I'm not really sure what my husband's plan is - he left his job last year but really he also needs a beard. I'm thinking he should say he's freelance but not actually take any jobs :D
Re the beard - I think I'm just embarrassed and don't want to talk money with friends. They are either in deep with large mortgages or haven't had the opportunities we've had and either way it's not comfortable to talk about it, it feels like boasting Anyone else going to be pretending to work hard?
Post by: ysette9 on December 31, 2019, 10:20:02 PM
Or maybe I’ll just start calling myself retired go see how people react. ;-)
Post by: 2sk22 on January 01, 2020, 03:22:45 AM
Just woke up at my usual 4am and feeling happy knowing that this is the year! Just one year ago, even the very concept of early retirement hadn't crossed my mind. Like @ysette9 I have a ton of family obligations - but mainly due to elderly parents rather than young children.
Had to add this: I have been learning German using Duolingo for several years now. I started on it for a vacation in Switzerland in 2017 but this project took on a life of its own. So anyway, in today's lesson, I came across this sentence:
Quote
Irgendwann reicht es
At some point it is enough
I'm not superstitious but is this a sign or what? :-)
Post by: ysette9 on January 01, 2020, 08:08:41 AM
Post by: Linea_Norway on January 01, 2020, 08:24:33 AM
01/01/2020 firebrand's official day CONFIRMED
01/01/2020 Nancy CONFIRMED
01/07/2020 alienbogey's wife. CONFIRMED
01/15/2020 Nifty
01/15/2020 Nickel (@55)
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
01/??/2020 Farmgirl (@61)
01/??/2020 Now-non
1rst week/02/2020. RetireAbroadAt35 (@35)
02/??/2020 Freedomin5 (@38)
03/01/2020 Katmandew (@54)
03/06/2020 CrazyIT
03/??/2020 FInding_peace (@38)
03/??/2020 Lucky13 (@44)
03/??/2020 or 04/??/2020 Padonak
03/??/2020 or later 2020 Beeboy (@46)
03/31/2020 texxan1
04/03/2020 Maenad
04/??/2020 DreamFIRE
04/??/2020 Exit2019
04/??/2020 Itchyfeet
04/??/2020 Pennycounter
04/??/2020 or 05/??/2020 aspiringnomad (@37)
04/??/2020 or 05/??/2020 ysette9 (@38)
04/??/2020 or later 2020 robtown
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/??/2020 Rcc
05/25/2020 Body Surfer
05/??/2020 Lady Stash (@45)
06/01/2020 Albireo13 (@64)
06/05/2020 thelyon19
06/05/2020 rab-bit (@59)
06/??/2020 ixtap (date uncertain)
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07/01/2020 SpreadsheetMan (@58)
07/24/2020 SugarMountain
07/??/2020 or later 2020 MMM123
07/??/2020 bas5252 (@55)
07/??/2020 2sk22
08/01/2020 HappyCheerE (@55)
08/??/2020 Bateaux
10/??/2020 Rubyvroom
11/01/2020 Alienbogey
12/31/2020 BFGirl
12/??/2020 david_shin
12/??/2020 MoneyTree (@36)
12/??/2020 Nora (@42)
12/??/2020 Sand101
12/??/2020 TheFIExplorer
12/??/202? desk_jockey
??/??/202? Gumption
??/??/2020 MarcherLady
??/??/2020 EscapeVelocity2020
??/??/2020 apurplelife
??/??/2020 BlueMR2
??/??/2020 catccc
??/??/2020 DadzillaGorilla (FI@35, RE@40)
??/??/2020 FIREstache (@55)
??/??/2020 LadyMaWhiskers
??/??/2020 letsdoit
??/??/2020 onlykelsey
??/??/2020 tooqk4u22
??//??/2020 Fresh Bread
?? /?? /2020 MrMoogle
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Linea_Norway on January 01, 2020, 08:26:36 AM
Ok, after many many delays I'm joining your class. We will be FI as soon as our house can be prepped and rented. The latest timeline has tenants in there by 1 March. Fingers crossed...
I'm going to keep my business going as a retirement "beard". It will stop the enevitable questions and I if I don't want to take on a job, I won't, so I'll work a couple of hours a week and then maybe 20-30hrs a few weeks a year. I really enjoy coming up with and trying out little business ideas so really the very pared back business will be one part of my retirement hobbies.
I'm not really sure what my husband's plan is - he left his job last year but really he also needs a beard. I'm thinking he should say he's freelance but not actually take any jobs :D
Re the beard - I think I'm just embarrassed and don't want to talk money with friends. They are either in deep with large mortgages or haven't had the opportunities we've had and either way it's not comfortable to talk about it, it feels like boasting Anyone else going to be pretending to work hard?
Welcome.
Delay is only good when the original plan is really shaky. Otherwise it might be better to just jump in and enjoy your freedom.
Post by: Linea_Norway on January 01, 2020, 08:27:37 AM
HI everyone, it's New Year's Eve and I've decided my resolution is to quit my job and join the FIRE Class of 2020!
I'm 44 y/o, FI since 2013, currently working FT in my original career. Add me as a March 2020 FIRE. Good luck all! STA$H CA$H!
Welcome.
Post by: Linea_Norway on January 01, 2020, 08:29:13 AM
I did it. I've finally given away my office pants. I've had these two pairs of pants since I started working post-college. The goal was that I'd use them until I FIREd. Yes, I also had other pants, but I wore both of these every single week. They made it till the end. Well done, pants!
Congrats!!! What a good idea to mark it by giving away your office pants.
Post by: Linea_Norway on January 01, 2020, 08:50:45 AM
How is your wife doing? Has she given notice? Her planned FIRE date was the sixth of Jan.
Post by: FireLane on January 01, 2020, 10:11:58 AM
Post by: MarcherLady on January 01, 2020, 10:55:13 AM
I am wavering. It will be this year, but I don't think it will be January. There is still the slimmest of chances of managing to get a redundancy package from work, so I'm hanging in a bit longer. But it will be this year.
Post by: ysette9 on January 01, 2020, 11:40:28 AM
Post by: FIREby2021 on January 01, 2020, 01:10:16 PM
December Highlights:
- Really a nice wrap-up to the year regarding our savings and financial progress goals. I've done a comprehensive EOY review and revised our forward outlook; those details as it pertains to our FIRE journey will be covered in a separate note. Extremely thankful and having that "it's starting to feel real" kind of feeling.
- December was marked by busy-busy EOY work close-outs then a couple of nice weeks at a slower pace, visiting family up North and enjoying quiet days here back home. DW and I spent time reviewing our core values as it pertains to our 2020 goals (physical, spiritual, financial, relational, intellectual). We are really excited to reflect back on a wonderful 2019, and look forward to a fresh calendar. Given the likelihood that 2020 is our last full year living here, we're prepared to "soak in" all of the good things we enjoy and appreciate about this place and our community.
- As of today, our NW progress covers: a paid-off FIRE home, funded FIRE lump sums (giving, renovation budget, new car, etc.) and a WR of 4.10% based on our target annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.).
- Countdown: Assuming monthly progress remains on par with our historic averages, we should reach our FI goal of a 3.75% WR by Q4-2020. My office whiteboard countdown tracker now shows 14 months left before our most-likely FIRE target timing of Q1-2021.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
EOY 2019 = 94.1%
// FI target defined as 3.75% WR, mortgage-free + lump sums funded //
END OF MONTH PROGRESS:
JAN 2019 84.5%
FEB 2019 86.9%
MAR 2019 88.4%
APR 2019 89.0%
MAY 2019 86.1%
JUN 2019 89.3%
JUL 2019 89.6%
AUG 2019 88.6%
SEP 2019 90.3%
OCT 2019 91.2%
NOV 2019 92.0%
DEC 2019 94.1%
Happy New Year to you, the NOW COHORT!
FIREby2021
Post by: MoneyTree on January 01, 2020, 01:26:51 PM
We're on track to hit our number near the end of the year, so for everyone FIREing earlier throughout the year, please keep the stories coming to keep the rest of us motivated!
Post by: Lucky13 on January 01, 2020, 02:02:56 PM
I've heard some FIRE'd people use the term "passive income" to explain how they can afford to live without a job, and I like that phrasing since for me, that really is the core of FIRE, not just saving money & investing in stocks etc. but doing it deliberately to set up a passive income stream that can fund my lifestyle, without income from a job. So it's like switching from one type of income to another, not pulling the plug, or at least that's what I keep telling myself. :D
Post by: Maenad on January 01, 2020, 04:46:40 PM
We hit our FI # just before July 4th (US Independence Day), and knew that we wanted to build a buffer for some larger capital expenses that are likely to come up in the first 5 years. Well, as of the last day of 2019, we are there!
I'm going to give notice after I get my bonus in March, so it really only feels like January and February to work before I'm pretty much just handing off my various duties. I'm so excited! I'll be retiring right at the beginning of spring, it'll definitely be a season of rebirth. :-)
Post by: HappyCheerE on January 01, 2020, 06:31:35 PM
Post by: Linea_Norway on January 01, 2020, 11:18:37 PM
Gulp... I'm taking the plunge and jumping ship from the 2022 cohort to this one! Plan is to give notice in February and work until August unless things get weird with my boss, in which case I can stop any ol' time. We're at 25x of spending and that doesn't count side hustles etc.; plus I'm 55 and DH is 57, so unless things change dramatically, there's some SS we could access soon-ish. Lots of nerves, not about the money part but about the social aspect, just like @Fresh Bread and @Lucky13 plus boss nerves. @Linea_Norway it's good to hear you felt relaxed after giving notice. More details down the road, just wanted to get this in on 1/1/2020 and be all official-like. Happy New Year with extra happy on top for all of us!
Welcome. No need to wait an extra two years when you have hit the number.
Post by: alienbogey on January 01, 2020, 11:46:36 PM
@alienbogey
How is your wife doing? Has she given notice? Her planned FIRE date was the sixth of Jan.
She is doing very, very well, thank you for asking. Her FIRE date is January 7th.
Late last year she put 30 tick marks up on our kitchen white board to represent 30 work days to go. There are 3 tick marks left to be erased.
Post by: rab-bit on January 02, 2020, 02:26:43 AM
For a variety of reasons, I've decided to delay my date by a few months. My new target date is June 5th, and I'll be 59 by then.
In the meantime, I'll be cheering as I see all of you hit your dates! ☺️
Post by: TheContinentalOp on January 02, 2020, 08:32:14 AM
Post by: Linea_Norway on January 02, 2020, 10:08:47 AM
I am going to bid adieu to the 2020 group. Going to stick it out OMY and join the 2021 folks. I'm already experiencing anxiety over the thought of not receiving a paycheck. I hope that over the next 14 months, I can over come my fears.
Good luck in the new cohort. Having anxiety is not good, but don't keep doing OMYs in the future.
Post by: SugarMountain on January 02, 2020, 10:24:31 AM
01/01/2020 Linea_Norway's official day (@46) CONFIRMED
01/01/2020 firebrand's official day CONFIRMED
01/01/2020 Nancy CONFIRMED
01/07/2020 alienbogey's wife
01/15/2020 Nifty
01/15/2020 Nickel (@55)
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
01/??/2020 Farmgirl (@61)
01/??/2020 Now-non
01/??/2020 or 07/??/2020 SugerMountain
02/??/2020 Freedomin5 (@38)
03/01/2020 Katmandew (@54)
03/06/2020 CrazyIT
03/??/2020 FInding_peace (@38)
03/??/2020 Lucky13 (@44)
03/??/2020 or 04/??/2020 Padonak
03/??/2020 or later 2020 Beeboy (@46)
03/31/2020 texxan1
04/03/2020 Maenad
04/??/2020 DreamFIRE
04/??/2020 Exit2019
04/??/2020 Itchyfeet
04/??/2020 Pennycounter
04/??/2020 or 05/??/2020 aspiringnomad (@37)
04/??/2020 or 05/??/2020 ysette9 (@38)
04/??/2020 or later 2020 robtown
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/??/2020 Rcc
05/??/2020 Body Surfer
05/??/2020 Lady Stash (@45)
06/01/2020 Albireo13 (@64)
06/05/2020 thelyon19
06/05/2020 rab-bit (@59)
06/??/2020 ixtap (date uncertain)
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07/??/2020 or later 2020 MMM123
07/??/2020 bas5252 (@55)
07/??/2020 2sk22
08/01/2020 HappyCheerE (@55)
08/??/2020 Bateaux
10/??/2020 Rubyvroom
11/01/2020 Alienbogey
12/31/2020 BFGirl
12/??/2020 david_shin
12/??/2020 MoneyTree (@36)
12/??/2020 Nora (@42)
12/??/2020 Sand101
12/??/2020 TheFIExplorer
12/??/202? desk_jockey
??/??/202? Gumption
??/??/2020 MarcherLady
??/??/2020 EscapeVelocity2020
??/??/2020 apurplelife
??/??/2020 BlueMR2
??/??/2020 catccc
??/??/2020 DadzillaGorilla (FI@35, RE@40)
??/??/2020 FIREstache (@55)
??/??/2020 LadyMaWhiskers
??/??/2020 letsdoit
??/??/2020 onlykelsey
??/??/2020 tooqk4u22
??//??/2020 Fresh Bread
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Hmmm. I thought I'd been added to the list as "undefined". Let's go ahead with a target of 7/24/2020 for me. 2020 is my 3rd cohort, so we'll see how it goes. lol
Post by: FIREby2021 on January 02, 2020, 11:06:57 AM
KEY ANNUAL STATS (Net After-Taxes):
2015 Savings Rate = 51.0%
2015 Giving Rate = 11.2%
2016 Savings Rate = 65.5%
2016 Giving Rate = 12.5%
2017 Savings Rate = 64.4%
2017 Giving Rate = 11.5%
2018 Savings Rate = 63.0%
2018 Giving Rate = 12.0%
2019 Savings Rate = 54.0%
2019 Giving Rate = 15.4%
=-=-=-=-=-=-=-=-=-=-=-=-=-=
EOY 2015 FI Progress = 54.0%
EOY 2016 FI Progress = 68.0%
EOY 2017 FI Progress = 75.6%
EOY 2018 FI Progress = 81.6%
EOY 2019 FI Progress = 94.1%
// FI target defined as 3.75% WR, mortgage-free FIRE home + fully fund desired giving/lump sums //
=-=-=-=-=-=-=-=-=-=-=-=-=-=
We completed a DEEP-DIVE into our 2019 expenses (tracked every dollar), and now have the luxury of 2-years worth of data to lean on. This past year we SAVED 54%, SPENT 31% and GAVE 15% of our after-tax dollars. We saved less and spent more in 2019, driven by 3 things: 1) additional giving, 2) early renovation work for our FIRE home (HVAC, etc.), and 3) pre-paid some significant 2020 travel costs. Now that we're well into a cost-tracking routine that isn't onerous, we'll repeat it again for 2020. This is really helpful data!
Translating our actual spend to our future FIRE scenario, 2019's was within $1k of 2018's annual number -- both consistent and on target with normal inflation. Our annual spend target includes a generous allocation for healthcare and travel, and largely mimics the ways we already enjoy living 'today'. I'm sure there will be surprises, and we intend to spend time this year honing in on healthcare estimates and contingency small-business ideas we each have.
Referencing Big ERN's SWR ToolBox 2.0, we kept our planned WR at 3.75%, and current outlook shows us reaching that level Q4-2020, with a paid-off mortgage done and our desired giving/lump sums funded. For a number of life reasons, it doesn't make sense for us to pull any triggers until Q1-2021 at the earliest. We will also spend time this year exploring what the "RE" part of FIRE looks like for us as we transition to our new home and new life ... the possibilities seem nearly endless!
Key 2020 goals:
1. Resume an after-tax savings rate of >60%
2. Meet or exceed 100% of our FI target
3. Appropriately de-risk and rebalance to our desired AA
4. Research RE healthcare options
5. Continue traveling and enjoying life along the way (soak it in!)
Happy New Year!
FIREby2021
Post by: Nancy on January 02, 2020, 11:53:05 AM
Post by: dan23 on January 02, 2020, 04:37:44 PM
Post by: Body Surfer on January 03, 2020, 06:13:19 PM
Post by: ysette9 on January 03, 2020, 07:56:37 PM
I am retiring around Memorial Day weekend when my contract ends. We've hit our number. I want out now badly. This is going to be the longest 5 months of my life lolI feel your pain. I have to promise myself I’ll take it one month at a time to be able to face going back.
Post by: itchyfeet on January 04, 2020, 07:38:36 AM
Over XMas I have still been stressing about stopping work. There are many reasons, mostly face punchable, but at the heart of a lot of it is a whole lot of uncertainty about what I want to do with my life. I am 48 and I still have zero idea of where I am going... a bit pathetic.
Sure, I have the cash to run away from my job and career, but what am I running to? I have no idea.
Last week I received an email that potentially gives me an escape route from carrying through with FIRE.
I don’t want to disclose to much detail, but I could have a very good job to go to back in Australia, with all my repatriation costs paid for (I am currently working in the Middle East).
I feel some comfort that I could have certainty on where I will be going on my return to Australia. Just the moving back is a big change, and not knowing where in Australia DW and I were going to end up living is causing some angst. A part of me feels we need to make some uncertainties certain before FIRE.
Taking the job will allow us to take one step at a time and get our self better prepared for Our post FIRE life. Also the additional stash will allow us to push below 4% WR. FIREing this year we were contemplating ~4.5%, albeit with a lot of flexibility in spending, and significant potential to move into cheaper housing down the line if necessary. There is also a high likelihood that DW will continue to work on a casual basis.
I am not saying I am not FIREing in 2020.... not yet.... One day at a time... 😬
Post by: Linea_Norway on January 04, 2020, 08:39:01 AM
I am getting a bit sick of myself, but there is a chance I won’t be FIREing for a few years..... I wish I was less indecisive.
Over XMas I have still been stressing about stopping work. There are many reasons, mostly face punchable, but at the heart of a lot of it is a whole lot of uncertainty about what I want to do with my life. I am 48 and I still have zero idea of where I am going... a bit pathetic.
Sure, I have the cash to run away from my job and career, but what am I running to? I have no idea.
Last week I received an email that potentially gives me an escape route from carrying through with FIRE.
I don’t want to disclose to much detail, but I could have a very good job to go to back in Australia, with all my repatriation costs paid for (I am currently working in the Middle East).
I feel some comfort that I could have certainty on where I will be going on my return to Australia. Just the moving back is a big change, and not knowing where in Australia DW and I were going to end up living is causing some angst. A part of me feels we need to make some uncertainties certain before FIRE.
Taking the job will allow us to take one step at a time and get our self better prepared for Our post FIRE life. Also the additional stash will allow us to push below 4% WR. FIREing this year we were contemplating ~4.5%, albeit with a lot of flexibility in spending, and significant potential to move into cheaper housing down the line if necessary. There is also a high likelihood that DW will continue to work on a casual basis.
I am not saying I am not FIREing in 2020.... not yet.... One day at a time... 😬
Make yourself a Life Tree. (Google it for examples). You might discover some things you liked to do, or want to do.
Post by: Lucky13 on January 04, 2020, 06:39:44 PM
Sure, I have the cash to run away from my job and career, but what am I running to? I have no idea.
I was stuck on this question too, but now I look at it differently. I'm not so much leaving work, as returning to my primordial state of not having a job, like when I was a kid, or in college when I didn't need or want to work FT. Except now I have way more money. And don't have to go to class, do homework, or take tests. :)
Post by: itchyfeet on January 04, 2020, 08:28:39 PM
Sure, I have the cash to run away from my job and career, but what am I running to? I have no idea.
I was stuck on this question too, for years actually, so don't feel bad if you end up leaving our cohort (but FIRE Class of 2020 is the BEST!! Don't you want in?? haha) But now I look at it differently. I'm not so much leaving work, as returning to my primordial state of not having a job, like when I was a kid, or in college when I didn't need or want to work FT. Except now I have way more money. And don't have to go to class, do homework, or take tests. :)
Funnily enough, one idea in my mind for post FIRE is to do more study.
I had my first after school job when I was 14. I did my 2 degrees through night school. I haven’t been unemployed since I was 14, I struggle to imagine returning to being a primordial 13 again. I def don’t want to spend my weeks lying on the sofa,
In FIRE we will travel a bit, but I can’t imagine travelling more than 2- 3 months a year long term.
I will enjoy long walks and camping with my dog.
I’ll get back into consistent regular exercise.
I will volunteer some time - not exactly sure where but have some foggy ideas. Some will be active stuff outdoors, but also being on some NFP Boards is a possibility given my professional background.
I’d love to get some metal work/ woodwork/ mechanic skills.... but showed zero aptitude in this for my whole life so am pretty sceptical about this becoming a part of my life long term.
DW wants to grow a lot of food, so I’ll be helping her with that.
I honestly feel I need/ want some tasks to keep my brain working, so returning to study is an option.
Post by: Fresh Bread on January 04, 2020, 10:04:04 PM
Sure, I have the cash to run away from my job and career, but what am I running to? I have no idea.
I was stuck on this question too, for years actually, so don't feel bad if you end up leaving our cohort (but FIRE Class of 2020 is the BEST!! Don't you want in?? haha) But now I look at it differently. I'm not so much leaving work, as returning to my primordial state of not having a job, like when I was a kid, or in college when I didn't need or want to work FT. Except now I have way more money. And don't have to go to class, do homework, or take tests. :)
Funnily enough, one idea in my mind for post FIRE is to do more study.
I had my first after school job when I was 14. I did my 2 degrees through night school. I haven’t been unemployed since I was 14, I struggle to imagine returning to being a primordial 13 again. I def don’t want to spend my weeks lying on the sofa,
In FIRE we will travel a bit, but I can’t imagine travelling more than 2- 3 months a year long term.
I will enjoy long walks and camping with my dog.
I’ll get back into consistent regular exercise.
I will volunteer some time - not exactly sure where but have some foggy ideas. Some will be active stuff outdoors, but also being on some NFP Boards is a possibility given my professional background.
I’d love to get some metal work/ woodwork/ mechanic skills.... but showed zero aptitude in this for my whole life so am pretty sceptical about this becoming a part of my life long term.
DW wants to grow a lot of food, so I’ll be helping her with that.
I honestly feel I need/ want some tasks to keep my brain working, so returning to study is an option.
Hi Itchyfeet,
If you will spend any amount of time in Sydney, The Bower Reuse Centre has a one day woodworking intro at Redfern. I did it and really enjoyed it. They also have a few other one day repair type courses. There's also short courses at another centre, at Marrickville I think, for more advanced woodwork, and an intro to welding, which I'm doing soon.
Post by: Linea_Norway on January 04, 2020, 11:24:39 PM
Sure, I have the cash to run away from my job and career, but what am I running to? I have no idea.
I was stuck on this question too, for years actually, so don't feel bad if you end up leaving our cohort (but FIRE Class of 2020 is the BEST!! Don't you want in?? haha) But now I look at it differently. I'm not so much leaving work, as returning to my primordial state of not having a job, like when I was a kid, or in college when I didn't need or want to work FT. Except now I have way more money. And don't have to go to class, do homework, or take tests. :)
Funnily enough, one idea in my mind for post FIRE is to do more study.
I had my first after school job when I was 14. I did my 2 degrees through night school. I haven’t been unemployed since I was 14, I struggle to imagine returning to being a primordial 13 again. I def don’t want to spend my weeks lying on the sofa,
In FIRE we will travel a bit, but I can’t imagine travelling more than 2- 3 months a year long term.
I will enjoy long walks and camping with my dog.
I’ll get back into consistent regular exercise.
I will volunteer some time - not exactly sure where but have some foggy ideas. Some will be active stuff outdoors, but also being on some NFP Boards is a possibility given my professional background.
I’d love to get some metal work/ woodwork/ mechanic skills.... but showed zero aptitude in this for my whole life so am pretty sceptical about this becoming a part of my life long term.
DW wants to grow a lot of food, so I’ll be helping her with that.
I honestly feel I need/ want some tasks to keep my brain working, so returning to study is an option.
Hi Itchyfeet,
If you will spend any amount of time in Sydney, The Bower Reuse Centre has a one day woodworking intro at Redfern. I did it and really enjoyed it. They also have a few other one day repair type courses. There's also short courses at another centre, at Marrickville I think, for more advanced woodwork, and an intro to welding, which I'm doing soon.
It could also be an idea to start working parttime already now, so that you could get used to having more time off.
Post by: SpreadsheetMan on January 05, 2020, 01:13:45 AM
I’ll be 58, so not a very early ER, but I’ve done everything I want to do involving work so the time feels right to walk away. DW has already left her full-time job and is doing short-term lecturing contracts in subjects she enjoys.
We plan a 1year chill-out before a property shift to a different area (still UK). Not a downsize as such as the house will be a little larger and detached, but in a cheaper, more rural area.
Post by: Linea_Norway on January 05, 2020, 02:03:38 AM
I’m officially adding myself to 2020, I had “the talk” with my CEO back in December and set a date of 07/2020. Fits with the end of various major projects, so a natural break point.
I’ll be 58, so not a very early ER, but I’ve done everything I want to do involving work so the time feels right to walk away. DW has already left her full-time job and is doing short-term lecturing contracts in subjects she enjoys.
We plan a 1year chill-out before a property shift to a different area (still UK). Not a downsize as such as the house will be a little larger and detached, but in a cheaper, more rural area.
Welcome to the cohort.
Post by: ATS on January 06, 2020, 08:40:24 AM
These last couple of months are more stressful and anxiety-ridden than I expected, which is a surprise to me because I'm usually pretty easy-going. If I had to do it over again I wouldn't have had such a long runway to leave, two weeks and then out is my recommendation.
January is always a busy month with year-end close, add in training replacement and general anxiety about taking such a big step - it is weighing more heavily on me than it should.
I'm confident in my decision, I keep reminding myself to take it one day at a time and on February 1st everything is someone else's problem.
Did I mention only 19 days left?
Post by: RetireAbroadAt35 on January 06, 2020, 09:23:01 AM
I've started the conversation informally at work and am looking at a 4 week timeline to make it official. This is a high-stress time for us at work so it may be a bit rocky.
Post by: Linea_Norway on January 06, 2020, 12:20:46 PM
Can I join the 2020 party?
I've started the conversation informally at work and am looking at a 4 week timeline to make it official. This is a high-stress time for us at work so it may be a bit rocky.
Welcome.
Sure, what date/period do you want me to write on the list? Beginning of Feb?
Post by: Linea_Norway on January 06, 2020, 12:24:16 PM
I have 19 working days left - It was difficult to come back after the holidays.
These last couple of months are more stressful and anxiety-ridden than I expected, which is a surprise to me because I'm usually pretty easy-going. If I had to do it over again I wouldn't have had such a long runway to leave, two weeks and then out is my recommendation.
January is always a busy month with year-end close, add in training replacement and general anxiety about taking such a big step - it is weighing more heavily on me than it should.
I'm confident in my decision, I keep reminding myself to take it one day at a time and on February 1st everything is someone else's problem.
Did I mention only 19 days left?
19 days left! Good for you.
I felt my last few weeks go by slowly. But these will be the last weeks you actually work. You will survive those 19 days. And then: FREEDOM!
Post by: RetireAbroadAt35 on January 06, 2020, 09:22:35 PM
Welcome.First week of Feb. Hold me to it :)
Sure, what date/period do you want me to write on the list? Beginning of Feb?
Post by: CrazyIT on January 07, 2020, 07:54:16 AM
I have 19 working days left - It was difficult to come back after the holidays.
These last couple of months are more stressful and anxiety-ridden than I expected, which is a surprise to me because I'm usually pretty easy-going. If I had to do it over again I wouldn't have had such a long runway to leave, two weeks and then out is my recommendation.
January is always a busy month with year-end close, add in training replacement and general anxiety about taking such a big step - it is weighing more heavily on me than it should.
I'm confident in my decision, I keep reminding myself to take it one day at a time and on February 1st everything is someone else's problem.
Did I mention only 19 days left?
65 days for me. I feel the same way some days I wish I would have just given a 2 week notice. One nice thing for me is that many people I work with are in other regions and I don't see them but maybe once a quarter. Giving a long notice I have been able to catch up and say my goodbyes to many good people I wouldn't have with a shorter notice.
The days will go by fast!!
Post by: alienbogey on January 07, 2020, 09:57:30 PM
:)
Post by: aspiringnomad on January 07, 2020, 10:09:28 PM
I have 19 working days left - It was difficult to come back after the holidays.
These last couple of months are more stressful and anxiety-ridden than I expected, which is a surprise to me because I'm usually pretty easy-going. If I had to do it over again I wouldn't have had such a long runway to leave, two weeks and then out is my recommendation.
January is always a busy month with year-end close, add in training replacement and general anxiety about taking such a big step - it is weighing more heavily on me than it should.
I'm confident in my decision, I keep reminding myself to take it one day at a time and on February 1st everything is someone else's problem.
Did I mention only 19 days left?
65 days for me. I feel the same way some days I wish I would have just given a 2 week notice.
This is interesting. I've got the urge to get it over with and give notice this week, mainly so that it's done with and off my mind. But I'm also partly thinking it would better for the company and also selfishly hoping I don't get any important tasks once I do. As it is, I'm planning to give ~three months notice towards the end of this month, so bumping it up a week or two shouldn't make much of a difference either way.
Post by: Linea_Norway on January 08, 2020, 03:01:18 AM
My wife's last day was today as planned. We just got back from our celebratory dinner out.
:)
Congrats.
Post by: ysette9 on January 08, 2020, 08:04:12 AM
Post by: Linea_Norway on January 08, 2020, 08:18:04 AM
This feels weird to say on this thread, but I return to work today from my maternity leave. I am anticipating a tough transition so keeping in mind that this is temporary is helpful.
Good luck in your remaining working period.
If the could manage without you, they should also be able to when you will quit working.
Post by: MrMoogle on January 08, 2020, 11:51:38 AM
2020 is my date. I'll turn 35. I'll jump from 60% to 100% vesting. I'll have ~5 years of spending to know my actual annual expenses. Right now it's estimated, since I've been living overseas. Also, it gives time for ACA to settle out, so I can estimate that more accurately.
I hit 25x my estimated expenses this year, so I would jump on an offer to switch to part time. I want more than 25x for a 60 year retirement, and if I have a family one day, it will no longer be 25x.
Well, a lot has changed in 5 years. Mostly, I've had an illness which has increased my expenses. It caused me to take a year off, where I had a lot of medical expenses. I am 100% vested, and the company I work for was sold, and my stocks in it increased dramatically. The year off and the selling of the company have mostly canceled out, so I'm close to where I wanted to be 5 years ago. I'm not sure where my expenses are right now, so I still need to do some number crunching.
I did switch to part time last year, so I've made progress towards not working. I like my work and the people I work with, so it's not a big deal to work a bit longer. I need to do some planning before I make the leap, but it's still possible it'll be 2020.
Post by: MarcherLady on January 09, 2020, 02:24:13 PM
01/01/2020 firebrand's official day CONFIRMED
01/01/2020 Nancy CONFIRMED
01/07/2020 alienbogey's wife CONFIRMED
01/15/2020 Nifty
01/15/2020 Nickel (@55)
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
01/??/2020 Farmgirl (@61)
01/??/2020 Now-non
01/??/2020 or 07/??/2020 SugerMountain
02/??/2020 Freedomin5 (@38)
02/??/2020 RetireAbroadAt35
03/01/2020 Katmandew (@54)
03/06/2020 CrazyIT
03/??/2020 FInding_peace (@38)
03/??/2020 Lucky13 (@44)
03/??/2020 or 04/??/2020 Padonak
03/??/2020 or later 2020 Beeboy (@46)
03/31/2020 texxan1
04/03/2020 Maenad
04/14/2020 MarcherLady
04/??/2020 DreamFIRE
04/??/2020 Exit2019
04/??/2020 Itchyfeet
04/??/2020 Pennycounter
04/??/2020 or 05/??/2020 aspiringnomad (@37)
04/??/2020 or 05/??/2020 ysette9 (@38)
04/??/2020 or later 2020 robtown
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/??/2020 Rcc
05/??/2020 Body Surfer
05/??/2020 Lady Stash (@45)
05/??/2020 Aspiringnomad
06/01/2020 Albireo13 (@64)
06/05/2020 thelyon19
06/05/2020 rab-bit (@59)
06/??/2020 ixtap (date uncertain)
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07/24/2020 SugarMountain
07/??/2020 or later 2020 MMM123
07/??/2020 bas5252 (@55)
07/??/2020 2sk22
07/??/2020 SpreadsheetMan
08/01/2020 HappyCheerE (@55)
08/??/2020 Bateaux
09/??/2020 Dan23
10/??/2020 Rubyvroom
11/01/2020 Alienbogey
12/31/2020 BFGirl
12/??/2020 david_shin
12/??/2020 MoneyTree (@36)
12/??/2020 Nora (@42)
12/??/2020 Sand101
12/??/2020 TheFIExplorer
12/??/202? desk_jockey
??/??/202? Gumption
??/??/2020 EscapeVelocity2020
??/??/2020 apurplelife
??/??/2020 BlueMR2
??/??/2020 catccc
??/??/2020 DadzillaGorilla (FI@35, RE@40)
??/??/2020 FIREstache (@55)
??/??/2020 LadyMaWhiskers
??/??/2020 letsdoit
??/??/2020 onlykelsey
??/??/2020 tooqk4u22
??//??/2020 Fresh Bread
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
I've set a date: 14th April. I think I've added in everyone who joined or gave a date on this page, but I wasn't sure what your date is @CrazyIT?
@Nifty and @Nickel, you are up next, how are you feeling?
Post by: Freedomin5 on January 09, 2020, 03:19:58 PM
Post by: Farmgirl on January 10, 2020, 05:40:11 AM
Post by: Linea_Norway on January 10, 2020, 06:51:16 AM
01/01/2020 firebrand's official day CONFIRMED
01/01/2020 Nancy CONFIRMED
01/07/2020 alienbogey's wife CONFIRMED
01/15/2020 Nifty
01/15/2020 Nickel (@55) CONFIRMED
01/31/2020 ATS (@52) CONFIRMED
01/31/2020 DisplacedHoosier (@57) CONFIRMED
01/??/2020 Now-non
02/??/2020 RetireAbroadAt35
03/01/2020 Katmandew (@54)
03/06/2020 CrazyIT
03/??/2020 FInding_peace (@38)
03/??/2020 or 04/??/2020 Padonak
03/??/2020 or later 2020 Beeboy (@46)
03/31/2020 texxan1
03/31/2050 wildatheart (@53)
04/02/2020 CptCool
04/03/2020 Maenad
04/14/2020 MarcherLady
04/??/2020 DreamFIRE
04/??/2020 Exit2019
04/??/2020 Itchyfeet
04/??/2020 Pennycounter
04/24/2020 aspiringnomad (@37) Given notice
04/??/2020 or 05/??/2020 ysette9 (@38)
04/??/2020 or later 2020 robtown
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/15/2020 BeanCounter
05/15/2020 Lucky13 (@44)
05/??/2020 Rcc
05/??/2020 Body Surfer
05/??/2020 Lady Stash (@45)
06/01/2020 Albireo13 (@64)
06/05/2020 thelyon19
06/05/2020 rab-bit (@59)
06/16/2020 Kteach
06/??/2020 Farmgirl (@61)
06/??/2020 ixtap (date uncertain)
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07/01/2020 SugarMountain
07/24/2020 SugarMountain
07/??/2020 or later 2020 MMM123
07/??/2020 bas5252 (@55)
07/??/2020 2sk22
07/??/2020 SpreadsheetMan
08/01/2020 HappyCheerE (@55)
08/??/2020 Bateaux
09/??/2020 Dan23
10/??/2020 Rubyvroom
11/01/2020 Alienbogey
12/31/2020 BFGirl
12/31/2020 Freedomin5 (@38)
12/??/2020 david_shin
12/??/2020 MoneyTree (@36)
12/??/2020 Nora (@42)
12/??/2020 Sand101
12/??/2020 TheFIExplorer
??/??/2020 EscapeVelocity2020
??/??/2020 apurplelife
??/??/2020 BlueMR2
??/??/2020 catccc
??/??/2020 DadzillaGorilla (FI@35, RE@40)
??/??/2020 FIREstache (@55)
??/??/2020 LadyMaWhiskers
??/??/2020 letsdoit
??/??/2020 onlykelsey
??/??/2020 tooqk4u22
??//??/2020 Fresh Bread
12/??/202? desk_jockey
??/??/202? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: desk_jockey on January 10, 2020, 02:00:07 PM
F.I.: After paying off the remaining principle on the house we would be ~ 3.75% WR, with our current budget adjusted for anticipated additional costs of healthcare and other benefits provided by employer.
R.E: Right now, I’m unsure as to when I’ll complete the acronym and Retire Early. DW will likely do so this year. For the short term I’m trying to become more SWAMI as I figure out the following:
- Purpose: Thinking that it’s better to go toward something than flee from something, I need a better idea of what comes next. Much of what we’ve worked towards for the past years came to fruition in 2019. While I’m very grateful for that, I recognize the need to outline some structure and purpose for the next phase of my life.
- Job/Career: There is a project that I want to see through to completion in the latter part of this year. After that, it’s TBD. There are many aspects of the job and company that I love and some that I hate immensely. If I can keep the good, drop the bad, and get more free time then I’m likely to SWAMI into a future class.
- Toys: There are a few toys I’d like to have now that everything else is covered. I’m more likely to purchase toys while I’m still working.
- Buffer: I don’t feel the need to save below a 3.5% WR like some, but I would like a reasonable fund that is mentally set aside for spending on potential over-budget items in the first years of retirement (e.g. home repairs, big medical costs, a kick-ass exaggerated vacation). If nothing else, a separate amount allocated to be intentionally used on one-off extra spending events would allow me to not obsess over the budget in RE.
- Social: Too much of my social life is work-related. I know the tendencies of what will happen with that. I need to focus on non-work, off-line relationships and determine how I’ll find community.
- Fear: It’s a big step. It’s an unconventional step. Health insurance costs is a concern. I admit to having to work on the mental aspect.
Post by: Linea_Norway on January 10, 2020, 02:24:53 PM
Reviewing numbers on 01Jan confirms we’ve reached the halfway point. Half-way through the acronym that is. So, in my best Michael Scott voice... “I DECLARE F.I.”
F.I.: After paying off the remaining principle on the house we would be ~ 3.75% WR, with our current budget adjusted for anticipated additional costs of healthcare and other benefits provided by employer.
R.E: Right now, I’m unsure as to when I’ll complete the acronym and Retire Early. DW will likely do so this year. For the short term I’m trying to become more SWAMI as I figure out the following:I make no promises that I’ll fully join the RE Class of 2020 but will check back into this thread with updates on the points as I make my way closer.
- Purpose: Thinking that it’s better to go toward something than flee from something, I need a better idea of what comes next. Much of what we’ve worked towards for the past years came to fruition in 2019. While I’m very grateful for that, I recognize the need to outline some structure and purpose for the next phase of my life.
- Job/Career: There is a project that I want to see through to completion in the latter part of this year. After that, it’s TBD. There are many aspects of the job and company that I love and some that I hate immensely. If I can keep the good, drop the bad, and get more free time then I’m likely to SWAMI into a future class.
- Toys: There are a few toys I’d like to have now that everything else is covered. I’m more likely to purchase toys while I’m still working.
- Buffer: I don’t feel the need to save below a 3.5% WR like some, but I would like a reasonable fund that is mentally set aside for spending on potential over-budget items in the first years of retirement (e.g. home repairs, big medical costs, a kick-ass exaggerated vacation). If nothing else, a separate amount allocated to be intentionally used on one-off extra spending events would allow me to not obsess over the budget in RE.
- Social: Too much of my social life is work-related. I know the tendencies of what will happen with that. I need to focus on non-work, off-line relationships and determine how I’ll find community.
- Fear: It’s a big step. It’s an unconventional step. Health insurance costs is a concern. I admit to having to work on the mental aspect.
Congrats on being FI!
Post by: itchyfeet on January 10, 2020, 10:04:32 PM
Reviewing numbers on 01Jan confirms we’ve reached the halfway point. Half-way through the acronym that is. So, in my best Michael Scott voice... “I DECLARE F.I.”
F.I.: After paying off the remaining principle on the house we would be ~ 3.75% WR, with our current budget adjusted for anticipated additional costs of healthcare and other benefits provided by employer.
R.E: Right now, I’m unsure as to when I’ll complete the acronym and Retire Early. DW will likely do so this year. For the short term I’m trying to become more SWAMI as I figure out the following:I make no promises that I’ll fully join the RE Class of 2020 but will check back into this thread with updates on the points as I make my way closer.
- Purpose: Thinking that it’s better to go toward something than flee from something, I need a better idea of what comes next. Much of what we’ve worked towards for the past years came to fruition in 2019. While I’m very grateful for that, I recognize the need to outline some structure and purpose for the next phase of my life.
- Job/Career: There is a project that I want to see through to completion in the latter part of this year. After that, it’s TBD. There are many aspects of the job and company that I love and some that I hate immensely. If I can keep the good, drop the bad, and get more free time then I’m likely to SWAMI into a future class.
- Toys: There are a few toys I’d like to have now that everything else is covered. I’m more likely to purchase toys while I’m still working.
- Buffer: I don’t feel the need to save below a 3.5% WR like some, but I would like a reasonable fund that is mentally set aside for spending on potential over-budget items in the first years of retirement (e.g. home repairs, big medical costs, a kick-ass exaggerated vacation). If nothing else, a separate amount allocated to be intentionally used on one-off extra spending events would allow me to not obsess over the budget in RE.
- Social: Too much of my social life is work-related. I know the tendencies of what will happen with that. I need to focus on non-work, off-line relationships and determine how I’ll find community.
- Fear: It’s a big step. It’s an unconventional step. Health insurance costs is a concern. I admit to having to work on the mental aspect.
Congrats on being FI!
Yeah, congrats 🍾
All of your bullets strike a chord with me too. I think now you are FI you will find the courage to quell your fears and that bullet point will fall off the list and won’t be an impediment to you chasing what you want from life, be it FIRE or continuing to work.
Not taking action because of “fear” is something I am sure we would all agree is good to try and avoid.
I am pricing in a few extravagances into our budget too, which adds to the post FIRE rewards and removes any fear. New adventures await.
Post by: ysette9 on January 10, 2020, 10:17:01 PM
Post by: MarcherLady on January 11, 2020, 12:57:53 AM
Re social and purpose: I have spent the last few months trying to imagine what my life/routine is going to look like in FIRE and starting to build contacts and ideas to keep me busy: volunteering, exercise, socialising etc. This has the added bonus of starting to make it feel real, and beginning to squash the fear. I'm now at the point where I am impatient to get started on the next chapter.
Post by: Linea_Norway on January 11, 2020, 07:24:01 AM
Are you both on schedule?
Post by: aspiringnomad on January 11, 2020, 10:01:07 AM
01/01/2020 Linea_Norway's official day (@46) CONFIRMED
01/01/2020 firebrand's official day CONFIRMED
01/01/2020 Nancy CONFIRMED
01/07/2020 alienbogey's wife CONFIRMED
01/15/2020 Nifty
01/15/2020 Nickel (@55)
01/31/2020 ATS (@52)
01/31/2020 DisplacedHoosier (@57)
01/??/2020 Now-non
01/??/2020 or 07/??/2020 SugerMountain
02/??/2020 RetireAbroadAt35
03/01/2020 Katmandew (@54)
03/06/2020 CrazyIT
03/??/2020 FInding_peace (@38)
03/??/2020 Lucky13 (@44)
03/??/2020 or 04/??/2020 Padonak
03/??/2020 or later 2020 Beeboy (@46)
03/31/2020 texxan1
04/03/2020 Maenad
04/14/2020 MarcherLady
04/??/2020 DreamFIRE
04/??/2020 Exit2019
04/??/2020 Itchyfeet
04/??/2020 Pennycounter
04/24/2020 aspiringnomad (@37)
04/??/2020 or 05/??/2020 ysette9 (@38)
04/??/2020 or later 2020 robtown
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/??/2020 Rcc
05/??/2020 Body Surfer
05/??/2020 Lady Stash (@45)
06/01/2020 Albireo13 (@64)
06/05/2020 thelyon19
06/05/2020 rab-bit (@59)
06/??/2020 Farmgirl (@61)
06/??/2020 ixtap (date uncertain)
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07/24/2020 SugarMountain
07/??/2020 or later 2020 MMM123
07/??/2020 bas5252 (@55)
07/??/2020 2sk22
07/??/2020 SpreadsheetMan
08/01/2020 HappyCheerE (@55)
08/??/2020 Bateaux
09/??/2020 Dan23
10/??/2020 Rubyvroom
11/01/2020 Alienbogey
12/31/2020 BFGirl
12/31/2020 Freedomin5 (@38)
12/??/2020 david_shin
12/??/2020 MoneyTree (@36)
12/??/2020 Nora (@42)
12/??/2020 Sand101
12/??/2020 TheFIExplorer
??/??/2020 EscapeVelocity2020
??/??/2020 apurplelife
??/??/2020 BlueMR2
??/??/2020 catccc
??/??/2020 DadzillaGorilla (FI@35, RE@40)
??/??/2020 FIREstache (@55)
??/??/2020 LadyMaWhiskers
??/??/2020 letsdoit
??/??/2020 onlykelsey
??/??/2020 tooqk4u22
??//??/2020 Fresh Bread
12/??/202? desk_jockey
??/??/202? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Kteach on January 11, 2020, 02:45:58 PM
I've been lurking for a long time, but finally decided to join the list. My last day of work will be June 16, official retirement date is July 1. My dh, also a teacher, retired a few years ago. We've been sort of FI for awhile-just waiting for me to reach my full pension.
Post by: desk_jockey on January 11, 2020, 04:12:25 PM
All of your bullets strike a chord with me too. I think now you are FI you will find the courage to quell your fears and that bullet point will fall off the list and won’t be an impediment to you chasing what you want from life, be it FIRE or continuing to work.Thanks for the thoughts. The fear is a snap shot in time. As I work through a few other bullet points this year the fear point will diminish. Like taking a first jump off the high dive board at the swimming pool, there’s fear that takes a moment to overcome. Though at the current Shiller PE ratio, maybe the 10m platform is a better analogy.
Not taking action because of “fear” is something I am sure we would all agree is good to try and avoid.
Once I complete the project for my own personal satisfaction, I don’t have a milestone date that is different than any other day, as there is no pension to vest or service anniversary date to pass. I’d love to be “pushed off the diving board” with a severance package, but that’s unlikely to happen. I won’t wait around years hoping for such a departing gift.
Re social and purpose: I have spent the last few months trying to imagine what my life/routine is going to look like in FIRE and starting to build contacts and ideas to keep me busy: volunteering, exercise, socialising etc. This has the added bonus of starting to make it feel real, and beginning to squash the fear. I'm now at the point where I am impatient to get started on the next chapter.
Yes, this is what I need to develop during 2020. It was easy to compile a bucket list of the big things to do and experience in the next 30 years. Now I need to a vision for daily life.
Post by: wildatheart on January 11, 2020, 08:34:15 PM
53 and Nervously jumping into my FIRE as March 31, 2020.
2.5M in assets and half of it in 401ks.
Just bought my 3rd house and will be taking this first year to get all properties in good rental health and wisely investing in improvements and some leisure time for my wife and I.
We have a list of about 12 side hustles we are evaluating now which to go into full-bore.
Good luck everyone
Post by: Linea_Norway on January 13, 2020, 08:04:03 AM
Hi all,
I've been lurking for a long time, but finally decided to join the list. My last day of work will be June 16, official retirement date is July 1. My dh, also a teacher, retired a few years ago. We've been sort of FI for awhile-just waiting for me to reach my full pension.
Welcome. I guess it was worth it, waiting for a full pension.
Well done to reach FI as a teacher.
Post by: Linea_Norway on January 13, 2020, 08:05:41 AM
Yep,
53 and Nervously jumping into my FIRE as March 31, 2020.
2.5M in assets and half of it in 401ks.
Just bought my 3rd house and will be taking this first year to get all properties in good rental health and wisely investing in improvements and some leisure time for my wife and I.
We have a list of about 12 side hustles we are evaluating now which to go into full-bore.
Good luck everyone
Welcome. Sounds like you are in a very good financial position.
Post by: ATS on January 13, 2020, 03:36:26 PM
Someone said when you retire it's good to have two hobbies - one that keeps you fit and one that makes you money.
I have had a fun side hustle for years but I've let it decline over the last couple of years, letting work and other things get in the way. It incorporates things I like to do and I can control the amount of time I invest in it. I've always had ideas for it that I didn't have the time and energy to implement.
With Day 1 of FIRE approaching I've been spending time researching how I would manage it post-FIRE. I've been enjoying the planning and learning new things. It is a different challenge and uses mental and physical muscles I don't get to use at megacorp.
I'm comfortable with my stash but I also like the flexibility of additional cash flow if needed and the challenges this brings.
Did I mention 13 more days?
Post by: Freedomin5 on January 14, 2020, 03:33:17 PM
13 more megacorp work days to go for me.
Someone said when you retire it's good to have two hobbies - one that keeps you fit and one that makes you money.
I have had a fun side hustle for years but I've let it decline over the last couple of years, letting work and other things get in the way. It incorporates things I like to do and I can control the amount of time I invest in it. I've always had ideas for it that I didn't have the time and energy to implement.
With Day 1 of FIRE approaching I've been spending time researching how I would manage it post-FIRE. I've been enjoying the planning and learning new things. It is a different challenge and uses mental and physical muscles I don't get to use at megacorp.
I'm comfortable with my stash but I also like the flexibility of additional cash flow if needed and the challenges this brings.
Did I mention 13 more days?
How exciting! Congrats!
Post by: MoneyTree on January 14, 2020, 10:05:32 PM
it is a significant increase, but given that we were already planning on hitting the number this year, it doesn't move the FI date closer by all that much. Maybe by about a month.
I still think we'll stick with the end of the year, but hopefully now we will have some extra padding to the 'stache to accommodate possible additions to our family.
Post by: itchyfeet on January 15, 2020, 01:29:58 AM
Post by: RWTL on January 15, 2020, 05:56:08 AM
Welp, got about a 20% raise today.
it is a significant increase, but given that we were already planning on hitting the number this year, it doesn't move the FI date closer by all that much. Maybe by about a month.
I still think we'll stick with the end of the year, but hopefully now we will have some extra padding to the 'stache to accommodate possible additions to our family.
Nice job. That is a significant increase! Was that a promotion or just merit based? If merit, you're killing it!
Post by: Linea_Norway on January 15, 2020, 09:40:05 AM
13 more megacorp work days to go for me.
Someone said when you retire it's good to have two hobbies - one that keeps you fit and one that makes you money.
I have had a fun side hustle for years but I've let it decline over the last couple of years, letting work and other things get in the way. It incorporates things I like to do and I can control the amount of time I invest in it. I've always had ideas for it that I didn't have the time and energy to implement.
With Day 1 of FIRE approaching I've been spending time researching how I would manage it post-FIRE. I've been enjoying the planning and learning new things. It is a different challenge and uses mental and physical muscles I don't get to use at megacorp.
I'm comfortable with my stash but I also like the flexibility of additional cash flow if needed and the challenges this brings.
Did I mention 13 more days?
Nice, you will be the next confirmed here. Shall I change your date to the 26th?
Post by: MoneyTree on January 15, 2020, 10:29:05 AM
Welp, got about a 20% raise today.
it is a significant increase, but given that we were already planning on hitting the number this year, it doesn't move the FI date closer by all that much. Maybe by about a month.
I still think we'll stick with the end of the year, but hopefully now we will have some extra padding to the 'stache to accommodate possible additions to our family.
Nice job. That is a significant increase! Was that a promotion or just merit based? If merit, you're killing it!
Not quite a promotion, but last year, I took on a new, highly visible project that we finally launched in November. By all measures it was a big success, so when it came time for our performance reviews, that really stood out.
Post by: CptCool on January 16, 2020, 10:25:18 AM
Post by: ATS on January 16, 2020, 10:37:35 AM
13 more megacorp work days to go for me.
Someone said when you retire it's good to have two hobbies - one that keeps you fit and one that makes you money.
I have had a fun side hustle for years but I've let it decline over the last couple of years, letting work and other things get in the way. It incorporates things I like to do and I can control the amount of time I invest in it. I've always had ideas for it that I didn't have the time and energy to implement.
With Day 1 of FIRE approaching I've been spending time researching how I would manage it post-FIRE. I've been enjoying the planning and learning new things. It is a different challenge and uses mental and physical muscles I don't get to use at megacorp.
I'm comfortable with my stash but I also like the flexibility of additional cash flow if needed and the challenges this brings.
Did I mention 13 more days?
Nice, you will be the next confirmed here. Shall I change your date to the 26th?
13 more working days (10 more working days now) - 1/31/20 is still my last day.
Post by: jeroly on January 16, 2020, 02:24:51 PM
We are now at 94% of our targeted FIRE number.... I wonder how many months it will take to accumulate the final 6%..... hopefully not very many...
Or, if the market keeps going up like this, how many days :-)
Post by: aspiringnomad on January 16, 2020, 07:33:05 PM
Post by: MarcherLady on January 17, 2020, 12:25:06 AM
Gave notice today. Surreal.
Congratulations. How are you feeling now?
Post by: Linea_Norway on January 17, 2020, 02:16:39 AM
Add me to the list! Last day will likely be 4/2/2020!
Welcome.
Post by: Linea_Norway on January 17, 2020, 02:20:05 AM
Gave notice today. Surreal.
Congrats. Does the day still stand, in April?
A three month notice period is long, as I know from experience. But you will feel very different in the remaining time. Whenever you notice an annoying thing at work, you can have the attitude that it soon won't be your problem anymore.
Post by: itchyfeet on January 17, 2020, 04:36:20 AM
We are now at 94% of our targeted FIRE number.... I wonder how many months it will take to accumulate the final 6%..... hopefully not very many...
Or, if the market keeps going up like this, how many days :-)
Yes, I think it is above 95% now.... I am sure I will update my spreadsheet once more some time in the coming week.
Post by: DisplacedHoosier on January 17, 2020, 05:45:24 AM
Checking in to confirm my official last day at Magacorp will be Jan 31. Unofficially my last day in the office and tethered to the laptop and email will be the end of next week.
Still gravitating wildly between sheer excitement and sheer panic. Change is hard. 30+ years at Megacorp accounts for over half my life. This will be a big transition and I appreciate it will take some time to sink in. I'm very analytical (like most of you) and have been working the numbers for a few years. Very grateful the markets and our frugal lifestyle have provided this opportunity to give back some time to my DW, DD, extended family and community.
I will not miss the 1+ hour commutes, office politics, mindless meetings, and year-end performance reviews. I've never hated my job, but the last 5 years or so I feel the corporate environment has become stale and overly PC.
I will miss the people. I fear many of them are too caught up in the media's "the-sky-is-falling and you will never be able to retire" spell. Hope they realize there is also a life outside of Megacorp before it's too late.
Post by: Linea_Norway on January 17, 2020, 08:01:22 AM
Good luck in that last short working period.
Post by: aspiringnomad on January 17, 2020, 08:33:10 AM
Gave notice today. Surreal.
Congratulations. How are you feeling now?
Thanks! Quite a bit relieved after having the conversations, but not really as emotional as I thought I'd be. Not yet anyway.
Post by: aspiringnomad on January 17, 2020, 08:36:59 AM
Gave notice today. Surreal.
Congrats. Does the day still stand, in April?
A three month notice period is long, as I know from experience. But you will feel very different in the remaining time. Whenever you notice an annoying thing at work, you can have the attitude that it soon won't be your problem anymore.
Yep, the final date stands. It's a little bit awkward to have given so much notice, but for several reasons it was the right thing to do and what I would have wanted if I were in my supervisor's shoes.
And yes, there are some further out work responsibilities that I'm very relieved to know I won't have to deal with.
Post by: SailingOnASmallSailboat on January 17, 2020, 05:19:01 PM
Gave notice today. Surreal.
How amazing. Congrats!
Post by: Nickel on January 19, 2020, 01:20:33 PM
I put "confirmed" behind both @ATS and @DisplacedHoosier, as you both have given notice and know for sure.
Good luck in that last short working period.
Confirming FIRE on 15 January 2020.
Surreal to let go of institutional thoughts, commitments, angst, habits, and stress. Being alive is awesome. Blue skies. A new world of opportunity. Sometimes it hits me and I laugh out loud. Heard my wife tell my daughter that dad is acting giddy. Impulse flights to anywhere. “You weirdo,” smiling. Dance like nobody’s watching. Sleep in. Make dad jokes. Monday, traffic, deadlines, email, voicemails, timesheets, delays, unpleasant people... Honey badger don’t care. Cheers to all you FIRE folk. We are so damn lucky.
Post by: ysette9 on January 19, 2020, 03:32:34 PM
Life is beautiful! CongratsI put "confirmed" behind both @ATS and @DisplacedHoosier, as you both have given notice and know for sure.
Good luck in that last short working period.
Confirming FIRE on 15 January 2020.
Surreal to let go of institutional thoughts, commitments, angst, habits, and stress. Being alive is awesome. Blue skies. A new world of opportunity. Sometimes it hits me and I laugh out loud. Heard my wife tell my daughter that dad is acting giddy. Impulse flights to anywhere. “You weirdo,” smiling. Dance like nobody’s watching. Sleep in. Make dad jokes. Monday, traffic, deadlines, email, voicemails, timesheets, delays, unpleasant people... Honey badger don’t care. Cheers to all you FIRE folk. We are so damn lucky.
Post by: Linea_Norway on January 20, 2020, 06:01:43 AM
Confirming FIRE on 15 January 2020.
Surreal to let go of institutional thoughts, commitments, angst, habits, and stress. Being alive is awesome. Blue skies. A new world of opportunity. Sometimes it hits me and I laugh out loud. Heard my wife tell my daughter that dad is acting giddy. Impulse flights to anywhere. “You weirdo,” smiling. Dance like nobody’s watching. Sleep in. Make dad jokes. Monday, traffic, deadlines, email, voicemails, timesheets, delays, unpleasant people... Honey badger don’t care. Cheers to all you FIRE folk. We are so damn lucky.
Congrats!!!
I also feel great. Since the last two weeks at our cabin we have lived a relaxing life. Every day sleeping out, making a ski trip and relax/read for the rest of the day. Some cooking experiments in the evening, nice TV programs and sleep.
We are very lucky to be able to be here where the snow conditions are very good, as they are non existant at home this winter. And we can drive home outside the traffic queues. And being outside on weekdays in the middle of the day when there is daylight. Feeling very priviliged.
DH and I still received our vacation money from our former employers. That was saved up and taxed last year. So now we got an almost double net monthly payment tax free.
Post by: Katmandew on January 20, 2020, 07:35:02 AM
Linea_Norway: Congratulations and thank you for being such a good steward for this cohort and such a kind and supportive person! By the way, my last day of work will actually be on 2-28-2020! I think I told you 3-1-2020 because that will be my first day of freedom! Seeing my name just 4 down the list . . . don't wish my life away, don't wish it away. . . but it can't get here quick enough!
Post by: Linea_Norway on January 20, 2020, 10:18:52 AM
How are you both doing? Have you given notice yet? Or staying at work longer?
Post by: Linea_Norway on January 20, 2020, 10:21:17 AM
Nickel - Congrats! I am still about 6 weeks out but just reading your post makes me giddy! Very happy for you and your family.
Linea_Norway: Congratulations and thank you for being such a good steward for this cohort and such a kind and supportive person! By the way, my last day of work will actually be on 2-28-2020! I think I told you 3-1-2020 because that will be my first day of freedom! Seeing my name just 4 down the list . . . don't wish my life away, don't wish it away. . . but it can't get here quick enough!
Thanks. That is only 5,5 weeks left to work. I hope for you that they will fly by and that you also feel a bit giddy abour leaving soon.
Post by: BeanCounter on January 20, 2020, 11:29:46 AM
17 weeks still seems way too long to wait, but will get two bonuses and extra retirement $$ at the end of March. Waiting for that to hit before I give notice. So excited and scared at the same time.
Post by: ATS on January 21, 2020, 08:14:30 AM
I put "confirmed" behind both @ATS and @DisplacedHoosier, as you both have given notice and know for sure.
Good luck in that last short working period.
8 more working days for me after today - it seems so short yet so long.
Going through quarter and year-end close - still doesn't seem real this is the last time I have to go through this busy and stressful time.
It also is validating I made the right decision - I've lost the joy out of the challenges of doing this, it's been all stress and drudgery for the last couple of years.
Post by: CrazyIT on January 21, 2020, 09:10:40 AM
I put "confirmed" behind both @ATS and @DisplacedHoosier, as you both have given notice and know for sure.
Good luck in that last short working period.
8 more working days for me after today - it seems so short yet so long.
Going through quarter and year-end close - still doesn't seem real this is the last time I have to go through this busy and stressful time.
It also is validating I made the right decision - I've lost the joy out of the challenges of doing this, it's been all stress and drudgery for the last couple of years.
You forgot to mention 8 more days!!
Post by: Linea_Norway on January 21, 2020, 11:49:09 AM
May 15, 2020. Depending on how giving notice goes.
17 weeks still seems way too long to wait, but will get two bonuses and extra retirement $$ at the end of March. Waiting for that to hit before I give notice. So excited and scared at the same time.
Welcome.
I also gave notice a short period after getting my payraise for the previous half year.
Post by: exit2019 on January 21, 2020, 12:40:10 PM
I have a little post-it note on the side of my monitor stand upon which I maintain a countdown as a sort of one-word-per-day diary (day T-130: "hate", day T-128: "sad", day T-88: "bad", and so on). Technically, at my fire date I will go on unofficial leave for two months at that point since they hope I will come back but there's zero chance of that. I like things done cleanly and this isn't clean at all, but the golden handcuffs that got me to stay another year don't cliff until June. This was all agreed last year with my management chain when I OMY'd.
I realized that part of my anxiety about FIREing is that I still cling to a list of things that I haven't done yet. I've taken to describing this as a change of direction - it’s not like it’s a commitment to permanently not work, but rather, a break and trying something different. If I'm going to do those things, I guess I will do them differently. But maybe I should do different things.
Now, if they decide to screw me on the leave plan, well, then it's another two months. That would be amazing through.
Post by: SugarMountain on January 21, 2020, 03:17:48 PM
@Now-non and @SugarMountain
How are you both doing? Have you given notice yet? Or staying at work longer?
Current plan is July. We'll see.
Post by: Lucky13 on January 21, 2020, 09:04:09 PM
Post by: itchyfeet on January 22, 2020, 05:22:34 AM
We are now at 94% of our targeted FIRE number.... I wonder how many months it will take to accumulate the final 6%..... hopefully not very many...
Or, if the market keeps going up like this, how many days :-)
Yes, I think it is above 95% now.... I am sure I will update my spreadsheet once more some time in the coming week.
I took a few moments to update my spreadsheet. Confirmed. I am into the final 5% countdown.
Post by: BeanCounter on January 22, 2020, 08:26:40 AM
I’m now with BeanCounter targeting May 15th. Could do earlier if things go downhill at work but gives time to build more “cash cushion” which was my big takeaway from reading “Quit Like a Millionaire” which is now my favorite FIRE book. I’ve been reading some of the newer stuff to reassure myself I’m not missing anything. Like many of us I’m self-taught with finance and investing, but I’m feeling good about my plan. Told some family members this weekend and response was better than I expected. When DW quit her job she said she was taking a “gap year” to travel but then didn’t go back lol but I’m just saying I’m done for good. I’m more of an all-or-nothing person I guess. I’m learning so much about myself in this process.@Lucky13, what is the recommended cash cushion? I think we have two years of spending and I wonder if we’ve over done it.
Post by: ysette9 on January 22, 2020, 03:43:30 PM
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
Post by: Bateaux on January 22, 2020, 04:49:29 PM
We are now at 94% of our targeted FIRE number.... I wonder how many months it will take to accumulate the final 6%..... hopefully not very many...
Or, if the market keeps going up like this, how many days :-)
Yes, I think it is above 95% now.... I am sure I will update my spreadsheet once more some time in the coming week.
I took a few moments to update my spreadsheet. Confirmed. I am into the final 5% countdown.
95.2% of the goal.
Post by: Body Surfer on January 22, 2020, 05:35:25 PM
What is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
We are 48/52 cash...retire in late May. Pension will fund half projected monthly expenses until SS
Post by: alienbogey on January 22, 2020, 09:39:27 PM
Post by: Linea_Norway on January 23, 2020, 12:56:54 AM
What is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
8-9 in house. We plan to use half of that for a next house.
1 in cabin
4-4,5 in stock
0,4 in cash
4-5 in government pension
1 in other pension
As we are going to use up our FIRE stash in the next 20 years, we are a bit skeptic of putting all the money from the house sale into the stock market. We cannot afford to loose it if the marlet tanks. Maybe we will invest half of it or so.
Post by: 2sk22 on January 23, 2020, 08:00:02 AM
What is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
Same 60/40 like you. However, since my wife plans to keep working for a few more years (enjoys her job being an exec!) so I don't think this even matters much immediately. We will be continuing to accumulate even after I retire.
Post by: Lucky13 on January 23, 2020, 10:20:51 AM
https://earlyretirementnow.com/2018/05/23/the-ultimate-guide-to-safe-withdrawal-rates-part-25-more-flexibility-myths/ (https://earlyretirementnow.com/2018/05/23/the-ultimate-guide-to-safe-withdrawal-rates-part-25-more-flexibility-myths/))
Post by: sherr on January 23, 2020, 12:07:17 PM
overall AA is 70/30. IRA/401Ks accounts are at 100% stocks, since I don't plan on touching them for 15+ years, and taxable accounts are at 60/40.
Lucky13 probably knows all this already and I'm probably just reading too much into the phrasing, but I feel compelled to comment here in case it helps someone else out. Money is fungible, it makes no difference which account things are in or how long you think it'll be before you touch that particular account. What does matter is:
- What overall portfolio-wide asset allocation you want
- Taxes
- You should hold the bonds in a tax-advantaged account so that rebalancing and dividends are not taxable events.
- Given how low interest rates are it can be argued that today bonds are actually pretty tax-efficient and that it makes more sense to reserve the tax-advantaged space for the high-growth stocks, given that you can always switch things back later if the interest rates start to rise.
Edit:
I'm 90/10 and I keep my bonds in my 401k so I can rebalance or change my AA whenever I want to without having to care about tax implications.
Post by: ysette9 on January 23, 2020, 01:01:12 PM
Sounds like you married wellWhat is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
Same 60/40 like you. However, since my wife plans to keep working for a few more years (enjoys her job being an exec!) so I don't think this even matters much immediately. We will be continuing to accumulate even after I retire.
Post by: rab-bit on January 23, 2020, 02:09:45 PM
I'm keeping my official date at June 5th for now but I will most likely move it up to early April to align with hers.
Post by: markbike528CBX on January 23, 2020, 03:18:51 PM
DW gave her notice on Tuesday which was met with near-panic by herJust make sure they stay in the near-panic mode, and get the negotiation done quickly before they realize how close April is :-) Awesome !captorsbosses. She is now negotiating a rentention bonus and increased salary to work a few days per week for the next couple of months so that they can hire a replacement for her to train. But she has told them that she has a hard stop the first week of April.
I'm keeping my official date at June 5th for now but I will most likely move it up to early April to align with hers.
Post by: aspiringnomad on January 23, 2020, 06:51:09 PM
What is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
Market investments are at 90/10, but we also have a couple years worth of living expenses in high-yield savings account from the sale of a house to fund our upcoming travel, plus a paid off rental property which is valued at about a fifth of our market investments. I'm not risk-adverse, and think I'll react pretty calmly if/when the market crashes. If a future crash is bad enough, and assuming it doesn't impact the real estate market as badly as the last one, I intend to sell the rental property and plow the proceeds into the market.
Post by: exit2019 on January 23, 2020, 07:21:22 PM
What is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
50-50 with a plan to aggressively move to 85-15 over the first 4 years.
Post by: ysette9 on January 23, 2020, 07:28:02 PM
How did you decide on a 4-year path?What is everyone’s asset allocation, if you don’t mind sharing?
We are at 60/40 with a loose plan to do a reverse equity glidepath and/or the spreadsheet companion to the book Living Off Your Money, if I can find time to input all of our stuff and see what it says.
50-50 with a plan to aggressively move to 85-15 over the first 4 years.
Post by: Lucky13 on January 23, 2020, 09:09:33 PM
Market investments are at 90/10, but we also have a couple years worth of living expenses in high-yield savings account from the sale of a house to fund our upcoming travel, plus a paid off rental property which is valued at about a fifth of our market investments. I'm not risk-adverse, and think I'll react pretty calmly if/when the market crashes. If a future crash is bad enough, and assuming it doesn't impact the real estate market as badly as the last one, I intend to sell the rental property and plow the proceeds into the market.So you'd sell the rental to get cash to "buy low" if/when the market crashes, wow that's impressive, I also have a couple paid off rental properties but idk if I'd have the guts to sell when my other assets just took a nosedive. Plus I'm counting on the rental income. Although the idea of taking advantage of a downturn is appealing.
Post by: JumboShrimp on January 23, 2020, 11:01:18 PM
Last day of work Feb 7.
No way would I be here now without the MMM blog and this forum, they have been incredibly inspiring and educational, I thank you all!
And now a new adventure begins!
Post by: Fresh Bread on January 23, 2020, 11:03:15 PM
______________________
I have a date for FI: Feb 29. It's two weeks after we should have tenants in our house.
Although I do feel like a bit of an imposter with the rent being so critical to being FI. I sort of feel like to declare as FI all our retirement income should be totally passive. I guess it's FI from 'the man' that counts.
Post by: Linea_Norway on January 24, 2020, 12:31:40 AM
Market investments are at 90/10, but we also have a couple years worth of living expenses in high-yield savings account from the sale of a house to fund our upcoming travel, plus a paid off rental property which is valued at about a fifth of our market investments. I'm not risk-adverse, and think I'll react pretty calmly if/when the market crashes. If a future crash is bad enough, and assuming it doesn't impact the real estate market as badly as the last one, I intend to sell the rental property and plow the proceeds into the market.So you'd sell the rental to get cash to "buy low" if/when the market crashes, wow that's impressive, I also have a couple paid off rental properties but idk if I'd have the guts to sell when my other assets just took a nosedive. Plus I'm counting on the rental income. Although the idea of taking advantage of a downturn is appealing.
There is a fair chance that when the stock market has a long period of low, that the housing market also will go down. Another strategy with a paid down house is to take up a mortgage on it to buy stock.
Post by: Linea_Norway on January 24, 2020, 12:37:49 AM
01/01/2020 firebrand's official day CONFIRMED
01/01/2020 Nancy CONFIRMED
01/07/2020 alienbogey's wife CONFIRMED
01/15/2020 Nifty
01/15/2020 Nickel (@55) CONFIRMED
01/31/2020 ATS (@52) Given notice
01/31/2020 DisplacedHoosier (@57) CONFIRMED
01/??/2020 Now-non
02/03/2020 grobinski (@52/53) Given notice
02/07/2020 JumboShrimp Given notice
02/07/2020 IslandFIGirl Given notice
02/29/2020 Fresh Bread
02/??/2020 RetireAbroadAt35
03/01/2020 Katmandew (@54)
03/01/2020 Bmjohnson (@50) Given notice
03/13/2020 CrazyIT Given notice
03/13/2020 ysette9 (@38)
03/20/2020 Mmm_donuts
03/??/2020 FInding_peace (@38)
03/??/2020 or 04/??/2020 Padonak
03/??/2020 or later 2020 Beeboy (@46)
03/31/2020 texxan1
03/31/2050 wildatheart (@53)
04/02/2020 CptCool
04/03/2020 Maenad
04/03/2020 rab-bit's wife Given notice
04/14/2020 MarcherLady
04/??/2020 DreamFIRE
04/??/2020 Exit2019
04/??/2020 Itchyfeet
04/??/2020 Pennycounter
04/24/2020 aspiringnomad (@37) Given notice
04/??/2020 or later 2020 robtown
04/??/2020 or later 2020 JoJo
05/01/2020 Much fishing to do
05/15/2020 SailingOnASmallSailboat's husband (@50/51)
05/15/2020 BeanCounter
05/15/2020 Lucky13 (@44)
05/22/2020 Body Surfer
05/??/2020 Rcc
05/??/2020 Lady Stash (@45)
06/01/2020 Albireo13 (@64)
06/05/2020 thelyon19
06/05/2020 (or April) rab-bit (@59)
06/16/2020 Kteach
06/??/2020 Farmgirl (@61)
06/??/2020 ixtap (date uncertain)
07/01/2020 FireLane (@38)
07/01/2020 Unique User (@50)
07/01/2020 SugarMountain
07/24/2020 SugarMountain
07/??/2020 or later 2020 MMM123
07/??/2020 bas5252 (@55)
07/??/2020 2sk22
07/??/2020 SpreadsheetMan
08/01/2020 HappyCheerE (@55)
08/??/2020 Bateaux
09/??/2020 Dan23
10/??/2020 Rubyvroom
11/01/2020 Alienbogey
12/31/2020 BFGirl
12/31/2020 Freedomin5 (@38)
12/??/2020 david_shin
12/??/2020 MoneyTree (@36)
12/??/2020 Nora (@42)
12/??/2020 Sand101
12/??/2020 TheFIExplorer
??/??/2020 EscapeVelocity2020
??/??/2020 apurplelife
??/??/2020 BlueMR2
??/??/2020 catccc
??/??/2020 DadzillaGorilla (FI@35, RE@40)
??/??/2020 FIREstache (@55)
??/??/2020 LadyMaWhiskers
??/??/2020 letsdoit
??/??/2020 onlykelsey
??/??/2020 tooqk4u22
??//??/2020 Fresh Bread
12/??/202? desk_jockey
??/??/202? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
Post by: Linea_Norway on January 24, 2020, 12:41:00 AM
Took the plunge today and gave notice.
Last day of work Feb 7.
No way would I be here now without the MMM blog and this forum, they have been incredibly inspiring and educational, I thank you all!
And now a new adventure begins!
Congrats. You are so lucky with only two weeks notice.
Post by: Linea_Norway on January 24, 2020, 12:42:45 AM
Congrats, mate, that's not long to wait at all.
______________________
I have a date for FI: Feb 29. It's two weeks after we should have tenants in our house.
Although I do feel like a bit of an imposter with the rent being so critical to being FI. I sort of feel like to declare as FI all our retirement income should be totally passive. I guess it's FI from 'the man' that counts.
I think it is indeed mostly FI from "the man" as you call it. Anything you would need to fix financially, you can call a side hustle, which is not a normal job.
Post by: Linea_Norway on January 24, 2020, 12:46:42 AM
DW gave her notice on Tuesday which was met with near-panic by herJust make sure they stay in the near-panic mode, and get the negotiation done quickly before they realize how close April is :-) Awesome !captorsbosses. She is now negotiating a rentention bonus and increased salary to work a few days per week for the next couple of months so that they can hire a replacement for her to train. But she has told them that she has a hard stop the first week of April.
I'm keeping my official date at June 5th for now but I will most likely move it up to early April to align with hers.
Yes, congrats. And make sure she sticks to that date. Chances are very there that the bosses won't have hired someone else by that time. When I gave notice, I had a mandatory three month notice period, and I gave 3,5 because that was natural. My boss panicked. But in three months they didn't manage to even hire a consultant, what I would have done. But not my problem.
Post by: markbike528CBX on January 24, 2020, 01:13:01 AM
On March 25th go for 5x the bonus for the month of April. That might stop the OMMonth,or if not, win/win!DW gave her notice on Tuesday which was met with near-panic by herJust make sure they stay in the near-panic mode, and get the negotiation done quickly before they realize how close April is :-) Awesome !captorsbosses. She is now negotiating a rentention bonus and increased salary to work a few days per week for the next couple of months so that they can hire a replacement for her to train. But she has told them that she has a hard stop the first week of April.
I'm keeping my official date at June 5th for now but I will most likely move it up to early April to align with hers.
Yes, congrats. And make sure she sticks to that date. Chances are very there that the bosses won't have hired someone else by that time. When I gave notice, I had a mandatory three month notice period, and I gave 3,5 because that was natural. My boss panicked. But in three months they didn't manage to even hire a consultant, what I would have done. But not my problem.
Post by: Linea_Norway on January 24, 2020, 01:32:38 AM
Would you like to join this cohort with your Jan 1rst FIRE?
Post by: exit2019 on January 24, 2020, 04:50:02 PM
Quote
How did you decide on a 4-year path?
I am not comfortable with the low-equities exposure and my entire focus is near term sequence of return risk based on the very high CAPE10. We will slow down or speed up based on how things look as we go.
Post by: ysette9 on January 24, 2020, 05:26:34 PM
Sounds like a reasonable compromiseQuoteHow did you decide on a 4-year path?
I am not comfortable with the low-equities exposure and my entire focus is near term sequence of return risk based on the very high CAPE10. We will slow down or speed up based on how things look as we go.
Post by: grobinski on January 25, 2020, 03:37:39 PM
My official last day is Feb3! I've been on vacation since Jan3, so the FIRE is lit. SO has been done since Dec 12th, so the whole unit is on FIRE at 52/53yo.
I'm still suffering from occasional financial reality terror, but all of the simulators I occasionally plug numbers into give us a significant margin of error.
Recently qualified for MinnesotaCare insurance plan ($72pp/mo) so that is a good resolution of what was previously a significant grey area.
The plan for the next couple of months are to ease into more free time, longer international trips, focus on physical/psychological well-being, look for new passions, maybe explore sideline incomes.
Hard to believe this is real!
Post by: SailingOnASmallSailboat on January 25, 2020, 03:50:18 PM
SIGN ME UP!!
My official last day is Feb3! I've been on vacation since Jan3, so the FIRE is lit. SO has been done since Dec 12th, so the whole unit is on FIRE at 52/53yo.
I'm still suffering from occasional financial reality terror, but all of the simulators I occasionally plug numbers into give us a significant margin of error.
Recently qualified for MinnesotaCare insurance plan ($72pp/mo) so that is a good resolution of what was previously a significant grey area.
The plan for the next couple of months are to ease into more free time, longer international trips, focus on physical/psychological well-being, look for new passions, maybe explore sideline incomes.
Hard to believe this is real!
WHOOOOOO Congratulations!!
Post by: bmjohnson35 on January 25, 2020, 05:01:41 PM
I submitted my notice on Wednesday. I will be officially retired as of March 1st. I turn 50 next month.
Looking forward to the change. My wife is already retired. We plan to join a gym and start focusing on our health initially.
So far, we have two cruises booked and planning to take a road trip out west this summer.
BJ
Post by: ysette9 on January 25, 2020, 09:42:55 PM
The plan I am swirling around is to wait for my Feb stock to vest on the 25th, wait to be able to sell it, and then turn in my 2-week notice. So that would put my last day somewhere around 13 March.
My husband is currently on paternity leave through the end of April and I would really like that time at home with him and the baby for the two of us. We don’t get much time together with a small herd of kids running about, and I think it would be really good for us. Plus a preview of real FIRE. He plans on another year or so for various reasons.
Post by: Mmm_Donuts on January 26, 2020, 09:55:38 AM
We were chatting last night about how we basically went from negative net worth (we had a large mortgage) to mortgage-free and close to our FI number in LNW in <10 years. It's been quite a ride and while there's a part of me that wants to keep pushing through it to a more secure LNW before quitting, or just wait it out till after the next recession, I just. Can't. Do it. Work stress is starting to affect my health and relationships (if it hasn't already) so I am officially done working FT this year.
My end date is loose but will happen when I see signs of my current project wrapping up. This should be mid April. I will give notice sometime in March. I intend to go part time, and this should be doable, but if not then I will just quit.
So tentative resignation date -- March 20 2020.
Thanks to amazing people on this forum for the push to realize that it's just not worth it and that you can indeed feel like you're never secure enough, that there is never enough for 100% security. I recognize this in myself and could easily see reaching the FI # and then worrying about something else, moving the target higher. No way. I'm DONE. :)
Post by: halftimeprof on January 26, 2020, 06:09:31 PM
I plan to stay half time for up to five more years if I am still enjoying the work, but DH will cut the cord July 1.
Post by: Linea_Norway on January 27, 2020, 01:32:12 AM
Moved to half-time Jan 1, 2020. Hugh sigh of relief.
I plan to stay half time for up to five more years if I am still enjoying the work, but DH will cut the cord July 1.
Good idea to work part time. Makes it a lot easier to live with.
I wonder how that will work for you if your wife stops working and whether you will be temped to stop as well.
Post by: Linea_Norway on January 27, 2020, 01:38:15 AM
I would like to join this thread! I started out in the 2023 thread, then moved to the 2021 thread, but I'd like to do Coast FI before I retire fully (which will probably be next year, or maybe sooner.) Work has gotten increasingly stressful, my husband still works, and our investments have done well over the past few years.
We were chatting last night about how we basically went from negative net worth (we had a large mortgage) to mortgage-free and close to our FI number in LNW in <10 years. It's been quite a ride and while there's a part of me that wants to keep pushing through it to a more secure LNW before quitting, or just wait it out till after the next recession, I just. Can't. Do it. Work stress is starting to affect my health and relationships (if it hasn't already) so I am officially done working FT this year.
My end date is loose but will happen when I see signs of my current project wrapping up. This should be mid April. I will give notice sometime in March. I intend to go part time, and this should be doable, but if not then I will just quit.
So tentative resignation date -- March 20 2020.
Thanks to amazing people on this forum for the push to realize that it's just not worth it and that you can indeed feel like you're never secure enough, that there is never enough for 100% security. I recognize this in myself and could easily see reaching the FI # and then worrying about something else, moving the target higher. No way. I'm DONE. :)
Well done moving your plan foreward by several years. I started out in the 2025 cohort, until I calculated how much we actually needed to FIRE.
It is so definitely not worth it to work yourself unhealthy. I was there as well and I fell so much better now. Although I still manage to build up some stress because of small things at home I want to manage. But it is not like at work where I felt I had to manage stuff I didn't have control over.
Post by: IslandFiGirl on January 27, 2020, 10:50:52 AM
Post by: CrazyIT on January 27, 2020, 10:55:54 AM
Market investments are at 90/10, but we also have a couple years worth of living expenses in high-yield savings account from the sale of a house to fund our upcoming travel, plus a paid off rental property which is valued at about a fifth of our market investments. I'm not risk-adverse, and think I'll react pretty calmly if/when the market crashes. If a future crash is bad enough, and assuming it doesn't impact the real estate market as badly as the last one, I intend to sell the rental property and plow the proceeds into the market.So you'd sell the rental to get cash to "buy low" if/when the market crashes, wow that's impressive, I also have a couple paid off rental properties but idk if I'd have the guts to sell when my other assets just took a nosedive. Plus I'm counting on the rental income. Although the idea of taking advantage of a downturn is appealing.
My pre-tax accounts: are 80/20 Index funds/Bonds After tax money: also own a couple paid off rentals so that is 50/30/20 Realestate/Cash-bonds/Stock
At some point I would love to get rid of the rentals and move more to equities. Rentals a great tax savings when there is income from a day job.
Starting in March I won't need that!
I changed my last day from March 6th to March 13th and have given notice.
Post by: aspiringnomad on January 27, 2020, 11:39:08 AM
Market investments are at 90/10, but we also have a couple years worth of living expenses in high-yield savings account from the sale of a house to fund our upcoming travel, plus a paid off rental property which is valued at about a fifth of our market investments. I'm not risk-adverse, and think I'll react pretty calmly if/when the market crashes. If a future crash is bad enough, and assuming it doesn't impact the real estate market as badly as the last one, I intend to sell the rental property and plow the proceeds into the market.So you'd sell the rental to get cash to "buy low" if/when the market crashes, wow that's impressive, I also have a couple paid off rental properties but idk if I'd have the guts to sell when my other assets just took a nosedive. Plus I'm counting on the rental income. Although the idea of taking advantage of a downturn is appealing.
I like to think I would. I bought the rental out of foreclosure in a gentrifying neighborhood, so it's done well, but I think most of the above-normal appreciation is now baked in. Going forward, I expect it's price to roughly track inflation plus a little extra because my city has strict zoning requirements. I'm keeping it for now because we have an awesome tenant and because my wife really likes the idea of having the constant income from rent and just generally having RE as part of our portfolio.
But I'm the one that deals with any repair, HOA, licensing, etc. issues. It's not a ton of effort but more work than an index fund. Mostly, I prefer the idea of millions of people in thousands of companies working everyday to make me more profit as a shareholder, especially if buying into that arrangement becomes significantly cheaper than it is now. Also, since we won't qualify for the capital gains exemption with this property, we'll want to sell during a year in which we have little other income. If there's a crash in the financial markets, that will dovetail with when I'll need some cash to throw at stocks.
Post by: JoJo on January 27, 2020, 12:24:05 PM
Post by: Linea_Norway on January 27, 2020, 11:26:34 PM
I really can't believe I'm here and actually have an END date for my job...February 7th, but here i am nonetheless. I finally got fed up enough with having no life outside of work that I sat at a table in Chick Fil A this past Friday and gave my notice. I'm super excited for all of us FIRE'ing this year. I have a feeling it's going to be EVERYTHING I ever thought it would be! Good luck to the rest of you waiting to finish out your time working! Can't wait to read through all of your stories! :)
Welcome. Very good to quit a job that you are fed up with.
I'm putting my hat in the 2020 ring... I've been in both the 2018 and 2019. I went part time (to 62.5%) three years ago, it's difficult to give up the benefits (specifically tax deferral and health insurance). I don't have a date yet, need to work until at least the end of March.
Welcome. Working parttime is sometimes a good alternative, even though it takes a bit longer to reach your FIRE amount.
Post by: halftimeprof on January 28, 2020, 08:46:18 AM
Moved to half-time Jan 1, 2020. Hugh sigh of relief.
I plan to stay half time for up to five more years if I am still enjoying the work, but DH will cut the cord July 1.
Good idea to work part time. Makes it a lot easier to live with.
I wonder how that will work for you if your wife stops working and whether you will be temped to stop as well.
I didn't used to think I'd be tempted to stop, as I am happier with my work than DH and a bit worried I might become a couch potato, but I'm a bit worried that even half-time work will fill too much of my headspace. OTOH, the benefits are good and the schedule is flexible enough to allow us a lot of travel time, so I want to at least give it a try.
Post by: Lucky13 on January 28, 2020, 01:25:35 PM
I didn't used to think I'd be tempted to stop, as I am happier with my work than DH and a bit worried I might become a couch potato, but I'm a bit worried that even half-time work will fill too much of my headspace. OTOH, the benefits are good and the schedule is flexible enough to allow us a lot of travel time, so I want to at least give it a try.I was about to write that for me, part-time work would still take up "too much of my headspace" but then realized I haven't worked part time since finishing college, so I don't really know! so I tend to equate "work" with "full time work" but there are so many other options available now. (remote work, seasonal, etc)
Post by: Body Surfer on January 28, 2020, 05:59:54 PM
Post by: ysette9 on January 28, 2020, 06:42:51 PM
Shouldn’t I be feeling more something at this point? Excitement, trepidation, glee, worry, or just a sense of gravity of the change about to take place?
Post by: Body Surfer on January 28, 2020, 08:17:16 PM
Post by: Linea_Norway on January 29, 2020, 02:38:50 AM
Post by: DisplacedHoosier on January 29, 2020, 07:48:42 AM
Yesterday was my last day at megacorp after 11,180 days (30+ years) of service. Met with HR, signed a few papers and then had a nice small lunch with a few of my co-workers. Was home by around 3:30 and the next "phase" has begun.
Thanks to everyone in this forum for giving us the gentle nudge that helped us make this transition. I've been gainfully employed since I was delivering papers in my early teens and worked over 1/2 my life at megacorp, so this transition will take some time.
It was comforting that I didn't have to endure the commute this morning or call in for a mindless teleconference!
Post by: CrazyIT on January 29, 2020, 09:29:07 AM
It's done. Hard to believe.
Yesterday was my last day at megacorp after 11,180 days (30+ years) of service. Met with HR, signed a few papers and then had a nice small lunch with a few of my co-workers. Was home by around 3:30 and the next "phase" has begun.
Thanks to everyone in this forum for giving us the gentle nudge that helped us make this transition. I've been gainfully employed since I was delivering papers in my early teens and worked over 1/2 my life at megacorp, so this transition will take some time.
It was comforting that I didn't have to endure the commute this morning or call in for a mindless teleconference!
Congrats!! and I agree this site and its members have helped me immensely. I have always had a (MMM) stash but its very nice to have a community that shares and is like minded.
43 days and counting. 6 more Monday meetings
Post by: ATS on January 29, 2020, 10:46:29 AM
I am so caught in the now at work that I can hardly see past the circumstances. Friends and coworkers cannot understand why I am not making big plans beyond last days of work. I am too bogged down to make significant plans beyond a few minor summer trips. After I retire and get past the stench of work then I'll be able to think clearly about our future.
I am in a similar headspace and it was causing weird anxiety - I'm worried because I'm too worried about work and I'm not enjoying the anticipation of FIRE.
There is a lot going on with the work side of FIREing and I know care more than I should about a smooth year-end close and transition, but that's who I am and it's ok.
I gave myself permission to deal with it after my last day (Friday), I don't have to make any time-sensitive decisions right now - I want to enjoy the planning and the process and not squeeze it in between training a replacement and a process meeting.
Post by: exit2019 on January 29, 2020, 12:37:55 PM
Post by: IslandFiGirl on January 29, 2020, 01:01:18 PM
Post by: Linea_Norway on January 29, 2020, 01:16:59 PM
It's done. Hard to believe.
Yesterday was my last day at megacorp after 11,180 days (30+ years) of service. Met with HR, signed a few papers and then had a nice small lunch with a few of my co-workers. Was home by around 3:30 and the next "phase" has begun.
Thanks to everyone in this forum for giving us the gentle nudge that helped us make this transition. I've been gainfully employed since I was delivering papers in my early teens and worked over 1/2 my life at megacorp, so this transition will take some time.
It was comforting that I didn't have to endure the commute this morning or call in for a mindless teleconference!
Congrats. Not having to commute is a great thing, as is skipping mindless meetings. Never more!
Take your time and try out (new) hobbies.
Post by: GettingClose on January 29, 2020, 01:36:13 PM
My husband saw his last patient as of January 15, and is FIREd. He's still potentially doing some low-income clinic work, but it will be only because he wants to. He's finding it very strange - he says that he's walked around with a huge bucket of anxiety and stress for 30 years, and now that he's dumped it out there is a big, unsettling absence. He was a perfectionist at work; for example there is a particular procedure which is unsuccessful 5-7% of the time, but he only had two unsuccessful cases over his entire career, in good part due to his high anxiety about getting a good outcome. Now there's nothing to worry or stress about - all the kids will be launched by June, our marriage is excellent, our health is good, and so there's nothing to distract him from thinking about how he wants to live his life now that basically anything is possible.
I'm going half-time on April 1, and will probably do that for about a year. Even more exciting than that is that I have someone to replace all my management/planning/executive responsibilities, and I'll go back to being a pure developer. (OK, that's a bit of wishful thinking, but at least it will be a strong move in that direction.) This will make my work so much more fun, since it's rarely the development that is stressful. My hours will be calculated quarterly, so that I'll have the option of 30 days full time followed by 30 days off. In addition, I'll keep health insurance, keep 401(k) eligibility, and get paid overtime for extra hours! Around various certifications costing the company thousands of dollars per retest hour, I've several times worked 80-100 hour weeks on salary, so this will be great.
Like others have said above, "I'm a bit worried that even half-time work will fill too much of my headspace." If so, I can quit. At least I hope that I can - life without work is almost incomprehensible, despite working so long for FIRE.
Does this count as FIRE? Linea_Norway, how do I get my name and GettingCloseSpouse on the list if it does?
Post by: itchyfeet on January 29, 2020, 08:43:21 PM
I have always enjoyed change and I have always had difficulty making big decisions.
Now I have firmly made the decision to FIRE as soon as I hit my target number, I can’t wait for the final few percent of savings to accumulate in my stash.
I really look forward to posting on this thread Next year to report back on what unexpected twists and turns my life will take Post Fire. Adventure awaits.
Post by: Linea_Norway on January 30, 2020, 01:56:56 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
01/??/20 Now-non
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp Given notice
02/29/20 Fresh Bread
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) Given notice
03/13/20 CrazyIT Given notice
03/13/20 ysette9 (@38)
03/20/20 Mmm_donuts
03/??/20 FInding_peace (@38)
03/??/20 or 04/??/20 Padonak
03/??/20 or later 20 Beeboy (@46)
03/31/20 texxan1
03/31/20 wildatheart (@53)
04/02/20 CptCool
04/03/20. Maenad
04/09/20 rab-bit's wife Given notice
04/14/20 MarcherLady
04/??/20 DreamFIRE
04/??/20 Exit2019
04/??/20 Pennycounter
04/24/20 aspiringnomad (@37) Given notice
04/??/20 or later 20 robtown
04/??/20 - 07/??/20 JoJo
05/01/20 Much fishing to do
05/15/20 SailingOnASmallSailboat's DH (@50/51)
05/15/20 BeanCounter
05/15/20 Lucky13 (@44)
05/22/20 Body Surfer
05/31/20 Dee18
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/05/20 thelyon19
06/05/20 (or April) rab-bit (@59)
06/16/20 Kteach
06/??/20 Farmgirl (@61)
06/??/20 ixtap (date uncertain)
07/01/20 FireLane (@38)
07/01/20 Unique User (@50)
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20. bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/01/20 HappyCheerE (@55)
08/??/20 Bateaux
09/??/20 Dan23
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/30/20 Itchyfeet
11/??/20 Alternatepriorities
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 Sand101
12/??/20 TheFIExplorer
??/??/20 EscapeVelocity2020
??/??/20 apurplelife
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
12/??/20 desk_jockey
??/??/20? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Post by: Linea_Norway on January 30, 2020, 02:10:19 AM
Congratulations, CrazyIT, ATS, DisplacedHoosier, and IslandFiGirl!
My husband saw his last patient as of January 15, and is FIREd. He's still potentially doing some low-income clinic work, but it will be only because he wants to. He's finding it very strange - he says that he's walked around with a huge bucket of anxiety and stress for 30 years, and now that he's dumped it out there is a big, unsettling absence. He was a perfectionist at work; for example there is a particular procedure which is unsuccessful 5-7% of the time, but he only had two unsuccessful cases over his entire career, in good part due to his high anxiety about getting a good outcome. Now there's nothing to worry or stress about - all the kids will be launched by June, our marriage is excellent, our health is good, and so there's nothing to distract him from thinking about how he wants to live his life now that basically anything is possible.
I'm going half-time on April 1, and will probably do that for about a year. Even more exciting than that is that I have someone to replace all my management/planning/executive responsibilities, and I'll go back to being a pure developer. (OK, that's a bit of wishful thinking, but at least it will be a strong move in that direction.) This will make my work so much more fun, since it's rarely the development that is stressful. My hours will be calculated quarterly, so that I'll have the option of 30 days full time followed by 30 days off. In addition, I'll keep health insurance, keep 401(k) eligibility, and get paid overtime for extra hours! Around various certifications costing the company thousands of dollars per retest hour, I've several times worked 80-100 hour weeks on salary, so this will be great.
Like others have said above, "I'm a bit worried that even half-time work will fill too much of my headspace." If so, I can quit. At least I hope that I can - life without work is almost incomprehensible, despite working so long for FIRE.
Does this count as FIRE? Linea_Norway, how do I get my name and GettingCloseSpouse on the list if it does?
I think that switching to 50% for a year in an easier job will be very good for your mind, especially with the flexibility. If you can't imagine a life without work and it scares you, then you could try to develop more hobbies or habits during that year of part time work. Then the shock wouldn't be as big.
My husband also quit his management job before FIRE. But as it took some time to find a successor in a country with three month notice periods. So he got to enjoy his new role for only 4 months. But already that was noticeable. He had one problem colleague and now he could only think: not my problem anymore.
I put you both on the list. Your husband as FIREd and you as working a bit longer.
Post by: rab-bit on January 30, 2020, 02:11:18 AM
DW gave her notice on Tuesday which was met with near-panic by hercaptorsbosses. She is now negotiating a rentention bonus and increased salary to work a few days per week for the next couple of months so that they can hire a replacement for her to train. But she has told them that she has a hard stop the first week of April.
I'm keeping my official date at June 5th for now but I will most likely move it up to early April to align with hers.
DW has now signed a retention deal with additional compensation that will keep her employed until April 9. After that she will no longer be an employee but may occasionally do a few hours of consulting for them.
Also, we're far enough along with our condo renovation that we've started moving in there. The goal is to be completely moved out of our current residence and get it listed for sale by mid-February.
Post by: Linea_Norway on January 30, 2020, 02:18:10 AM
DW gave her notice on Tuesday which was met with near-panic by hercaptorsbosses. She is now negotiating a rentention bonus and increased salary to work a few days per week for the next couple of months so that they can hire a replacement for her to train. But she has told them that she has a hard stop the first week of April.
I'm keeping my official date at June 5th for now but I will most likely move it up to early April to align with hers.
DW has now signed a retention deal with additional compensation that will keep her employed until April 9. After that she will no longer be an employee but may occasionally do a few hours of consulting for them.
Also, we're far enough along with our condo renovation that we've started moving in there. The goal is to be completely moved out of our current residence and get it listed for sale by mid-February.
We will also list our house again, in the beginning of March. I hope we both succeed in sale for an acceptable price.
Post by: SailingOnASmallSailboat on January 30, 2020, 05:16:02 AM
Just got the internet bill for the house and I am so excited to not pay that bill anymore (we're moving onto our boat so won't have an internet bill.)
Post by: Linea_Norway on January 30, 2020, 06:50:27 AM
Good luck @rab-bit and @Linnea_Norway on the house sale front. We are planning to list our house in March as well.
Just got the internet bill for the house and I am so excited to not pay that bill anymore (we're moving onto our boat so won't have an internet bill.)
Will you be using mobile data on your phone? I consider an internet connection very vital nowadays. Even on a sailboat you would need it for weather, harbour information, etc.
Post by: Much Fishing to Do on January 30, 2020, 07:15:04 AM
Congratulations, CrazyIT, ATS, DisplacedHoosier, and IslandFiGirl!
I'm going half-time on April 1, and will probably do that for about a year. Even more exciting than that is that I have someone to replace all my management/planning/executive responsibilities, and I'll go back to being a pure developer. (OK, that's a bit of wishful thinking, but at least it will be a strong move in that direction.) This will make my work so much more fun, since it's rarely the development that is stressful. My hours will be calculated quarterly, so that I'll have the option of 30 days full time followed by 30 days off. In addition, I'll keep health insurance, keep 401(k) eligibility, and get paid overtime for extra hours! Around various certifications costing the company thousands of dollars per retest hour, I've several times worked 80-100 hour weeks on salary, so this will be great.
Like others have said above, "I'm a bit worried that even half-time work will fill too much of my headspace." If so, I can quit. At least I hope that I can - life without work is almost incomprehensible, despite working so long for FIRE.
This sounds very similar to the change I made a little over a year ago. Though the hours are sometimes heavy (things that need to get done now need to get done now), i generally average 20 week, which is about right for me (compared to the 70/wk I would often average), and though all the pains can't be forever ridden, the main stressors are gone (I was the business owner and the chance of losing real serious money was often real and in my face, now I get a paycheck). I'm currently in this cohort, and some weeks I can't wait to FIRE, but those are fewer and further between now as I get more settled into this new position.
Post by: SailingOnASmallSailboat on January 30, 2020, 07:21:23 AM
Good luck @rab-bit and @Linnea_Norway on the house sale front. We are planning to list our house in March as well.
Just got the internet bill for the house and I am so excited to not pay that bill anymore (we're moving onto our boat so won't have an internet bill.)
Will you be using mobile data on your phone? I consider an internet connection very vital nowadays. Even on a sailboat you would need it for weather, harbour information, etc.
Yes, we'll be using mobile data on the phone. You're right that internet is pretty important, although when we're crossing long oceans we still won't have it. (My husband developed a way to get weather routing information via a Garmin InReach, which we will have even when no internet is available.) So I suppose the more correct thing to say is that I'm excited to be done with the house internet bill; we already have our cell phones and that bill. :)
Post by: Alternatepriorities on January 30, 2020, 11:34:19 AM
Post by: Linea_Norway on January 30, 2020, 02:34:05 PM
We set my FIRE goal for my birthday of 2020 (in Nov) as our goal for FIRE a few years ago. Running the numbers with DW last night and realized we're already (skinny) FI!. We've also realized the DW isn't ready for RE just yet because she finds a lot of value and meaning in her work. She may work for 4-5 more years. I'm already self employed and not overly worried about how much I earn in a year but I'm not sure I want to keep it up past Nov. Can I still join to 2020 FIRE Cohort if DW keeps working?
Of course you can join the cohort. FIRing alone while your spouse is working, is real FIRE. Several people on this site do this. I hope you will enjoy your freedom and take over a few more of the home tasks that your wife currently does.
Post by: ysette9 on January 30, 2020, 03:40:38 PM
Post by: Alternatepriorities on January 30, 2020, 03:45:26 PM
Thanks!We set my FIRE goal for my birthday of 2020 (in Nov) as our goal for FIRE a few years ago. Running the numbers with DW last night and realized we're already (skinny) FI!. We've also realized the DW isn't ready for RE just yet because she finds a lot of value and meaning in her work. She may work for 4-5 more years. I'm already self employed and not overly worried about how much I earn in a year but I'm not sure I want to keep it up past Nov. Can I still join to 2020 FIRE Cohort if DW keeps working?
Of course you can join the cohort. FIRing alone while your spouse is working, is real FIRE. Several people on this site do this. I hope you will enjoy your freedom and take over a few more of the home tasks that your wife currently does.
I already take care of most of our home tasks since my self employment doesn't take as many hours as DWs employment. I don't think that will change much if I stop working. I will probably take on a project like remodeling or building a house to reduce our cost of living further and reduce energy use. I might go get my pilot's license but that would probably increase our spending...
Post by: GettingClose on January 30, 2020, 04:53:16 PM
I have a lot of hobbies and interests, so my concern is not how to spend the days. It will be the switch from being productive and useful and necessary to ... just doing what pleases myself. It will be the difference between spending the day solving problems and doing development for software of significant importance to finding a good recipe for dinner and reading Dorothy Sayers mysteries by the fire. On one hand - wonderful! Until I think of going to bed at night and reviewing the day before going to sleep. Hopefully "not my problem" will help a lot.
Much Fishing to Do, how hard was it to switch from being the guy that everyone looked to for answers/guidance to "employee" status? How do manage to work as a member of the group you once led? Was it difficult to transition the responsibilities from yourself to your replacement?
Post by: Linea_Norway on January 31, 2020, 03:47:47 AM
On Monday grobinski will follow. Maybe today is the last working day as well.
Last working week for IslandFIGirl and JumboShrimp.
Post by: ATS on January 31, 2020, 05:36:08 AM
Last working day for ATS today. I hope you enjoy your last day and have time for feel giddy
On Monday grobinski will follow. Maybe today is the last working day as well.
Last working week for IslandFIGirl and JumboShrimp.
Exit interview, eat some cake, lunch with coworkers, send out a farewell email, turn in badge and computer.
That’s on my to-do list today.
Post by: rab-bit on January 31, 2020, 06:01:07 AM
Post by: ysette9 on January 31, 2020, 10:50:12 AM
That is an excellent to do list. Congratulations and happy Friday!Last working day for ATS today. I hope you enjoy your last day and have time for feel giddy
On Monday grobinski will follow. Maybe today is the last working day as well.
Last working week for IslandFIGirl and JumboShrimp.
Exit interview, eat some cake, lunch with coworkers, send out a farewell email, turn in badge and computer.
That’s on my to-do list today.
Post by: openroadadventure on January 31, 2020, 01:54:29 PM
openroadadventure (@53/50) CONFIRMED
We are selling everything (including the house) and leaving town for a nationwide RV tour that could last anywhere between 1 and 10 years :-)
Post by: Alternatepriorities on January 31, 2020, 02:16:59 PM
Add us to 2020! I was planning to retire mid-April but evilcorp laid me off 2 weeks before Christmas (called me while on the road for them working 12 hour days and traveling cross-country on Saturdays). So woohoo!
openroadadventure (@53/50) CONFIRMED
We are selling everything (including the house) and leaving town for a nationwide RV tour that could last anywhere between 1 and 10 years :-)
1-10 year road trip sounds like fun. If you head up to Alaska and want any local guidance look me up.
"Evilcorp" is right. That's ridiculous but hooray for FI!
Post by: Dee18 on January 31, 2020, 04:20:20 PM
Post by: grobinski on January 31, 2020, 04:32:04 PM
Add us to 2020! I was planning to retire mid-April but evilcorp laid me off 2 weeks before Christmas (called me while on the road for them working 12 hour days and traveling cross-country on Saturdays). So woohoo!
openroadadventure (@53/50) CONFIRMED
We are selling everything (including the house) and leaving town for a nationwide RV tour that could last anywhere between 1 and 10 years :-)
Congrats and good luck openroadadventure! Perhaps our paths should cross!
Post by: grobinski on January 31, 2020, 04:56:47 PM
Last working day for ATS today. I hope you enjoy your last day and have time for feel giddy
On Monday grobinski will follow. Maybe today is the last working day as well.
Last working week for IslandFIGirl and JumboShrimp.
Congrats ATS!
Monday is my actual last working day, but i've been off since Jan 3. It has been wonderful! Have spent insane amounts of time reading, reflecting, traveling and getting my life in order!
Plan for Monday is:
Pass physical files to HR and supervisor
Turn in p-cards
Some cathartic cleaning
Help some clients
Support anybody I can
Turn in keys
Sign out of applications
Wipe computer accounts
Pass out thank you gifts
Dole out some candid parting wisdom (get over yourselves!)
Share a beverage or two with friends
Get out without regrets
This has been a 25 yr odyssey and the job and I are somewhat synonymous but the job will go on without me and I am looking forward to the next adventure!
grbnski!
Post by: IslandFiGirl on January 31, 2020, 05:21:16 PM
Congrats ATS!
Monday is my actual last working day, but i've been off since Jan 3. It has been wonderful! Have spent insane amounts of time reading, reflecting, traveling and getting my life in order!
Plan for Monday is:
Pass physical files to HR and supervisor
Turn in p-cards
Some cathartic cleaning
Help some clients
Support anybody I can
Turn in keys
Sign out of applications
Wipe computer accounts
Pass out thank you gifts
Dole out some candid parting wisdom (get over yourselves!)
Share a beverage or two with friends
Get out without regrets
This has been a 25 yr odyssey and the job and I are somewhat synonymous but the job will go on without me and I am looking forward to the next adventure!
grbnski!
[/quote]
Woo hoo! Last day sounds awesome, so many adventures to come!
Post by: SailingOnASmallSailboat on January 31, 2020, 08:25:06 PM
Add us to 2020! I was planning to retire mid-April but evilcorp laid me off 2 weeks before Christmas (called me while on the road for them working 12 hour days and traveling cross-country on Saturdays). So woohoo!
openroadadventure (@53/50) CONFIRMED
We are selling everything (including the house) and leaving town for a nationwide RV tour that could last anywhere between 1 and 10 years :-)
[/quote
Whoooooo congratulations!
Post by: Linea_Norway on January 31, 2020, 11:38:20 PM
Add us to 2020! I was planning to retire mid-April but evilcorp laid me off 2 weeks before Christmas (called me while on the road for them working 12 hour days and traveling cross-country on Saturdays). So woohoo!
openroadadventure (@53/50) CONFIRMED
We are selling everything (including the house) and leaving town for a nationwide RV tour that could last anywhere between 1 and 10 years :-)
Your are lucky to be in a situation where your lay-off wasn't problematic at all. Congrats for that.
Was your first retiree day on the first of Jan or today?
Post by: openroadadventure on February 03, 2020, 05:04:28 PM
Post by: aspiringnomad on February 03, 2020, 09:54:58 PM
Jan 1st was our official start of FIRE! Thanks for everyone's support!
Congrats!
Post by: aspiringnomad on February 03, 2020, 10:00:11 PM
https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/
Post by: Linea_Norway on February 04, 2020, 01:50:44 AM
@Fresh Bread are you on schedule to give notice to quit on the last day of Feb?
Post by: Fresh Bread on February 04, 2020, 02:05:21 AM
Post by: Linea_Norway on February 04, 2020, 02:21:25 AM
But on my phone it take a lot of time, therefore I only do a bit at the time. The rest will be done later.
I got nuts of the fact that the formatting was different on my ipad and my phone. Therefore the change.
Post by: Body Surfer on February 04, 2020, 07:41:18 AM
I am curently transferring the list into courier characters for formatting reasons and therefore need to make every line narrower by deleting characters.
But on my phone it take a lot of time, therefore I only do a bit at the time. The rest will be done later.
I got nuts of the fact that the formatting was different on my ipad and my phone. Therefore the change.
Linea_Norway: i am glad you are staying with us on this thread....would not be the same without you. Thanks for all u do for us
Post by: itchyfeet on February 04, 2020, 11:47:17 AM
Just pencil me in for 30 November for now. It could be earlier. We will see how the year goes.
I am not really sure what will the final trigger, but the long stop date has us back living in Australia, amongst family and friends before XMas.
Our tenants lease expires in August and we won’t sign a new lease term but leave it week to week from then on and tell them to vacate by Christmas. If they decide to vacate in August then we might move home then. We could also FIRE in June before our summer vacation, and if this is the case then I will give notice in March.
The volatility of the markets these past weeks has seen my NW bounce around a little, particularly as I am a bit exposed to emerging markets, but as of today I am now at 95.3% of my target number, so feel comfortable I will be close enough this year.
Post by: Lucky13 on February 04, 2020, 08:10:53 PM
I am not really sure what will the final trigger, but the long stop date has us back living in Australia, amongst family and friends before XMas.Does that mean you might have *two* summers, one in June-July (assuming you're now in Northern Hemisphere) and one in Australia's summer (Dec/Jan)? That sounds like a good plan. :)
Our tenants lease expires in August and we won’t sign a new lease term but leave it week to week from then on and tell them to vacate by Christmas. If they decide to vacate in August then we might move home then. We could also FIRE in June before our summer vacation, and if this is the case then I will give notice in March.
Post by: IslandFiGirl on February 04, 2020, 09:48:41 PM
Post by: ysette9 on February 04, 2020, 09:57:54 PM
Well, it's official, I had my last day at work and was officially done tonight at 7pm. I cried a little, I'm going to miss my good friends at work and then I got home and told myself HEY! you quit for a reason, quit yer crying...And THEN, after being home less than 10 minutes, I got a text asking me could I work tomorrow to cover for someone who is sick? HAHAHAHAHAHAHAHA....um, how about NOOOOOOOOO!!! Unbelievable! Stick a fork in me, I'm DONE!Done!!
Congrats on having made it to the finish line. What a perfect ending to make sure you don’t feel guilt or sad about leaving. Let them figure their problems out themselves now!
Post by: IslandFiGirl on February 04, 2020, 10:07:10 PM
Well, it's official, I had my last day at work and was officially done tonight at 7pm. I cried a little, I'm going to miss my good friends at work and then I got home and told myself HEY! you quit for a reason, quit yer crying...And THEN, after being home less than 10 minutes, I got a text asking me could I work tomorrow to cover for someone who is sick? HAHAHAHAHAHAHAHA....um, how about NOOOOOOOOO!!! Unbelievable! Stick a fork in me, I'm DONE!Done!!
Congrats on having made it to the finish line. What a perfect ending to make sure you don’t feel guilt or sad about leaving. Let them figure their problems out themselves now!
Yesssssss!!! Not my problem anymore...never going back. Never, ever!
Post by: markbike528CBX on February 04, 2020, 11:42:59 PM
Well, it's official, I had my last day at work and was officially done tonight at 7pm. I cried a little, I'm going to miss my good friends at work and then I got home and told myself HEY! you quit for a reason, quit yer crying...And THEN, after being home less than 10 minutes, I got a text asking me could I work tomorrow to cover for someone who is sick? HAHAHAHAHAHAHAHA....um, how about NOOOOOOOOO!!! Unbelievable! Stick a fork in me, I'm DONE!Done!!
Congrats on having made it to the finish line. What a perfect ending to make sure you don’t feel guilt or sad about leaving. Let them figure their problems out themselves now!
Yesssssss!!! Not my problem anymore...never going back. Never, ever!
I was asked, with 1 day notice, to cover a few night shifts on my last week in the office. The simple answer, NO, no exclamation point or anything, just NO. I had just come back from a month-long field assignment of 13 hour shifts. Everyone survived.
Post by: itchyfeet on February 05, 2020, 08:53:25 AM
Does that mean you might have *two* summers, one in June-July (assuming you're now in Northern Hemisphere) and one in Australia's summer (Dec/Jan)? That sounds like a good plan. :)
We have enjoyed 2 summers for many years as we always fly south for Christmas.... but in all these years we have only had time to spend 1 week in Australia over Christmas. From now on we will spend as long as we want in each hemisphere every year...
Post by: itchyfeet on February 05, 2020, 08:58:02 AM
Yesssssss!!! Not my problem anymore...never going back. Never, ever!
Congrats. How awesome to be free of all that
Post by: JoJo on February 08, 2020, 09:04:44 AM
Post by: Linea_Norway on February 08, 2020, 10:45:51 AM
How was your last day yesterday?
Post by: Lucky13 on February 08, 2020, 06:11:15 PM
Have you told any of your coworkers, how did they react?
Post by: American GenX on February 08, 2020, 07:12:42 PM
I had thought for some time that I would FIRE in 2020, but with the uncertainty of the future of the ACA (ongoing litigation) and elections later this year, I decided to hold off until after the elections and maybe until there's a final ruling on the ACA in regard to the constitutionality of the mandate now that the penalty is zero, and whether the entire ACA must fall as a result.
Post by: itchyfeet on February 08, 2020, 08:45:58 PM
This week I told one of my coworkers (he's my best buddy at work) about my retirement plan, even though I told myself "trust no one!" and don't mention it until the date gets closer. He was talking about maybe changing roles, and I said, "Do you want my job?" without thinking much, and I then I had to explain when I meant. He seemed genuinely happy for me, and now I'm glad I told someone at work, now I will have someone to talk to besides this thread lol. :D
Have you told any of your coworkers, how did they react?
I have not told co-workers, but I want to hire my successor (internal promotion from another country) without letting my management know I when I am leaving. Still trying to work out how to play that.
I won’t tell my colleagues what I plan on doing even when I leave. They won’t relate.
I was out at lunch with friends yesterday discussing our plans to return to Australia and I mentioned I probably wouldn’t be working anymore in the future. The looks I got were disbelief and a seeming inability to comprehend that I wouldn’t want to work and continue to improve my financial position. I felt my friends really did not believe I could even contemplate not working - that I was daydreaming some fairytale fantasy that is not at all real life. It will be interesting to see if they are correct (in so far as FIRE pertains to me personally). I still have some doubts with the way our financials are today, and the amount of restructuring I need to do post-fire to get my ducks in a row. I hope it will all work out. If it doesn’t I’ll just get a job. No biggie.
Post by: MarcherLady on February 09, 2020, 04:07:25 AM
Have you told any of your coworkers, how did they react?
I have told one friend/colleague. She is envious, pleased for me, and trying to talk me out of it. She keeps saying 'if x role was available/if we got a new boss/if you didn't have to do y anymore, would you stay?' I think at the minute nothing positive could happen that would make me stay. Obviously if a major negative thing happened and our £ was no longer going to see us through, then I would stay. I have serious Short Termer Syndrome and everything about work feels like too much effort. It's the time of year we have to write our annual objectives right now, which is always torture, but feels like such a big waste of time at the moment!
Post by: itchyfeet on February 09, 2020, 07:39:13 AM
If your boss wants to reward you they won’t care what the objectives were, and vice versa.
That said, I found it mildly amusing when my boss was listing objectives for me for the year and I was thinking, I’ll never see any reward from achieving any of those joyless objectives so don’t be expecting much effort from me towards their acheivement.
Post by: Linea_Norway on February 09, 2020, 11:30:08 PM
I was still given an objective for my remaining time, which I just managed to fulfill. Although it didn't give me any additional bonus. The company didn't have the option of giving bonuses.
Post by: rab-bit on February 10, 2020, 05:21:55 AM
Post by: Linea_Norway on February 10, 2020, 11:41:22 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
01/??/20 Now-non
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) Given notice
03/07/20 Fresh Bread Swami
03/13/20 CrazyIT Given notice
03/13/20 ysette9 (@38)
03/??/20 Maenad Given notice
03/20/20 Mmm_donuts
03/??/20 FInding_peace (@38)
03/??/20 or 04/??/20 Padonak
03/??/20 or later 20 Beeboy (@46)
03/31/20 texxan1
03/31/20 wildatheart (@53)
04/02/20 CptCool
04/09/20 rab-bit's wife Given notice
04/14/20 MarcherLady
04/??/20 DreamFIRE
04/??/20 Exit2019
04/??/20 Pennycounter
04/24/20 aspiringnomad (@37) Given notice
04/??/20 or later 20 robtown
04/??/20 - 07/??/20 JoJo
05/01/20 Fresh Bread's husband
05/01/20 Much fishing to do
05/15/20 SailingOnASmallSailboat's DH (@50/51)
05/15/20 BeanCounter
05/15/20 Lucky13 (@44)
05/22/20 Body Surfer Given notice
05/31/20 Dee18
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/05/20 thelyon19
06/05/20 (or April) rab-bit (@59)
06/16/20 Kteach
06/??/20 Farmgirl (@61)
06/??/20 ixtap (date uncertain)
07/01/20 FireLane (@38)
07/01/20 Unique User (@50)
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20. bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/01/20 HappyCheerE (@55)
08/??/20 or 2021 Bateaux
09/??/20 Dan23
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/30/20 Itchyfeet
11/??/20 Alternatepriorities
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 Sand101
12/??/20 TheFIExplorer
??/??/20 EscapeVelocity2020
??/??/20 apurplelife
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
12/??/20 desk_jockey
??/??/20? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Steevven1 (@29): parttime from 01/2020.
Post by: Bateaux on February 10, 2020, 01:14:20 PM
Post by: JumboShrimp on February 10, 2020, 06:52:44 PM
Quote
@JumboShrimp
How was your last day yesterday?
I actually liked my job and co-workers, so it was harder to walk away from than I expected. Not to mention the pay and cushy health insurance. Cost of COBRA sure was an eye opener. Leaving on a good note though, my manager was sorry to lose me and said I would be welcome back. Always good to have options!
Leaving shortly for Spain and Portugal, be there until April. I knew I had to have something big planned to help push me through the transition so I made sure to buy nonrefundable lodging and flights. Seems to have done the trick. I definitely was feeling some anxiety and it would have been really easy to push it out another 6 months (and then another 6 months ad infinitum).
Even if it is for the best FIRE is a huge life transition, so giving myself plenty of time to adjust.
Post by: Body Surfer on February 10, 2020, 08:03:05 PM
Post by: ysette9 on February 10, 2020, 08:44:31 PM
Post by: MoneyTree on February 11, 2020, 08:51:22 AM
This is a soft milestone and not the final target number, since 1) I’m aiming for a smaller SWR, and 2) we still don’t know if we will have more kids or not.
so I still have some stashing to do.
Still working for now, but its feels great knowing that if I walked away right now, we’d be 100% covered!
Post by: Body Surfer on February 11, 2020, 08:59:39 AM
Perhaps some of you feel the way I do. It is best if do not lol.
Post by: Linea_Norway on February 11, 2020, 09:23:54 AM
I am shocked at how badly I am struggling to finish out. As I drive to work I see folks running or biking and it is like a punch in the gut. I want freedom so badly...I want to be able to exercise on my schedule not on work's schedule. If I see someone my age or older out running or biking I am assuming they are retired and I get so envious lol of their freedom. This is crazy. I've never felt like this. Well, as people tell me I'll be retired soon enough. Not soon enough for me unfortunately (I have a contract I am honoring- done in late May).
Perhaps some of you feel the way I do. It is best if do not lol.
I am now one of these people who is outside exercising between the normal pensioners. It feels great being able to go outside every time the weather is inviting to it. I see people look at me curiously, as I am not a regular pensioner, but I could also be a night shift person or something.
Good that you haven notice.
Post by: CrazyIT on February 11, 2020, 10:09:08 AM
I am shocked at how badly I am struggling to finish out. As I drive to work I see folks running or biking and it is like a punch in the gut. I want freedom so badly...I want to be able to exercise on my schedule not on work's schedule. If I see someone my age or older out running or biking I am assuming they are retired and I get so envious lol of their freedom. This is crazy. I've never felt like this. Well, as people tell me I'll be retired soon enough. Not soon enough for me unfortunately (I have a contract I am honoring- done in late May).
Perhaps some of you feel the way I do. It is best if do not lol.
I can relate for sure. T -30 for me! 4 more Mondays
Post by: Lucky13 on February 11, 2020, 08:55:51 PM
I am shocked at how badly I am struggling to finish out. As I drive to work I see folks running or biking and it is like a punch in the gut. I want freedom so badly...I want to be able to exercise on my schedule not on work's schedule. If I see someone my age or older out running or biking I am assuming they are retired and I get so envious lol of their freedom. This is crazy. I've never felt like this. Well, as people tell me I'll be retired soon enough. Not soon enough for me unfortunately (I have a contract I am honoring- done in late May).For me it's Monday mornings that are the worst now. I really don't want to go to work (but once I'm there isn't not too bad). I'm going to start a countdown of how many Mondays I have left. :P
Perhaps some of you feel the way I do. It is best if do not lol.
Post by: steevven1 on February 11, 2020, 09:38:40 PM
Post by: JoJo on February 11, 2020, 11:17:46 PM
Post by: Linea_Norway on February 12, 2020, 12:56:03 AM
Wife moved to part-time work (a few freelance gigs at about 2-5 hours per week each) about a year ago at age 29; I've stepped down to part time on January 1 (also age 29 now)...We're in a position where we could probably barebones FIRE if we had to, but enjoying the challenge and flexibility of working part-time from home, so we're gonna stick with it a while. I guess we'd consider ourselves to be a part of the 2020 cohort, if you'll have us :-)
What a luxury to be barebones FI at able to only work PT at age 29.
Post by: ysette9 on February 12, 2020, 09:19:23 AM
No kidding. Makes me feel like an old woman here at 38.Wife moved to part-time work (a few freelance gigs at about 2-5 hours per week each) about a year ago at age 29; I've stepped down to part time on January 1 (also age 29 now)...We're in a position where we could probably barebones FIRE if we had to, but enjoying the challenge and flexibility of working part-time from home, so we're gonna stick with it a while. I guess we'd consider ourselves to be a part of the 2020 cohort, if you'll have us :-)
What a luxury to be barebones FI at able to only work PT at age 29.
Post by: Maenad on February 12, 2020, 10:12:51 AM
I am shocked at how badly I am struggling to finish out.
DH and I are right there with you! I'm pushing myself really hard to focus on performing well because I don't want to go out with a bad reputation, but it's extremely difficult to even care that much. I'm finishing up what I can get done before I leave and not starting anything new.
I've decided today that I'm likely to give notice in my annual review next week. There was some major project work that was supposed to be done in March that I was planning on sticking around for, but there's been no movement on it and I think it's going to be delayed until April. I'll keep you all posted, I'm tentatively changing to mid-March for my last day, somewhere between the 13th and 20th.
I'm so ready to be done.
Post by: Alternatepriorities on February 12, 2020, 11:35:07 AM
I don't know how it's going to work yet this year. Being self employed I figured it would wind down slowly. Ideally I'd like to finish all of the work one particular client has and then just not look for the next client, but they told me earlier this week that they have "all of the work" and would like me to work more hours not less... I really like the client so we'll see how it plays out. Retired in 2020 has a nice ring to it.
Post by: itchyfeet on February 14, 2020, 12:16:24 PM
The talk where I go “ We are close enough, let’s pull the pin”.
Unfortunately DW disagreed, citing the many one-off expenses we have this year, and wanting to stick it out till November or December. Sigh 😔 . We will always have one-off expenses. We need to just accept that and accept we have enough.
I am chomping at the bit!
Work is standing in the way of our next adventure (no idea what that is though).
That said, an extra 5-10% pure buffer in the stash might be useful.... maybe 🤷♂️
Post by: RWTL on February 14, 2020, 05:38:36 PM
DW and I had “the talk” this morning.
The talk where I go “ We are close enough, let’s pull the pin”.
Unfortunately DW disagreed, citing the many one-off expenses we have this year, and wanting to stick it out till November or December. Sigh 😔 . We will always have one-off expenses. We need to just accept that and accept we have enough.
I am chomping at the bit!
Work is standing in the way of our next adventure (no idea what that is though).
That said, an extra 5-10% pure buffer in the stash might be useful.... maybe 🤷♂️
Sounds like you have Itchy Feet :)
Post by: itchyfeet on February 14, 2020, 11:09:15 PM
Post by: Linea_Norway on February 15, 2020, 06:52:08 AM
DW and I had “the talk” this morning.
The talk where I go “ We are close enough, let’s pull the pin”.
Unfortunately DW disagreed, citing the many one-off expenses we have this year, and wanting to stick it out till November or December. Sigh 😔 . We will always have one-off expenses. We need to just accept that and accept we have enough.
I am chomping at the bit!
Work is standing in the way of our next adventure (no idea what that is though).
That said, an extra 5-10% pure buffer in the stash might be useful.... maybe 🤷♂️
Any chance that you (both) could go parttime for the rest of the year? That would give you more time for weekend adventures at least.
Post by: itchyfeet on February 15, 2020, 10:33:02 AM
Post by: exit2019 on February 17, 2020, 05:16:16 PM
Post by: Fresh Bread on February 17, 2020, 06:20:10 PM
Our fat FI date is delayed til Mar 7 when the tenants will be moved in. However, I updated all of our numbers yesterday and due to growth plus a top up from an inheritance we are more than covering our essentials with passive income. The rental will just be for the luxuries, of which we enjoy many.
My husband will retire on May 1 (for the second time actually) and I will become a SWAMI on Mar 7. I am so excited, I have so many plans.
Post by: ysette9 on February 17, 2020, 09:24:42 PM
Post by: 2sk22 on February 18, 2020, 06:57:37 AM
Lucky Friday the 13th is my planned last day at work. My husband keeps asking now when it is, now long until I announce to my manager. I’ve decided to do it in a little over a week, during a one-on-one meeting, rather than waiting for Friday. So it will be more like a 2.5-week notice. I’m eager to have the truth out so I can stop pretending to care. So close!
Good luck! When I quit megacorp last year, for various reasons, it simply had to be done in a hurry so I was forced to make my resignation in public in a group meeting rather than a one-on-one. Was awkward for a bit after that :-)
Post by: MarcherLady on February 20, 2020, 12:48:25 AM
I’m eager to have the truth out so I can stop pretending to care.
Oh god yes, so much this! The last possible announcement date for a severance package is the 1st week of March, the UK budget is 11th, resignation date is 13th. If the long-threatened changes to workplace pension commencement ages is introduced in the budget it could blow my numbers up, so I have to wait.
Post by: Mmm_Donuts on February 20, 2020, 04:16:57 AM
Another problem I'm wondering if people can relate to - whenever I have a good day at work, I think, oh it's not so bad, I can stay and build more financial cushion! But then a bad day comes and I just want to leave ASAP. So it's a bit of a roller coaster. The key for me I think is that I have a list of things I want to do when I leave. And when I give notice, it will be on those terms, otherwise they will try to talk me out of quitting. If I make it more about me and the things I need more time for outside of work, then that gives them less opportunity to try to fix the work-related issues. Plus it means leaving on a more positive note.
That said - I'm really nervous and excited. Even though I waver I'm 99% sure this is the right choice.
Post by: CrazyIT on February 20, 2020, 07:44:50 AM
Lucky Friday the 13th is my planned last day at work. My husband keeps asking now when it is, now long until I announce to my manager. I’ve decided to do it in a little over a week, during a one-on-one meeting, rather than waiting for Friday. So it will be more like a 2.5-week notice. I’m eager to have the truth out so I can stop pretending to care. So close!
My last day too! I'm trying not to think of it as "Friday the 13th". That's probably how my company feels though. I gave almost a 3 month notice. I would not recommend that and would not do that again (but never plan to retire again either). Only nice thing is I work with many people out of state and have had my chances to say goodbye to most of them.
16 more working days 3 more Monday meetings....
Post by: Much Fishing to Do on February 20, 2020, 08:07:39 AM
Another problem I'm wondering if people can relate to - whenever I have a good day at work, I think, oh it's not so bad, I can stay and build more financial cushion! But then a bad day comes and I just want to leave ASAP. So it's a bit of a roller coaster. The key for me I think is that I have a list of things I want to do when I leave. And when I give notice, it will be on those terms, otherwise they will try to talk me out of quitting.
That said - I'm really nervous and excited. Even though I waver I'm 99% sure this is the right choice.
Totally understood here. Though frankly me coming close to quitting has led to changes over time that has made the work MUCH better. The last few weeks have been extremely slow (i get paid hourly and work from home, so this just means little work and lots of freedom, and the hourly rate is great), and I would prefer to continue like that over quitting entirely for various reasons even though I'm now at 103% my number. But I know eventually the sh*t will hit the fan again and will be swamped, and I'm so much less patient with the crap now. But it has all let me realize how much the FI means even before the RE.
Post by: ysette9 on February 20, 2020, 10:57:54 AM
I can also really relate to this feeling. But I think things are pretty good now due to a combo of 1) work being slow due to project timelines and corona virus and 2) me really not trying hard due to senioritis.Another problem I'm wondering if people can relate to - whenever I have a good day at work, I think, oh it's not so bad, I can stay and build more financial cushion! But then a bad day comes and I just want to leave ASAP. So it's a bit of a roller coaster. The key for me I think is that I have a list of things I want to do when I leave. And when I give notice, it will be on those terms, otherwise they will try to talk me out of quitting.
That said - I'm really nervous and excited. Even though I waver I'm 99% sure this is the right choice.
Totally understood here. Though frankly me coming close to quitting has led to changes over time that has made the work MUCH better. The last few weeks have been extremely slow (i get paid hourly and work from home, so this just means little work and lots of freedom, and the hourly rate is great), and I would prefer to continue like that over quitting entirely for various reasons even though I'm now at 103% my number. But I know eventually the sh*t will hit the fan again and will be swamped, and I'm so much less patient with the crap now. But it has all let me realize how much the FI means even before the RE.
I have to keep reminding myself that the normal pace of this job is evening calls with Asia all the time and I definitely don’t want anything to do with that.
Post by: grobinski on February 20, 2020, 09:46:22 PM
Another problem I'm wondering if people can relate to - whenever I have a good day at work, I think, oh it's not so bad, I can stay and build more financial cushion! But then a bad day comes and I just want to leave ASAP. So it's a bit of a roller coaster. The key for me I think is that I have a list of things I want to do when I leave. And when I give notice, it will be on those terms, otherwise they will try to talk me out of quitting. If I make it more about me and the things I need more time for outside of work, then that gives them less opportunity to try to fix the work-related issues. Plus it means leaving on a more positive note.
That said - I'm really nervous and excited. Even though I waver I'm 99% sure this is the right choice.
@Mmm_Donuts
Yes I can totally relate and your plan sounds mutually healthy and beneficial. I quit on Feb 3 after giving notice 7 months in advance so had a ton of time to prep for my own extraction and replacement. Over the last month, I felt time was sand slipping through my fingers and was really glad I had given myself and co-workers so much time. I also had the roller coaster of good/bad days and questioning the wisdom of dropping out. Ultimately that long time for reflection did give me a greater appreciation of "the end", allowed me to finish up some long term projects and a transition plan, and helped me to cement some post-work relationships.
I am about 99% sure it was the right choice and life is grand!
Post by: Mmm_Donuts on February 21, 2020, 05:28:25 AM
Post by: Maenad on February 21, 2020, 08:27:48 AM
Last day is March 13th.
Post by: CrazyIT on February 21, 2020, 10:27:42 AM
I just gave notice, my manager is happy for me but is also sad at losing me, which is just about the best response to get. I'm on the verge of hyperventilating, since this has just become REAL. I'm going to head home at lunch time to freak out a bit and cry in private. It's definitely the right time, but I've been planning this for my entire career (20+ years), and it's HUGE and REAL and HAPPENING NOW.
Last day is March 13th.
Congrats!!!!!!
Post by: ysette9 on February 21, 2020, 11:36:19 AM
I’m curious how you framed it. Did you just say you are retiring?
I break the news to my manager on Tuesday and I still have no idea what I will say.
Post by: Maenad on February 21, 2020, 02:32:12 PM
Both my manager and director were very supportive, which is wonderful and says a lot about their character. Sounds like my director is thinking about retiring at 50, so he was jealous in the most friendly way. I feel very lucky, and I know that if we hit a big recession later this year and I need a contract spot to tide us over until the market recovers, I can contact them - the bridge isn't burned. Gods I feel lucky.
Post by: aspiringnomad on February 21, 2020, 03:20:33 PM
I framed it as, "I'm retiring, and I'd like my last day to be March 13. I know I'm surprisingly young, but this has been a long-time goal for me that I've achieved. I have a lot of mixed emotions, since I really love working with you all [which is true!], but it's time to live out the dream I've had for ## years."
Both my manager and director were very supportive, which is wonderful and says a lot about their character. Sounds like my director is thinking about retiring at 50, so he was jealous in the most friendly way. I feel very lucky, and I know that if we hit a big recession later this year and I need a contract spot to tide us over until the market recovers, I can contact them - the bridge isn't burned. Gods I feel lucky.
I framed it as taking some time off and also as something we've been working towards for a long time. So far (fingers crossed!) there are no burned bridges. As word spread, and especially after it was officially announced via email blast, I've had people constantly in my office to talk about our travel plans. Many have said they're jealous in a friendly way and not entirely surprised since my wife is from another country, we both travel a lot, and we don't have kids. If we were at least in our mid-40s and were certain we weren't returning to the workforce at some point I might have felt more comfortable framing it as retirement, but that's probably a silly thing to worry about on my part anyway.
FWIW, I had a pit in my stomach just before I gave notice, and it felt great to get it out there. Now I'm battling the senioritis and if I'm honest am mentally already in Portugal.
Post by: Linea_Norway on February 22, 2020, 04:19:01 AM
I framed it as, "I'm retiring, and I'd like my last day to be March 13. I know I'm surprisingly young, but this has been a long-time goal for me that I've achieved. I have a lot of mixed emotions, since I really love working with you all [which is true!], but it's time to live out the dream I've had for ## years."
Both my manager and director were very supportive, which is wonderful and says a lot about their character. Sounds like my director is thinking about retiring at 50, so he was jealous in the most friendly way. I feel very lucky, and I know that if we hit a big recession later this year and I need a contract spot to tide us over until the market recovers, I can contact them - the bridge isn't burned. Gods I feel lucky.
I framed it as taking some time off and also as something we've been working towards for a long time. So far (fingers crossed!) there are no burned bridges. As word spread, and especially after it was officially announced via email blast, I've had people constantly in my office to talk about our travel plans. Many have said they're jealous in a friendly way and not entirely surprised since my wife is from another country, we both travel a lot, and we don't have kids. If we were at least in our mid-40s and were certain we weren't returning to the workforce at some point I might have felt more comfortable framing it as retirement, but that's probably a silly thing to worry about on my part anyway.
FWIW, I had a pit in my stomach just before I gave notice, and it felt great to get it out there. Now I'm battling the senioritis and if I'm honest am mentally already in Portugal.
I also said I was taking a year off. My manager thought it was a very good idea for me personally and she admired my dare to do something unconventional. Of course for the company it was not benefitial, but she thought it was good that I prioritized my own health.
Post by: ysette9 on February 22, 2020, 12:33:29 PM
Post by: Lucky13 on February 24, 2020, 05:44:17 PM
Love what @Maenad said about about "time to live out the dream I've had for ## years" because it destroys the notion that FIRE practitioners are rage quitting, "haven't found a job they love" or something silly like that.
Post by: IslandFiGirl on February 24, 2020, 07:32:10 PM
Post by: ysette9 on February 24, 2020, 08:48:33 PM
Post by: IslandFiGirl on February 24, 2020, 08:51:18 PM
Why can’t you be lazy?
I just don't feel good about it. I'm wanting to lose weight and taking naps and not accomplishing anything just makes me feel bad. I'm going to help a friend paint her house tomorrow, so I'm hoping some hard work gets me back in the groove. It's weird going from 90 miles a minute to a dead stop.
Post by: Linea_Norway on February 25, 2020, 03:01:06 AM
Why can’t you be lazy?
I just don't feel good about it. I'm wanting to lose weight and taking naps and not accomplishing anything just makes me feel bad. I'm going to help a friend paint her house tomorrow, so I'm hoping some hard work gets me back in the groove. It's weird going from 90 miles a minute to a dead stop.
Going to the gym every day is not lazy. You are allowed to relax after a good workout. Why don't you start reading books after your workout? Maybe that will make you feel better. Helping a friend also sounds like a good idea.
My FIRE days so far have existed of being at our cabin and skiing almost every day, reading a lot of books, cooking new dishes and now preparing our home for a new attempt to sell it. And I have been to a course and an event for two weekends.
Even when I just spend the day at home because the weather is too bad to go out, I don't feel lazy. I think I deserve taking time off. I have worked hard for more than 20 years and never even had a long sickleave or parential leave. I am just tired and need to recover.
Post by: ysette9 on February 25, 2020, 12:03:09 PM
Post by: Alternatepriorities on February 25, 2020, 12:38:45 PM
In general DW and I are in a better position to take a little extra risk on sequence of returns since we both have readily employable skills that won't be obsolete in 5 years. That was part of my logic in FIRE this year, but if the drop continues to the point if would trigger returning to work if I were already FIREd i might choose boring well paying work for a bit longer... Don't write me off yet though, November is still a ways off...
Post by: Lucky13 on February 25, 2020, 01:20:01 PM
Even when I just spend the day at home because the weather is too bad to go out, I don't feel lazy. I think I deserve taking time off. I have worked hard for more than 20 years and never even had a long sickleave or parential leave. I am just tired and need to recover.
Hey it's great to read the different perspectives of the early graduating members of our class. :) really make me think. I'm also around 20 years full-time working, never had a long leave, but was unemployed for a few months here and there due to layoffs etc. which definitely wasn't a vacation or relaxing. I will never recover, in the sense that being in the corporate world this long has changed me and made me a different person. I expect my first few months, maybe years, after retiring will not only be recovering from the physical and psychologic stress but also discovering how goals & priorities change. I've spent my entire adult life working 40+ hours a week in various offices with small groups of people who have an outsized affect on how I see myself and the world. For example the indoctrination (brainwashing?) that if you're not working 8+ hours a day you're "lazy" which isn't some law of the universe it's just something we decided. I understand the feeling of wanting to stay "busy" after retiring. I feel that too, although I don't know how much of that is just a left over habit, and not how I really want to live, once I have the choice.
Post by: CrazyIT on February 25, 2020, 01:43:41 PM
Last night I was called in for an urgent issue I needed to fix (wasn't too happy but it's my job) . With my last day just over 2 weeks I have been trying to avoid working more than i need to just get by. When I woke this morning I turned my alarm off and layed in bed an extra hour. When I left home already an hour and a half later than usual I stopped and filled with gas. At the gas station I was very relaxed and just observed all the people coming and going. Everyone seemed to be in super speed almost in panic mode like they were all already late for work. I thought to myself that's probably how I have been for the last 25 years too. Strolled into work just before 10! Of course I need to have a long lunch and plan to leave early too. Guess the moment is lasting all day.
Hope every day feels like this one moving forward.
13 more working days!
Post by: markbike528CBX on February 25, 2020, 04:33:53 PM
A colleague used to say: “if you come in late you have to leave early to make up for it!
Post by: ysette9 on February 25, 2020, 06:14:51 PM
Post by: FireLane on February 25, 2020, 09:07:30 PM
I’m doing a lot of coming in late and going home early these days. I highly recommend.
Same here. And don't forget the long lunches!
Post by: ysette9 on February 25, 2020, 09:35:06 PM
Post by: Linea_Norway on February 25, 2020, 09:44:43 PM
Even when I just spend the day at home because the weather is too bad to go out, I don't feel lazy. I think I deserve taking time off. I have worked hard for more than 20 years and never even had a long sickleave or parential leave. I am just tired and need to recover.
Hey it's great to read the different perspectives of the early graduating members of our class. :) really make me think. I'm also around 20 years full-time working, never had a long leave, but was unemployed for a few months here and there due to layoffs etc. which definitely wasn't a vacation or relaxing. I will never recover, in the sense that being in the corporate world this long has changed me and made me a different person. I expect my first few months, maybe years, after retiring will not only be recovering from the physical and psychologic stress but also discovering how goals & priorities change. I've spent my entire adult life working 40+ hours a week in various offices with small groups of people who have an outsized affect on how I see myself and the world. For example the indoctrination (brainwashing?) that if you're not working 8+ hours a day you're "lazy" which isn't some law of the universe it's just something we decided. I understand the feeling of wanting to stay "busy" after retiring. I feel that too, although I don't know how much of that is just a left over habit, and not how I really want to live, once I have the choice.
In addition to recovering from years of being stressed out like most commuters, I also just like to have time to do my own thing. My time has always been prioritized around my job, planning vacations and weekends so that I had to be back on Monday. I have never felt like I do now, that I can follow my own schedule. So far, I am enjoying immensely that I can shop at times when other people are at work. We can go to our cabin all the time when ski conditions are better there than at home.
And at the moments I don't have a plan, I just think of something to do. So far, I can always think of something.
Post by: tawyer on February 25, 2020, 10:19:39 PM
Oh heavens, yes! And since I get free food at work, I also eat second breakfast there after biking in.Was lamenting today about how expensive working from home is... I have to supply my *own* food and my *own* coffee... I concede I may decaffeinate myself when I retire and less cycle commuting will lower my caloric needs. Still.
Post by: ysette9 on February 25, 2020, 10:22:06 PM
Post by: BeanCounter on February 26, 2020, 04:12:34 AM
Anyway, all the sudden I’m having all this anxiety. Bad dreams. Waking up at crazy hours. Upset stomach. I don’t know why. I know I’ve been planning this for a long time. I know I want to be home with the kids for awhile. I know we are FI (although the last few days have been rough). But walking away from $150k job seems crazy.
I can’t back out though. I have no summer childcare lined up now. I found our nanny a new job and I’m not going to hire another one.
Post by: Trifle on February 26, 2020, 04:45:47 AM
Deep breath. It'll be ok. It'll be better than ok -- it'll be f*ing fantastic! You've been planning this and working toward it. If your plan is solid, it's solid and you can trust it. FIRE is awesome. Come join us!
Post by: Maenad on February 26, 2020, 05:05:29 AM
@BeanCounter -- just stopping by from the class of 2019 to say that the way you are feeling is totally normal. I think many of us felt that way when we gave our notice. It's like the moment in skydiving when you step up to the open door of the plane and jump out -- a mixture of exhilaration and pure terror. The good news is that after you give your notice that spiky awful panic goes away. There are still some weird things during the notice period (like answering coworker questions about what you're doing) -- but it's easier.
Deep breath. It'll be ok. It'll be better than ok -- it'll be f*ing fantastic! You've been planning this and working toward it. If your plan is solid, it's solid and you can trust it. FIRE is awesome. Come join us!
Thank you for this! Like BeanCounter, my stress level has gone up and I'm having trouble sleeping. My manager asked me if I'd be willing to stay on for the month or two it will take to backfill me, and I had to say no - my mental health really requires me to stop now. My societal brainwashing was telling me to do it, but I knew that if I did, my depression would start telling me that I don't deserve my dreams, and every day I would dread waking up.
Post by: Trifle on February 26, 2020, 05:33:52 AM
@BeanCounter -- just stopping by from the class of 2019 to say that the way you are feeling is totally normal. I think many of us felt that way when we gave our notice. It's like the moment in skydiving when you step up to the open door of the plane and jump out -- a mixture of exhilaration and pure terror. The good news is that after you give your notice that spiky awful panic goes away. There are still some weird things during the notice period (like answering coworker questions about what you're doing) -- but it's easier.
Deep breath. It'll be ok. It'll be better than ok -- it'll be f*ing fantastic! You've been planning this and working toward it. If your plan is solid, it's solid and you can trust it. FIRE is awesome. Come join us!
Thank you for this! Like BeanCounter, my stress level has gone up and I'm having trouble sleeping. My manager asked me if I'd be willing to stay on for the month or two it will take to backfill me, and I had to say no - my mental health really requires me to stop now. My societal brainwashing was telling me to do it, but I knew that if I did, my depression would start telling me that I don't deserve my dreams, and every day I would dread waking up.
I went through that exact same thing last year @Maenad! After I gave notice my boss asked me to stay a while longer, and part of me wanted to do it but the bigger/deeper part of me knew it would be a mistake. It was very stressful, feeling pulled in two directions like that. I am SO glad I just stuck to the plan, said no, and got out quicker. Sounds like you made the right call for yourself as well!
Post by: BFGirl on February 26, 2020, 06:09:34 AM
Watching a years spending disappear in two days might give me a bad case of OMY...
In general DW and I are in a better position to take a little extra risk on sequence of returns since we both have readily employable skills that won't be obsolete in 5 years. That was part of my logic in FIRE this year, but if the drop continues to the point if would trigger returning to work if I were already FIREd i might choose boring well paying work for a bit longer... Don't write me off yet though, November is still a ways off...
It is a bit disconcerting to have this happen the year you plan to retire. Hopefully it just prepares us so we won't panic when it happens in retirement. I'm already on the fence for this year due to wedding expenses and a concern about maintaining health insurance for my son who is still in college. But my earliest date isn't until the end of the year, so I'm keeping my options open.
Post by: Linea_Norway on February 26, 2020, 08:29:28 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) CONFIRMED
03/06/20 damyst CONFIRMED
03/07/20 Fresh Bread Swami
03/13/20 CrazyIT Given notice
03/13/20 ysette9 (@38) Given notice
03/??/20 Maenad Given notice
03/20/20 Mmm_donuts
03/??/20 FInding_peace (@38)
03/??/20 or 04/??/20 Padonak
03/??/20 or later 20 Beeboy (@46)
03/31/20 texxan1
03/31/20 wildatheart (@53)
04/02/20 CptCool
04/09/20 rab-bit's wife Given notice
04/14/20 MarcherLady
04/17/20 Ottawa
04/??/20 DreamFIRE
04/??/20 Exit2019
04/??/20 Pennycounter
04/24/20 aspiringnomad (@37) Given notice
04/??/20 or later 20 robtown
04/??/20 - 07/??/20 JoJo
05/01/20 Fresh Bread's husband
05/01/20 Much fishing to do
05/15/20 SailingOnASmallSailboat's DH (@50/51)
05/15/20 BeanCounter
05/15/20 Lucky13 (@44)
05/22/20 Body Surfer Given notice
05/31/20 Dee18
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/05/20 thelyon19
06/05/20 (or April) rab-bit (@59)
06/16/20 Kteach
06/??/20 Farmgirl (@61)
06/??/20 ixtap (date uncertain)
07/01/20 FireLane (@38)
07/01/20 Unique User (@50)
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20. bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/01/20 HappyCheerE (@55)
08/??/20 or 2021 Bateaux
09/??/20 Dan23
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/30/20 Itchyfeet
11/??/20 Alternatepriorities
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 Sand101
12/??/20 TheFIExplorer
??/??/20 EscapeVelocity2020
??/??/20 apurplelife
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
12/??/20 desk_jockey
??/??/20? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Steevven1 (@29): parttime from 01/2020.
Post by: Ottawa on February 26, 2020, 08:32:35 AM
I’m doing a lot of coming in late and going home early these days. I highly recommend.
Yes, me too! In fact, lots of not coming in at all.
---
I think I need to be added to the 2020 cohort...if you don't mind? :-)
17 April - commence year leave without pay - never to return!
Post by: Linea_Norway on February 26, 2020, 08:48:27 AM
I’m doing a lot of coming in late and going home early these days. I highly recommend.
Yes, me too! In fact, lots of not coming in at all.
---
I think I need to be added to the 2020 cohort...if you don't mind? :-)
17 April - commence year leave without pay - never to return!
Welcome!
Post by: Alternatepriorities on February 26, 2020, 11:06:28 AM
It's really impressive to see so many people on it and helpful knowing that I'm not the only one thinking about life and money this way. That's probably the greatest gifts the blog and this forum as given me.
Post by: ysette9 on February 26, 2020, 09:33:17 PM
That said, he was very gracious, congratulated me, and most importantly agree to let me be on vacation after my last day to burn it all off instead of getting a payout. The reason this is important is because it would allow me one more stock vest event before officially leaving. He didn’t have to agree to that, so that is considerate.
I had to go to the ladies’ room after our meeting to take a moment to wipe to goofy smile off my face before returning to my desk.
Post by: 2sk22 on February 27, 2020, 02:10:12 AM
I caught my boss completely unawares today when I gave him my 2-week notice. I’ll be leaving one week after another lady, and our group is only 5 people strong, so it was a big hit for him.
Congrats! What a great sense of relief you must be feeling!
Post by: Linea_Norway on February 27, 2020, 03:37:43 AM
I caught my boss completely unawares today when I gave him my 2-week notice. I’ll be leaving one week after another lady, and our group is only 5 people strong, so it was a big hit for him.
That said, he was very gracious, congratulated me, and most importantly agree to let me be on vacation after my last day to burn it all off instead of getting a payout. The reason this is important is because it would allow me one more stock vest event before officially leaving. He didn’t have to agree to that, so that is considerate.
I had to go to the ladies’ room after our meeting to take a moment to wipe to goofy smile off my face before returning to my desk.
I really don't understand how employers can manage with a two weeks notice. Here it is three months and they still despair when someone quits. But the notice period counts both ways. They can also fire someone with two weeks notice.
I had to smile after reading your last sentence.
Post by: Lucky13 on February 27, 2020, 09:34:25 AM
I really don't understand how employers can manage with a two weeks notice. Here it is three months and they still despair when someone quits. But the notice period counts both ways. They can also fire someone with two weeks notice.
I had to smile after reading your last sentence.
In the U.S. most salaried employees, outside of the government sector, are "at will" meaning we can be fired at any time, for any reason, without notice. (This has happened to me) So the "2 weeks notice" is more of a professional courtesy and not required on either side. I will be so happy to no longer be vulnerable to this anymore!
Anyway, all the sudden I’m having all this anxiety. Bad dreams. Waking up at crazy hours. Upset stomach. I don’t know why. I know I’ve been planning this for a long time. I know I want to be home with the kids for awhile. I know we are FI (although the last few days have been rough). But walking away from $150k job seems crazy.
Yes it is crazy to walk away from that salary! But I like the idea of doing something a little crazy... the analogy of skydiving is great, I am ready to jump! it's going to be fun. Been on this plane too long. Looking above there are 3 of us targeting May 15th we will be jump buddies! actually everyone on the list is a jump buddy, we are all doing this crazy thing. (although I haven't given my notice yet so I guess I still could chicken out but I don't think so, now I won't forgive myself if I let 2020 slip away this is the year for a big change)
Post by: mm1970 on February 27, 2020, 11:13:51 AM
my heart bleeds for you.Oh heavens, yes! And since I get free food at work, I also eat second breakfast there after biking in.Was lamenting today about how expensive working from home is... I have to supply my *own* food and my *own* coffee... I concede I may decaffeinate myself when I retire and less cycle commuting will lower my caloric needs. Still.
I get free coffee, tea, and cocoa. That's it.
Husband's company expands their freebies to sparkling water and soda.
But free food? Pshaw, not here.
Post by: Maenad on February 27, 2020, 02:44:44 PM
Lucky Friday the 13th is official for me - two weeks from tomorrow!
I did agree to come back to do a thorough data dump with my replacement once they're hired, for the low low price of a free group lunch. It's not going to be a hardship for me, and the goodwill will be worth it if I need a contract next year. :-D.
Post by: ysette9 on February 27, 2020, 02:49:38 PM
I told the rest of my peers today in my boss's staff meeting. They were shocked at first, then very congratulatory for me and admittedly sad for themselves. It is so amazing to have coworkers be happy for me for this, given what we often hear from others. So tons of mixed feelings on my part, but I'm still glad to be moving on to the next phase of life!FIRE date buddies!
Lucky Friday the 13th is official for me - two weeks from tomorrow!
I did agree to come back to do a thorough data dump with my replacement once they're hired, for the low low price of a free group lunch. It's not going to be a hardship for me, and the goodwill will be worth it if I need a contract next year. :-D.
Are you using the word “retire”? If so, does it feel weird?
Post by: Alternatepriorities on February 27, 2020, 03:17:39 PM
FIRE date buddies!
Are you using the word “retire”? If so, does it feel weird?
I did when I left my first career job in 2012, but it did feel a little weird. I suspect that was partly due to know I did not have enough saved to never work again at my desired level of spending... More like 5 years. I was traveling the whole next year so it came up a lot and I stopped using the term. In a years time I only met one couple and one single guy who were traveling for multiple months and had money saved to last beyond the end of the trip.
Post by: ysette9 on February 27, 2020, 05:00:03 PM
Post by: Alternatepriorities on February 27, 2020, 06:10:58 PM
My manager just announced in our weekly staff that I am leaving and he used the word “retiring”. It felt wonderful and totally incongruous, almost absurd at the same time. People were supportive and didn’t express disbelief or anything, which was nice. Maybe I was making this up to be a bigger deal in my own bed than it really is.
I’m glad your coworkers were supportive. It seems like there isn’t really a good word for retired outside of the FIRE community despite MMM’s effort to make “Retired” the word.
Post by: itchyfeet on February 27, 2020, 09:24:56 PM
I need to stop looking every day. 😆
Post by: Linea_Norway on February 28, 2020, 01:23:31 AM
A little over a week ago I had reached 97.4% of my Number...... I haven’t done the numbers but I expect I’m back around 91% now, with the Aussie stock exchange having dropped 10.4%.
I need to stop looking every day. 😆
We are hoping that the market is still low by the time we have sold our home and received the money for it, which is probably a few months later. The coronavirus looks like becoming a big thing, so the world economy might get a more serious knack from it. So far the market has just been anticipating, I think.
You probably know that the market will go up after having gone down. A temporary downfall should perhaps not steer your decision for FIRE.
Post by: itchyfeet on February 28, 2020, 02:37:02 AM
A little over a week ago I had reached 97.4% of my Number...... I haven’t done the numbers but I expect I’m back around 91% now, with the Aussie stock exchange having dropped 10.4%.
I need to stop looking every day. 😆
We are hoping that the market is still low by the time we have sold our home and received the money for it, which is probably a few months later. The coronavirus looks like becoming a big thing, so the world economy might get a more serious knack from it. So far the market has just been anticipating, I think.
You probably know that the market will go up after having gone down. A temporary downfall should perhaps not steer your decision for FIRE.
As I said to DW today, it will be almost 5 years before we need to sell a single share (maybe longer), so the movements in the short term are really not relevant to our plans
Post by: Maenad on February 28, 2020, 05:43:41 AM
My manager just announced in our weekly staff that I am leaving and he used the word “retiring”. It felt wonderful and totally incongruous, almost absurd at the same time. People were supportive and didn’t express disbelief or anything, which was nice. Maybe I was making this up to be a bigger deal in my own bed than it really is.
That's great! My coworkers were more supportive than expected as well. I've heard so many horror stories over the years that I was worried about my own judgement of their character. I should have trusted my gut, but it's OK. I think I am actually on the hook to tell them about FIRE in next week's staff meeting, though, which is hilarious.
And I'm proud to be your FIRE date buddy! :-D
Post by: ysette9 on February 28, 2020, 10:54:28 AM
Does that mean you are going to present on personal finance in staff? That is so cool!My manager just announced in our weekly staff that I am leaving and he used the word “retiring”. It felt wonderful and totally incongruous, almost absurd at the same time. People were supportive and didn’t express disbelief or anything, which was nice. Maybe I was making this up to be a bigger deal in my own bed than it really is.
That's great! My coworkers were more supportive than expected as well. I've heard so many horror stories over the years that I was worried about my own judgement of their character. I should have trusted my gut, but it's OK. I think I am actually on the hook to tell them about FIRE in next week's staff meeting, though, which is hilarious.
And I'm proud to be your FIRE date buddy! :-D
Post by: BeanCounter on February 28, 2020, 11:24:32 AM
DH and I had a long conversation about all the reasons for me to leave my job, the biggest one being the ability to stay home and focus on the kids. As pre-teens seem to want their mom and not a nanny. And then I have been "working from home" the last two days and that helped me refocus and see how I'm making the right choice. So I'm feeling better.
I've decided to wait until after our spring break to give my notice. So I'll come back on 4/20 and give them the news and be out by May 15th. No later than May 29.
Trying to decide what to call it. Retirement does seem weird since I'm only 42. But I've been working since I was 15, full time almost 20 years. I cannot imagine working another 20 years full time. I don't know how normal, non weird people do it!
Eleven more weeks.
Post by: ysette9 on February 28, 2020, 12:24:20 PM
If I can project a bit in my own case, I didn’t want to be another case of “women can’t actually have it all after all” but rather “I have it all, and then some, and in fact I have so much fun planned that I don’t have time for this work thing anymore”.
This is probably just my own baggage speaking, so feel free to ignore if not at all applicable to you.
Post by: BeanCounter on February 28, 2020, 12:44:28 PM
I can only speak for me, but I thought a lot about how to frame why i am leaving. My situation is different because I just came back from maternity leave and also had requested part-time, but was rejected. So for me I really wanted to not send the message that I couldn’t hack this work-and-life thing and was being pushed out, but rather that I was choosing to quit from a position of strength because I have better things to do in life.@ysette9, I can totally understand where you are coming from.
If I can project a bit in my own case, I didn’t want to be another case of “women can’t actually have it all after all” but rather “I have it all, and then some, and in fact I have so much fun planned that I don’t have time for this work thing anymore”.
This is probably just my own baggage speaking, so feel free to ignore if not at all applicable to you.
And since I've been working mom for 12 years I feel like I did it and I'm not being pushed out because I can't hack it. But I'm really f#$King tired. It's a lot. And honestly it's easy when they are babies and toddlers. It's easy to find great care, wonderful people who can love them and engage them while you fill your intellectual cup up at work. But man, as they get older and go to school, I found it became exhausting. The school schedule is wacky. There is at least one random day off a month. And two weeks at Christmas, and a week at spring break. AND 10 f#%King weeks of summer. We have had to find care for ALL of that. or work from home or take PTO or some combination. And really it's worked fine. Maybe even great. But then they hit this weird stage where they are not really old enough to stay home all day by themselves (especially without killing their sibling) but they don't want a nanny, and they've aged out of camps and such. And the nights I get home at 6 or 8pm after a long board meeting, it's hard to engage. And I don't want to be that parent. I don't gain enough from my job to make mailing it in at home ok.
And here I am in my career where the next step is VP or CFO. Work has come to me and we've had that conversation about that next move. And I just can't. I've got no more to give. But yet if I stay at director, I'm board, stagnant. And maybe a little angry when younger guys move past me and get the promotion I should be taking.
So it's time. And when I turn in my notice I will say that "being home is just more compelling than being here right now but lets stay in touch". You never know right? :)
Post by: ysette9 on February 28, 2020, 02:39:18 PM
And yes, I hear you on the ridiculous school schedule with random days off and minimum days and super minimum days (why did I even bother getting her dressed and schlepping her to school if she is only going to be in class for 3.5 hours?) and holiday shutdowns and so forth.
Post by: Body Surfer on February 28, 2020, 05:15:52 PM
Post by: ScreamingHeadGuy on February 28, 2020, 07:05:57 PM
...And the nights I get home at 6 or 8pm after a long board meeting, it's hard to engage. And I don't want to be that parent. I don't gain enough from my job to make mailing it in at home ok....
This spoke to me. I want to retire so I can, among other things, be a better parent. My girl doesn't deserve to have me short-tempered because of some ass-hole client's unreasonable demands.
...and a better husband, too, because my wife shouldn’t have to deal with that, either.
Post by: Linea_Norway on February 28, 2020, 11:27:59 PM
The list contains a Bmjohnsen retiring at 50 years old. The only name appearing in the member popup is Bmjohnsen35. Still the same person?
Post by: 2sk22 on March 01, 2020, 03:50:44 AM
I can only speak for me, but I thought a lot about how to frame why i am leaving. My situation is different because I just came back from maternity leave and also had requested part-time, but was rejected. So for me I really wanted to not send the message that I couldn’t hack this work-and-life thing and was being pushed out, but rather that I was choosing to quit from a position of strength because I have better things to do in life.@ysette9, I can totally understand where you are coming from.
If I can project a bit in my own case, I didn’t want to be another case of “women can’t actually have it all after all” but rather “I have it all, and then some, and in fact I have so much fun planned that I don’t have time for this work thing anymore”.
This is probably just my own baggage speaking, so feel free to ignore if not at all applicable to you.
And since I've been working mom for 12 years I feel like I did it and I'm not being pushed out because I can't hack it. But I'm really f#$King tired. It's a lot. And honestly it's easy when they are babies and toddlers. It's easy to find great care, wonderful people who can love them and engage them while you fill your intellectual cup up at work. But man, as they get older and go to school, I found it became exhausting. The school schedule is wacky. There is at least one random day off a month. And two weeks at Christmas, and a week at spring break. AND 10 f#%King weeks of summer. We have had to find care for ALL of that. or work from home or take PTO or some combination. And really it's worked fine. Maybe even great. But then they hit this weird stage where they are not really old enough to stay home all day by themselves (especially without killing their sibling) but they don't want a nanny, and they've aged out of camps and such. And the nights I get home at 6 or 8pm after a long board meeting, it's hard to engage. And I don't want to be that parent. I don't gain enough from my job to make mailing it in at home ok.
And here I am in my career where the next step is VP or CFO. Work has come to me and we've had that conversation about that next move. And I just can't. I've got no more to give. But yet if I stay at director, I'm board, stagnant. And maybe a little angry when younger guys move past me and get the promotion I should be taking.
So it's time. And when I turn in my notice I will say that "being home is just more compelling than being here right now but lets stay in touch". You never know right? :)
I really feel for you. Working in software, I have always had a lot of work-from-home ability so I was able to use it a lot until my daughters reached high school age. As you say, middle school is especially difficult since kids are usually too old for camp and too young to stay at home. When the girls were younger, I could even take them into my office at a pinch if I had to take a meeting in person.
This did limit my career since I avoided management roles (although I was always very well paid). In the long run, the big payoff is that by taking care of child care in this critical period, I was able to enable my wife to concentrate on her career. She has now reached the executive level in her company - and she enjoys her work (I am very happy for her). Apart from our savings, this has allowed me to retire early.
No easy answers - we threaded the needle and it all somehow worked out.
Post by: BlueMR2 on March 01, 2020, 06:36:20 AM
The coronavirus looks like becoming a big thing, so the world economy might get a more serious knack from it. So far the market has just been anticipating, I think.
A few months ago I was telling my wife that sharp drop early in 2020 would be really nice for us (anticipated a recovery that I might delay my date a little bit for so I could increase the safety stash). Now I kinda feel bad about saying that since it came in the form of COVID-19...
Post by: nwa-non on March 01, 2020, 10:53:59 AM
Also, I go by NWA-non (NOT Now-non)
Post by: ysette9 on March 01, 2020, 09:46:04 PM
Wanted to confirm that my last day at my soul sucking corporate job was 1/3/2020. I'm absolutely loving this RE-life!Congratulations
Also, I go by NWA-non (NOT Now-non)
Post by: Fresh Bread on March 02, 2020, 06:30:11 PM
Post by: aspiringnomad on March 02, 2020, 08:57:28 PM
I caught my boss completely unawares today when I gave him my 2-week notice. I’ll be leaving one week after another lady, and our group is only 5 people strong, so it was a big hit for him.
That said, he was very gracious, congratulated me, and most importantly agree to let me be on vacation after my last day to burn it all off instead of getting a payout. The reason this is important is because it would allow me one more stock vest event before officially leaving. He didn’t have to agree to that, so that is considerate.
I had to go to the ladies’ room after our meeting to take a moment to wipe to goofy smile off my face before returning to my desk.
Congrats, @ysette9!! And it's awesome that you got to burn off your leave. I wasn't able to for very silly reasons.
Post by: CrazyIT on March 06, 2020, 01:32:27 PM
I worked from home today. Answered a few emails but mostly moved all my (personal) contacts from my work Outlook to my personal email. Got my home office organized and cleaned up. Have a decent pile of stuff to bring back to work.
Next week is optional for me to go in since my responsibilities have all been on-boarded to a vendor unless requested.
Guess I'll go in a few times to catch up with a few coworkers? lol
5 days and counting.
Post by: ysette9 on March 06, 2020, 02:55:45 PM
One more week! I’m focusing more on the things I will miss and doing a good job of avoiding the stuff I don’t like. A good way to end things.
Post by: damyst on March 07, 2020, 06:11:19 AM
I can't really claim to be FIRE'd - it wouldn't mean much with a still-working high-income spouse + plans to spend most of my time building my dream business. But it was the FIRE movement that gave me a blueprint for escaping a career that was increasingly feeling like a locked cage.
I'm really stoked for what comes next, and wanted to share with folks who might be sympathetic :-)
Post by: Linea_Norway on March 07, 2020, 11:33:09 AM
Hi all, thought I'd crash this party to share that yesterday was my last day at work!
I can't really claim to be FIRE'd - it wouldn't mean much with a still-working high-income spouse + plans to spend most of my time building my dream business. But it was the FIRE movement that gave me a blueprint for escaping a career that was increasingly feeling like a locked cage.
I'm really stoked for what comes next, and wanted to share with folks who might be sympathetic :-)
Congrats on not having a job anymore and being safe to do so.
Post by: Maenad on March 08, 2020, 07:24:45 AM
Hi all, thought I'd crash this party to share that yesterday was my last day at work!
I can't really claim to be FIRE'd - it wouldn't mean much with a still-working high-income spouse + plans to spend most of my time building my dream business. But it was the FIRE movement that gave me a blueprint for escaping a career that was increasingly feeling like a locked cage.
I'm really stoked for what comes next, and wanted to share with folks who might be sympathetic :-)
Congratulations! You had FU money, and said FU to a situation that wasn't working for you - that's wonderful!
My last day is Friday the 13th - I've got my last meetings this week, some I'm doubtful I can add much value to, so I may skip them. A goodbye shindig at one location Wednesday, then the other location Friday, along with my exit interview.
I also just found out that a coworker whose health has been bad for the last few months is in the hospital literally in her last days. She loved her work, so she was able to do what she loved up to almost the very end, but it's a good reminder to me that planning for your dreams and then executing that plan is vitally important.
I think Monday the 16th may be the best day of my life.
Post by: ysette9 on March 08, 2020, 08:52:41 AM
My joint goodbye lunch (with another coworker whose last day was last Friday) got canceled due to corona. Darned, she had picked a good restaurant also.
Friday the 13th, here we come!
Post by: IslandFiGirl on March 08, 2020, 10:48:38 AM
I just made it to the four week mark after quitting my job. In that time I've been sick THREE times! 2 colds that knocked me out for about 4-5 days each and a horrid stomach virus that kicked my butt for THREE DAYS (me and the toilet became great friends)!!! All I could think of was that there was no way I'd have been able to take time off work for any of those illnesses. Thinking back on having to work while sick over the years makes me SO MAD, and not just for me, but for anyone who has to suffer through that.
I think I quit at just the right time. I know that if I had waited until this corona virus hoopla, I probably would have been scared to quit, seeing my net worth plummet by almost 10 percent is scary! I spent double my grocery budget this month stocking up on food. In the grand scheme it's not a big deal and I'll eventually eat it all, but in the short term, I'm like OMG, my budget!!! But it's FINE! I took this leap for a reason, I knew I was financially secure and the world may be going a bit crazy around me, meanwhile, I'm at home catching up on Netflix and blogs and cooking and organizing. I haven't been doing a whole lot since it's still winter, but good weather is almost upon us and me and the great outdoors will become acquainted once again. I plan on updating my journal in more detail if anyone is interested in reading it.
Post by: ysette9 on March 08, 2020, 01:59:04 PM
@Maenad and @ysette9 I'm so excited for both of you! So much anticipation and excitement leading up to your last day of work.I am so sorry you have been sick.
I just made it to the four week mark after quitting my job. In that time I've been sick THREE times! 2 colds that knocked me out for about 4-5 days each and a horrid stomach virus that kicked my butt for THREE DAYS (me and the toilet became great friends)!!! All I could think of was that there was no way I'd have been able to take time off work for any of those illnesses. Thinking back on having to work while sick over the years makes me SO MAD, and not just for me, but for anyone who has to suffer through that.
I think I quit at just the right time. I know that if I had waited until this corona virus hoopla, I probably would have been scared to quit, seeing my net worth plummet by almost 10 percent is scary! I spent double my grocery budget this month stocking up on food. In the grand scheme it's not a big deal and I'll eventually eat it all, but in the short term, I'm like OMG, my budget!!! But it's FINE! I took this leap for a reason, I knew I was financially secure and the world may be going a bit crazy around me, meanwhile, I'm at home catching up on Netflix and blogs and cooking and organizing. I haven't been doing a whole lot since it's still winter, but good weather is almost upon us and me and the great outdoors will become acquainted once again. I plan on updating my journal in more detail if anyone is interested in reading it.
When I was in undergrad I was super stressed and worked really hard. After finals were over each semester I wouid get sick, like clockwork. I finally decided that it was when all the stress let up it was like my body finally realized it was okay to let its guard down and then I would catch some bug that would force me to take it easy and rest. Maybe something similar is happening to you?
Post by: IslandFiGirl on March 08, 2020, 02:51:45 PM
I am so sorry you have been sick.
When I was in undergrad I was super stressed and worked really hard. After finals were over each semester I wouid get sick, like clockwork. I finally decided that it was when all the stress let up it was like my body finally realized it was okay to let its guard down and then I would catch some bug that would force me to take it easy and rest. Maybe something similar is happening to you?
[/quote]
Yeah, I think that's what's going on, hopefully now that I've been sick a few times and I'm really not even stressed (not even about corona virus or the market) I can start getting back into my life!
Post by: MoneyTree on March 08, 2020, 03:37:56 PM
Here is an article on it: https://www.huffpost.com/entry/let-down-effect-sickness_n_568d60e0e4b0a2b6fb6e510b
I used to get this all the time. For some reason it doesn't happen to me as much anymore.
Post by: Maenad on March 09, 2020, 05:06:38 AM
Post by: IslandFiGirl on March 09, 2020, 10:18:10 AM
Yep, DH and I have all our favorite sick foods ready, and I told my elderly parents I'm self-quarantining for the last 2 weeks of March.
That's a good idear!
Post by: Linea_Norway on March 09, 2020, 12:36:12 PM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) CONFIRMED
03/06/20 damyst CONFIRMED
03/07/20 Fresh Bread Swami
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/??/20 Maenad Given notice
03/20/20 Mmm_donuts Given notice
03/??/20 FInding_peace (@38)
03/??/20 or later 20 Beeboy (@46)
03/31/20 texxan1
03/31/20 wildatheart (@53)
04/02/20 CptCool
04/09/20 rab-bit's wife Given notice
04/14/20 MarcherLady
04/17/20 Ottawa
04/??/20 DreamFIRE
04/??/20 Exit2019
04/??/20 Pennycounter
04/24/20 aspiringnomad (@37) Given notice
04/??/20 or later 20 robtown
04/??/20 - 07/??/20 JoJo
05/01/20 Fresh Bread's husband
05/01/20 Much fishing to do
05/15/20 SailingOnASmallSailboat's DH (@50/51)
05/15/20 BeanCounter
05/15/20 Lucky13 (@44)
05/22/20 Body Surfer Given notice
05/31/20 Dee18
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/05/20 thelyon19
06/05/20 (or April) rab-bit (@59)
06/16/20 Kteach
06/??/20 Farmgirl (@61)
06/??/20 ixtap (date uncertain)
07/01/20 FireLane (@38)
07/01/20 Unique User (@50)
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20. bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) Given notice
08/??/20 or 2021 Bateaux
09/25/20 apurplelife
09/??/20 Dan23
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/20/20 Alternatepriorities
11/30/20 Itchyfeet
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
12/??/20 desk_jockey
??/??/20? Gumption
To be decided: tipster350
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Steevven1 (@29): parttime from 01/2020.
Post by: Alternatepriorities on March 09, 2020, 12:46:57 PM
Post by: Body Surfer on March 09, 2020, 07:37:05 PM
Hopefully you folks are happy with your AA.
Best of luck to all of us.
Post by: Linea_Norway on March 10, 2020, 01:50:35 AM
In the third week of July we will receive all the cash for the selling house, about 875K. I wonder how the market will be by that time. Hopefully not at a new all time high. We plan to put about 50% in the stock market. The other half will be set aside for buying a new house after renting for a year.
Post by: 2Birds1Stone on March 10, 2020, 02:10:47 AM
I'm revisting this thread to encourage you all to avoid fear from preventing your dreams from being realized. I know that if I hadn't done a OLY and FIRE'd in 2019, I would definitely be second guessing myself right now.
Sent from my SM-N950U using Tapatalk
Post by: SailingOnASmallSailboat on March 10, 2020, 06:17:37 AM
1. We're likely doing COBRA for the rest of 2020 anyway, as we're over the level of income for subsidy and any plan I can find is at or above what our COBRA cost is
2. We are healthy and fine and not in a high risk group. We're not likely to need more medical care because of this virus than anything else. If we were not worried before this, being worried now makes no sense.
3. We live more isolationist lives as a matter of course; our plans to move onto the boat aren't a change from this.
I'm also listening to his worries and trying to help alleviate them, mostly by restocking the house with food (we've been trying to eat down everything so we have less to move when we sell the house).
He's back on board with May 1 as his notice date.
Post by: Sand101 on March 11, 2020, 10:29:47 PM
Post by: ysette9 on March 11, 2020, 10:34:31 PM
I went from being 0.3% away from "safe" to a long, long way away. Safe to say that I can be removed from this list.My condolences
Post by: MoneyTree on March 11, 2020, 11:17:52 PM
I went from being 0.3% away from "safe" to a long, long way away. Safe to say that I can be removed from this list.
I'm in a similar boat. I have no doubt that stocks will eventually recover, but it i'm guessing it won't happen in a timeframe that would allow me to FIRE by the end of 2020.
But I'm not too bummed about it. This is precisely why i'm still working, so that I can accumulate enough buffer and safety margin to absorb big corrections like this one. I wasn't quite there yet, but I'm very thankful for the timing of this recent sell off. If major market corrections are inevitable, I'd rather it come while I'm still working and not after I quit.
Post by: CptCool on March 12, 2020, 08:36:30 AM
I went from being 0.3% away from "safe" to a long, long way away. Safe to say that I can be removed from this list.
I'm in a similar boat. I have no doubt that stocks will eventually recover, but it i'm guessing it won't happen in a timeframe that would allow me to FIRE by the end of 2020.
But I'm not too bummed about it. This is precisely why i'm still working, so that I can accumulate enough buffer and safety margin to absorb big corrections like this one. I wasn't quite there yet, but I'm very thankful for the timing of this recent sell off. If major market corrections are inevitable, I'd rather it come while I'm still working and not after I quit.
I'm also in a similar boat, but think we're still going to go for it. At first I was seriously debating on delaying giving notice (partner gives it tomorrow and I will next week), but we are both quite young so if we go into a bear market followed by stagnation we can come back to the workforce in a year or three after taking some extended time off.
Post by: itchyfeet on March 12, 2020, 01:26:14 PM
Post by: MarcherLady on March 12, 2020, 02:39:23 PM
Post by: Body Surfer on March 12, 2020, 02:43:28 PM
Post by: BFGirl on March 12, 2020, 03:36:09 PM
Post by: aspiringnomad on March 12, 2020, 03:39:07 PM
Post by: rab-bit on March 12, 2020, 04:02:33 PM
The new plan is to take it month-by-month. If we accept an offer for the old home and things start to calm down a little with the virus and the markets, then I'll pull the trigger. But there are just too many unknowns right now.
Post by: Maenad on March 12, 2020, 04:07:10 PM
I'm not bothered by what the market is doing. I remember 2008, when it felt like the entire world banking industry was imploding. This is serious, and we need to be cautious, but it's just not the same, regardless of how the market is reacting.
We have several years of living expenses in cash assuming we are frugal, which is not a hardship and is the plan for now. If I get nervous, I can call up my former boss, she said she'll figure out a way to get me back into the group.
I am so happy right now, it's like the sun is shining and the little birdies are chirping and there's not a damn thing that can change that. I'm going to just ride the endorphin/oxytocin rush!
Post by: Fresh Bread on March 12, 2020, 07:07:24 PM
Post by: itchyfeet on March 12, 2020, 10:41:13 PM
Post by: Linea_Norway on March 13, 2020, 01:49:00 AM
I had been planning on giving my notice next week, but now having second thoughts. We have moved into our retirement home but have had no luck so far selling our old home and I'm worried that buyers will start getting scared. We may end up having to rent it out for a while if we can't sell it.
The new plan is to take it month-by-month. If we accept an offer for the old home and things start to calm down a little with the virus and the markets, then I'll pull the trigger. But there are just too many unknowns right now.
When I was 5 years old, my parents were in this situation, bought a bigger house and couldn't sell their previous for two years. That was an economic challenge for them. Renting it helped a bit, but they lost money in total. I hope your situation will be better.
Post by: Linea_Norway on March 13, 2020, 01:54:37 AM
Today was my last day in the office. Tomorrow I have my exit interview over the phone. Laptop, badge, and exit paperwork were all left on my boss's desk today.
I'm not bothered by what the market is doing. I remember 2008, when it felt like the entire world banking industry was imploding. This is serious, and we need to be cautious, but it's just not the same, regardless of how the market is reacting.
We have several years of living expenses in cash assuming we are frugal, which is not a hardship and is the plan for now. If I get nervous, I can call up my former boss, she said she'll figure out a way to get me back into the group.
I am so happy right now, it's like the sun is shining and the little birdies are chirping and there's not a damn thing that can change that. I'm going to just ride the endorphin/oxytocin rush!
Congrats. Cash is king right now.
Post by: ysette9 on March 13, 2020, 05:17:15 PM
Post by: Padonak on March 13, 2020, 08:54:51 PM
I was laid off from my office job and knew about the upcoming layoff since last fall. I was going to quit anyway so the layoff was timely. The severance isn't great but hey, it's money, I'll take it.
I'm in my late 30s, single, lean FI, frugal. I was planning to leave the HCOL area where I'm currently staying, slow travel internationally for awhile, then choose a place where I want to stay longer whether it's a lower COL area in the US or overseas. However, now I'm stuck here because of this coronavirus situation and don't know how long I'll have to stay put, hopefully not too long. I was going to stay here another couple of months anyway to finish some personal projects and get ready to travel. Hopefully a couple of months from now the situation will get better.
I don't know how to feel about what happened to me and whether I should even call it retirement. I rebalanced last year and created a "bond tent" of 30% cash + bonds, which is by now 40%, so I am not too worried about running out of money anytime soon even if the stock market keeps puking. Still, looking at the current portfolio does not inspire confidence even though I'm not freaking out and definitely not selling low.
I guess you can call me semi retired. I'm pretty sure I'll return to work at some point in my life, maybe out of boredom if nothing else. What's important that if and when it happens, it will happen on my terms. For example, working from home as opposed to sitting in a stupid open plan office. Working on something I'm interested in as opposed to doing what I'm told. Perhaps working for myself as opposed to having a boss.
These are interesting times for all of us, but I'm sure things will get better.
Post by: Bateaux on March 13, 2020, 09:41:58 PM
Today was my last day at work, lucky Friday the 13th. Work was a ghost town and I turned in my laptop and badge without seeing or talking to anyone I knew at work. Very surreal. There was no goodbye, just walking out of the building and not looking back.
Had to be a strange way to go. Good luck going forward. You are no doubt the envy of those who will have to come back.
Post by: Lucky13 on March 13, 2020, 10:49:38 PM
Post by: Linea_Norway on March 14, 2020, 02:02:31 AM
How about you, @CrazyIT ?
Post by: Mmm_Donuts on March 14, 2020, 06:08:44 AM
I am afraid to look at our accounts but I believe we are down to about 70% of our goal FIRE number now. DH is still working and I will still be working PT so it's unsettling but I'm not too worried about the numbers right now.
On the outside it seems like the craziest time to quit. But I was also freelance during 2008 and made it through without panic selling. I remember the feeling that the world was collapsing and that civilization as we know it would soon be over. Somehow though, we made it through all that. At that time I had a huge mortgage - we were worried about losing the house. This time we have no mortgage, a decent amount of cash to see us through, some pretty solid investments, and incomes. Like others have said above it's quite devastating to see what is happening throughout the world and I certainly wouldn't have wished a pandemic to be the cause but at the same time am relieved that the correction is finally happening.
Post by: rebel_quietude on March 14, 2020, 06:18:19 AM
Post by: HappyCheerE on March 14, 2020, 09:32:45 AM
So FIRE isn't much of a concern, but I am very worried about how well the US navigates these choppy waters when we have no idea how far community transmission has already progressed. I'm afraid we're going to be much worse off than Italy. I hope this prompts some needed changes (like universal health care and paid sick leave!) and that we pull together as communities. Stay safe, everyone. We are so fortunate to have modern medicine, the Internet, and each other.
Post by: Linea_Norway on March 14, 2020, 12:50:16 PM
Chiming in to support this year's graduating class. I know whatever decisions you make on timelines and allocation, will be the right ones for you. You all have been working toward this for years and know how to balance pragmatic finances with what's best for your health and happiness.
Even though my Nowegian stock is down with 25% since I bought them, I am still optimistic that this will go up again at some point, hopefully after we received the cash for the home sale.
I am very worried about the corona restrictions and the fact that we must leave our home in July. How to organize that. It also sucks thatbifvthis lasts for months, we cannot have the trips we would like to make. We didn't FIRE to sit at home all the time.
I hope that many of the others here also see this crash as something tempirary and dare to FIRE.
Post by: Linea_Norway on March 14, 2020, 12:54:42 PM
I gave 6 month's notice at the beginning of February and all along I'd been planning on the market dropping 50% as soon as I stopped working. This is a much better scenario since I'm still employed now - I figure each month of work is worth 2x the salary since we're not spending down, as we would be if I was already done. So sticking to the plan for now at least (@Linea_Norway, when you get a chance my stop date is 8/7/2020 so that 8/8/2020 is my first day of freedom - love auspicious numbers). I've been slowly working my way through Living Off Your Money, which is very reassuring. We had already adjusted our AA to 55/45 partly because the closer we got the more upset I knew I'd be if FIRE got postponed... we'll be rebalancing gradually over the next few months to be back at 55/45 in August, which turns out to be exactly what McClung recommends.
So FIRE isn't much of a concern, but I am very worried about how well the US navigates these choppy waters when we have no idea how far community transmission has already progressed. I'm afraid we're going to be much worse off than Italy. I hope this prompts some needed changes (like universal health care and paid sick leave!) and that we pull together as communities. Stay safe, everyone. We are so fortunate to have modern medicine, the Internet, and each other.
Even here in Norway, some people are not fired, but sent home in a situation where their employer cannot pay them. Like people in hotel or airplane jobs. One person said he would only get 62% of his basic wage, which was extremely low.
But in the US, companies should send their employees to work from home, those who can. And give paid sickleave to others, so that people don't come to work if they are sick.
Post by: CrazyIT on March 14, 2020, 03:43:07 PM
Congrats, @Yvette9 and @Padonak .
How about you, @CrazyIT ?
YES!!!
Went in around 9. Locked myself out of all the systems (if you could maybe tell by my name), handed in my badge and key. Said my goodbyes and bolted for the door.
I am concerned like many about the Coronavirus but not at all financially. Unless we have a 50% drop for many years I am considering myself Fat FIRE'ed. I am sure the transition from saving to spending will be weird at first but not worried.
First order of business will be seeing my new Granddaughter several states away.
Thank you all for this great community and support. No question hours of reading hundreds of posts help me more then I will probably ever realize.
Post by: MarcherLady on March 15, 2020, 01:10:54 AM
Post by: Freedomin5 on March 15, 2020, 09:44:05 AM
Congrats, @Yvette9 and @Padonak .
How about you, @CrazyIT ?
YES!!!
Went in around 9. Locked myself out of all the systems (if you could maybe tell by my name), handed in my badge and key. Said my goodbyes and bolted for the door.
I am concerned like many about the Coronavirus but not at all financially. Unless we have a 50% drop for many years I am considering myself Fat FIRE'ed. I am sure the transition from saving to spending will be weird at first but not worried.
First order of business will be seeing my new Granddaughter several states away.
Thank you all for this great community and support. No question hours of reading hundreds of posts help me more then I will probably ever realize.
Congratulations!
I hope you’re planning to drive to see your new grand baby, and not planning to fly. The airport is a great place to pick up someone else’s germs, especially with all the American travelers returning from highly infected areas. And then spending a few hours breathing recirculated air in an enclosed space will likely not help either. Even if you’re healthy and not in a high risk group and don’t show symptoms, your grand baby probably doesn’t need to be battling a virus during her first few few weeks of life.
Post by: apurplelife on March 15, 2020, 01:19:51 PM
Post by: ysette9 on March 16, 2020, 10:18:08 PM
Post by: Alternatepriorities on March 16, 2020, 10:41:43 PM
Post by: Linea_Norway on March 17, 2020, 01:30:06 AM
We rebalanced our portfolio tonight, selling bonds to buy stocks. My husband was rather shocked to see what our stash is at now. We are down something like $400k. I am serene because i always felt that this sort of thing would happen, just the universe’s way of being perverse. Naturally, the crash would come just as I retire. But he is working another year and we have more bonds now than we ever did during accumulation phase, so it isn’t nearly as bad as it could have been. Just keep swimming. Just keep swimming.
I feel also quite relaxed about and expect it to go up again. But I think this might turn out to be a real 1929 event. We can expect 1 to 2% of the population to die and many to loose their jobs. Still, I expect the stock market to go up again after a vaccin has developed (and spread world wide, not just US).
DH wondered yesterday whether he should sell some stocks, to claim the profit he still has. He used to have 20% profit and has now 6% profit left. I think that means he has lost 14% and should therefore not sell. I did manage to talk him out of it. We will go in with a lot of money in July, or later if there is a good reason for it. Maybe I am quite relaxed because we have 2/3 of our stash in our home which we sold just in time. We just won't receive the cash before July when we must have moved out.
Post by: ysette9 on March 17, 2020, 10:07:06 AM
Post by: Linea_Norway on March 17, 2020, 10:09:18 AM
I’m glad you got lucky on the timing of your house sale!
Yes, we are extremely lucky for that. Allthough it might become an issue when we need to move out and need to hunt for another place.
Post by: Trifle on March 18, 2020, 06:19:03 AM
Post by: rab-bit on March 18, 2020, 07:27:26 AM
I had been planning on giving my notice next week, but now having second thoughts. We have moved into our retirement home but have had no luck so far selling our old home and I'm worried that buyers will start getting scared. We may end up having to rent it out for a while if we can't sell it.
The new plan is to take it month-by-month. If we accept an offer for the old home and things start to calm down a little with the virus and the markets, then I'll pull the trigger. But there are just too many unknowns right now.
When I was 5 years old, my parents were in this situation, bought a bigger house and couldn't sell their previous for two years. That was an economic challenge for them. Renting it helped a bit, but they lost money in total. I hope your situation will be better.
Good news for us, we accepted an offer on our townhouse this morning! I have the feeling that we may have gotten lucky selling now before the economic effects of this virus fully impact the real estate market. Our buyers seem solid, so hopefully they won't have any trouble getting a mortgage and won't get scared or lose their jobs.
We were also invested pretty conservatively in preparation for retirement so we're fortunate that our stash has declined "only" about 13% so far. I have been rebalancing and gradually increasing our equity exposure as the market has declined, so hopefully that will pay off later on.
The townhouse sale is a huge relief for us so I now plan to give my notice in mid-April with an expected last day of work on May 8th. The dream is still alive!
Post by: ysette9 on March 18, 2020, 08:02:39 AM
Post by: Linea_Norway on March 18, 2020, 10:26:51 AM
I had been planning on giving my notice next week, but now having second thoughts. We have moved into our retirement home but have had no luck so far selling our old home and I'm worried that buyers will start getting scared. We may end up having to rent it out for a while if we can't sell it.
The new plan is to take it month-by-month. If we accept an offer for the old home and things start to calm down a little with the virus and the markets, then I'll pull the trigger. But there are just too many unknowns right now.
When I was 5 years old, my parents were in this situation, bought a bigger house and couldn't sell their previous for two years. That was an economic challenge for them. Renting it helped a bit, but they lost money in total. I hope your situation will be better.
Good news for us, we accepted an offer on our townhouse this morning! I have the feeling that we may have gotten lucky selling now before the economic effects of this virus fully impact the real estate market. Our buyers seem solid, so hopefully they won't have any trouble getting a mortgage and won't get scared or lose their jobs.
We were also invested pretty conservatively in preparation for retirement so we're fortunate that our stash has declined "only" about 13% so far. I have been rebalancing and gradually increasing our equity exposure as the market has declined, so hopefully that will pay off later on.
The townhouse sale is a huge relief for us so I now plan to give my notice in mid-April with an expected last day of work on May 8th. The dream is still alive!
Congrats!
Post by: MarcherLady on March 18, 2020, 03:18:00 PM
Post by: exit2019 on March 18, 2020, 09:26:40 PM
If we only drop another 20% or so, I will still pull the trigger this year, but I have the option of extending my current employment another 3Q which will net me +5% of my (current) net worth. so ... we are in a holding pattern.
I fully expect we'll see another -30+% from this point, though, by end of summer at the latest. the entire world economy is shutting down.
Post by: Jack0Life on March 18, 2020, 11:04:23 PM
We rebalanced our portfolio tonight, selling bonds to buy stocks. My husband was rather shocked to see what our stash is at now. We are down something like $400k. I am serene because i always felt that this sort of thing would happen, just the universe’s way of being perverse. Naturally, the crash would come just as I retire. But he is working another year and we have more bonds now than we ever did during accumulation phase, so it isn’t nearly as bad as it could have been. Just keep swimming. Just keep swimming.
Wow $400k is just jaw dropping.
Post by: Linea_Norway on March 19, 2020, 01:11:17 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) CONFIRMED
03/06/20 damyst CONFIRMED
03/07/20 Fresh Bread Swami
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/??/20 or later 20 Beeboy (@46)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE
04/02/20 CptCool
04/09/20 rab-bit's wife Given notice
04/17/20 Ottawa
04/??/20 DreamFIRE
04/??/20 Pennycounter
04/24/20 aspiringnomad (@37) Given notice
04/??/20 or later 20 robtown
04/??/20 - 07/??/20 JoJo
05/01/20 Fresh Bread's husband
05/01/20 Much fishing to do
05/15/20 BeanCounter
05/15/20 Lucky13 (@44)
05/22/20 Body Surfer Given notice
05/31/20 Dee18
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/01/20 texxan1
06/05/20 thelyon19
06/05/20 (or April) rab-bit (@59)
06/16/20 Kteach Given notice
06/15/20 BigHaus89
06/??/20 Farmgirl (@61)
06/??/20 ixtap (date uncertain)
07/01/20 FireLane (@38)
07/01/20 Unique User (@50)
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) Given notice
08/??/20 or 2021 Bateaux
09/25/20 apurplelife
09/30/20 MarcherLady
09/??/20 Dan23
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/10/20 exit2019
11/20/20 Alternatepriorities
11/30/20 Itchyfeet
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
To be decided:
tipster350
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Steevven1 (@29): parttime from 01/2020.
Post by: ysette9 on March 20, 2020, 10:30:13 AM
It is, right? And yet it still sort of feels like Monopoly money. We will be okay. Our plans for the future just got more fuzzy but we will go with the flow.We rebalanced our portfolio tonight, selling bonds to buy stocks. My husband was rather shocked to see what our stash is at now. We are down something like $400k. I am serene because i always felt that this sort of thing would happen, just the universe’s way of being perverse. Naturally, the crash would come just as I retire. But he is working another year and we have more bonds now than we ever did during accumulation phase, so it isn’t nearly as bad as it could have been. Just keep swimming. Just keep swimming.
Wow $400k is just jaw dropping.
Post by: JoJo on March 22, 2020, 12:58:52 PM
Post by: Much Fishing to Do on March 22, 2020, 03:31:36 PM
I fully expect we'll see another -30+% from this point, though, by end of summer at the latest. the entire world economy is shutting down.
So I always thought most of us don't sell in times like this because we don't think we can venture a guess as to whether the next move is down or up...and over time it averages more up than down...and the ups can be even more violent after the big downs, so we just stay in.
If I read this line right, and one fully expects another 30% drop by the end of the summer, why don't they just sell now and buy back in later? I admit I may not be interpreting this correctly.
Post by: exit2019 on March 23, 2020, 03:14:26 PM
2. going into this I already switched us to a 42.5/42.5/15 stock/bonds/cash (cash is higher than it should be because we've been sitting on a payout for awhile) - rising equity glidepath and a tent for the first 3Y
3. most of our investments date from 2008; we don't have useful losses to harvest; I suppose we could take the gains and pay the tax now but it seems like a bad choice
given these, "not doing anything" is the right thing to do. we'll see how this week/month fares but I suspect more down.
Post by: aspiringnomad on March 24, 2020, 02:37:35 PM
Post by: SailingOnASmallSailboat on March 24, 2020, 03:32:39 PM
We're holding off. DH is planning still to have the conversation May 1, but it will be with the aim of going part time. Our house is not on the market, the boat is not finished enough to go anywhere - but the bigger deal is that we now have kids back home as who knows when colleges will actually be operational again. Plus, we can't go anywhere on the boat as all countries are closed.
Take us off the list please. Maybe we can add back on later this year if things shift around.
Post by: Fresh Bread on March 24, 2020, 04:34:22 PM
Post by: Linea_Norway on March 25, 2020, 02:07:50 AM
Congrats to all who are on target and given notice. Yahoo!
We're holding off. DH is planning still to have the conversation May 1, but it will be with the aim of going part time. Our house is not on the market, the boat is not finished enough to go anywhere - but the bigger deal is that we now have kids back home as who knows when colleges will actually be operational again. Plus, we can't go anywhere on the boat as all countries are closed.
Take us off the list please. Maybe we can add back on later this year if things shift around.
Sorry for your situation. But not the end of the world. Many of us have to adapt our plans.
Post by: BigHaus89 on March 25, 2020, 10:11:20 AM
I will be shifting from a 45 hr/week engineering job to working maximum 5 hr/week running a biz with DW. I am tired of the small mindedness and rigid work hours of my current job. Also, I'm pretty jaded on engineering in general. I can't see myself enjoying any other jobs in my field. The 10% of actual engineering is awesome and I love it but the other 90% is stupid corporate bullshit no matter where you go in the industry. Not for me.
Post by: exit2019 on March 25, 2020, 03:15:13 PM
Post by: desk_jockey on March 25, 2020, 09:36:50 PM
I’m not fearful. Can’t even say I feel disappointed. It is what it is. Learning about FI and the tools in this forum and from blogs have been a gift, and I seem to be one of the few in my circles that’s not worried about what’s coming financially. If furloughs or unpaid vacation weeks are in the works, I’ll be the person that takes them with a big grin.
I plan to focus on making my job better for me in the near term, keep putting money into the markets, and probably set my eyes to the class of 2022. If my situation changes then you guys will be the first to know.
Post by: Linea_Norway on March 25, 2020, 11:59:08 PM
New exit date 11/10/2020. Still in this year. Work extended my exit timeframe and agreed to a reduced presence - so now working 4D/week instead of 5 until I'm out, same compensation.
At least you will get a 50% longer weekend. That is a good feeling.
Post by: Linea_Norway on March 26, 2020, 12:01:09 AM
I am joining the 2020 cohort and will be finished with work in June! I have about 6 weeks of PTO to cash out so I am in the home stretch here and also working from home because of COVID-19.
I will be shifting from a 45 hr/week engineering job to working maximum 5 hr/week running a biz with DW. I am tired of the small mindedness and rigid work hours of my current job. Also, I'm pretty jaded on engineering in general. I can't see myself enjoying any other jobs in my field. The 10% of actual engineering is awesome and I love it but the other 90% is stupid corporate bullshit no matter where you go in the industry. Not for me.
Welcome. Is the first of June your actual FIRE date?
Post by: Linea_Norway on March 26, 2020, 12:03:14 AM
I’m pretty much removing my name from this class. Getting a package might nudge me into RE, but otherwise I don’t see myself leaving on my own accord this year.
I’m not fearful. Can’t even say I feel disappointed. It is what it is. Learning about FI and the tools in this forum and from blogs have been a gift, and I seem to be one of the few in my circles that’s not worried about what’s coming financially. If furloughs or unpaid vacation weeks are in the works, I’ll be the person that takes them with a big grin.
I plan to focus on making my job better for me in the near term, keep putting money into the markets, and probably set my eyes to the class of 2022. If my situation changes then you guys will be the first to know.
Goodbye.
It is a luxury to be in a situation where you won't have to worry financially, under current circumstances.
Post by: MarcherLady on March 26, 2020, 01:25:11 AM
I'm concentrating on helping out in my community as best I can (I'm a telephone buddy to an elderly lady who is in self-isolation and lonely) and keeping up the spirits of my friends and family as best I can.
I'm humbled and encouraged by the acts of selflessness I see around me to support people.
Post by: Linea_Norway on March 26, 2020, 02:38:42 AM
Have you indeed stopped working? Or are you still in your last days?
Post by: Linea_Norway on March 26, 2020, 02:41:43 AM
What is your status? Planning to FIRE or postponing it?
Post by: BigHaus89 on March 26, 2020, 10:27:38 AM
I am joining the 2020 cohort and will be finished with work in June! I have about 6 weeks of PTO to cash out so I am in the home stretch here and also working from home because of COVID-19.
I will be shifting from a 45 hr/week engineering job to working maximum 5 hr/week running a biz with DW. I am tired of the small mindedness and rigid work hours of my current job. Also, I'm pretty jaded on engineering in general. I can't see myself enjoying any other jobs in my field. The 10% of actual engineering is awesome and I love it but the other 90% is stupid corporate bullshit no matter where you go in the industry. Not for me.
Welcome. Is the first of June your actual FIRE date?
Probably mid-June is closer to the actual date.
Post by: Maenad on March 26, 2020, 03:10:36 PM
@Maenad and @Mmm_Donuts@Linea_Norway I have indeed stopped! Last day was March 13th. Currently spending my days stress-baking and watching funny YouTube videos.
Have you indeed stopped working? Or are you still in your last days?
Post by: ysette9 on March 26, 2020, 10:19:11 PM
Last day of work buddies!@Maenad and @Mmm_Donuts@Linea_Norway I have indeed stopped! Last day was March 13th. Currently spending my days stress-baking and watching funny YouTube videos.
Have you indeed stopped working? Or are you still in your last days?
Post by: Linea_Norway on March 27, 2020, 12:27:32 AM
@Maenad and @Mmm_Donuts@Linea_Norway I have indeed stopped! Last day was March 13th. Currently spending my days stress-baking and watching funny YouTube videos.
Have you indeed stopped working? Or are you still in your last days?
Good for you. Congrats!
Post by: Mmm_Donuts on March 27, 2020, 06:50:59 AM
@Maenad and @Mmm_Donuts
Have you indeed stopped working? Or are you still in your last days?
Yes I've stopped :) Going through a whole range of emotions these days. I'm going to stay on part time for the foreseeable future. But the FT work is done.
Post by: JoJo on March 27, 2020, 11:19:57 AM
Post by: Linea_Norway on March 27, 2020, 11:30:27 AM
2019 bonus hit the bank account yesterday, incentive to retire ASAP is now here, with the exception of being shut in... retiring now just to sit in the apartment not an attractive choice.
Indeed. We may only move around locally. So we're now planning for a canoe/tenting trip on an island in the Oslo fjord, close to home. We went there today, but DH had forgotten his fishing rods, so we drive home again and will come back tomorrow morning. But this will be the first trip we are making since weeks. We would normally have spent the time at our cabin, skiing. But that is now forbidden by improvised new law (not overload the rural health system). And the local forest, apart from being a bit boring, has still a lot of snow in it, but too little for skiing. So we are sitting home now, taking a small trip every day. I wouldn't have FIREd if I new this was coming. So unless, you want to read lots of books instead of working from home, or doing yoga at home, or baking bread, just stay at work a bit longer.
I am so curious how long this will epidemia last... I certainly hope we will be allowed to move again after easter, as we need a place to live from the first of July. We have sold our house and need to move out.
Post by: itchyfeet on March 27, 2020, 10:11:50 PM
We are in full lockdown this weekend in Dubai. The government has issued a regulation requiring 80% of people to work from home, from this weekend forward, except for certain exempt industries.
I suspect this lockdown situation to last 1-2 months, after which we will have 12 months of very restricted travel and continuing recommendations of social distancing.
It will be a few years before economies are fully recovered, with everyone back fully employed. It will take that long to unpack all of the financial carnage that this disruption will have caused.
2022 will be an awesome year to be FIRED. By then all of us on this thread will be well settled into post working life and will be ready to make the absolute most of the enormous opportunities that will be before us.
Post by: EscapeVelocity2020 on March 27, 2020, 10:34:18 PM
...
We are in full lockdown this weekend in Dubai.
...
@itchyfeet Cool you are in Dubai, lockdown notwithstanding. My family lived in Jumeirah Islands (Cluster 24) for a few years and I commuted to Sharjah. Still miss flying on Emirates, but I'll be back (hopefully, someday). Have you been to Oman?
Post by: Linea_Norway on March 28, 2020, 12:50:14 AM
I also wonder whether this crisis might lead to big societal changes, like UBI for everyone in the state. Or for Norway to join the Euro.
Post by: 2Birds1Stone on March 28, 2020, 12:53:40 AM
Sent from my SM-N950U using Tapatalk
Post by: FlytilFIRE on March 28, 2020, 06:32:15 PM
As a long time lurker (and admirer), I can now report that I have joined the Class of 2020! I expected to retire in 2023, FI, but not RE (I'm 62), but just elected to take a buyout before the drama begins. Thanks for the MANY hours of instruction/enjoyment in the last two years, and, once I figure out how to actually POST something, I hope to add my minor insight in future threads.
Thanks!
Flytillfire
Post by: ysette9 on March 28, 2020, 08:54:28 PM
Hi,Congrats! Welcome to the club.
As a long time lurker (and admirer), I can now report that I have joined the Class of 2020! I expected to retire in 2023, FI, but not RE (I'm 62), but just elected to take a buyout before the drama begins. Thanks for the MANY hours of instruction/enjoyment in the last two years, and, once I figure out how to actually POST something, I hope to add my minor insight in future threads.
Thanks!
Flytillfire
Stay safe.
Post by: MarcherLady on March 29, 2020, 12:43:37 AM
Post by: FlytilFIRE on March 29, 2020, 05:50:39 AM
Post by: ysette9 on March 29, 2020, 07:58:51 AM
Thanks ysette9 and MarcherLady. Ysette9, I see you just pulled the plug yourself! Congratulations to you. I was required to retire at age 65, so I've been working towards this for a while. I'm also not telling very many people that I've called it a day. With so many out of a job, or struggling to pay bills, it seems rude to announce that I've got my 'state and settling into my comfortable reclining years.No kidding. It feels like we could barely have crafted a more awkward time to retire if we had tried.
Post by: FlytilFIRE on March 29, 2020, 09:21:49 AM
[/quote]
No kidding. It feels like we could barely have crafted a more awkward time to retire if we had tried.
[/quote]
Yeah, but the way I looked at it, I didn't want to face the BS coming down in the airline industry. Better for me, and better for the young people looking at getting laid off...
A win-win, from my perspective.
Post by: Linea_Norway on March 29, 2020, 10:14:11 AM
Hi,
As a long time lurker (and admirer), I can now report that I have joined the Class of 2020! I expected to retire in 2023, FI, but not RE (I'm 62), but just elected to take a buyout before the drama begins. Thanks for the MANY hours of instruction/enjoyment in the last two years, and, once I figure out how to actually POST something, I hope to add my minor insight in future threads.
Thanks!
Flytillfire
Welcome.
Do I understand correct that you have already quit and that I can put you in the list with a confirmed date? Which date do you want to put there?
Post by: FlytilFIRE on March 29, 2020, 01:02:55 PM
Post by: Body Surfer on March 30, 2020, 06:45:40 PM
Hope you are all healthy and happy.
Post by: BlueMR2 on March 31, 2020, 04:24:51 PM
Post by: Katmandew on March 31, 2020, 04:52:32 PM
Post by: Linea_Norway on April 01, 2020, 01:30:56 AM
We pulled the rip cord on 3-10-2020 in the face of this medical and resulting economic storm. Me at 54, wife at 48. Thanks to this site and Bogleheads, we were prepared with an appropriate asset allocation (for us). We have a minimum of 6 years of cash in the bank, and can stretch it to 10 years if we have to do so. We have always lived well below our means, but finding this site and Bogleheads gave us the peace of mind that we could do it. Since retiring I have read one book and started another (Hitchhiker's Guide to the Galaxy - recommended by my son and a hoot so far), been taking nice walks with DW and our dog, work out, cook, and have started gardening. Ya, all the goings on are unnerving, but this too, shall pass.
Welcome to the cohort. I have put you into the list as confirmed.
You have a very good cushion, which comes in handy now that the stockmarket is so low.
The hitchhikers guide is a fantasically absurd book. Good to hear that you enjoy yourself.
Post by: Maenad on April 01, 2020, 06:38:04 AM
Thanks ysette9 and MarcherLady. Ysette9, I see you just pulled the plug yourself! Congratulations to you. I was required to retire at age 65, so I've been working towards this for a while. I'm also not telling very many people that I've called it a day. With so many out of a job, or struggling to pay bills, it seems rude to announce that I've got my 'state and settling into my comfortable reclining years.No kidding. It feels like we could barely have crafted a more awkward time to retire if we had tried.
I know, right? DH and I were talking about this. We happened to have a large cash cushion, since we were planning on a bunch of capital expenditures this year - new vehicle, adding a third stall to our garage, etc. So on one hand, between cash, dividends, and frugality, we have about 3 years of living expenses available and won't need to touch stocks or bonds. On the other, how many years will it be until our overall balance is back up and we can cash out stock to do those big things? We may have traded "stuff" for time in a way that's different from what we've already been doing, a way that feels more like an actual sacrifice.
Still don't want to go back to work though. My backfill req is on hold, and I have a call this week with my former boss and another person to re-do a passdown. I'm glad to do it, but I woke up in the middle of the night last night and had trouble getting back to sleep as I started thinking about my old job. First night of interrupted sleep in 2.5 weeks - think my body is telling me something?
Post by: Unique User on April 01, 2020, 07:39:11 AM
Post by: markbike528CBX on April 03, 2020, 10:35:30 PM
All 2020 Confirmed and future 2020 FIREees.
I'm very impressed how many of you are still FIREing! Congratulations on a big step up!
I talk big, but I'm not sure I could have FIREd intentionally during this time. If you see the whining in the 2+Million thread, you'll see why I'm impressed with this cohort's resilience in the face of a hard wind.
You 2020 Confirmed people have really inspired and comforted me during this time. If you can (and are) doing FIRE, then I can too!
Markbike528CBX
OP of 2019 thread, FIREd in 2018.
Post by: FIREby2021 on April 04, 2020, 01:46:14 PM
Normally I write monthly highlights; switching gears to quarterly:
- Portfolio stress test EXTREME continues ... we've all felt the consequences, no doubt. Coming off a great 2019, the Q1 of 2020 was a rude awakening for most of us. Glad to say that we've maintained our savings & giving targets, and aren't down nearly as much as we could have been. As has been mentioned in the past, we'd been in a mode of taking profits and dialing back risk. Thankful to have the opportunity to withstand this downturn with modest damage, and are actively starting to deploy dry powder to get to our longterm AA target. Currently at 35/65, targeting 80/20 by EOY 2020. A silver lining to this whole terrible mess should offer long term investors a decent entry point.
- I truly hope all here are doing OK, staying as healthy, safe & sane as possible during these trying times. Our mantra has been to stay "sober, yet peaceful" as we've learned to navigate the new realities (some temporary, some permanent). Sober to the fact that this is a really difficult & scary time for many, yet peaceful to the reality that we are not in control and can only make the best decisions we can for ourselves, families and those close to us. This too shall pass! My hope is there will be good things, necessary changes, and opportunities that arise from even a terrible situation as this one. I do still carry anxiety about how this might affect older, at-risk family members and for those working on the front lines. Ugh, it's just a lot, and I hope you all are OK.
- Travel was a big part of our 2020 plans, and lots has changed. We were able to make an incredible trip to Turkey in Feb before all this came about, but we've also cancelled a few trips that were scattered over the spring. Business travel also has ground to a halt ... so we are evaluating whether a road trip is in order (primarily to go help out my aging parents who are locked down and pretty limited). Every week our plans seem to evolve, which sort of drives me crazy as a planner. We'll probably be hunkered down at home and/or only do road trips until the fall, it seems.
- Remote working has been possible for both of us, thankfully, and the last 3 weeks have taught us a lot as to what that could look like in the future. We'd been discussing and evaluating an FI model whereby I try to maintain the possibility to work remotely in our dream FIRE location. Given the economic hits + the forced remote work, it's becoming more and more likely that this may be what unfolds for 2021. Taking it month by month, but that very well may become the interim step between FI and FIRE for us.
- At the end of 2019, our NW progress covered: a paid-off FIRE home, fully-funded FIRE lump sums (for giving, home renovation, new car, etc.) as well as a WR of 4.1% based on our target annual spend (living expenses, taxes, home maintenance, travel, healthcare, etc.). The first quarter of 2020 proceeded to take a ball peen hammer to that progress!
- Here we are, as of 01-APR-2020, our NW progress covers: a paid-off FIRE home, fully-funded FIRE lump sums, and a WR of 4.7%. Two ways to look at this - really disappointing, or wow, not as bad as it could have been! All-in-all our NW decreased 9.1% during Q1, reflecting the conservative AA we'd moved to and our continued savings rate.
- Countdown: Assuming monthly progress remains on par with our historic averages, we now project to reach our FI goal of a 3.75% WR by Q4-2021 ... this is a 1-year delay!! My office whiteboard countdown tracker now shows 11 months left before our previous FIRE target timing of Q1-2021, but right now everything is at risk and up for discussion. Thankful to have options and flexibility in place.
EOY 2015 = 53.8%
EOY 2016 = 67.8%
EOY 2017 = 75.5%
EOY 2018 = 81.6%
EOY 2019 = 94.1%
// FI target defined as 3.75% WR, mortgage-free + lump sums funded //
END OF MONTH PROGRESS:
JAN 2020 92.9%
FEB 2020 89.7%
MAR 2020 85.6%
We've come up with our dry-powder deployment plan for 2020, and otherwise are focused on doing our part to limit the spread of COVID-19, keep finding ways to enjoy life and make the best of it. Things have to get better from here, don't they? :-)
FIREby2021
Post by: texxan1 on April 04, 2020, 03:06:13 PM
@FInding_peace @wildatheart @beeboy @texxan1
What is your status? Planning to FIRE or postponing it?
I am still targeting june 1, ive been waiting on my contract ending and the company paying me off. No reason to chuck it right now, as my work is abroad and i cant get there anyways lol.. Still getting paid though and going fishing every day.
Post by: Kteach on April 04, 2020, 07:14:50 PM
Post by: wildatheart on April 06, 2020, 07:54:32 AM
@FInding_peace @wildatheart @beeboy @texxan1
What is your status? Planning to FIRE or postponing it?
I went with Plan A and FIRED March 19. OUCH! Am I crazy? Maybe. But, I planned for this and believe the long term will work out. I don't have the uber-comfort-level I had in January with my portfolio for liquidity, but I was able to tax-loss harvest almost my whole income for 2020, and get back into the markets at a reduced cost/share. I also shuffled and kept out all my cash for the year so if real bargains come by (like some super cheap oil!) I can make a little quicker come-back with some short-term wins.
Healthcare options are driving me a little extra crazy but I'll figure it out.
Post by: ysette9 on April 06, 2020, 09:35:30 AM
Post by: Blindsquirrel on April 10, 2020, 08:07:15 PM
Post by: hybrid on April 12, 2020, 08:25:53 PM
Post by: Linea_Norway on April 13, 2020, 12:44:54 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/??/20 or later 20 Beeboy (@46)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE
04/02/20 CptCool
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
04/??/20 Pennycounter
04/??/20 or later 20 robtown
04/??/20 - 07/??/20 JoJo
05/01/20 Fresh Bread's husband
05/08/20 rab-bit CONFIRMEF
05/15/20 BeanCounter
05/15/20 Lucky13 (@44)
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 Given notice
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/01/20 texxan1
06/05/20 thelyon19
06/05/20 (or April) rab-bit (@59)
06/16/20 Kteach Given notice
06/15/20 BigHaus89
06/??/20 aspiringnomad (@37) Given notice
06/??/20 Farmgirl (@61)
06/??/20 ixtap (date uncertain)
06/??/20 myobjectivism Given Notice
07/01/20 FireLane (@38)
07/??/20 JoJo
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) Given notice
08/??/20 or 2021 Bateaux
09/01/20 rab-bit's wife
09/25/20 apurplelife
09/30/20 MarcherLady
09/??/20 Dan23
10/15/20 Unique User (@50)
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/10/20 exit2019
11/20/20 Alternatepriorities
11/30/20 Itchyfeet
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 bownyboy
To be decided:
tipster350
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: Linea_Norway on April 13, 2020, 12:45:50 AM
A little late to the crowd, but I am in! Wednesday, 4/15 is my last full time day. I will likely do a little work here and there as a part-timer, but we are FIRE as of this week...
Congrats. Nice that you dare, despite the market plunge.
Post by: JoJo on April 15, 2020, 10:14:04 AM
Post by: rab-bit on April 16, 2020, 11:36:10 AM
I had been planning on giving my notice next week, but now having second thoughts. We have moved into our retirement home but have had no luck so far selling our old home and I'm worried that buyers will start getting scared. We may end up having to rent it out for a while if we can't sell it.
The new plan is to take it month-by-month. If we accept an offer for the old home and things start to calm down a little with the virus and the markets, then I'll pull the trigger. But there are just too many unknowns right now.
When I was 5 years old, my parents were in this situation, bought a bigger house and couldn't sell their previous for two years. That was an economic challenge for them. Renting it helped a bit, but they lost money in total. I hope your situation will be better.
Good news for us, we accepted an offer on our townhouse this morning! I have the feeling that we may have gotten lucky selling now before the economic effects of this virus fully impact the real estate market. Our buyers seem solid, so hopefully they won't have any trouble getting a mortgage and won't get scared or lose their jobs.
We were also invested pretty conservatively in preparation for retirement so we're fortunate that our stash has declined "only" about 13% so far. I have been rebalancing and gradually increasing our equity exposure as the market has declined, so hopefully that will pay off later on.
The townhouse sale is a huge relief for us so I now plan to give my notice in mid-April with an expected last day of work on May 8th. The dream is still alive!
Well, I did it! Submitted my resignation this morning, last day of work will be May 8th!
I have to admit that I'm nervous and excited at the same time. But the stash has come back nicely over the last few weeks (we're now down about 7.2% from the February peak) and we were also lucky enough to accept an offer on our old home in mid-March, just as everything was shutting down (closing should be next week).
Still, it seems especially bizarre to be quitting my job voluntarily while so many people are losing theirs involuntarily.
Anyway, we're looking forward to the next phase. DW will still be working about 8 days per month until September, but after that, we should both be totally free.
Post by: Trifle on April 16, 2020, 12:35:04 PM
Well, I did it! Submitted my resignation this morning, last day of work will be May 8th!
Congratulations!!
Post by: ysette9 on April 16, 2020, 08:38:14 PM
It is an odd tone to be quitting. I appreciate that we have a cohort here of weirdos to share the unique experience with.
Post by: Linea_Norway on April 17, 2020, 05:07:40 AM
Post by: Much Fishing to Do on April 17, 2020, 06:45:57 AM
After the weekend we will go in a week road trip to look at rental properties. I really hope we can rent something acceptable from June, so that we have a month overlap to move and that we can make definite plans. Now I am restless as we are in a sort of limbo state, not knowing where to go and need to move out at first of July. Luckily we are not forbidden to travel because of Corona, only discouraged from leisure travel. Ours is not leisure, but necessary travel.
Good Luck! I know this is a tough time to be doing this, but I have think there are some opportunities out there as well. Where I live is an exaggeration of these opportunities (a place where college students/families have left and so thousands of places are sitting available, and many tenants did not pay rent for last month, so anyone who would be willing to take an empty place and pay the first few months upfront could get some very good deals right now.
Post by: Much Fishing to Do on April 23, 2020, 08:00:22 AM
I had May 1 chosen, but so far this year (even before the virus issues) the amount of work for me and thus my hours have really dropped (from about 25/wk to now closer to 10/wk), and given I work from home anyway it doesn't take much effort beyond those 10. I do like having some work as opposed to none (esp. with no travel plans for now), and its a great hourly rate so I make just about enough at that hourly pace to cover my expenses, so I'm probably going to keep doing this as long as it stays this easy. My SWR with the market drop has gone from 3.9 to 4.5, so though I've never been very strict about needing to be below 4 (Its all using my FATFire number, so there is definitely fat that can be cut if ever needed) that probably suggests this a good path as well for now.
I've been gradually moving tasks to my direct report, who will take my position when I leave, so that'll probably help me be able to keep hours down as well going forward (with all work down for now she appreciates the hours). Being available for what's needed whenever with a little bit of a heads up, being used to working from home for years, and only being paid for the hours I work, I guess all makes me a perfect employee in times like this so I would think my job as it is is secure, and no big deal if its not.
Post by: Indio on April 23, 2020, 08:09:15 AM
With 2 high school students, I was suffering from OMY until I had a good idea of how much college would cost and didn't want to have huge out of pocket healthcare. Now I'm part of the 4.4M unemployed from last week and researching healthcare plans while figuring out what RE will look like for me.
Post by: Trifle on April 23, 2020, 09:56:58 AM
I'm officially part of the 2020 FIRE cohort. Last week the decision was made for me.
With 2 high school students, I was suffering from OMY until I had a good idea of how much college would cost and didn't want to have huge out of pocket healthcare. Now I'm part of the 4.4M unemployed from last week and researching healthcare plans while figuring out what RE will look like for me.
Wow, @Indio! Big news. Congrats, although I imagine it's complicated.
Post by: Body Surfer on April 23, 2020, 11:23:04 AM
Post by: Unique User on April 24, 2020, 08:14:01 AM
Post by: Linea_Norway on April 24, 2020, 01:47:17 PM
@ CptCool
@ Ottawa
@ DreamFIRE
@ Pennycounter
How are you all doing? Are any of you confirmed FIRED?
@ aspiringnomad
You had your last day today, right? Congrats. Enjoy the firstcoming Monday as your first Monday that you don't have to get up early.
@ Indio
Welcome.
Post by: aspiringnomad on April 24, 2020, 04:36:55 PM
@ aspiringnomad
You had your last day today, right? Congrats. Enjoy the firstcoming Monday as your first Monday that you don't have to get up early.
Nope, I've been extended at least through May. My last day is now probably sometime in June, hopefully at which point travel and other restrictions will have lifted a bit.
Post by: Body Surfer on May 01, 2020, 09:27:21 AM
Hope you are all feeling/doing well
Post by: CrazyIT on May 01, 2020, 01:54:49 PM
Wow- May is finally here. May 2020 has had significant meaning in our family for over a decade. Retire May 22. Three weeks from now yet it still does not seem like reality probably because of the busyness and disruptions of life (thanks nightmare virus). The virus positive- if there is one- Been home-based working since Mid-March which has been a nice transition to retirement.
Hope you are all feeling/doing well
Congrats Body Surfer!
I remember the last few weeks of work seeming to drag on and on. lol (hope that's not the case for you)
6 Weeks FIRE for me. Longest I have ever gone without working by far. Still trying to find my way with ER (virus has restricted me from doing several things) but don't have any complaints.
Post by: Much Fishing to Do on May 01, 2020, 01:59:10 PM
Wow- May is finally here. May 2020 has had significant meaning in our family for over a decade. Retire May 22. Three weeks from now yet it still does not seem like reality probably because of the busyness and disruptions of life (thanks nightmare virus). The virus positive- if there is one- Been home-based working since Mid-March which has been a nice transition to retirement.
Hope you are all feeling/doing well
Wow, your actual exact retirement date has held for over a decade. You've got some serious planning skills (or maybe a pension that hits on that day?). Impressive.
Post by: PhilB on May 03, 2020, 03:41:04 AM
I guess I should have my status changed to whatever best fits.I've been following something very close to this path since I FIREd in Oct 2018. I hadn't planned to, but I too have been averaging about 10 hours a week, all WFH, and just about covering our expenses rather than having to draw anything from the stash. If it doesn't get in the way of other things (or come with too much corporate bullshit) then it can be a pretty sweet deal.
I had May 1 chosen, but so far this year (even before the virus issues) the amount of work for me and thus my hours have really dropped (from about 25/wk to now closer to 10/wk), and given I work from home anyway it doesn't take much effort beyond those 10. I do like having some work as opposed to none (esp. with no travel plans for now), and its a great hourly rate so I make just about enough at that hourly pace to cover my expenses, so I'm probably going to keep doing this as long as it stays this easy. My SWR with the market drop has gone from 3.9 to 4.5, so though I've never been very strict about needing to be below 4 (Its all using my FATFire number, so there is definitely fat that can be cut if ever needed) that probably suggests this a good path as well for now.
I've been gradually moving tasks to my direct report, who will take my position when I leave, so that'll probably help me be able to keep hours down as well going forward (with all work down for now she appreciates the hours). Being available for what's needed whenever with a little bit of a heads up, being used to working from home for years, and only being paid for the hours I work, I guess all makes me a perfect employee in times like this so I would think my job as it is is secure, and no big deal if its not.
My hat is off to all those pulling the plug in the current turmoil. Balls of steel. I salute you.
Post by: myobjectivism on May 03, 2020, 09:31:02 AM
Because of Covid, I am moving retirement to next month June (decision is not from me but from my employer). Will keep sharing my experiences of new lifestyle in this forum.
I found this site just few days back and I am hooked to it. Very useful information from everyone in this community. Thank you.
Post by: Linea_Norway on May 03, 2020, 09:46:29 AM
Hi.. I decided to retire in May 2020 (planned 9 months back in 2019) and gave notice period too in the company.
Because of Covid, I am moving retirement to next month June (decision is not from me but from my employer). Will keep sharing my experiences of new lifestyle in this forum.
I found this site just few days back and I am hooked to it. Very useful information from everyone in this community. Thank you.
Welcome to the cohort.
It sounds like you figured out your FIRE number by yourself and then found the site. That is well done. I had no clue at all before I read the 25 x yearly expenses rule on this site.
Post by: myobjectivism on May 03, 2020, 12:39:48 PM
1. Few years back, I approached financial advisor to find out how to diversify my money in investments but not with the our to retire early. I am from India and retiring early is very very rare and most of the people like me didn't hear about that concept.
2. One year back, my ex-colleague of my age (around 42 last year) retired and moved to countryside to live.
3. At that time, I started researching but I don't want to compromise on existing lifestyle and thought to continue for some more time and make decision.
4. As per calculations, I made a decision 9 months back and now about to start FIRE lifestyle in few weeks.
Post by: Loren Ver on May 03, 2020, 06:52:18 PM
Love it.
Keep up the good work!
Loren
Post by: 2sk22 on May 07, 2020, 07:36:40 AM
As such, I don't really need the money and could quit at any time. It's only a sense of obligation that holding me back from quitting. I'm in a wait-and-see mode. Hopefully, things will stabilize later in the year and I can retire with a clear conscience.
Post by: Much Fishing to Do on May 07, 2020, 09:27:17 AM
It's only a sense of obligation that holding me back from quitting. I'm in a wait-and-see mode. Hopefully, things will stabilize later in the year and I can retire with a clear conscience.
Sounds familiar. Congrats either way as that's pretty darn close to being FIREd, as you'll certainly be doing stuff you feel obligated to do for reasons other than money for the rest of your life (charity, family, community, etc)
Post by: Dee18 on May 07, 2020, 11:57:32 AM
Post by: JoJo on May 07, 2020, 12:17:07 PM
An update on my situation, CEO just announced we are all working remote for "at least 90 days"... I was hoping to retire after we could return to the office, and like Dee18, not sure what to do if I did quit as travel was my previous plan. I might actually go stay with my parents for awhile and work remote.
Post by: Linea_Norway on May 07, 2020, 02:33:30 PM
I submitted my official retirement request yesterday with the last day of employment as May 31. I do have some mixed feelings. There is a bit of "what am I going to do right away" since I have cancelled travel plans and a bit of "whoa, that retirement account is looking a bit light compared to where it was a few months ago," but mostly I am grateful that I have been on the MMM path and can retire on the scheduled date.
Congrats on giving notice and being cool on your (temporary) lower stocks.
Post by: Lucky13 on May 12, 2020, 09:59:27 AM
Post by: Body Surfer on May 15, 2020, 08:04:43 AM
Post by: Body Surfer on May 21, 2020, 05:12:21 PM
Well...time for the next phase of life.
Thanks to many of you who have provided much wisdom to me.
Post by: LostGirl on May 21, 2020, 06:42:08 PM
As for me, I transition to part-time this month. It's anti-climactic with the quarantine but still better than working full time. I'm planning to ride it out as well and see if I can transition to part-time after this ends. As a parent with school age children, I still can't go back to the office and when the shelter in place is lifted because there are no child care options.
Covet 19 has changed everything, but another factor that's pushing my date is that we are closing on another rental property this month. I wanted to retain my income for more that mortgage until that property closes. I am feeling less tied to my job and more tied to my family, so we will see how this progresses.
Post by: Linea_Norway on May 22, 2020, 01:27:30 AM
Retired a day early. Many staff members drove by the house a few times honking their horns and gave me a retirement gift. I haven't seen these fine folks since early March as we have all been working from home. Unexpected but fun lol.
Well...time for the next phase of life.
Thanks to many of you who have provided much wisdom to me.
Congrats on being retired and daring to take the plunge under current circumstances. Nice that your staff members made a supportive gesture.
Post by: Ottawa on May 22, 2020, 09:40:32 AM
So, am currently getting paid to stay at home. I will monitor how things are going, then when it looks like we're going back to work - I will give notice and take 8 weeks vacation! Kind of fortune telling..but - my guess is that it will correlate with summer ending. In Ontario, school is done for this year and over night summer camps are all cancelled for the kids. So, I'm sure the Minister of Education et al will be working hard on a plan to restart school in Sept. This will allow parents to also go back to work.
Post by: bownyboy on May 23, 2020, 02:51:02 AM
The big global experiment that is working from home since 16th March has really focused my mind on what it would be like to retire.
After 22 years of daily commuting on trains, buses and tubes there is no way in hell that I’m going back to that rat race.
I’ve been contracting in IT for the last few years which has helped massively to accelerate the stash for FIRE. My current contract finishes 18th August. It may get extended until December. Either way, I’ve decided to pull the plug this year!
Still can’t quite believe it after many years of reviewing my spreadsheets and imaging the day I just stop! This forum has been a great inspiration and support along the way.
Post by: Linea_Norway on May 23, 2020, 03:43:46 AM
Hello from the UK!
The big global experiment that is working from home since 16th March has really focused my mind on what it would be like to retire.
After 22 years of daily commuting on trains, buses and tubes there is no way in hell that I’m going back to that rat race.
I’ve been contracting in IT for the last few years which has helped massively to accelerate the stash for FIRE. My current contract finishes 18th August. It may get extended until December. Either way, I’ve decided to pull the plug this year!
Still can’t quite believe it after many years of reviewing my spreadsheets and imaging the day I just stop! This forum has been a great inspiration and support along the way.
Welcome. Tough to make this decision and espesially be ause of the corona crisis.
I have heard of others have don't miss their 1,5 hour commute at all and would like to work from home all the time.
Post by: rab-bit on May 23, 2020, 06:15:23 AM
I had been planning on giving my notice next week, but now having second thoughts. We have moved into our retirement home but have had no luck so far selling our old home and I'm worried that buyers will start getting scared. We may end up having to rent it out for a while if we can't sell it.
The new plan is to take it month-by-month. If we accept an offer for the old home and things start to calm down a little with the virus and the markets, then I'll pull the trigger. But there are just too many unknowns right now.
When I was 5 years old, my parents were in this situation, bought a bigger house and couldn't sell their previous for two years. That was an economic challenge for them. Renting it helped a bit, but they lost money in total. I hope your situation will be better.
Good news for us, we accepted an offer on our townhouse this morning! I have the feeling that we may have gotten lucky selling now before the economic effects of this virus fully impact the real estate market. Our buyers seem solid, so hopefully they won't have any trouble getting a mortgage and won't get scared or lose their jobs.
We were also invested pretty conservatively in preparation for retirement so we're fortunate that our stash has declined "only" about 13% so far. I have been rebalancing and gradually increasing our equity exposure as the market has declined, so hopefully that will pay off later on.
The townhouse sale is a huge relief for us so I now plan to give my notice in mid-April with an expected last day of work on May 8th. The dream is still alive!
Well, I did it! Submitted my resignation this morning, last day of work will be May 8th!
I have to admit that I'm nervous and excited at the same time. But the stash has come back nicely over the last few weeks (we're now down about 7.2% from the February peak) and we were also lucky enough to accept an offer on our old home in mid-March, just as everything was shutting down (closing should be next week).
Still, it seems especially bizarre to be quitting my job voluntarily while so many people are losing theirs involuntarily.
Anyway, we're looking forward to the next phase. DW will still be working about 8 days per month until September, but after that, we should both be totally free.
I can confirm that my last day of work was May 8th. We closed on the sale of our old home on May 4th and we've been working on bathroom renovations in our new condo. Other than that, I plan to take it easy, enjoying the nice spring and summer weather while thinking about some other projects that I might want to start in the fall. There is also a possibility of doing some consulting for my now former employer and I would consider that as long as it doesn't take up too much of my time.
Congratulations and best wishes to all of the current and future 2020 cohort retirees!
Post by: Body Surfer on May 23, 2020, 09:23:54 AM
Post by: ixtap on May 23, 2020, 09:28:33 AM
yes, I agree with you folks- WFH has been an interesting working dynamic helping prep folks toward RE. Easier to visualize what RE is like.
If I thought this were early retirement, I wouldn't be pursuing it.
Post by: ysette9 on May 23, 2020, 06:48:58 PM
No kidding. If this were FIRE I would keep working until all the kids were in school. This is so much harder than working.yes, I agree with you folks- WFH has been an interesting working dynamic helping prep folks toward RE. Easier to visualize what RE is like.
If I thought this were early retirement, I wouldn't be pursuing it.
Post by: Linea_Norway on May 24, 2020, 08:04:24 AM
No kidding. If this were FIRE I would keep working until all the kids were in school. This is so much harder than working.yes, I agree with you folks- WFH has been an interesting working dynamic helping prep folks toward RE. Easier to visualize what RE is like.
If I thought this were early retirement, I wouldn't be pursuing it.
Yes, my FIRE was planned to all about making outdoor trips. We started the season with staying at home because of symptoms. Then came a law that forbidbus to stay in our mountain cabin during the skiing season. Then campsites are closed for tents (no toilets and showers available). North Norway was closed for visitors from the south. We cannot and don't to go cycling through Europe this year. Europe has become even more expensive for us, because of corona valuta changes. All things that were unexpected and not what I imagined.
When I would have had to work from home, work would have been so much better. I mostly hated the open office plan and the noise that came with it. But also a lot of other aspects that would have continued during work from home. Like scrum meetings and too many input channels for disturbances (phone, email, skype, pidgin, windows 10 groups, automatic copy of support cases that a customer ligs). That aspect of FIRE is much better. I still get disturbances by mail, sms, phone and post, but at least not about work.
Post by: Body Surfer on May 26, 2020, 07:33:16 AM
No kidding. If this were FIRE I would keep working until all the kids were in school. This is so much harder than working.yes, I agree with you folks- WFH has been an interesting working dynamic helping prep folks toward RE. Easier to visualize what RE is like.
If I thought this were early retirement, I wouldn't be pursuing it.
Yes, my FIRE was planned to all about making outdoor trips. We started the season with staying at home because of symptoms. Then came a law that forbidbus to stay in our mountain cabin during the skiing season. Then campsites are closed for tents (no toilets and showers available). North Norway was closed for visitors from the south. We cannot and don't to go cycling through Europe this year. Europe has become even more expensive for us, because of corona valuta changes. All things that were unexpected and not what I imagined.
When I would have had to work from home, work would have been so much better. I mostly hated the open office plan and the noise that came with it. But also a lot of other aspects that would have continued during work from home. Like scrum meetings and too many input channels for disturbances (phone, email, skype, pidgin, windows 10 groups, automatic copy of support cases that a customer ligs). That aspect of FIRE is much better. I still get disturbances by mail, sms, phone and post, but at least not about work.
Linea: sorry about all these negative changes. I understand what you are experiencing. I just retired, and so many events that were planned are changed or modified. For instance, we had to cancel DW's birthday celebration with our kids coming home. We will still go on our vacations, but won't eat out or go to craft breweries while there which is very disappointing- just to name of few of the negative changes. Canceled retirement get-to-togethers too.
Post by: Maenad on May 26, 2020, 07:40:01 AM
We've been keeping our spending down a bit, and are relying on the cash cushion we'd built up for some major purchases this year (which are being deferred). Our current spending rate is somewhere between 3.25% and 3.5%, so we should be able to pull through this, assuming it doesn't get much worse. And if it does, we'll adjust.
Post by: texxan1 on May 26, 2020, 05:50:12 PM
Working from home now, 20 hours per week getting full Global rotational pay so its ALL GOOD.
back abroad once planes start flying again... Come on VISA lol
Tex
Post by: Body Surfer on May 27, 2020, 01:13:16 PM
my plan was to retire june 1, but with the looming immigration hold. My fiance can not get her K1 visa yet till things open up... SO i am holding off until she gets her visa.... so hoping to still be in the 2020 pool... No reason to leave until she arrives in the states....
Working from home now, 20 hours per week getting full Global rotational pay so its ALL GOOD.
back abroad once planes start flying again... Come on VISA lol
Tex
Where is your fiance from?
Post by: texxan1 on May 27, 2020, 08:43:45 PM
Post by: Bateaux on May 28, 2020, 06:18:47 AM
Post by: Linea_Norway on May 28, 2020, 09:46:22 AM
We're well beyond our minimum to FIRE which is 2 million not including real estate. But, there is just too much unknown. Still hoping to FIRE in early 2021. Which may equate to no actual work in 2021. I'll have two months of vacation available come January first. I'll count that as 2020 if only using vacation time in 2021. Maybe some better outlook will come by then.
Then I'll change your date to December 12, 2020.
Post by: Linea_Norway on May 28, 2020, 09:48:50 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/02/20 CptCool
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/15/20 Lucky13 (@44)
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 Albireo13 (@64)
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter job discontinued
06/??/20 ixtap (date uncertain)
06/??/20 myobjectivism Given Notice
07/??/20 JoJo
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 2sk22
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) Given notice
09/01/20 rab-bit's wife
09/25/20 apurplelife
09/30/20 MarcherLady
09/30/20 Fresh Bread's husband
09/??/20 Farmgirl (@61)
09/??/20 Dan23
09/??/20 BeanCounter @42
10/15/20 Unique User (@50)
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/10/20 exit2019
11/20/20 Alternatepriorities
11/30/20 Itchyfeet
12/01/20 FireLane (@38)
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 texxan1
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 bownyboy
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
tipster350
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: MarcherLady on May 28, 2020, 10:38:19 AM
Post by: aspiringnomad on May 28, 2020, 01:31:48 PM
Post by: Linea_Norway on May 28, 2020, 11:43:58 PM
did any of you FIRE or delay to a later time?
@Fresh Bread , did your husband FIRE?
Post by: rab-bit on May 29, 2020, 06:09:42 AM
Post by: Farmgirl on May 29, 2020, 09:03:05 AM
I do my work, keep the garden weeded, tend to the critters, work on my quilts, work some more, then do stuff I want to do again. I seriously doubt this could continue long term. Even just this little time working from home has been a stretch for my employer's way of doing things. Very old school.
I do have a phone interview with Social Security on June 19 to start benefits in October.
So I'm sitting tight for now!
Post by: BeanCounter on May 29, 2020, 09:11:39 AM
I was planning for May 15. Then the pandemic happened. I tried to get furloughed or even severed. They asked me to stay. And since working from home means I get more time with my kids and husband, and there isn't much to go do anyway, I might as well keep pulling in the $2k a week.
I'm now shooting for Sept at age 42. I'm hoping to find some part time accounting or tax work to help ease some of the COVID volatility that is yet to come.
Post by: FireLane on May 29, 2020, 06:26:24 PM
Today we regained and exceeded our highest Pre-COVID valuation. I'm still planning to wait until the autumn before I FIRE, to have more information and build a bit more of a cushion to protect against the next waves that are sure to come. I feel happy with my asset allocation and global diversification, they behaved well and have rebounded quickly.
I feel the same way. I'm not past my highest pre-COVID valuation, but I'm surprisingly close to my all-time high.
But I have trouble believing that this rapid recovery is built on anything substantial. I think it's likely that there'll be more waves of the virus and possibly a double-dip crash as the extent of the economic damage sinks in. I want to wait and see for a few months, and it can't hurt to have more of a buffer, so I'm moving my date to December 1.
Post by: Fresh Bread on May 29, 2020, 09:01:19 PM
@Fresh Bread , did your husband FIRE?
No, it's end of September now. What can I say, he likes building up the pot of money.
Post by: Body Surfer on May 30, 2020, 02:49:51 PM
Post by: Dee18 on June 01, 2020, 03:55:55 PM
Post by: Padonak on June 01, 2020, 04:17:40 PM
Post by: JoJo on June 01, 2020, 06:16:59 PM
Post by: ysette9 on June 01, 2020, 08:05:03 PM
Linea, Thanks for maintaining the list. You can mark me "confirmed" as today is the first day of my retirement. I am still receiving emails from the university and it was delightful today to disregard the suggested online training to prepare for the complex fall semester plans. Sitting on the patio (8 feet away) at a friend's house and having a celebratory glass of champagne was much nicer way to spend the afternoon.Fantastic. Congrats
Post by: Linea_Norway on June 02, 2020, 08:57:25 AM
Have you FIREd or do you want to work a bit longer?
Post by: Linea_Norway on June 03, 2020, 07:06:26 AM
I always love reading other people's stories about FIRE, so I thought I'd share what mine has been like over the past 4 months since leaving my job. I like to talk, so this will probably be long, fair warning! (Not sure if this matters but I'm a single mom of 3 kids (2 are adults) in my mid 40's)
Leaving Work
I left my job on February 4th, 2020 after becoming completely, totally crispy fried and burnt out. I was about as close to having enough money to FIRE as I thought I could get without going insane, so I decided it was worth my mental (and physical) health to get out of there before I completely melted down. (I managed a 911 dispatch center and had been there for 15 years and although I loved the job in so many ways, I was tired of being the public's punching bag, and was tired of being on call every stinking minute of my life!) Giving my notice was by far the scariest part. I stressed so much over the fact that I was "leaving my people" behind and what would they EVER do without me, how could they manage, this was such a betrayal! HAH! How wrong I was! If I can impart any wisdom to anyone...here it is. They can do without you, they WILL replace you, they will get along, it will be FINE. Live your life for you. That's the advice I had to give myself and I'm so glad I took that advice because here I am 4 months later, with no panic attacks, no work stress, it's great! Anyway, after giving notice, I only had to deal with 2 weeks worth of questions from EVERYONE...Why are you leaving? What will you do next? That part was hard for me because I really didn't want to tell anyone anything but people want to know! At first I said I was keeping my future endeavors to myself...people didn't like that. They wanted to know! When I gave my notice, I told my boss I was leaving for a new opportunity...I didn't mention that the opportunity was to do whatever the hell I wanted and not work! Eventually I just said I was taking some time off to spend with my family because 2 of my kids would be moving on to their adult lives this year and I didn't want to spend the last few months I had with them stuck at work for 12-14 hours a day. Thankfully the 2 weeks ended and I had my last day of work, which was kind of emotional because all of the people I had worked with for the last 15 years did a final call for me over the police radio, all saying goodbye and thanking me for my service. It was very sweet and unexpected but it didn't stop me from running right out of that building like my ass was on fire! I can laugh about it now, but after getting home from work on my last day, I got a text from the interim manager asking if I could possibly work a shift tomorrow since someone had called in sick. HAHAHAHAH, NO! No, I could not! I just quit this job, remember? Somehow they managed.
First few weeks after FIRE'ing
For the first few weeks after leaving work, I woke up super early. Like 4:30 to 5:00am. I didn't have anywhere to be so I tried to learn how to sleep in. That didn't really work, so I just went with it and figured at some point, I might start waking up later. I went to the gym almost every day, sometimes twice a day. I wanted to lose weight, but somehow it wasn't really working. Maybe I forgot about the eating less part of losing weight, haha! The transition was a little difficult. I think I was still stuck in the mindset that I should be working or doing something with my life. Or that I thought someone might tell me that I should be working or judge me and that I would have to find a way to defend my choices. I know that people always say you should retire TO something rather than AWAY from something, but hey, these were my circumstances and I was doing the best I could. My big plan was to buy a truck and a small travel trailer and get out and explore, and this was going to be easy because summer was coming and I'd only have one kid left at home, so coordinating all of this would be easy, right? During those first few weeks (and even now) I was also feeling some guilt. Not some...a lot of guilt. I had saved money for a long time, but a good portion of my money came from an inheritance from my parents who had died within the last few years. I was really struggling with what a jerk I was being for just using that money to live off of when they were dead and couldn't enjoy it for themselves. They both had retired and died almost immediately after retiring. It was so heartbreaking to know that they couldn't go on any more cruises, no more fun trips...they worked all their lives and it ended so abruptly. I had nightmares every night, in fact, I still do, but not quite as frequently. My recurring nightmare is that one or both of my parents somehow come back to life and I had to scramble to explain that I had sold their house and give back their money and explain why I had it and why I was so selfish to think I could use that money to live on when they needed it. It's still something I struggle with, but I am doing what I think is right for me and my family and I can only hope they would think that what I'm doing is good. Ok, Enough sad stuff...
How quickly plans change!
I was just starting to think I could settle in to being fired, started making plans to go camping and have adventures, carefully watching my budget, when I started hearing rumblings of a pandemic. I usually don't get too worked up about things but around the first week of March I felt like this would be a big deal, so I went out and spent about $1,000 on groceries. During that week my next door neighbor moved out and left a perfectly good fridge outside his house for free, so I snagged that and filled it up too. During this time, my daughter's college boyfriend was in town visiting her from his Cruise line job and they got engaged. Super exciting time! When he was scheduled to go back to work, they told him not to come and he ended up losing his job, so now I had an extra person living with us and another mouth to feed. My budget was blown instantly...I stocked up on food, medicine, anything I could think of in case things went bad, but I was grateful to have the money to do this and happy that I didn't have to go to work during scary times. It didn't take long for my oldest daughter to lose her job and suddenly nobody in the household had a job. Now I was supporting a household of 5 people and I was getting nervous, especially when the stock market took the first big hit. I didn't allow myself to look at my accounts, knowing it would make me sick and scared, so I just decided that I had enough money and we would be ok. This strategy proved to be effective. If I've learned anything from here it's to set your plan and stick with it, if you set it up right, outside influences shouldn't effect you much. Live frugally and you should always have enough. That about sums it up...even though the pandemic stock market hit initially set me back about $95k, I'm now back to within about $4k of where I was at when I fired. I'm soooo glad the pandemic happened a month after I FIRE'd though because I am not sure I would have had the guts to leave knowing my investments were losing so much money. Pandemic living has evened out here. At first it was hard having an extra person living with us, but after some time, we have adjusted, and I think it probably has brought us all closer together. I'm glad I got to spend this time with my daughter and her fiance before they move away this summer, I feel that it has made our bond stronger for the future, and for that I am grateful.
Money, bills, health insurance, oh my!
As soon as I left work, I got to work on getting health insurance. I decided that no matter what, I was not going without insurance, I've seen too many people get into deep doo doo because they didn't have it and I didn't want to get some terrible illness or injury and wipe out my savings. I ended up getting no subsidies on the marketplace because I qualified for Medicaid. I didn't want Medicaid and didn't feel I needed to be on that so I went ahead and purchased my own insurance for about $350/ month. I hated that it cost that much but a lot of docs do not take Medicaid around here so I decided to buy the insurance. Peace of mind is what I really bought, and that is ok with me. I have to say it's really weird to not have a paycheck hit my account every month. I've been using credit cards to pay bills so that I get the points from the cards. I don't really like this method though, and I think this month I will just go back to paying cash for things. Having to pay the credit card balance off every month is not a huge deal but I don't like the idea of owing anybody anything. It's unnatural to me and doesn't feel good, even with the tiny perks I get from the cards. I also think I spend a bit more knowing I'm using a credit card. All in all though, I don't have many bills and even though the pandemic hurt my budget for a little while, it's not near as bad as I thought it would be. I wanted to track everything so I could say, oh, I spent this much on food and this much on this or that, but it's become exhausting. I know myself and I know I am careful with money so even though I have a general idea of what goes out every month, I don't obsess over my budget like I used to. It just became too exhausting to worry about it.
Fun!
As spring approached and the weather got better, all I could think about was having fun outside! I love warm weather and couldn't wait to get out on the water with my paddle board. Wanting to have fun is usually what makes me spend the most money. This time was no exception. I sat here in my living room thinking of all the fun I'd like to have on the lake and realized I wanted a new toy! An inflatable paddle board. I did tons of research and found a really good one and knew I had to have it, an inflatable fits in my car so easily, so it is so much better than a hard board that you have to strap on top of your car. After I bought the board, I realized I needed an electric pump...and a cooler...and a special quick drying towel...and a waterproof phone case...and another cooler. I could see myself quickly getting out of control so I decided to stop spending money and just be happy with this toy! If I let myself, I would keep finding new cool things to buy, so it was time to nip it in the bud! Not long after that, I decided I wanted to build a shed in my backyard with my son. Neither of us have a clue what we are doing, but I bought plans for the shed, bought the wood, borrowed some tools and we went to town. The shed is still in progress, but we are learning a lot...mostly what not to do with things like nail guns. Needless to say, safety is first and foremost in our minds after the nail gun incident of 2020, when my son's pinky got nicked with a nail. Whoops! I am not sure if I am not doing much outside the house because of the pandemic or because I am more of a homebody. It's hard to tell. But I end up spending a lot of time in my comfy chair in the backyard, watching the butterflies, birds and squirrels, sprucing things up, watching the fire in the fire pit and grilling food. I spend at least an hour every day studying the Korean language, it's something I learned back in my Army days and I try not to lose that knowledge. It's only recently that I have had the time to study, and it's nice to be able to understand it. I meet up with one or two friends on occasion and we typically just talk and eat or go hang out at the lake and fish. I can't say I've done anything terribly exciting, but again, this is during an odd time. Nothing is normal during a pandemic, I guess.
Future plans
On occasion I will think about getting a job, maybe something part time, just for fun. I did commit to not working for at least one year to really give myself a chance to just chill and find out what I'm all about, so I'm not going to think about that too much until next year. If my youngest daughter is not able to get scholarships for college, I may consider going to work at the University in a couple years to get a discount for her. We shall see. But mostly what I think about is how awesome it is to not have answer to a boss or a schedule and how can I keep doing this for as long as possible. If that means working sometimes to keep from depleting my stash (stache?) I can manage that. But full time work, I don't know if I can ever stomach that again.
Goals
My biggest goal was to lose weight and improve my health, and I'm happy to report that I have finally figured out what works for me and I've lost 20 pounds since February. My gym has reopened and I'm so happy to get back there to see people and socialize and workout and just finally be able to have more options to focus on my overall well being. I feel like removing the stress of work has helped me be better able to plan meals, shop, cook more often (almost never go out to eat now), and just be available to focus on feeling good and doing good things for myself. Everybody in my family benefits when I am doing well and it has been soooo worth it to put effort into me for once.
Friends, Connections, etc.
I've always been kind of on the fence about social media. At times I find it strange, the things people will post, the humble bragging, the dirty laundry being aired, the cattiness, back biting, I don't really like it. However, it seems there has been a huge shift in the way people deal with each other and not having a social media account has kind of made it where I'm obsolete with a good portion of my friends. I seem to get left out of a lot of things. I always wonder if I should try to use it again, make a facebook account, so I can better connect with people, but I remember how it was the last time I used it about 5 years ago and I didn't like how you could so easily post something to someone, but not really get more in depth with them, and I don't want to have that superficial type of thing with people again. It's food for thought. I have a few best friends that I talk to frequently and that is satisfying, so maybe one doesn't need social media at all.
After having been FIRE'd for 4 months, I can safely say, I like it. I don't need to be defined by a job. I don't need to impress other people or conform to how they think I should live. If I am able to I would like to continue this lifestyle and I'll continue to find ways to hang on to it. I wish I had figured out a way to do it sooner. I love that the possibilities are endless and if there's something I want to do, I can probably figure out a way to make it happen. I highly recommend this and wish I could convince everyone I know to do the same! Thanks for reading my long long long story! :)
Post by: exit2019 on June 04, 2020, 10:05:59 PM
Latest action is a no-strings-attached title change and comp package, which, unfortunately, will not vest for a year (well, a year after the next board meeting where the grant will be issued). I am still on track for November, so I won't be around to see it. I am moody and visibly unhappy and routinely make jokes on calls about various ridiculous and incompetent aspects of the company.
It bothers me more than a little bit that the more I telegraph my done-with-this-place-ness, the more they go out of their way to try and get me to change my mind, while the company itself is planning layoffs. Even if it is true that the budget for retention comes from a central budget that is not involved in layoff calculations, that isn't true for my base compensation, and the fact that a bunch of people are getting cut is giving me a complex.
That plus the senioritis is insane.
Post by: FlytilFIRE on June 05, 2020, 11:15:11 AM
@Nifty , @RetireAbroadAt35 , @FInding_peace , @FlytilFIRE , @CptCool , @Ottawa , @DreamFIRE , @Pennycounter ,
did any of you FIRE or delay to a later time?
@Fresh Bread , did your husband FIRE?
Linea, I'm done. Mark me CONFIRMED! Thanks.
Post by: Linea_Norway on June 05, 2020, 12:29:30 PM
@Nifty , @RetireAbroadAt35 , @FInding_peace , @FlytilFIRE , @CptCool , @Ottawa , @DreamFIRE , @Pennycounter ,
did any of you FIRE or delay to a later time?
@Fresh Bread , did your husband FIRE?
Linea, I'm done. Mark me CONFIRMED! Thanks.
Congratulations!
Post by: ysette9 on June 05, 2020, 08:15:12 PM
Post by: rab-bit on June 05, 2020, 08:30:58 PM
Anyone else thinking that this stock market is kinda crazy? Our retirement account balances are now at an all time high less than two months after the Covid-19 shutdowns began. Not that I'm complaining...
Post by: BlueMR2 on June 08, 2020, 02:43:12 PM
Yes, congratulations @Dee18 and @FlytilFIRE!
Anyone else thinking that this stock market is kinda crazy? Our retirement account balances are now at an all time high less than two months after the Covid-19 shutdowns began. Not that I'm complaining...
Nice recovery!
We're still down 7.5% from peak and have still been contributing during this time.
Post by: Freedomin5 on June 08, 2020, 04:06:18 PM
I have to say, the deeper the DGAF sets in, the more the company tries to motivate me to stay.
Latest action is a no-strings-attached title change and comp package, which, unfortunately, will not vest for a year (well, a year after the next board meeting where the grant will be issued). I am still on track for November, so I won't be around to see it. I am moody and visibly unhappy and routinely make jokes on calls about various ridiculous and incompetent aspects of the company.
It bothers me more than a little bit that the more I telegraph my done-with-this-place-ness, the more they go out of their way to try and get me to change my mind, while the company itself is planning layoffs. Even if it is true that the budget for retention comes from a central budget that is not involved in layoff calculations, that isn't true for my base compensation, and the fact that a bunch of people are getting cut is giving me a complex.
That plus the senioritis is insane.
They must see you as being in an essential role. Are there any golden handcuffs they could give you that you would accept?
Post by: Freedomin5 on June 08, 2020, 04:10:20 PM
Yes, congratulations @Dee18 and @FlytilFIRE!
Anyone else thinking that this stock market is kinda crazy? Our retirement account balances are now at an all time high less than two months after the Covid-19 shutdowns began. Not that I'm complaining...
Same. We’ve been contributing regularly to the accounts. I keep waiting for the crash that everyone is expecting, but so far no such luck, so our cash stash just keeps growing. We invest quarterly so we are between scheduled purchasing times right now, but I keep hoping to buy some on a dip.
Post by: exit2019 on June 08, 2020, 05:32:03 PM
They must see you as being in an essential role. Are there any golden handcuffs they could give you that you would accept?
Probably not. I'm already on a 4-days-a-week schedule and well compensated. It would require a serious, CEO-level action to bump that to any number that would make a difference and this is not a small company.
I have been deeply burned out for years, so burned out that I barely know myself anymore and ask myself every day what the hell happened to the person I used to be. I'm pretty good at hiding stress and separating things, but over the last year it's finally started to bleed through into my personal life and not in a positive way.
Post by: exit2019 on June 08, 2020, 05:38:30 PM
Same. We’ve been contributing regularly to the accounts. I keep waiting for the crash that everyone is expecting, but so far no such luck, so our cash stash just keeps growing. We invest quarterly so we are between scheduled purchasing times right now, but I keep hoping to buy some on a dip.
Same. Excluding additional moves of cash into the portfolio, as of today, we are down a total of 3.5% or so from the "all time high ever"; we are accumulating cash. I was ready to go all in (minus 2Y cash) as soon as it got under CAPE10 26 but .. didn't, even when CAPE10 was down in 21.x range and is now back to nosebleed levels - over 30, and that can only go up as the Q2 earnings start coming in...
Post by: RetireAbroadAt35 on June 08, 2020, 08:14:18 PM
Post by: aspiringnomad on June 08, 2020, 08:18:27 PM
Post by: Chris@TTL on June 08, 2020, 08:49:42 PM
We're transitioning to early retirement now via part-time work and continual downscaling through the rest of the year.
Thought you all might like a little history line item as I was updating spreadsheets for the two of us.
It's the first entry when we started tracking totals together as we got more serious about FIRE:
| Date | Savings | Checking - Credit | Retirement | Student Loan | Investment | Net Worth |
| Oct 1, 2013 | $17,165.16 | $8,970.63 | $18,684.13 | $109,893.43 | $0.00 | -$65,073.51 |
| Date | Savings | Checking - Credit | Retirement | RE Loan | Investment | Other Assets | Real Estate | Net Worth | Liquid NW |
| Oct 1, 2013 | $8,050.00 | $6,246.50 | $65,798.56 | $181,890.97 | $48,287.33 | $0.00 | $244,100.00 | $190,591.42 | $128,382.39 |
A few businesses, careers, and no more student loans ... plus nearly 7 years later and we're in a very different position.
Post by: Linea_Norway on June 09, 2020, 07:48:39 AM
Just wanted to add us (me and my other half, Jenni) as part of the 2020 cohort.
We're transitioning to early retirement now via part-time work and continual downscaling through the rest of the year.
Thought you all might like a little history line item as I was updating spreadsheets for the two of us.
It's the first entry when we started tracking totals together as we got more serious about FIRE:
Date Savings Checking - Credit Retirement Student Loan Investment Net Worth Oct 1, 2013 $17,165.16 $8,970.63 $18,684.13 $109,893.43 $0.00 -$65,073.51
Date Savings Checking - Credit Retirement RE Loan Investment Other Assets Real Estate Net Worth Liquid NW Oct 1, 2013 $8,050.00 $6,246.50 $65,798.56 $181,890.97 $48,287.33 $0.00 $244,100.00 $190,591.42 $128,382.39
A few businesses, careers, and no more student loans ... plus nearly 7 years later and we're in a very different position.
Welcome. As you mentioned that you will work parttime to the end of the year, I put your date as 12/31. Is that okay? Feel free to request a change.
Post by: Chris@TTL on June 09, 2020, 07:51:07 AM
Post by: JoJo on June 09, 2020, 08:10:51 AM
Status Update: Experiencing One More Month syndrome as well as Pandemic-Inspired Cold Feet and currently riding the wave of corporate layoffs. I've survived so far but I suspect the economy might make this decision for me.
New acronym... OMM... I'm in this exact position. Enjoying the money going into savings and health insurance being paid, while I'm working remote (visiting my parents now), wearing shorts and sitting on the bed taking meetings. Work has been busy, and somewhat interesting too. Since I can't travel, I'm trying to take my parents on some day trips, they are happy to get out of the house.
Post by: Kteach on June 09, 2020, 07:27:41 PM
Post by: LostGirl on June 10, 2020, 09:46:33 AM
Post by: Dee18 on June 10, 2020, 11:07:19 AM
Post by: Linea_Norway on June 10, 2020, 11:33:46 AM
I thought I responded previously. I'm riding out the wave and doing PT work from home. I may try to ride it out until Jan 1, 2021 to get deferred comp or step away this fall. I'll stay until Jan 1 if I can keep working PT until then. If there is a push to return to FT, I plan to leave.
Maybe I missed it, I do not read this every day.
I moved you under OMY and can move you back if you change your date.
Post by: LateStarter on June 12, 2020, 12:57:28 PM
After a brief spell in the 2018 Cohort and then 2 years of indecision/hesitation, the decision has been made for me. Lots of restructuring at work, and my role is being discontinued. One of the reasons for my hesitation is that I thought this might happen, and thought it would be nice to finish with a redundancy package. And here we go . .
It's mostly thanks to this place that this 'bad news' is good news for me - so, thanks MMM! Most of my similarly affected colleagues/friends are now facing some tough times.
Initial plans are to finish my work on the house with a view to selling, and to enjoy the summer with lots of time on my many interests and hobbies. Longer term plans include relocation, maybe some slow travel, who knows - whatever I feel like doing.
Post by: Linea_Norway on June 13, 2020, 12:23:26 AM
Mind if I join you ? Please add me to the list for June 30th.
After a brief spell in the 2018 Cohort and then 2 years of indecision/hesitation, the decision has been made for me. Lots of restructuring at work, and my role is being discontinued. One of the reasons for my hesitation is that I thought this might happen, and thought it would be nice to finish with a redundancy package. And here we go . .
It's mostly thanks to this place that this 'bad news' is good news for me - so, thanks MMM! Most of my similarly affected colleagues/friends are now facing some tough times.
Initial plans are to finish my work on the house with a view to selling, and to enjoy the summer with lots of time on my many interests and hobbies. Longer term plans include relocation, maybe some slow travel, who knows - whatever I feel like doing.
Welcome.
Good that you have made a decision, or maybe better said that the decision was mad for you. But at least this was the chance you were waiting for. Nice to get a goodbye package on your retirement.
About selling a house and having lots of time for hobbies, I need to disappoint you a bit. I have just been through the process for selling, almost done but still need to cleanbthe old place and unpack a lot in the new house. We started about a year ago and haven't had a lot of time for hobbies, just some time in between. As every penny extra you get for the house is taxfree money, you do your best to get as much as you can.
Post by: LateStarter on June 14, 2020, 06:17:08 AM
Mind if I join you ? Please add me to the list for June 30th.
After a brief spell in the 2018 Cohort and then 2 years of indecision/hesitation, the decision has been made for me. Lots of restructuring at work, and my role is being discontinued. One of the reasons for my hesitation is that I thought this might happen, and thought it would be nice to finish with a redundancy package. And here we go . .
It's mostly thanks to this place that this 'bad news' is good news for me - so, thanks MMM! Most of my similarly affected colleagues/friends are now facing some tough times.
Initial plans are to finish my work on the house with a view to selling, and to enjoy the summer with lots of time on my many interests and hobbies. Longer term plans include relocation, maybe some slow travel, who knows - whatever I feel like doing.
Welcome.
Good that you have made a decision, or maybe better said that the decision was mad for you. But at least this was the chance you were waiting for. Nice to get a goodbye package on your retirement.
About selling a house and having lots of time for hobbies, I need to disappoint you a bit. I have just been through the process for selling, almost done but still need to cleanbthe old place and unpack a lot in the new house. We started about a year ago and haven't had a lot of time for hobbies, just some time in between. As every penny extra you get for the house is taxfree money, you do your best to get as much as you can.
Thanks.
Yes, I'm not expecting an easy or quick ride on the property front, especially now when the near future seems more uncertain than ever, but there's no great urgency. The rough plan is to coast a bit through July-August (and maybe Sep too!), enjoying my new freedom while getting a little bit done. Then finish off in the autumn with an aim to get the house on the market before end 2020. Subject to COVID, world economy and housing market developments / turmoil . . . .
Post by: aspiringnomad on June 16, 2020, 08:38:45 AM
Post by: Linea_Norway on June 17, 2020, 12:55:43 AM
Good morning all! @Linea_Norway please mark me down as confirmed next time you update the list :)
Done. Congrats and enjoy your retirement.
How about you, @Kteach?
Post by: Kteach on June 17, 2020, 09:35:40 AM
Post by: ysette9 on June 17, 2020, 09:49:07 AM
Post by: Dicey on June 17, 2020, 10:08:46 AM
Post by: 2sk22 on June 18, 2020, 06:37:54 AM
Post by: ZsaZsa on June 19, 2020, 07:21:44 AM
Wish me luck!
Post by: markbike528CBX on June 19, 2020, 07:52:05 AM
I am hopefully joining this cohort...for a very short time! Positive thoughts please...have meeting with my supervisor in 15 minutes to discuss "adjusting my position." What MY adjustment will be is: "how many weeks notice do I need to give?" 62 may not be truly "retire early", but I think 35 years as a nurse, 23 in my current hospital, is plenty long enough.
Wish me luck!
Good Luck ZsaZsa!
Don't forget to update us, we can't handle the uncertainty, especially at 15 minutes notice. :-)
Post by: ZsaZsa on June 19, 2020, 08:11:13 AM
Post by: Dicey on June 19, 2020, 12:16:45 PM
I had put down July as my quit date but it looks increasingly unlikely. I will have to stick around long enough to help my startup secure another round of funding. A number of people's jobs depends on this and I can't just walk away no matter how much I want to :-(At least you could, which has got to be some comfort. Hope it all works out soon.
Post by: ysette9 on June 19, 2020, 12:59:56 PM
I DID IT!!! Gave my notice, with my supervisors blessing. Of course I made it easy for them, a friend of mine who has also worked here for years would like to slide right into my position, and already has most of the same qualification. I don't have a definite date yet, until we know if the job has to be posted or not. I feel...relieved, a little sad, a lot happy, and like a huge weight is (almost) off my shoulders.Wonderful! Congrats
Post by: Dicey on June 19, 2020, 01:28:54 PM
+1. Hooray!I DID IT!!! Gave my notice, with my supervisors blessing. Of course I made it easy for them, a friend of mine who has also worked here for years would like to slide right into my position, and already has most of the same qualification. I don't have a definite date yet, until we know if the job has to be posted or not. I feel...relieved, a little sad, a lot happy, and like a huge weight is (almost) off my shoulders.Wonderful! Congrats
Post by: fishnfool on June 19, 2020, 07:41:36 PM
My prediction 4 years ago that I would retire in 2020 is coming true. Although I missed the date by a few months.
Back on the 4th page of this thread I predicted June 1st 2020. I was going to stretch it out another year until 2021. But due to the Covid pandemic my employer through out a offer to get some of us dinosaurs to retire and I couldn't refuse. A nice cash bonus in addition to my defined benefit pension and I am gone on August 31st 2020.
Fish on!
Post by: ysette9 on June 19, 2020, 08:25:04 PM
Sa-weet!
My prediction 4 years ago that I would retire in 2020 is coming true. Although I missed the date by a few months.
Back on the 4th page of this thread I predicted June 1st 2020. I was going to stretch it out another year until 2021. But due to the Covid pandemic my employer through out a offer to get some of us dinosaurs to retire and I couldn't refuse. A nice cash bonus in addition to my defined benefit pension and I am gone on August 31st 2020.
Fish on!
Post by: Dicey on June 19, 2020, 11:57:57 PM
Oh, yeah!Sa-weet!
My prediction 4 years ago that I would retire in 2020 is coming true. Although I missed the date by a few months.
Back on the 4th page of this thread I predicted June 1st 2020. I was going to stretch it out another year until 2021. But due to the Covid pandemic my employer through out a offer to get some of us dinosaurs to retire and I couldn't refuse. A nice cash bonus in addition to my defined benefit pension and I am gone on August 31st 2020.
Fish on!
Post by: Linea_Norway on June 20, 2020, 01:40:24 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
02/??/20 RetireAbroadAt35
03/01/20 Bmjohnson (@50) CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/02/20 CptCool
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/15/20 Lucky13 (@44)
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/01/20 Albireo13 (@64)
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
06/??/20 myobjectivism Given Notice
07/10/20 Zsazsa CONFIRMED
07/??/20 SugarMountain
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) Given notice
08/07/20 FrugalAussie (@52)
08/14/20 BeanCounter @42
08/31/20 fishnfool Accepted retirement package by employer
09/01/20 rab-bit's wife
09/25/20 apurplelife
09/30/20 MarcherLady
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/??/20 Dan23
09/??/20 2sk22 (or November)
10/01/20 Farmgirl (@61)
10/15/20 Unique User (@50)
10/??/20 Rubyvroom
11/01/20 Alienbogey
11/10/20 exit2019
11/20/20 Alternatepriorities
11/30/20 Itchyfeet
12/01/20 FireLane (@38)
18/12/20 bownyboy
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 honneyfill (or earlier)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 texxan1
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 LadyMaWhiskers
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
tipster350
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: Linea_Norway on June 20, 2020, 01:46:25 AM
I DID IT!!! Gave my notice, with my supervisors blessing. Of course I made it easy for them, a friend of mine who has also worked here for years would like to slide right into my position, and already has most of the same qualification. I don't have a definite date yet, until we know if the job has to be posted or not. I feel...relieved, a little sad, a lot happy, and like a huge weight is (almost) off my shoulders.
Welcome. Congrats.
A little side note though. I would agree on a latest possible date with your supervisor. Because if they don't manage to make the deal with your friend and your position stays open, it is suddenly your problem.
Post by: Linea_Norway on June 20, 2020, 01:47:06 AM
My prediction 4 years ago that I would retire in 2020 is coming true. Although I missed the date by a few months.
Back on the 4th page of this thread I predicted June 1st 2020. I was going to stretch it out another year until 2021. But due to the Covid pandemic my employer through out a offer to get some of us dinosaurs to retire and I couldn't refuse. A nice cash bonus in addition to my defined benefit pension and I am gone on August 31st 2020.
Fish on!
Welcome. It is always nice to get a sweet package as a bonus.
Post by: Linea_Norway on June 20, 2020, 01:48:07 AM
I just noticed @FIRE_at_45 isn't on this list. I'm sure he pulled the plug recently and deserves his place on this year's honor roll.
I would like the member to check in personally before putting him in the list.
Post by: lemanfan on June 20, 2020, 08:09:15 AM
Not sure if this is permanent FIRE either, or if I will fall back into working or starting another company, but for now I'm free.
Post by: Linea_Norway on June 20, 2020, 08:34:04 AM
What the heck... perhaps I should be on the list too? I've not taken a paycheck since the new year, and I'm officially no longer employed. I still help out a little at my old office due to a sense of loyalty, but not employed since feb 29th this year. :)
Not sure if this is permanent FIRE either, or if I will fall back into working or starting another company, but for now I'm free.
Welcome. Now you are on the list, with a little note.
Post by: Dicey on June 20, 2020, 09:05:12 AM
The bat signal was to get @FIRE_at_45's attention to see if he wanted to play. I wasn't asking you to put him on then list, but I can see how it might have looked that way. Sorry.I just noticed @FIRE_at_45 isn't on this list. I'm sure he pulled the plug recently and deserves his place on this year's honor roll.
I would like the member to check in personally before putting him in the list.
Post by: lemanfan on June 20, 2020, 09:50:39 AM
What the heck... perhaps I should be on the list too? I've not taken a paycheck since the new year, and I'm officially no longer employed. I still help out a little at my old office due to a sense of loyalty, but not employed since feb 29th this year. :)
Not sure if this is permanent FIRE either, or if I will fall back into working or starting another company, but for now I'm free.
Welcome. Now you are on the list, with a little note.
Thank you. Sitting fully alone at home during the biggest Swedish celebration season (Midsummer! (https://www.youtube.com/watch?v=u8ZLpGOOA1Q)), it feels good to be part at least one cohort. :)
Post by: fishnfool on June 20, 2020, 06:08:02 PM
Thanks for the well wishes!
FF
Post by: Farmgirl on June 22, 2020, 06:56:04 AM
Nervous, but excited!
Post by: Linea_Norway on June 27, 2020, 01:38:28 PM
How are you all doing?
Post by: SugarMountain on June 27, 2020, 02:24:44 PM
Next up to FIRE in July are @ZsaZsa (already given notice), @JoJo , @ SugarMountain , @MMM123 (maybe) , @bas5252 , @2sk22 , @SpreadsheetMan
How are you all doing?
My plan is still to pull the trigger next month, but I have not yet. Technically the absolute soonest I might have would have been yesterday, but more likely is the 2nd or 3rd week in July. Standing at the top of the ten meter platform debating taking the plunge. Looks higher from up here than it did from the ground...
(https://i.dailymail.co.uk/i/pix/2013/02/02/article-2272494-174F2661000005DC-889_634x462.jpg)
Post by: JoJo on June 27, 2020, 03:27:53 PM
Post by: 2sk22 on June 27, 2020, 04:06:36 PM
Post by: bobble on June 27, 2020, 10:20:41 PM
Just at the moment I'm feeling my way around for a balance between spending time with the family, starting projects and learning new things, and indulging in some non-productive downtime like watching lousy TV shows as a crass celebration of time not being such an extremely scarce resource anymore.
So far it's great. Time for myself is still a bit scarce due to the reality of having two preschoolers at home all summer and Covid-19 limiting what we can do out in the world. I can't really fathom how much personal time I will have for my projects once school starts. Knowing that more personal time is coming down the pipeline makes it easy to enjoy the summer without worrying too much about doing things that feel "productive."
Post by: Linea_Norway on June 28, 2020, 06:36:11 AM
Next up to FIRE in July are @ZsaZsa (already given notice), @JoJo , @ SugarMountain , @MMM123 (maybe) , @bas5252 , @2sk22 , @SpreadsheetMan
How are you all doing?
My plan is still to pull the trigger next month, but I have not yet. Technically the absolute soonest I might have would have been yesterday, but more likely is the 2nd or 3rd week in July. Standing at the top of the ten meter platform debating taking the plunge. Looks higher from up here than it did from the ground...
(https://i.dailymail.co.uk/i/pix/2013/02/02/article-2272494-174F2661000005DC-889_634x462.jpg)
Exciting time for you, just before giving notice.
Post by: Linea_Norway on June 28, 2020, 06:42:09 AM
Hey everybody! I'm in the 2020 FIRE club now. We have been truly FIRE for around a month now. I'm 42 and we have kids about to start school. Getting used to it!
Just at the moment I'm feeling my way around for a balance between spending time with the family, starting projects and learning new things, and indulging in some non-productive downtime like watching lousy TV shows as a crass celebration of time not being such an extremely scarce resource anymore.
So far it's great. Time for myself is still a bit scarce due to the reality of having two preschoolers at home all summer and Covid-19 limiting what we can do out in the world. I can't really fathom how much personal time I will have for my projects once school starts. Knowing that more personal time is coming down the pipeline makes it easy to enjoy the summer without worrying too much about doing things that feel "productive."
Welcome. I put first of June at your name.
I have been super productive for the past few weeks, organizing the new house after moving in and cleaning the empty clown house (240m2). And doing all the household while DH was in bed with a damaged back.
I am looking foreward to being very unproductive for at least a week. Didn't work though, as I today felt the need to clean the new house. But apart from that, today is a relaxing, rainy day. Oh ja, I need to unpack the final 2 boxes with mostly cleaning materials, but those can be ignored for another day.
Post by: Linea_Norway on June 28, 2020, 06:44:50 AM
@Linea_Norway Its going to be at least September before I can quit, perhaps even November.
Good luck for the last couple of months working. At least you could feel like FIRE is near and shouldn't need to worry about your job, if you at all do that.
Post by: Linea_Norway on June 28, 2020, 06:47:01 AM
COVID has delayed things for me. My ability to work 100% remote for indefinite time, and I am already 60% part time for the last 3.5 years, and the heavily subsidized health insurance is keeping me hanging on past my intended date. At some point, it may get to the point that hanging onto next March bonus time makes sense.
Working part time and from home makes it indeed more attractive and I understand your healthcare insurance wish, which is a pity that you Americans need at all.
I put you in the OMY group, if that is okay
Post by: ZsaZsa on June 28, 2020, 05:20:35 PM
Post by: BeanCounter on June 29, 2020, 08:17:53 AM
Post by: CoffeeAndDonuts on June 29, 2020, 10:28:14 PM
I've been an occasional poster, often lurker, slowly working my way there.
The story of getting here is long, 20+ years, and feels so immediate and so distant at the same time. The sense of freedom though as I emerge from it is such that time feels compressed - it couldn't possibly have been 20y. There's so much in there that I love but it went far too fast. I'm hoping, believing, that more time and more freedom to challenge myself, to be excited to by where I am, doing what I am, with my family and friends, will slow time... let me revel in it a bit and pivot to something totally different. I can't pause time but I sure hope I can slow it in a way that the last 20y haven't allowed.
Tonight I sat with a friend on a rather different path, one that I've often admired and known for 25 years now, with whom my family and hers planned on taking an epic trip together this summer that coincided with my retirement from career work. This isn't the summer I anticipated but the disruption of plans has allowed my wife and me to connect with and do things that are more important and, in some important ways, more inline with our values. We've discovered we can do more than we imagined in our young sons education, we can be better spouses, we can navigate complex life changes. I wish the context weren't a pandemic where we know friends and family that are suffering but I can't deny that we've found a lot of good in this moment.
I sat in a college class about 20 years ago and recall plotting a 10y goal that allowed me flexibility (not FIRE levels) at age 30. I achieved that goal but kept going. In 2016, travelling with friends in Mexico City, I read an article in a copy of the Atlantic they brought about MMM. Not long after another friend of a friend connected me to this community. We'd done a lot right before then but really doubled down. It's taken 4y but we've bought and renovated the house we love, re-visited the trajectory we were on and honed in a little more specifically and to things we cared about, and unloaded my business in a way where I can hold my head high - my business partner taken care of, my new partners having understood the situation despite it likely minimizing my value, all our customers taken care of, and all but 1 employee taken forward from my old company into the new one.
It's been 4y of solid work, arguably 20y+, and I'm so thrilled to be done with that segment and see what comes next - what I and my family make of this gift we have. I'm so appreciative of what this community has offered in inspiration and knowledge.
Thank you all!
PS - I noticed the list of those exiting. My date is officially Sep 30 but I've been winding down for the last year. My partners know the exit plan is in place and I talked to my first key employee about a week ago. 3 mos to go. I'm in a good place and think I've left those that rely on me in a good place. It's bittersweet but mostly sweet.
Post by: Linea_Norway on June 30, 2020, 06:22:05 AM
I'm in! Or is it I'm out!
I've been an occasional poster, often lurker, slowly working my way there.
The story of getting here is long, 20+ years, and feels so immediate and so distant at the same time. The sense of freedom though as I emerge from it is such that time feels compressed - it couldn't possibly have been 20y. There's so much in there that I love but it went far too fast. I'm hoping, believing, that more time and more freedom to challenge myself, to be excited to by where I am, doing what I am, with my family and friends, will slow time... let me revel in it a bit and pivot to something totally different. I can't pause time but I sure hope I can slow it in a way that the last 20y haven't allowed.
Tonight I sat with a friend on a rather different path, one that I've often admired and known for 25 years now, with whom my family and hers planned on taking an epic trip together this summer that coincided with my retirement from career work. This isn't the summer I anticipated but the disruption of plans has allowed my wife and me to connect with and do things that are more important and, in some important ways, more inline with our values. We've discovered we can do more than we imagined in our young sons education, we can be better spouses, we can navigate complex life changes. I wish the context weren't a pandemic where we know friends and family that are suffering but I can't deny that we've found a lot of good in this moment.
I sat in a college class about 20 years ago and recall plotting a 10y goal that allowed me flexibility (not FIRE levels) at age 30. I achieved that goal but kept going. In 2016, travelling with friends in Mexico City, I read an article in a copy of the Atlantic they brought about MMM. Not long after another friend of a friend connected me to this community. We'd done a lot right before then but really doubled down. It's taken 4y but we've bought and renovated the house we love, re-visited the trajectory we were on and honed in a little more specifically and to things we cared about, and unloaded my business in a way where I can hold my head high - my business partner taken care of, my new partners having understood the situation despite it likely minimizing my value, all our customers taken care of, and all but 1 employee taken forward from my old company into the new one.
It's been 4y of solid work, arguably 20y+, and I'm so thrilled to be done with that segment and see what comes next - what I and my family make of this gift we have. I'm so appreciative of what this community has offered in inspiration and knowledge.
Thank you all!
PS - I noticed the list of those exiting. My date is officially Sep 30 but I've been winding down for the last year. My partners know the exit plan is in place and I talked to my first key employee about a week ago. 3 mos to go. I'm in a good place and think I've left those that rely on me in a good place. It's bittersweet but mostly sweet.
Welcome to the cohort!
Post by: LateStarter on June 30, 2020, 02:48:49 PM
I'm all done and dusted, and I now own all of my time. It hasn't really sunk in.
Thanks MMM and Forum. I wouldn't be in such a good place without you !!
Post by: honeyfill on June 30, 2020, 04:38:45 PM
I have retired twice before and failed miserably each time. The first time was an involuntary retirement in 2004 when I was laid off. I hadn't planned on retiring, I wasn't ready mentally to retire and we could not have done it financially without my wife continuing to work. The problem was that it took me two years to find a job, through a combination of laziness, bad economy and lack of motivation. At that time, we had FU money but not FI money, so it was easy to let things slide month to month.
The second retirement was in 2018. That one failed for the opposite reason. I was offered so much money at a new job in June of 2019, that there was no way I could turn it down. By working for the last year, I have turned a comfortable retirement into a FAT FIRE.
Now I am almost ready. I am retiring between Sept 8th 2020 and January 4, 2021. You can put me down for Dec 31, 2020, but it could be any day I wake up and feel like playing golf instead of working!
Post by: JoJo on June 30, 2020, 05:20:54 PM
Post by: markbike528CBX on June 30, 2020, 08:55:42 PM
I've been reluctant to post on the 2020 cohort topic because I haven't decided exactly when I want to retire.
I have retired twice before and failed miserably each time. The first time was an involuntary retirement in 2004 when I was laid off. I hadn't planned on retiring, I wasn't ready mentally to retire and we could not have done it financially without my wife continuing to work. The problem was that it took me two years to find a job, through a combination of laziness, bad economy and lack of motivation. At that time, we had FU money but not FI money, so it was easy to let things slide month to month.
The second retirement was in 2018. That one failed for the opposite reason. I was offered so much money at a new job in June of 2019, that there was no way I could turn it down. By working for the last year, I have turned a comfortable retirement into a FAT FIRE.
Now I am almost ready. I am retiring between Sept 8th 2020 and January 4, 2021. You can put me down for Dec 31, 2020, but it could be any day I wake up and feel like playing golf instead of working!
If I woke up and felt like playing golf, DW would call for an immediate exorcism. I'm glad I had some alternate reasons to FIRE.
You could put your criteria as a) wanna golf OR b)the moon is in the seventh house (Age of Aquarius) OR c) any non-nonsensical "reason". Just don't do AND logic, that way leads to OMY!
Post by: Linea_Norway on July 01, 2020, 03:51:55 AM
I've been reluctant to post on the 2020 cohort topic because I haven't decided exactly when I want to retire.
I have retired twice before and failed miserably each time. The first time was an involuntary retirement in 2004 when I was laid off. I hadn't planned on retiring, I wasn't ready mentally to retire and we could not have done it financially without my wife continuing to work. The problem was that it took me two years to find a job, through a combination of laziness, bad economy and lack of motivation. At that time, we had FU money but not FI money, so it was easy to let things slide month to month.
The second retirement was in 2018. That one failed for the opposite reason. I was offered so much money at a new job in June of 2019, that there was no way I could turn it down. By working for the last year, I have turned a comfortable retirement into a FAT FIRE.
Now I am almost ready. I am retiring between Sept 8th 2020 and January 4, 2021. You can put me down for Dec 31, 2020, but it could be any day I wake up and feel like playing golf instead of working!
When I still worked, every day with new weather, summer or winter, or thought I was rather outside than at the office. Had that feeling for many years. When I started working 80%, I used every Friday to do whatever I wanted outside, usually skiing or mushroom hunting.
I can't imagine it will be easy to work the summer or a nice autumn. So I guess you will retire rather sooner than later.
Post by: Linea_Norway on July 01, 2020, 03:53:41 AM
Please mark me as confirmed !!
I'm all done and dusted, and I now own all of my time. It hasn't really sunk in.
Thanks MMM and Forum. I wouldn't be in such a good place without you !!
Congrats on being a workfree person.
Post by: JoJo on July 01, 2020, 01:15:51 PM
Post by: FrugalAussie on July 02, 2020, 07:44:38 PM
For the first six months I'll be focusing on my health/fitness, including lots of naps and my passion for creative arts therapies. I can feel the stress easing already.
Congrats to everyone else that's taken the steps to become FI and then been brave enough to take the plunge into early retirement.
Post by: Linea_Norway on July 02, 2020, 11:45:47 PM
Hi Everyone. I FIRE'd in May 2017, aged 52. Returned to a dream job January 2019. I've now hit the self-defined peak of my career, gained 10 kgs, become tired and I feel like I'm burning out so I've resigned to start my second FIRE experience. My last day is 7 August. I'm enjoying a week off next week to rest up before the last month which will be VERY busy. My husband FIRE'd in August 2017, loves it and not interested at all in returning to work. He's really looking forward to having me home.
For the first six months I'll be focusing on my health/fitness, including lots of naps and my passion for creative arts therapies. I can feel the stress easing already.
Congrats to everyone else that's taken the steps to become FI and then been brave enough to take the plunge into early retirement.
Welcome to the cohort.
No job is worth that you become burned out. A dream job should ideally be of a working load that you can handle without getting tired.
Post by: honeyfill on July 07, 2020, 02:28:08 PM
She is having back issues (details are in my journal, if you are interested.)
Depending how this turns out, I don't think I can delay retiring much longer.
We will make a decision once we get the x-ray/MRI results and consult with the Doctor , but I am pretty sure I will be moving my date up. Maybe August or September.
I guess sometimes you pick the retirement date and sometimes it gets picked for you.
Post by: bownyboy on July 08, 2020, 02:00:47 AM
So that means my FIRE date will be Friday 18th December 2020 @Linea_Norway if you can update my date please, thanks!
I now understand why people get one more year syndrome. The chance to earn just a little more stash to hedge against a downturn or simply to give more peace of mind is very tempting.
I’m finding this even more so, since I’ve been working from home 100% since early March. The stress of commuting has gone. I get to have breakfast in my garden, go for walks, cycling etc. Spending more time with my wife has also been great.
Work doesn’t seem so bad now :)
Post by: aspiringnomad on July 08, 2020, 11:38:58 AM
I'm sure there will be some downs as well as ups, but it's hard to describe how good this new life feels right now. We've definitely spent a shocking amount by Mustachian standards in the transition. For some reason spending instead of saving doesn't provoke anxiety like I thought it might. That's probably in part thanks to the markets and a couple fortunate individual investments, as our net worth has gone up by more than a year's worth of income in the past couple months despite all that spending and receiving no income for nearly a month. I'm also expecting that the spending will wane considerably now that the big purchases and bureaucratic costs are mostly out of the way.
This is really a dream come true so far. Hope the rest of the 2020 class that have made the leap are similarly enjoying life, and that this happy update provides some encouragement for others that have yet to leap.
Post by: Linea_Norway on July 08, 2020, 12:22:04 PM
Just checking in with a quick and happy update: since FIREing in mid-June, we've moved overseas and now live in a little beach town in Southern Europe. We've moved very quickly to get settled in, with the perfect car and a quaint house with gorgeous views and gardens. After checking most of the things off our transition list, in the past several days we've started to really relax. The only time I ever set an alarm is to catch the good surf in the morning.
I'm sure there will be some downs as well as ups, but it's hard to describe how good this new life feels right now. We've definitely spent a shocking amount by Mustachian standards in the transition. For some reason spending instead of saving doesn't provoke anxiety like I thought it might. That's probably in part thanks to the markets and a couple fortunate individual investments, as our net worth has gone up by more than a year's worth of income in the past couple months despite all that spending and receiving no income for nearly a month. I'm also expecting that the spending will wane considerably now that the big purchases and bureaucratic costs are mostly out of the way.
This is really a dream come true so far. Hope the rest of the 2020 class that have made the leap are similarly enjoying life, and that this happy update provides some encouragement for others that have yet to leap.
Wow, that is quite a change. Do you want to share which country? And are you learning the language?
Post by: aspiringnomad on July 08, 2020, 12:37:49 PM
I speak Spanish well and French poorly and can read Portuguese at about 90% but speaking is a different story. Will hopefully get there.
Post by: MoneyTree on July 08, 2020, 10:10:05 PM
Due to COVID and just life in general, we are planning to move to a larger place to have my mother-in-law move in with us. This has several effects, and I'm not sure whether it will impact our FIRE plans positively or negatively yet.
For sure, our expenses will go up significantly (Larger place + another person to care for).
But, here's where it gets interesting, our income will also increase as well. My MIL gets Social Security income, which she can contribute towards our expenses. DW will also quit her part time work, but she will make up for it since she will become the primary caregiver for my MIL. There is a gov't program that pays for in-home supportive services, which we have been utilizing to help pay caregivers, but since we will become her caregivers, those payments will go straight to us.
This is the first time in a very long time that I won't have a clear picture of what our cash flow will be like. We'll see how this all shakes out once we're settled into a new normal. will keep y'all posted!
Post by: ZsaZsa on July 10, 2020, 06:18:04 PM
Post by: markbike528CBX on July 10, 2020, 07:12:47 PM
Today was the day...not very early retirement, but early enough for me. 35 years a nurse, 22 in the hospital where I am now.
Awesome! Breathe in deeply your well deserved freedom.
Post by: Linea_Norway on July 10, 2020, 11:32:35 PM
Today was the day...not very early retirement, but early enough for me. 35 years a nurse, 22 in the hospital where I am now.
Well done. Good to hear that a nurse is capable of retiring early.
Post by: itchyfeet on July 11, 2020, 07:43:01 AM
After years of working to be FI, and having achieved that goal more or less, I have just accepted a new job.
We will see how it goes.
Post by: bobble on July 11, 2020, 08:07:07 AM
Portugal, and yes slowly...
I would love to follow your FIRE adventure in Portugal. We have often talked about moving to Portugal or Spain in FIRE, mostly for the climate. For now we are living in Scandinavia because it's a familiar environment to start our kids in school but we always have half an eye looking south (especially during winter...)
Post by: BeanCounter on July 11, 2020, 10:07:23 AM
Unfortunately working a lot to try and transition it all.
Post by: BigEasyStache on July 11, 2020, 10:09:15 AM
Long time lurker with very few posts. Just wanted to say we finally hit the 2M mark this year....even after the covid market decline.
2.175M w/o home
We own our home so if you use that for NW then 2.5M.
Wife and I still working.....but really, really getting tired of it. Need to decide how to wind it down w/o hurting our coworkers or company. Will try to be more active on the site since I've gotten so much from it.
Post by: poxpower on July 11, 2020, 12:41:14 PM
I was into early retirement stuff mostly for survival when I was making next to no income, then when my income ramped up the timeline was uncertain ( due to the nature of my income ) but recently income is stable and large enough that I can't imagine having to work again and I might even enjoy a standard of living in retirement much above what I originally settled for in my mind.
Meanwhile on facebook: OMG 2020 WORST YEAR OF ALL TIME REEEEEEEE CAN IT GET WORSE REEEEEEEEEE
I dunno 2020 pretty good so far!
Post by: aspiringnomad on July 11, 2020, 05:13:38 PM
Portugal, and yes slowly...
I would love to follow your FIRE adventure in Portugal. We have often talked about moving to Portugal or Spain in FIRE, mostly for the climate. For now we are living in Scandinavia because it's a familiar environment to start our kids in school but we always have half an eye looking south (especially during winter...)
We may start a blog focused on practical info and keeping friends and family up-to-date. Honestly, trying to not bite off more than we can chew and right now getting settled, beach/surf time, and learning the language is a priority. But we do have a URL picked out if we ever get around to it.
I'm happy to try to answer any specific questions that come up for you. Portugal has a reputation for being bureaucratic, but at least where I am I've found that people are very patient and accustomed to helping foreigners like myself through the red tape. Most people here also speak decent English, but they're still very appreciative if you try to speak some Portuguese.
The climate in the Algarve is incredible. We've been here for over three weeks now and every single day has been sunny, ~25 C, and low humidity. Obviously, we're in the dry season, but I don't think I'd ever get sick of that.
Post by: Linea_Norway on July 12, 2020, 02:39:26 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
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03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/02/20 CptCool
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) Given notice
08/14/20 BeanCounter @42
08/31/20 fishnfool Accepted retirement package by employer
08/31/20 Albireo13 (@64) Given notice
08/31/20 FrugalAussie (@54) Given notice
09/01/20 RetireAbroadAt35
09/01/20 rab-bit's wife
09/04/20 Lucky13 (@44)
09/11/20 ItsALongStory (@39) Given notice
09/25/20 apurplelife
09/30/20 MarcherLady
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/??/20 Dan23
09/??/20 2sk22 (or November)
09/30/20 Farmgirl (@61) Given notice
10/15/20 Unique User (@50)
10/??/20 Rubyvroom
11/06/20 WYOGO
11/10/20 exit2019
11/20/20 Alternatepriorities
12/01/20 FireLane (@38)
12/14/20 Megs123 Given notice
12/18/20 bownyboy
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 honneyfill (or earlier)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 texxan1
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: tipster350 on July 12, 2020, 08:05:58 AM
Post by: Linea_Norway on July 12, 2020, 10:57:04 AM
tipster350 is moving to 2021.
Good luck in your remaining year at work.
Post by: ysette9 on July 12, 2020, 03:44:49 PM
Wow, that sounds like an incredibly big change. You wife is 110% on board with this idea? Is there an exit path if everyone gets I to this and then decides it isn’t working out?
Due to COVID and just life in general, we are planning to move to a larger place to have my mother-in-law move in with us. ...
But, here's where it gets interesting, our income will also increase as well. My MIL gets Social Security income, which she can contribute towards our expenses. DW will also quit her part time work, but she will make up for it since she will become the primary caregiver for my MIL. There is a gov't program that pays for in-home supportive services, which we have been utilizing to help pay caregivers, but since we will become her caregivers, those payments will go straight to us.
I didn’t realize that about SS caregiver payments. Very interesting.
Post by: ysette9 on July 12, 2020, 03:47:17 PM
That sounds lovely. Somehow I always assumed Portugal would be hotter than that.Portugal, and yes slowly...
I would love to follow your FIRE adventure in Portugal. We have often talked about moving to Portugal or Spain in FIRE, mostly for the climate. For now we are living in Scandinavia because it's a familiar environment to start our kids in school but we always have half an eye looking south (especially during winter...)
We may start a blog focused on practical info and keeping friends and family up-to-date. Honestly, trying to not bite off more than we can chew and right now getting settled, beach/surf time, and learning the language is a priority. But we do have a URL picked out if we ever get around to it.
I'm happy to try to answer any specific questions that come up for you. Portugal has a reputation for being bureaucratic, but at least where I am I've found that people are very patient and accustomed to helping foreigners like myself through the red tape. Most people here also speak decent English, but they're still very appreciative if you try to speak some Portuguese.
The climate in the Algarve is incredible. We've been here for over three weeks now and every single day has been sunny, ~25 C, and low humidity. Obviously, we're in the dry season, but I don't think I'd ever get sick of that.
Post by: MoneyTree on July 12, 2020, 06:43:36 PM
Wow, that sounds like an incredibly big change. You wife is 110% on board with this idea? Is there an exit path if everyone gets I to this and then decides it isn’t working out?
Due to COVID and just life in general, we are planning to move to a larger place to have my mother-in-law move in with us. ...
But, here's where it gets interesting, our income will also increase as well. My MIL gets Social Security income, which she can contribute towards our expenses. DW will also quit her part time work, but she will make up for it since she will become the primary caregiver for my MIL. There is a gov't program that pays for in-home supportive services, which we have been utilizing to help pay caregivers, but since we will become her caregivers, those payments will go straight to us.
I didn’t realize that about SS caregiver payments. Very interesting.
Yes, it is going to be a big change for us. Everyone is 100% on board at the moment, but we are only guessing how life is going to be after the move. Luckily, we happen to be living through a live test run right now, as all our caregivers have had to stop working when their kids were pulled out of school. So MIL currently stays with us half the time and my wife's brother the other half.
Even after things fully open back up, we decided we don't want to have a bunch of caregivers coming and going to my MIL's place, like they were before COVID. The supportive services assistance is a big bonus, but we likely would have made the same decision even without it (https://www.cdss.ca.gov/inforesources/ihss).
On the fence between FIRE this year or next year. will have a much better idea in the next few months.
Post by: myobjectivism on July 13, 2020, 10:38:51 PM
Settling down now, digesting relocating from another country in less than 4 days (got tickets confirmed four days before the journey.. so lot of packing, selling car and other big things etc). And now settling down here in Hyderabad, India.
Will start journal soon once I sort out important small things.
Post by: bobble on July 13, 2020, 10:45:56 PM
Happy to say that I retired (@43) on 4th July 2020. Able to catch a flight back to India from UK which was stopping me to retire in May/June this year.
That's fantastic! Congratulations :)
Post by: Linea_Norway on July 14, 2020, 09:26:02 AM
Happy to say that I retired (@43) on 4th July 2020. Able to catch a flight back to India from UK which was stopping me to retire in May/June this year.
Settling down now, digesting relocating from another country in less than 4 days (got tickets confirmed four days before the journey.. so lot of packing, selling car and other big things etc). And now settling down here in Hyderabad, India.
Will start journal soon once I sort out important small things.
Congrats on being FIRED. Is must have been a stressful 4 days. Good luck in India.
Post by: RetireAbroadAt35 on July 17, 2020, 09:51:52 AM
02/??/20 RetireAbroadAt35I started the exit convos. Wanting to be diplomatic and keep the door open for future contract work, I told them I was thinking about leaving and why. Long story short since COVID took off we're all pretending we never had those meetings. Layoffs are happening. Shockingly I survived round 1, but I'm keeping quiet, coasting, and waiting to see if they let me go with a severance check in the fall. Put me down for Sept 1.
Post by: SailingOnASmallSailboat on July 17, 2020, 11:29:56 AM
Today was the day...not very early retirement, but early enough for me. 35 years a nurse, 22 in the hospital where I am now.
Congratulations!!!
Post by: aspiringnomad on July 17, 2020, 01:30:16 PM
That sounds lovely. Somehow I always assumed Portugal would be hotter than that.Portugal, and yes slowly...
I would love to follow your FIRE adventure in Portugal. We have often talked about moving to Portugal or Spain in FIRE, mostly for the climate. For now we are living in Scandinavia because it's a familiar environment to start our kids in school but we always have half an eye looking south (especially during winter...)
We may start a blog focused on practical info and keeping friends and family up-to-date. Honestly, trying to not bite off more than we can chew and right now getting settled, beach/surf time, and learning the language is a priority. But we do have a URL picked out if we ever get around to it.
I'm happy to try to answer any specific questions that come up for you. Portugal has a reputation for being bureaucratic, but at least where I am I've found that people are very patient and accustomed to helping foreigners like myself through the red tape. Most people here also speak decent English, but they're still very appreciative if you try to speak some Portuguese.
The climate in the Algarve is incredible. We've been here for over three weeks now and every single day has been sunny, ~25 C, and low humidity. Obviously, we're in the dry season, but I don't think I'd ever get sick of that.
Yeah it definitely gets hotter and has taken a turn for the warmer recently, topping out around 30C a couple days. I think because we're near the beach and get the breeze it doesn't feel nearly as hot as I remember summer in Lisbon being. Still basically no clouds though and we've been here nearly a month now.
Post by: Farmgirl on July 20, 2020, 09:38:38 AM
So that's it for me kids. A long, soul-searching journey. Still a little worried about the future, but I am so done. I'll take my chances.
Post by: SugarMountain on July 20, 2020, 10:47:46 AM
I told her I was taking a job as a private portfolio manager. She said, Oh...well that sounds like a great opportunity. Then I told her that the portfolio was mine.
That's awesome. I may need to use that.
Post by: markbike528CBX on July 20, 2020, 11:19:28 AM
I told her I was taking a job as a private portfolio manager. She said, Oh...well that sounds like a great opportunity. Then I told her that the portfolio was mine.
That's awesome. I may need to use that.
Depending on the level of FU involved, maybe you have an FU money story for that thread.
Post by: Alternatepriorities on July 20, 2020, 01:25:53 PM
I told her I was taking a job as a private portfolio manager.
I am definitely going to use that job title the next time it comes up.
Post by: ysette9 on July 20, 2020, 03:35:20 PM
Today was our first day back to the cube since March 13. Gave my boss a resignation letter (a one liner) and my last day is September 30. I told her I was taking a job as a private portfolio manager. She said, Oh...well that sounds like a great opportunity. Then I told her that the portfolio was mine.Love that line!
So that's it for me kids. A long, soul-searching journey. Still a little worried about the future, but I am so done. I'll take my chances.
Do you think she didn’t get it?
Post by: Dicey on July 20, 2020, 03:40:43 PM
Post by: Joan-eh? on July 20, 2020, 04:17:32 PM
Post by: FrugalAussie on July 20, 2020, 04:28:44 PM
Happy to say that I retired (@43) on 4th July 2020. ... Will start journal soon once I sort out important small things.
I look forward to reading your diary. I really enjoying hearing about people's retirement journeys in other countries. I went to school in Mussoorie in the late 70s, returned to India for the 30 year reunion in 2013, hoping to get back for the 40 year reunion in 2023.
Enjoy!
Post by: FrugalAussie on July 20, 2020, 04:38:25 PM
Post by: alienbogey on July 20, 2020, 10:44:22 PM
I was planning to go in November with a small chance of extending to February, but the company didn't know that. They recently came out with a number of early retirement and leave options. The one I got pays me 60% of my full time income for two years with same company medical, vacation, sick leave, and company 401k contribution plus a few other active employee benefits. No work required or desired of me.
Then officially retired, with two additional years of company medical paid for, then company discounted medical offered until 65.
And, potentially biggest of all, my pension will continue to accrue years of service for these two years of no work, which will result in it being about 15% higher than if I had retired as planned this November.
All this sounds braggy, but this is the only place where I could tell it. It's all just a windfall due to Covid and I'm somewhat conflicted as to how to feel about it.
Anyway, although I'm officially on the company's books for two more years it's irrevocable and I won't be working for them again, so please put CONFIRMED by my name.
Post by: Alternatepriorities on July 21, 2020, 12:52:34 AM
Put me down as retired.
...
Wow. Congratulations on that and on designing a lifestyle where living on 60% is a winning option.
Post by: PhilB on July 21, 2020, 12:57:37 AM
Put me down as retired.
I was planning to go in November with a small chance of extending to February, but the company didn't know that. They recently came out with a number of early retirement and leave options. The one I got pays me 60% of my full time income for two years with same company medical, vacation, sick leave, and company 401k contribution plus a few other active employee benefits. No work required or desired of me.
Then officially retired, with two additional years of company medical paid for, then company discounted medical offered until 65.
And, potentially biggest of all, my pension will continue to accrue years of service for these two years of no work, which will result in it being about 15% higher than if I had retired as planned this November.
All this sounds braggy, but this is the only place where I could tell it. It's all just a windfall due to Covid and I'm somewhat conflicted as to how to feel about it.
Anyway, although I'm officially on the company's books for two more years it's irrevocable and I won't be working for them again, so please put CONFIRMED by my name.
That sounds like the kind of deal that you have to print out and keep by the bed. That way, when you wake in the night you have it to hand to convince yourself that it really wasn't just a dream. You really are that lucky. Congratulations.
Post by: Farmgirl on July 21, 2020, 09:56:41 AM
Post by: albireo13 on July 21, 2020, 08:49:46 PM
Post by: Lucky13 on July 22, 2020, 10:49:16 AM
I'm going to give 1 month notice, so my Quit Day will be August 4.
I have been deeply burned out for years, so burned out that I barely know myself anymore and ask myself every day what the hell happened to the person I used to be. I'm pretty good at hiding stress and separating things, but over the last year it's finally started to bleed through into my personal life and not in a positive way.
Thanks so much everyone for sharing. The above sentiment captures my situation. I'm actually enjoying my job more than I ever have, now that I'm working from home, and the little things don't bother me because I know I'm leaving. But there's also this underlying burnout, 20 years of being in the workforce in a highly competitive field has taken its toll. In some ways I don't like the person that I've become. Looking forward to just being myself, without the pressure and stress of having a full-time job... or any job really. :D
Post by: RetireAbroadAt35 on July 22, 2020, 12:51:24 PM
I'm actually enjoying my job more than I ever have, now that I'm working from home, and the little things don't bother me because I know I'm leaving. But there's also this underlying burnout, 20 years of being in the workforce in a highly competitive field has taken its toll. In some ways I don't like the person that I've become. Looking forward to just being myself, without the pressure and stress of having a full-time job... or any job really.Ya took the words right outta my mouth. I'm working from home and getting some satisfaction from helping at least indirectly with pandemic response, but I'm also tired of the competitive, aggressive nature of this industry and 20 years of managing that is enough for me too.
Post by: LadyMaWhiskers on July 23, 2020, 08:11:30 AM
??/??/20 LadyMaWhiskers
03/05/2020 LadyMaWhiskers CONFIRMED
Post by: ItsALongStory on July 24, 2020, 03:35:36 PM
Tomorrow is my 39th birthday, it's super cool to be able to take an extended break prior to my 40 year old milestone. I wouldn't say I'm 100% FIREd but the intent is certainly to not go back to full time working for the man. The plan had been 2022 but due to some circumstances (accelerated contributions this year & COVID concerns about the future of travel) have expedited our planning.
Post by: Linea_Norway on July 26, 2020, 08:27:34 AM
Congrats to those who made the plunge.
Post by: Megs193 on July 26, 2020, 12:11:15 PM
Post by: Linea_Norway on July 26, 2020, 12:52:11 PM
I was planning on joining you guys and I gave my company a one month notice last week. One of my coworkers will be going out on maternity leave in 2 weeks so they asked me to stay on and work one day a week in the office and one day a week from home. I have agreed to it through 12/14 when my coworker is supposed to return. I wish I was joining you now but I felt bad leaving my coworkers so short staffed. Hopefully the next few months are more enjoyable because I know the end is near.
Welcome to the cohort. Working two days a week if I understand it right, sounds like a reasonable deal, where you have lots of time off. But don't let them convince you another time. Now they have half a year to organize a replacement for you. If your coworker chooses to extend her maturnity leave, it is your employer's problem, not yours.
Post by: Linea_Norway on July 26, 2020, 12:56:32 PM
Yesterday I told my boss that I'll be leaving the company at or around September 15th. We agreed to hold off on telling HR until early August due to personal reasons.
Tomorrow is my 39th birthday, it's super cool to be able to take an extended break prior to my 40 year old milestone. I wouldn't say I'm 100% FIREd but the intent is certainly to not go back to full time working for the man. The plan had been 2022 but due to some circumstances (accelerated contributions this year & COVID concerns about the future of travel) have expedited our planning.
Welcome to the cohort.
Post by: Linea_Norway on July 26, 2020, 12:59:00 PM
??/??/20 LadyMaWhiskers
03/05/2020 LadyMaWhiskers CONFIRMED
Done.
Congrats on being FIRED for a few months.
Post by: Linea_Norway on July 26, 2020, 01:07:57 PM
Put me down as retired.
I was planning to go in November with a small chance of extending to February, but the company didn't know that. They recently came out with a number of early retirement and leave options. The one I got pays me 60% of my full time income for two years with same company medical, vacation, sick leave, and company 401k contribution plus a few other active employee benefits. No work required or desired of me.
Then officially retired, with two additional years of company medical paid for, then company discounted medical offered until 65.
And, potentially biggest of all, my pension will continue to accrue years of service for these two years of no work, which will result in it being about 15% higher than if I had retired as planned this November.
All this sounds braggy, but this is the only place where I could tell it. It's all just a windfall due to Covid and I'm somewhat conflicted as to how to feel about it.
Anyway, although I'm officially on the company's books for two more years it's irrevocable and I won't be working for them again, so please put CONFIRMED by my name.
Wow, a great package. Congrats on getting that.
Post by: Linea_Norway on July 26, 2020, 01:19:54 PM
Post by: bownyboy on July 28, 2020, 01:52:46 AM
That’s assuming france doesn’t have another lockdown.
Some of my colleagues are doing the same, one couple drove to Germany for a month, again in Airbnb right by mountains and lakes, cycling every morning and evening.
Lockdown has really given us a taste of retirement life.
I’m even thinking I could easily carry on working remotely like this if the opportunity is there...
Post by: WYOGO on July 29, 2020, 01:03:12 PM
Put me down as retired.
I was planning to go in November with a small chance of extending to February, but the company didn't know that. They recently came out with a number of early retirement and leave options. The one I got pays me 60% of my full time income for two years with same company medical, vacation, sick leave, and company 401k contribution plus a few other active employee benefits. No work required or desired of me.
Then officially retired, with two additional years of company medical paid for, then company discounted medical offered until 65.
And, potentially biggest of all, my pension will continue to accrue years of service for these two years of no work, which will result in it being about 15% higher than if I had retired as planned this November.
All this sounds braggy, but this is the only place where I could tell it. It's all just a windfall due to Covid and I'm somewhat conflicted as to how to feel about it.
Anyway, although I'm officially on the company's books for two more years it's irrevocable and I won't be working for them again, so please put CONFIRMED by my name.
Wow, a great package. Congrats on getting that.
Agreed! Impressive. I'd be gone too. As it stands right now, I am very much in demand in a flourishing field unfortunately.
Still on a 2020 track for an 11/6 departure nonetheless, but have applied for a new job within. I honestly don't care either way, though I will likely extend the date if I get the job.
Has the pandemic delayed things for many? Obviously it has positively accelerated it for some.
Post by: Dicey on July 29, 2020, 02:13:35 PM
Put me down as retired.My walking partner is [something] in our city. Recently, she was telling me that the city was going to offer retirement packages to help balance the Covid-turned-upside-down budget. She explained the details of how it's going to work. For a moment, I felt a sharp pang of envy for those lucky individuals. Then I remembered I've been FIRE since 2012...
I was planning to go in November with a small chance of extending to February, but the company didn't know that. They recently came out with a number of early retirement and leave options. The one I got pays me 60% of my full time income for two years with same company medical, vacation, sick leave, and company 401k contribution plus a few other active employee benefits. No work required or desired of me.
Then officially retired, with two additional years of company medical paid for, then company discounted medical offered until 65.
And, potentially biggest of all, my pension will continue to accrue years of service for these two years of no work, which will result in it being about 15% higher than if I had retired as planned this November.
All this sounds braggy, but this is the only place where I could tell it. It's all just a windfall due to Covid and I'm somewhat conflicted as to how to feel about it.
Anyway, although I'm officially on the company's books for two more years it's irrevocable and I won't be working for them again, so please put CONFIRMED by my name.
Interestingly, some departments have strict limits on how many people can take the offer. Otherwise, their ranks would be decimated. I'll bet there are some secret mustachians in those groups.
Post by: HappyCheerE on August 01, 2020, 04:04:57 PM
Post by: ItsALongStory on August 02, 2020, 07:50:18 AM
Post by: SugarMountain on August 03, 2020, 11:16:00 PM
Post by: Dicey on August 03, 2020, 11:46:06 PM
Update: today was my last day. I successfully negotiated a severance.Well, that's quite a cliffhanger!
Post by: Linea_Norway on August 04, 2020, 12:38:49 AM
Update: today was my last day. I successfully negotiated a severance.
Congrats on your retirement and with package.
Post by: Rcc on August 04, 2020, 12:31:27 PM
Everyone here is healthy and well, firstly. Despite the events of the first half of the year, we did hit FI in APR-May. As our son hasn’t finished college yet, and other factors I mentioned upthread - I’m going to hang out in my low risk, low stress gig for now. COVID has turned it from a “explain why you want to WFH” to mandatory “work from anywhere” gig.
Linea would you be kind enough to flag me as a SWAMI?
Post by: Lucky13 on August 04, 2020, 05:08:37 PM
Surprisingly my boss volunteered to take on most of the work related to transitioning my work and finding a replacement, so my last few weeks will be easier than I expected. Haven't told the folks that I'm managing yet, but now that things are set in motion there's no going back, so the hardest part is over. I am so relieved, and excited!
Post by: SugarMountain on August 04, 2020, 11:02:25 PM
Update: today was my last day. I successfully negotiated a severance.Well, that's quite a cliffhanger!
I guess it did leave a few details out. Long version:
-Two years ago I tried to quit but got talked into changing roles. Moved out of management, which was great, but I knew it was only a stop gap.
-Last year I thought about leaving but decided to stick it out for OMY.
-This year I made it through stock vesting and heard there were layoffs happening in some parts of the company.
-Talked to my boss about potentially getting a package. He said there were layoffs, but the list had already been submitted. He said he'd ask but it was a long shot. But he and his bosses were able to make it happen after all. I didn't know when until late last week and we had our separation meeting yesterday. I've been there a long time so severance was decent and completely unexpected. (At that first meeting a month ago my plan was to resign if I couldn't get a package.) I almost didn't ask for it because I thought no way would they give it to me, but it's a reminder that thems that asks gets. And by not doing it the financial samurai way, my bosses still like me and have told me that if I ever want to come back to let them know, which is nice. I'm very grateful to them.
So tl;dr version: did T(wo)MY after being FI, asked for and received severance and am now done working for the man. It still has not sunk in.
Post by: MarcherLady on August 05, 2020, 12:53:26 AM
SugarMountain, that's inspiring news. I have my meeting with my boss today to ask about packages. I'm a little nervous - not sure why, I plan to resign if she can't get me anything and so what's the worst that can happen!
Post by: SugarMountain on August 05, 2020, 08:00:27 AM
Hi Rcc & congratulations Lucky13!
SugarMountain, that's inspiring news. I have my meeting with my boss today to ask about packages. I'm a little nervous - not sure why, I plan to resign if she can't get me anything and so what's the worst that can happen!
I totally get that emotion, I was too. Frankly, I was shocked but pleased with his reaction. In the 25 years I worked there, I had three different primary bosses and only had him for the last 4 years. Just take a deep breath and go for it. The worst they can say is "no".
Post by: Linea_Norway on August 06, 2020, 12:13:45 PM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/02/20 CptCool
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 SpreadsheetMan
08/07/20 HappyCheerE (@55) CONFIRMED
08/14/20 BeanCounter @42 CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/31/20 fishnfool Accepted retirement package by employer
08/31/20 FrugalAussie (@54) Given notice
09/01/20 RetireAbroadAt35
09/01/20 rab-bit's wife
09/04/20 Lucky13 (@44) Given notice
09/11/20 ItsALongStory (@39) Given notice
09/25/20 apurplelife
09/30/20 MarcherLady
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/??/20 Dan23
09/??/20 2sk22 (or November)
09/30/20 Farmgirl (@61) Given notice
10/15/20 Unique User (@50)
11/06/20 WYOGO
11/10/20 exit2019
11/20/20 Alternatepriorities
12/01/20 FireLane (@38)
12/11/20 Freedomsaver (@38)
12/14/20 Megs123 Given notice
12/18/20 bownyboy
12/31/20 BFGirl
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 honneyfill (or earlier)
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 texxan1
??/??/20 EscapeVelocity2020
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: Linea_Norway on August 06, 2020, 12:21:05 PM
Hi Rcc & congratulations Lucky13!
SugarMountain, that's inspiring news. I have my meeting with my boss today to ask about packages. I'm a little nervous - not sure why, I plan to resign if she can't get me anything and so what's the worst that can happen!
But of you get a package, you also resign, right? Or does a package imply working longer than two weeks?
Post by: MarcherLady on August 06, 2020, 12:43:43 PM
Hi Rcc & congratulations Lucky13!
SugarMountain, that's inspiring news. I have my meeting with my boss today to ask about packages. I'm a little nervous - not sure why, I plan to resign if she can't get me anything and so what's the worst that can happen!
But of you get a package, you also resign, right? Or does a package imply working longer than two weeks?
Oh, yes, in my organisation 'resigning' impies you have not got a package, but just left. If they give me a package I leave with £, after what would probably be a 3 month notice period. If I just resign, I leave with no extra cash, and only have to give a four week notice period. I'll be done this year, either way :-D
The conversation went well in as much as I made all the points I wanted to make, and she's going to take it to her boss, but she said she thought there would be very little chance. We'll see. Hopefully I'll hear something tomorrow, because after that I'm on leave for a week, and then boss is on leave for two, and by then we're into September - I need to get on with this before nerves get the better of me again!
Post by: SugarMountain on August 06, 2020, 02:44:11 PM
Hi Rcc & congratulations Lucky13!
SugarMountain, that's inspiring news. I have my meeting with my boss today to ask about packages. I'm a little nervous - not sure why, I plan to resign if she can't get me anything and so what's the worst that can happen!
But of you get a package, you also resign, right? Or does a package imply working longer than two weeks?
In my case, officially my job was eliminated and I was laid off. Theoretically, I could apply for unemployment, but I haven't decided if I'm going to do that.
Post by: SugarMountain on August 06, 2020, 02:47:07 PM
The conversation went well in as much as I made all the points I wanted to make, and she's going to take it to her boss, but she said she thought there would be very little chance. We'll see. Hopefully I'll hear something tomorrow, because after that I'm on leave for a week, and then boss is on leave for two, and by then we're into September - I need to get on with this before nerves get the better of me again!
You never know, my boss had said he thought there was very little chance too. I think a lot depends on if your company was already doing layoffs.
Post by: Rubyvroom on August 08, 2020, 09:11:41 AM
I started my own consulting firm about a year ago to quit my stress-riddled job. That choice has worked out nicely, even in the midst of a pandemic. Skilled, flexible temp staff seem to be in high demand because we're a casual workforce and we bring our own healthcare... when my current client asked if I could flex my hours for cost savings, I happily took an extra day off a week, and that only lasted a month before they decided they needed the hours back. It's a nice low stress situation - to be needed and appreciated but to have no real skin in the game and no involvement in the politics. Also, I've been 100% remote since March and that will likely go on through the end of the year at least.
My spouse "retired" when his employer fired 50% of the workforce back in March. He survived the cut, but wasn't about to stick around for the fallout. Being FI meant we easily decided to eliminate that stress, and that's turned out to be a good choice with what we've heard from his former colleagues. So we've throttled back significantly - health and wellness have been prioritized above money and savings now, after enduring so many years of the opposite. While we won't stop "working" in the conventional sense in 2020, I think 2021 is still in our sights, and taking the more gradual approach to FIRE has worked well for us (even though it slowed our trajectory slightly).
Best of luck to the rest of the cohort, and congrats to those that have achieved FIRE in probably one of the weirdest years tracked on this website!
Post by: HappyCheerE on August 08, 2020, 01:09:50 PM
My biggest worry was health insurance but I was able to immediately go on the ACA exchange and get a policy that includes our primary care physician and will save us at least $1600/year! I won't really believe it until I have our new insurance cards in time for 9/1, but if anything goes wrong we can still go on COBRA until open enrollment - that would be very expensive but I had the possibility built in so we'd be fine.
I do lose all my accrued sick time (13 weeks!) which I had wanted to "spend" some of on kidney donation, but the pandemic put the kibosh on that... oh well. 3 1/2 weeks of vacation getting cashed out, though, which is a nice little bump. And to my extreme surprise, the 10% retirement match continues on my casual hours at least through the end of the year - an unexpected raise!
Congratulations to all of us in this cohort - as Rubyvroom says, it's a memorable one in which to make this transition!
Post by: Linea_Norway on August 08, 2020, 01:11:43 PM
I think I'll have to float into the OMY category, not because of cold feet, but just because of the way the timing worked out. We sold our home last fall and signed an apartment lease through April 2021 with the plan to build our own home on our land by that time. Covid has somewhat messed with that timeline, only because building materials are on back order, but I still hope we're on track for a Q1 2021 exit.
I started my own consulting firm about a year ago to quit my stress-riddled job. That choice has worked out nicely, even in the midst of a pandemic. Skilled, flexible temp staff seem to be in high demand because we're a casual workforce and we bring our own healthcare... when my current client asked if I could flex my hours for cost savings, I happily took an extra day off a week, and that only lasted a month before they decided they needed the hours back. It's a nice low stress situation - to be needed and appreciated but to have no real skin in the game and no involvement in the politics. Also, I've been 100% remote since March and that will likely go on through the end of the year at least.
My spouse "retired" when his employer fired 50% of the workforce back in March. He survived the cut, but wasn't about to stick around for the fallout. Being FI meant we easily decided to eliminate that stress, and that's turned out to be a good choice with what we've heard from his former colleagues. So we've throttled back significantly - health and wellness have been prioritized above money and savings now, after enduring so many years of the opposite. While we won't stop "working" in the conventional sense in 2020, I think 2021 is still in our sights, and taking the more gradual approach to FIRE has worked well for us (even though it slowed our trajectory slightly).
Best of luck to the rest of the cohort, and congrats to those that have achieved FIRE in probably one of the weirdest years tracked on this website!
Best of luck with your house building project. And I understand that your current working situation is quite satisfying.
Post by: Farmgirl on August 10, 2020, 06:59:44 AM
Linea...thank you for keeping this list. It has provided so much entertainment and hope for me!
And...I only have 37 more work days left. I'm so ready to go. As far as I know, they don't have a replacement, but maybe they do, as they are very secretive. They are telling my co-workers (who know I am retiring) that the new workstation in the hall is for some help when I go for surgery (which may or may not be scheduled prior to my official retirement exit). Whatever. The owner hasn't said anything to me, other than hello and here's the mail to sort. You would think after 8 years here you'd hear "Gee we hate to see you go..." or something.
Should have listened to DH and given them 2 weeks.
Post by: Linea_Norway on August 10, 2020, 12:01:19 PM
HappyCheer...so happy for you!
Linea...thank you for keeping this list. It has provided so much entertainment and hope for me!
And...I only have 37 more work days left. I'm so ready to go. As far as I know, they don't have a replacement, but maybe they do, as they are very secretive. They are telling my co-workers (who know I am retiring) that the new workstation in the hall is for some help when I go for surgery (which may or may not be scheduled prior to my official retirement exit). Whatever. The owner hasn't said anything to me, other than hello and here's the mail to sort. You would think after 8 years here you'd hear "Gee we hate to see you go..." or something.
Should have listened to DH and given them 2 weeks.
They do the ignoring tactic? Bad social behaviour. After 8 years they could have been nicer.
Make a list to cross off for the last 37 days, maybe that is motivating. After working a long life, 37 days go by quite fast.
Post by: BeanCounter on August 14, 2020, 11:22:07 AM
Post by: Farmgirl on August 14, 2020, 12:17:08 PM
Post by: Linea_Norway on August 16, 2020, 03:31:14 AM
I did it!!!! I’m done! Turned in my stuff this morning and now we are packing up to head to the beach!
Congrats! Enjoy your freedom.
Post by: FireLane on August 16, 2020, 12:51:33 PM
I reduced my work schedule to 4 days a week in 2018, and my original plan was to retire in July of this year. When the pandemic hit and the markets dropped, I moved my date to December.
But the market rebounded much faster than I expected, and now I'm well above my FIRE number. I could retire tomorrow if I really wanted to. But I'm not going to while the pandemic is raging, because I'd like to ride out a possible double-dip crash and because I don't see any point in quitting if I can't travel anywhere.
However, there's no reason I still need to work this much, so I proposed to my manager that I further reduce my schedule to 3 days a week. He said I could do it "unofficially," and I'm not sure what he meant by that.
Was he telling me to only log on 3 days a week, but continue getting paid for 4? That would be more money for me, so I feel silly complaining about it, but it feels less than honest. On the other hand, my manager is the only one who has any reason to care, so long as my productivity is acceptable to him, where's the harm?
In the weeks ahead, I think I'm going to give this a test run. I mean, the worst they can do is fire me, right?
Post by: ysette9 on August 16, 2020, 03:03:25 PM
Hi, class of 2020! I'm in a weird spot.That is an awkward spot to be in because it feels like you are being directed to cheat. Does that mean just check your email the morning of Day 4 each week and then have the day off? Be as productive in three days as you would be in four? I guess it gets at how hard it can be to really tell what people are doing at home except measuring by pure productivity.
I reduced my work schedule to 4 days a week in 2018, and my original plan was to retire in July of this year. When the pandemic hit and the markets dropped, I moved my date to December.
But the market rebounded much faster than I expected, and now I'm well above my FIRE number. I could retire tomorrow if I really wanted to. But I'm not going to while the pandemic is raging, because I'd like to ride out a possible double-dip crash and because I don't see any point in quitting if I can't travel anywhere.
However, there's no reason I still need to work this much, so I proposed to my manager that I further reduce my schedule to 3 days a week. He said I could do it "unofficially," and I'm not sure what he meant by that.
Was he telling me to only log on 3 days a week, but continue getting paid for 4? That would be more money for me, so I feel silly complaining about it, but it feels less than honest. On the other hand, my manager is the only one who has any reason to care, so long as my productivity is acceptable to him, where's the harm?
In the weeks ahead, I think I'm going to give this a test run. I mean, the worst they can do is fire me, right?
Post by: FireLane on August 17, 2020, 09:10:37 AM
That is an awkward spot to be in because it feels like you are being directed to cheat. Does that mean just check your email the morning of Day 4 each week and then have the day off? Be as productive in three days as you would be in four? I guess it gets at how hard it can be to really tell what people are doing at home except measuring by pure productivity.
It does feel a little like that, yes. I'm going to have to ask my manager to clarify his expectations.
I wonder if this is his way of telling me that I wouldn't get formal approval from the higher-ups, but he's not going to stand in my way because he doesn't want to lose me as an employee. I haven't really told him about my FIRE plans, but it's not hard to put 2 and 2 together.
Post by: JoJo on August 17, 2020, 09:22:03 AM
Other than that, your story is similar to mine. I'm already at 60% (for the last 3.5 years). I was going to retire by at least July 10 but hadn't told my boss, then this COVID thing hit. My plan was to do extensive travel, including abroad, upon retirement. I'm not sure what to do now, but probably staying on until the end of the year to keep the health insurance. The WFH and part time has allowed me to visit family this summer, and I've already saved several thousand $ more than I had planned due to working after July 10.
Post by: Peter Parker on August 17, 2020, 09:40:13 AM
Was he telling me to only log on 3 days a week, but continue getting paid for 4? That would be more money for me, so I feel silly complaining about it, but it feels less than honest. On the other hand, my manager is the only one who has any reason to care, so long as my productivity is acceptable to him, where's the harm?
Are you hourly or salary--If you are salary, no problem so long as the work is getting done....
Post by: Freedomsaver on August 17, 2020, 11:04:16 PM
My last day is 12/11/20 38y
Post by: Linea_Norway on August 18, 2020, 01:48:02 AM
I’m joining but I probably don’t have enough to really retire. I plan on taking a couple years off at least to unwind and maybe do some slow traveling.
My last day is 12/11/20 38y
Welcome.
Post by: ItsALongStory on August 18, 2020, 08:05:36 AM
I’m joining but I probably don’t have enough to really retire. I plan on taking a couple years off at least to unwind and maybe do some slow traveling.Welcome! Pretty much same story as me but my wife does have a pension that will cover our expenses.
My last day is 12/11/20 38y
What areas are you intending to slow travel through?
Post by: fishnfool on August 18, 2020, 07:00:18 PM
My last day is a F- U day but they call it furlough...lol
Post by: Freedomsaver on August 19, 2020, 03:28:14 PM
Post by: ItsALongStory on August 19, 2020, 07:06:33 PM
Post by: RWTL on August 20, 2020, 03:47:28 AM
Really going crazy that my boss won't let me share publicly that I'm leaving. My final day is September 11th, but with 2 weeks of vacation on the books I want to still take some time off. I suppose that means I have about 2 weeks left.
I've always told people that reported to me that it was their news to share, but I would send an announcement if they would like. It is crazy that your boss told you not to share this.
Post by: Linea_Norway on August 20, 2020, 07:31:42 AM
Really going crazy that my boss won't let me share publicly that I'm leaving. My final day is September 11th, but with 2 weeks of vacation on the books I want to still take some time off. I suppose that means I have about 2 weeks left.
I've always told people that reported to me that it was their news to share, but I would send an announcement if they would like. It is crazy that your boss told you not to share this.
This is how it went with me too. I let my boss write it. It is hard enough for your coworkers to despair about someone leaving. Not letting them knowvis pretty cruel. And if someone would ask you a question about next year, would you need to lie for your boss?
Post by: LightTripper on August 20, 2020, 10:04:42 AM
Hope you are all enjoying (or looking forward to your very imminent) freedom!
Post by: ItsALongStory on August 20, 2020, 10:24:19 AM
He is happy for me to share next week or the week thereafter. I will be 100% transparent with those that I talk to or that ask me for details if the joint announcement is vague. He isn't being malicious in his intent but I think he wants to avoid any churn caused by an announcement without a plan on how to solve for the loss of a resource during a time where backfilling is unlikely.
Post by: FireLane on August 20, 2020, 05:49:33 PM
Hi, class of 2020! I'm in a weird spot.
I reduced my work schedule to 4 days a week in 2018, and my original plan was to retire in July of this year. When the pandemic hit and the markets dropped, I moved my date to December.
But the market rebounded much faster than I expected, and now I'm well above my FIRE number. I could retire tomorrow if I really wanted to. But I'm not going to while the pandemic is raging, because I'd like to ride out a possible double-dip crash and because I don't see any point in quitting if I can't travel anywhere.
However, there's no reason I still need to work this much, so I proposed to my manager that I further reduce my schedule to 3 days a week. He said I could do it "unofficially," and I'm not sure what he meant by that.
Was he telling me to only log on 3 days a week, but continue getting paid for 4? That would be more money for me, so I feel silly complaining about it, but it feels less than honest. On the other hand, my manager is the only one who has any reason to care, so long as my productivity is acceptable to him, where's the harm?
In the weeks ahead, I think I'm going to give this a test run. I mean, the worst they can do is fire me, right?
I talked to my manager this week and asked him to clarify what his expectations are. I have a clearer picture now of how this will work.
I already have one day off per week from my previous part-time agreement. The deal is that the additional day I'm going to start taking in September won't be tracked with the same calendar code, but will be counted as an "excused by manager" day.
Technically, I'm supposed to make up those eight hours at a different time. He said that if I want to work a little earlier or a little later on my three remaining weekdays, or log a few hours on the weekend, I can, but he's not going to nickel-and-dime me about it.
This is a less formal arrangement, and I'm sure that's the idea for my boss and his bosses - they don't consider it a long-term thing. But it means more money in my pocket, and I'd be happy to do this until there's a vaccine and then quit. Now let's see if any of those Phase III trials pan out.
Post by: Dicey on August 22, 2020, 12:16:41 AM
Glad you asked for clarification. Sounds pretty reasonable. He values you and it seems like he's working the system to keep you. Kudos!Hi, class of 2020! I'm in a weird spot.
I reduced my work schedule to 4 days a week in 2018, and my original plan was to retire in July of this year. When the pandemic hit and the markets dropped, I moved my date to December.
But the market rebounded much faster than I expected, and now I'm well above my FIRE number. I could retire tomorrow if I really wanted to. But I'm not going to while the pandemic is raging, because I'd like to ride out a possible double-dip crash and because I don't see any point in quitting if I can't travel anywhere.
However, there's no reason I still need to work this much, so I proposed to my manager that I further reduce my schedule to 3 days a week. He said I could do it "unofficially," and I'm not sure what he meant by that.
Was he telling me to only log on 3 days a week, but continue getting paid for 4? That would be more money for me, so I feel silly complaining about it, but it feels less than honest. On the other hand, my manager is the only one who has any reason to care, so long as my productivity is acceptable to him, where's the harm?
In the weeks ahead, I think I'm going to give this a test run. I mean, the worst they can do is fire me, right?
I talked to my manager this week and asked him to clarify what his expectations are. I have a clearer picture now of how this will work.
I already have one day off per week from my previous part-time agreement. The deal is that the additional day I'm going to start taking in September won't be tracked with the same calendar code, but will be counted as an "excused by manager" day.
Technically, I'm supposed to make up those eight hours at a different time. He said that if I want to work a little earlier or a little later on my three remaining weekdays, or log a few hours on the weekend, I can, but he's not going to nickel-and-dime me about it.
This is a less formal arrangement, and I'm sure that's the idea for my boss and his bosses - they don't consider it a long-term thing. But it means more money in my pocket, and I'd be happy to do this until there's a vaccine and then quit. Now let's see if any of those Phase III trials pan out.
Post by: 2sk22 on August 23, 2020, 06:06:41 AM
Post by: Linea_Norway on August 23, 2020, 06:35:24 AM
My situation is weird - I told my company that I wanted to retire before the end of the year and it didn't go over well. Basically, my resignation was not accepted - they want me to stay on indefinitely. I am just going to have to be firm about this but I really feel like a puppy that's followed me home!
Not accepted? What can your boss do about that?
Post by: 2sk22 on August 23, 2020, 06:40:33 AM
My situation is weird - I told my company that I wanted to retire before the end of the year and it didn't go over well. Basically, my resignation was not accepted - they want me to stay on indefinitely. I am just going to have to be firm about this but I really feel like a puppy that's followed me home!
Not accepted? What can your boss do about that?
Oh, I could walk out any time I want but people are depending on me to help them and I feel some sense of obligation to them. I basically have to get them to stop depending on me so much. Promises to be an interesting few weeks ahead.
Post by: rab-bit on August 23, 2020, 07:38:53 AM
My situation is weird - I told my company that I wanted to retire before the end of the year and it didn't go over well. Basically, my resignation was not accepted - they want me to stay on indefinitely. I am just going to have to be firm about this but I really feel like a puppy that's followed me home!
Not accepted? What can your boss do about that?
Oh, I could walk out any time I want but people are depending on me to help them and I feel some sense of obligation to them. I basically have to get them to stop depending on me so much. Promises to be an interesting few weeks ahead.
I disagree. It is on them to stop depending on you so much. They need to figure this out, that's what management gets paid to do. How long you choose to give them to do that is strictly your call.
Post by: ItsALongStory on August 23, 2020, 07:59:43 AM
How long and under what terms, I'd say. Assuming you have little or no risk of needing to re-enter the workforce later you have a great bargaining position.My situation is weird - I told my company that I wanted to retire before the end of the year and it didn't go over well. Basically, my resignation was not accepted - they want me to stay on indefinitely. I am just going to have to be firm about this but I really feel like a puppy that's followed me home!
Not accepted? What can your boss do about that?
Oh, I could walk out any time I want but people are depending on me to help them and I feel some sense of obligation to them. I basically have to get them to stop depending on me so much. Promises to be an interesting few weeks ahead.
I disagree. It is on them to stop depending on you so much. They need to figure this out, that's what management gets paid to do. How long you choose to give them to do that is strictly your call.
In the end nobody is irreplaceable so don't feel guilty about this decision. They will make it through.
Post by: SugarMountain on August 23, 2020, 11:23:28 AM
How long and under what terms, I'd say. Assuming you have little or no risk of needing to re-enter the workforce later you have a great bargaining position.My situation is weird - I told my company that I wanted to retire before the end of the year and it didn't go over well. Basically, my resignation was not accepted - they want me to stay on indefinitely. I am just going to have to be firm about this but I really feel like a puppy that's followed me home!
Not accepted? What can your boss do about that?
Oh, I could walk out any time I want but people are depending on me to help them and I feel some sense of obligation to them. I basically have to get them to stop depending on me so much. Promises to be an interesting few weeks ahead.
I disagree. It is on them to stop depending on you so much. They need to figure this out, that's what management gets paid to do. How long you choose to give them to do that is strictly your call.
In the end nobody is irreplaceable so don't feel guilty about this decision. They will make it through.
It's funny, two years ago when I tried to walk away the first time I ultimately took 5 weeks of vacation and moved to an independent contributor role, leaving my team of 65 in someone else's hands, I volunteered to help with the transition and provided input on how I thought things could be organized. They did not take me up on any of it. We're not indispensable, no matter how much we think we are. And now that I've quit for real, I half expected to hear from the guys who took over my projects. But I won't. They'll figure it out.
Post by: 2sk22 on August 23, 2020, 02:11:14 PM
It's funny, two years ago when I tried to walk away the first time I ultimately took 5 weeks of vacation and moved to an independent contributor role, leaving my team of 65 in someone else's hands, I volunteered to help with the transition and provided input on how I thought things could be organized. They did not take me up on any of it. We're not indispensable, no matter how much we think we are. And now that I've quit for real, I half expected to hear from the guys who took over my projects. But I won't. They'll figure it out.
Absolutely agree! I just need to stop feeling guilty about walking away.
Post by: LightTripper on August 24, 2020, 04:07:15 AM
It's funny, two years ago when I tried to walk away the first time I ultimately took 5 weeks of vacation and moved to an independent contributor role, leaving my team of 65 in someone else's hands, I volunteered to help with the transition and provided input on how I thought things could be organized. They did not take me up on any of it. We're not indispensable, no matter how much we think we are. And now that I've quit for real, I half expected to hear from the guys who took over my projects. But I won't. They'll figure it out.
It's funny, I had a dream about this last night, where I left my firm and things actually *did* fall apart. I don't often remember my dreams any more so it was a strange one (probably linked to the fact I am due to talk to my boss today about going on a flexible contract!)
I work with a lot of "difficult" people, and I tend to be the smoother-over, sticking-togetherer, creating systems where needed, fixer-upperer, persuade not-to-leaverer person. So it's easy to feel "indispensable" because I have fingers in many pies (dykes? Mixed metaphors FTW).
What I have realised more as I've got older though is that I'm not actually doing anybody any favours here long term by playing that role. Sticking a band aid over a crack just allows the crack get bigger and bigger until it gets to the point where the band aid fails and you end up with a critical failure (whereas if you'd addressed the problem properly at the start, you might have been able to avoid that).
I worry that I have been exactly that band aid, and that things may go pretty wrong when I leave because I have been effectively facilitating all kinds of bad behaviour. I will leave behind a corporate culture I am not very proud of, covered over by a load of sticky tape. I don't think I personally have the skills/energy needed to change the corporate culture (given a big personality or two driving it pretty relentlessly in the opposite direction to the one I would go): but actually it probably would have been better for them and for me if I'd stopped with the sticky tape and moved on sooner, leaving a smaller crisis that may have been easier to fix.
Anyway, it's water under the bridge, and life-long learning is a thing, for me and for them. But even if my dream comes true and things do start to fall apart after I go (and who knows, probably they will sail on through, and just do things differently!) it will actually be because of my failings, rather than my strengths.
I feel strangely unemotional about that. It's not something to be proud of, or ashamed of: it's just who I am. But it does make it easier in a way to walk away. Staying out of duty is really just a band-aid solution. At some point they (and we) just have to put our big-girl pants on and get on with the rest of our lives.
Post by: Freedomin5 on August 24, 2020, 06:00:36 AM
Post by: albireo13 on August 26, 2020, 11:45:36 AM
Yay!!
Post by: Maenad on August 26, 2020, 12:13:21 PM
In the end nobody is irreplaceable so don't feel guilty about this decision. They will make it through.
This just reminded me - I got along well with the vast majority of my coworkers in my last role. Oh they were going to miss me so much. Oh they wanted me to call in to the informal staff meetings... for about 6 weeks. I haven't heard from them in over 3 months now.
Don't get me wrong, I'm not upset, and I haven't exactly been making attempts to connect either. It's just.. people move on. And that's OK.
Well, am almost there. The 31st is my last day but, that is a Monday and I don't want to go in so … I will burn a vacation day and Friday is my last day! The day after tomorrow!!!Congratulations!
Yay!!
Post by: Linea_Norway on August 26, 2020, 02:08:23 PM
Well, am almost there. The 31st is my last day but, that is a Monday and I don't want to go in so … I will burn a vacation day and Friday is my last day! The day after tomorrow!!!
Yay!!
Good idea. One Monday less to work. I updated the list.
Only two days left to work!
Post by: ItsALongStory on August 26, 2020, 06:21:53 PM
Well, am almost there. The 31st is my last day but, that is a Monday and I don't want to go in so … I will burn a vacation day and Friday is my last day! The day after tomorrow!!!Congrats, I have 8 business days left. Might cancel one of my days off but ultimately I'd prefer to have an extra day off vs getting it paid out. I might just use a sick day instead which otherwise isn't paid out :-)
Yay!!
Post by: bmjohnson35 on August 26, 2020, 07:40:39 PM
Well, am almost there. The 31st is my last day but, that is a Monday and I don't want to go in so … I will burn a vacation day and Friday is my last day! The day after tomorrow!!!
Yay!!
Congrats and enjoy!
Post by: Much Fishing to Do on August 28, 2020, 07:16:09 AM
My biggest worry was health insurance but I was able to immediately go on the ACA exchange and get a policy that includes our primary care physician and will save us at least $1600/year! I won't really believe it until I have our new insurance cards in time for 9/1, but if anything goes wrong we can still go on COBRA until open enrollment - that would be very expensive but I had the possibility built in so we'd be fine.
Nice. Yeah I think there was the stretch of time where Post-FIRE health insurance was becoming more and more of a worry because of the quickly increasing expense, but now I think we're into a stretch where employers are covering/subsidizing less and less of that premium anyway, so its no longer that big a loss when you leave for many, its just the same (significant) expense it was before retiring.
Post by: Farmgirl on August 28, 2020, 09:08:07 AM
I think "overwhelm" means that my replacement goes screaming into the parking lot when the poor thing realizes what a mess she just got herself into. Too bad. She seems nice.
In other news, the company is paying out 18.5 days of vacation into October. That will tide me over nicely until we get our first SS check.
Post by: Linea_Norway on August 29, 2020, 12:42:44 AM
I got my marching orders to train my replacement for the next 22 work days. Boss says not to "overwhelm" her and only give her one new thing every 3 days. So that means she will only learn 7 things before I go.
I think "overwhelm" means that my replacement goes screaming into the parking lot when the poor thing realizes what a mess she just got herself into. Too bad. She seems nice.
In other news, the company is paying out 18.5 days of vacation into October. That will tide me over nicely until we get our first SS check.
It probably means that you have been working like a super woman. Poor replacement. Just try to teach her the things that you think only you know. And enjoy your vacation. It is not your problem to train your replacement.
Post by: albireo13 on August 30, 2020, 04:44:30 PM
Friday the 28th was my last day! I walked in the office bldg, cranked out some emails, status reports, and made a list of outstanding issues for my manager.
Also, spent some time in the lab doing actual work.
Exit meeting at 12:30PM and out the door.
It is surreal. It hasn't sunk in because it's the weekend anyway. I think when Monday comes around I will start to appreciate it.
No more checking work email all hours of the day .... 3-5 meetings a day ....arbitrary milestones ... etc.
OMG ...
Post by: friedmmj on August 30, 2020, 05:12:32 PM
I did it!!!
Friday the 28th was my last day! I walked in the office bldg, cranked out some emails, status reports, and made a list of outstanding issues for my manager.
Also, spent some time in the lab doing actual work.
Exit meeting at 12:30PM and out the door.
It is surreal. It hasn't sunk in because it's the weekend anyway. I think when Monday comes around I will start to appreciate it.
No more checking work email all hours of the day .... 3-5 meetings a day ....arbitrary milestones ... etc.
OMG ...
Nice! Your Sunday nights just got a whole lot better!
Post by: Trifle on August 31, 2020, 03:51:38 AM
I did it!!!
Friday the 28th was my last day! I walked in the office bldg, cranked out some emails, status reports, and made a list of outstanding issues for my manager.
Also, spent some time in the lab doing actual work.
Exit meeting at 12:30PM and out the door.
It is surreal. It hasn't sunk in because it's the weekend anyway. I think when Monday comes around I will start to appreciate it.
No more checking work email all hours of the day .... 3-5 meetings a day ....arbitrary milestones ... etc.
OMG ...
Congratulations @albireo13!!!!! Very well deserved. May your decompression be smooth and short, may you sleep like a baby, and may you soon find your new groove. :)
Post by: Farmgirl on August 31, 2020, 05:43:24 AM
I got my marching orders to train my replacement for the next 22 work days. Boss says not to "overwhelm" her and only give her one new thing every 3 days. So that means she will only learn 7 things before I go.
I think "overwhelm" means that my replacement goes screaming into the parking lot when the poor thing realizes what a mess she just got herself into. Too bad. She seems nice.
In other news, the company is paying out 18.5 days of vacation into October. That will tide me over nicely until we get our first SS check.
It probably means that you have been working like a super woman. Poor replacement. Just try to teach her the things that you think only you know. And enjoy your vacation. It is not your problem to train your replacement.
I'm just taking it one day at a time. I can't wait to leave.
Post by: Linea_Norway on September 01, 2020, 10:13:31 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
07/??/20 SpreadsheetMan
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter @42 CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
08/31/20 FrugalAussie (@54) Given notice
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 MarcherLady
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 Farmgirl (@61) Given notice
10/01/20 apurplelife Given Notice
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) Given notice
10/15/20 Unique User (@50)
11/06/20 WYOGO
11/10/20 exit2019
11/20/20 Alternatepriorities
12/01/20 FireLane (@38)
12/11/20 Freedomsaver (@38)
12/14/20 Megs123 Given notice
12/18/20 bownyboy
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 honneyfill (or earlier)
12/31/20 2sk22 (parttime out 2020) Given notice
12/??/20 david_shin
12/??/20 MoneyTree (@36)
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 texxan1
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: apurplelife on September 01, 2020, 12:08:49 PM
Post by: joleran on September 01, 2020, 12:53:49 PM
I gave my notice today! My last day is 10/1. This is happening!!!
Congratulations! My hat is now in the ring for 2020 as well since I gave a "part time or I quit" notice.
Post by: RedefinedHappiness on September 02, 2020, 05:56:32 AM
Been thinking about this option myself.
Post by: Linea_Norway on September 02, 2020, 12:05:44 PM
I gave my notice today! My last day is 10/1. This is happening!!!
Congrats. Only one month left!
Post by: Linea_Norway on September 02, 2020, 12:09:33 PM
@RetireAbroadAt35 and @rab-bit's wife, how is you status if you like to share it?
Post by: rab-bit on September 02, 2020, 12:50:37 PM
@fishnfool and @FrugalAussie, I guess you two are confirmed? Congrats in that case.
@RetireAbroadAt35 and @rab-bit's wife, how is you status if you like to share it?
DW's last day was August 11th - we are both free now!
Post by: joleran on September 02, 2020, 01:50:32 PM
Congratulations! How did this ultimatum go down? Did you lead with "part time or I quit"? Or did you request part time and then add the " or I quit" after getting a no? Or after getting hesitation?
Been thinking about this option myself.
I mentioned part time after asking for a sabbatical, both were denied but I got a paid month off. A few weeks back and now I'm being very straightforward and telling them I don't need to work anymore, want part time, and if it's not granted I really appreciate having the opportunity.
Post by: MoneyTree on September 02, 2020, 04:14:50 PM
I'm thinking that I will most likely OMY given all the life changes coming up.
Post by: joleran on September 02, 2020, 07:54:14 PM
Lots of changes for us. DW's last day was 8/28. Also found out not too long ago that baby #2 is on the way! (Coincidentally on the exact same day we hit our "Lean FI" number. Wasn't Lean FI for very long at all!)
I'm thinking that I will most likely OMY given all the life changes coming up.
Wooo, baby life! Can't wait to see how #2 works with #1 myself.
Post by: RedefinedHappiness on September 03, 2020, 06:16:55 AM
Congratulations! How did this ultimatum go down? Did you lead with "part time or I quit"? Or did you request part time and then add the " or I quit" after getting a no? Or after getting hesitation?
Been thinking about this option myself.
I mentioned part time after asking for a sabbatical, both were denied but I got a paid month off. A few weeks back and now I'm being very straightforward and telling them I don't need to work anymore, want part time, and if it's not granted I really appreciate having the opportunity.
Thanks for sharing. I'm curious how this ends up! Good luck!
Post by: Linea_Norway on September 03, 2020, 01:39:44 PM
Lots of changes for us. DW's last day was 8/28. Also found out not too long ago that baby #2 is on the way! (Coincidentally on the exact same day we hit our "Lean FI" number. Wasn't Lean FI for very long at all!)
I'm thinking that I will most likely OMY given all the life changes coming up.
Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Post by: joleran on September 04, 2020, 08:25:22 PM
Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Huh, why do you think so? Haven't seen any particular big costs for them (though I can see medical stuff potentially).
Post by: Freedomin5 on September 05, 2020, 03:21:17 AM
Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Huh, why do you think so? Haven't seen any particular big costs for them (though I can see medical stuff potentially).
For us, it was medical co-pays for check ups and immunizations and diapers (or laundry detergent to wash cloth diapers). Once kiddo was older, we had to feed her more food (no more free breastfeeding), and there costs for uniforms (purchased used), field trips, extracurricular classes and activities. We try to go with the cheaper option, but it still adds up. Every time we take a flight, it’s three tickets instead of two. It’s not a ton of money, but raising another person does cost more than if that person did not exist.
Post by: MoneyTree on September 06, 2020, 04:43:14 PM
Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Huh, why do you think so? Haven't seen any particular big costs for them (though I can see medical stuff potentially).
well, Lean FIRE is by definition, lean. There is no fat, otherwise it would be regular FIRE or Fat FIRE. Although I agree that raising a child does not need to be insanely expensive as the mainstream media makes it out to be, it will increase my yearly expenses by some amount that now needs to be accounted for in my planning.
Plus, with little kids, you can't ask them to suck it up and be willing to flex their frugality muscles to the same degree that I can. for example, if it were just me, I could tough it out without AC in my home on a hot summer day. But with a 3 month old who is not sleeping and possibly getting overheated, yeah...i'm going to get the AC unit.
Post by: Linea_Norway on September 07, 2020, 11:26:34 AM
Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Huh, why do you think so? Haven't seen any particular big costs for them (though I can see medical stuff potentially).
For us, it was medical co-pays for check ups and immunizations and diapers (or laundry detergent to wash cloth diapers). Once kiddo was older, we had to feed her more food (no more free breastfeeding), and there costs for uniforms (purchased used), field trips, extracurricular classes and activities. We try to go with the cheaper option, but it still adds up. Every time we take a flight, it’s three tickets instead of two. It’s not a ton of money, but raising another person does cost more than if that person did not exist.
Thank you for answering. I thought as a childless person, I was not the best suited to answer this.
Post by: Freedomin5 on September 07, 2020, 02:46:43 PM
Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Huh, why do you think so? Haven't seen any particular big costs for them (though I can see medical stuff potentially).
For us, it was medical co-pays for check ups and immunizations and diapers (or laundry detergent to wash cloth diapers). Once kiddo was older, we had to feed her more food (no more free breastfeeding), and there costs for uniforms (purchased used), field trips, extracurricular classes and activities. We try to go with the cheaper option, but it still adds up. Every time we take a flight, it’s three tickets instead of two. It’s not a ton of money, but raising another person does cost more than if that person did not exist.
Thank you for answering. I thought as a childless person, I was not the best suited to answer this.
One of the biggest costs is childcare, either due to actually paying someone to care for your child or due to loss of potential income if one spouse stops working to care for the child. I didn’t include it in my original response because I was assuming both parents were FIRE.
Post by: APowers on September 07, 2020, 10:41:10 PM
My FIRE goal has been "by the time I'm 35" since forever, and here I am at coast/barista FIRE at not-quite 32.
Post by: Trifle on September 08, 2020, 05:21:02 AM
I posted over in the other thread (https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-to-100-fi-(only-if-below-median-household-income!!!)/msg2695784/#msg2695784), but I guess I need to post in here too. Yay!
My FIRE goal has been "by the time I'm 35" since forever, and here I am at coast/barista FIRE at not-quite 32.
Congratulations @APowers !! Very well done.
I've been a huge fan of yours since your epic grocery spending thread -- https://forum.mrmoneymustache.com/share-your-badassity/have-a-sub-$200month-grocery-budget/. You're the man!
Post by: BeanCounter on September 08, 2020, 02:32:49 PM
As a newly FIRED parent of two kids (7 & 11) I feel pretty qualified to answer this question. Excluding childcare, through the baby-toddler-preschool phase it’s pretty easy to be frugal. They just don’t need much, and you don’t feel bad for not signing them up for fancy classes and sports. Although our eldest child did require some custom orthotics and about a year of PT that got expensive pretty fast.Somehow I don't think lean FIRE and baby don't combine that well, although their are cheap (and good) ways to raise a child. Good luck.
Huh, why do you think so? Haven't seen any particular big costs for them (though I can see medical stuff potentially).
well, Lean FIRE is by definition, lean. There is no fat, otherwise it would be regular FIRE or Fat FIRE. Although I agree that raising a child does not need to be insanely expensive as the mainstream media makes it out to be, it will increase my yearly expenses by some amount that now needs to be accounted for in my planning.
Plus, with little kids, you can't ask them to suck it up and be willing to flex their frugality muscles to the same degree that I can. for example, if it were just me, I could tough it out without AC in my home on a hot summer day. But with a 3 month old who is not sleeping and possibly getting overheated, yeah...i'm going to get the AC unit.
Anyway once they get into school, it’s a whole different ballgame. Today for example I wrote $185 check for band instructor fees, $90 check for Boy Scout climbing trip and scheduled an appointment for an orthodontist consult. And that’s just for one kid, during a pandemic, so really just a tip of the iceberg really. If we had lean FIRED five or six years ago I would have had no idea what those expenses would be. I just knew we needed to have a god solid cushion for this type of stuff. There are folks that are comfortable with limiting their kids activities and experiences because of budget, I’m not one of them. Not when we are able to go out and make good money.
Post by: Linea_Norway on September 09, 2020, 05:25:49 AM
I posted over in the other thread (https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-to-100-fi-(only-if-below-median-household-income!!!)/msg2695784/#msg2695784), but I guess I need to post in here too. Yay!
My FIRE goal has been "by the time I'm 35" since forever, and here I am at coast/barista FIRE at not-quite 32.
Congratulations @APowers !! Very well done.
I've been a huge fan of yours since your epic grocery spending thread -- https://forum.mrmoneymustache.com/share-your-badassity/have-a-sub-$200month-grocery-budget/. You're the man!
Congrats, and at such a young age. You probably did it through a badass cheap groceries habit.
Post by: bownyboy on September 10, 2020, 12:46:05 AM
I’m delighted as WFH has been great for me (I appreciate many others have struggled) due to not having to suffer 2-3 hours commute every day.
99 days to go...
Post by: Much Fishing to Do on September 10, 2020, 06:20:19 AM
Found out that the company I’m currently contracting at has said no one needs to go back to the office until at least January 2021 (my contract finishes end of December 2020).
I’m delighted as WFH has been great for me (I appreciate many others have struggled) due to not having to suffer 2-3 hours commute every day.
99 days to go...
Wow, that is quite the commute improvement. Way to coast into the finish.....
Post by: 2sk22 on September 14, 2020, 01:29:36 PM
Post by: LightTripper on September 14, 2020, 04:42:56 PM
Post by: Lucky13 on September 14, 2020, 05:46:57 PM
It's only 1 week into my early retirement and already I have a new project that I'm engrossed in. It feels great to be spending my days doing something that *I* think is fun and rewarding. I was prepared to just chill out and do nothing for a few weeks, or months, since I'd read here that many people need some serious decompression time. But whatever burnout that I was experiencing at my job seems to have disappeared... almost like waking up from a bad dream, it's kind of surreal.
Post by: fishnfool on September 14, 2020, 08:48:47 PM
@fishnfool and @FrugalAussie, I guess you two are confirmed? Congrats in that case.
@RetireAbroadAt35 and @rab-bit's wife, how is you status if you like to share it?
Yep, retired 2 weeks ago and enjoying every minute!
Aloha
Post by: Linea_Norway on September 15, 2020, 12:33:12 AM
Ok I'm done :-) I had posted my experiences a few weeks ago, the first attempt to leave did not go well. This time, things went much better. I finally got my company to let me go part-time till the end of the year and then I get to leave. So the countdown clock is ticking - feels like a burden has been lifted!
Well done. And with parttime work you have a smooth transition for yourself.
Post by: CptCool on September 16, 2020, 03:37:02 PM
Travel plans are still on hold, but we are itching to be done anyways. @Linea_Norway go ahead and mark me down as confirmed!
Post by: ItsALongStory on September 16, 2020, 07:09:50 PM
Post by: dan23 on September 17, 2020, 01:23:34 PM
Post by: FirePaddle on September 17, 2020, 02:30:08 PM
I did it. I've put in my notice, last day is Oct 2nd. I'm giving up a pretty sweet part time deal I've enjoyed the last year, Tues-Thurs at professional level salary, but the work was just not enjoyable any longer. Most days were annoying or boring. It's a bit scary doing it this year, given all the uncertainties, but I believe the future has always been uncertain! DW will still be working, which is a nice buffer, but I'm sure she'll be considering the possibilities that RE offers very soon. I'm still obviously wrapping things up these last 2 weeks, documenting stuff and whatnot, so it has not fully sunk in yet, but the joy is bubbling up, and the stress is fading more each day.
I've worked in a professional capacity for 15 years. I'm 41 now. As a team, we've saved a lot, anywhere from 34-40x expenses, depending on if you include current value of future pensions and SS in there. Home is almost paid off, we could do that tomorrow. Typing those numbers now, this seems extremely safe, like pandemic safe.
Here's to the future!
Post by: lemanfan on September 17, 2020, 10:46:17 PM
Post by: markbike528CBX on September 17, 2020, 11:14:01 PM
To the future!
To the future! and beyond! - sorry, my Buzz Lightyear kicked in. As well as the thread 2M+ and beyond thread.
Post by: EscapeVelocity2020 on September 17, 2020, 11:17:30 PM
So I hit EscapeVelocity in 2020 - sustainable FI forever - but don't know what to do next! It's an interesting philosophical situation. ER sounded so good when I was on the surface, working toward this. But nowadays, personally, I'm not quite so excited by that construct.
Post by: Linea_Norway on September 18, 2020, 12:56:35 AM
Not to be a Debbie Downer, but I'm officially out for this cohort. I had my chance to request ER-severance during the latest downsizing and turned it down. I've had a really interesting month WFH, but the work has gotten better and the kids are going back to school at the end of September. Honestly, I can't think of a better situation than a SAH spouse that substitute teaches when it works for us, kids at school, and now my WFH job that I can do in half (or less) the time and still get all the pay! And heck, if I get a mandatory severance package, then I guess I'll stop working, eh? I just don't think I'll get one this year since I'm still kicking some butt. I like what I do and, after a brisk jog every morning, enjoy sipping on coffee and doing it for 4 or so hours...
So I hit EscapeVelocity in 2020 - sustainable FI forever - but don't know what to do next! It's an interesting philosophical situation. ER sounded so good when I was on the surface, working toward this. But nowadays, personally, I'm not quite so excited by that construct.
Still, being FI is a good situation to be in. And when you ever get a toxic situation at work, you might change your mind. Good luck.
Post by: Linea_Norway on September 18, 2020, 12:57:34 AM
Add me to the class of 2020.
I did it. I've put in my notice, last day is Oct 2nd. I'm giving up a pretty sweet part time deal I've enjoyed the last year, Tues-Thurs at professional level salary, but the work was just not enjoyable any longer. Most days were annoying or boring. It's a bit scary doing it this year, given all the uncertainties, but I believe the future has always been uncertain! DW will still be working, which is a nice buffer, but I'm sure she'll be considering the possibilities that RE offers very soon. I'm still obviously wrapping things up these last 2 weeks, documenting stuff and whatnot, so it has not fully sunk in yet, but the joy is bubbling up, and the stress is fading more each day.
I've worked in a professional capacity for 15 years. I'm 41 now. As a team, we've saved a lot, anywhere from 34-40x expenses, depending on if you include current value of future pensions and SS in there. Home is almost paid off, we could do that tomorrow. Typing those numbers now, this seems extremely safe, like pandemic safe.
Here's to the future!
Welcome.
Post by: Linea_Norway on September 18, 2020, 12:57:56 AM
Confirmed for me.
Well done.
Post by: Farmgirl on September 18, 2020, 05:38:45 AM
As a result, I have adjusted my final work schedule a bit. She is doing well on the day-to-day stuff, it's just monthend (Accounting people will know what I'm talking about) that is still tough. So I made arrangements to take a few oddball vacation days and trade October 1 & 2 for comp days next Monday and Tuesday. Next week I work 2 days. My final week I work 3 days.
I am so ready to go, and nervous as well. I'll get over it I'm sure.
That's it from me for now. Will check in again after the plug is officially pulled.
Post by: Linea_Norway on September 22, 2020, 01:06:19 AM
Post by: BFGirl on September 24, 2020, 07:34:08 AM
Edited to add: Fortunately, I've been able to work mostly from home during the pandemic and my boss seems willing to allow for more WFH even after the pandemic.
Post by: EscapeVelocity2020 on September 24, 2020, 09:19:47 AM
Not to be a Debbie Downer, but I'm officially out for this cohort. I had my chance to request ER-severance during the latest downsizing and turned it down. I've had a really interesting month WFH, but the work has gotten better and the kids are going back to school at the end of September. Honestly, I can't think of a better situation than a SAH spouse that substitute teaches when it works for us, kids at school, and now my WFH job that I can do in half (or less) the time and still get all the pay! And heck, if I get a mandatory severance package, then I guess I'll stop working, eh? I just don't think I'll get one this year since I'm still kicking some butt. I like what I do and, after a brisk jog every morning, enjoy sipping on coffee and doing it for 4 or so hours...
So I hit EscapeVelocity in 2020 - sustainable FI forever - but don't know what to do next! It's an interesting philosophical situation. ER sounded so good when I was on the surface, working toward this. But nowadays, personally, I'm not quite so excited by that construct.
Still, being FI is a good situation to be in. And when you ever get a toxic situation at work, you might change your mind. Good luck.
Thanks for maintaining this cohort. I'm not sure if working for a Norwegian company, things will suddenly change! Seems like things are pretty stable and I'm very appreciative of the Norwegian outlook on what work and life should look like.
Post by: Linea_Norway on September 24, 2020, 02:44:27 PM
Not to be a Debbie Downer, but I'm officially out for this cohort. I had my chance to request ER-severance during the latest downsizing and turned it down. I've had a really interesting month WFH, but the work has gotten better and the kids are going back to school at the end of September. Honestly, I can't think of a better situation than a SAH spouse that substitute teaches when it works for us, kids at school, and now my WFH job that I can do in half (or less) the time and still get all the pay! And heck, if I get a mandatory severance package, then I guess I'll stop working, eh? I just don't think I'll get one this year since I'm still kicking some butt. I like what I do and, after a brisk jog every morning, enjoy sipping on coffee and doing it for 4 or so hours...
So I hit EscapeVelocity in 2020 - sustainable FI forever - but don't know what to do next! It's an interesting philosophical situation. ER sounded so good when I was on the surface, working toward this. But nowadays, personally, I'm not quite so excited by that construct.
Still, being FI is a good situation to be in. And when you ever get a toxic situation at work, you might change your mind. Good luck.
Thanks for maintaining this cohort. I'm not sure if working for a Norwegian company, things will suddenly change! Seems like things are pretty stable and I'm very appreciative of the Norwegian outlook on what work and life should look like.
First example, I used to work at the same company for 12 years. Obviously it was an alright working environment. But at a certain moment our owners brought in an interim management group. Our new boss created a toxic environment. After just one meeting, one person resigned, one went speaking to the CEO, and I went speaking to the HR manager, all without knowing about each other. That episode made me looking for another job.
Second example, my last job was okay for the first few years. But the last few years, the working pressure for everyone in my department became very high and I could see people were not having a good time. I myself developed mild starting dementia symptoms because of stress. Not toxic, but a very unhealthy situation.
Third example was DH's job before the last corporate change. DH lead a group of people and they were all under too high working pressure. When DH discussed this with his boss, boss said to tighten the seatbelts, because it would only get worse the next years. There were many more issues with this boss. Luckily it got solved thanks to other people in the large company.
Forth example was DH's job a couple of jobs before. Things were looking fine, only some offices weren't making good money. Suddenly one day DH was fired, without any warning. All the bad finances from other offices were written onto DH's office (creative accounting).
I don't believe in stability anymore. Another example that influenced my work life a lot was the closing down of our local train station on walking distance, giving me a 45 minute longer commute per day. And I already had a 2 hour commute. That caused me an immense amount of stress and anger/depression.
I now think that every given thing in life could change for the worse at any moment: our health, our relationship, things in the neighbourhood, etc. Be happy as long as it lasts.
Post by: Lucky13 on September 25, 2020, 03:30:11 PM
@FrugalAussie, @RetireAbroadAt35 and @Lucky13, can I put you down as confirmed?
Yes I'm confirmed! thanks for keeping the list.
Myself and my spouse are both early retired now, it's awesome.
Post by: 2sk22 on September 26, 2020, 07:31:19 AM
Post by: Linea_Norway on September 26, 2020, 02:07:40 PM
Post by: EscapeVelocity2020 on September 26, 2020, 08:04:27 PM
...
First example, I used to work at the same company for 12 years. Obviously it was an alright working environment. But at a certain moment our owners brought in an interim management group. Our new boss created a toxic environment. After just one meeting, one person resigned, one went speaking to the CEO, and I went speaking to the HR manager, all without knowing about each other. That episode made me looking for another job.
Second example, my last job was okay for the first few years. But the last few years, the working pressure for everyone in my department became very high and I could see people were not having a good time. I myself developed mild starting dementia symptoms because of stress. Not toxic, but a very unhealthy situation.
Third example was DH's job before the last corporate change. DH lead a group of people and they were all under too high working pressure. When DH discussed this with his boss, boss said to tighten the seatbelts, because it would only get worse the next years. There were many more issues with this boss. Luckily it got solved thanks to other people in the large company.
Forth example was DH's job a couple of jobs before. Things were looking fine, only some offices weren't making good money. Suddenly one day DH was fired, without any warning. All the bad finances from other offices were written onto DH's office (creative accounting).
I don't believe in stability anymore. Another example that influenced my work life a lot was the closing down of our local train station on walking distance, giving me a 45 minute longer commute per day. And I already had a 2 hour commute. That caused me an immense amount of stress and anger/depression.
I now think that every given thing in life could change for the worse at any moment: our health, our relationship, things in the neighbourhood, etc. Be happy as long as it lasts.
Thanks for the info. I should definitely practice gratitude being aware that there are some people really suffering out there. Just the other day, I was talking to an older colleague taking a voluntary severance package, and those folks have been given the latitude to choose their exit date. Our office isn't re-opening until next year, and folks are 'working' up until that date or a little longer. One colleague is taking 9 months until they get their package, which is really generous, especially since the package includes almost 3 years of salary and 6 months of healthcare (which is a big expense here in the US, at least until your income drops). Unfortunately, folks that get involuntary severance will basically have to turn in their laptops and phones the day it is announced and take the package, but that's they way it needs to be I guess.
Post by: 2sk22 on September 30, 2020, 08:08:33 AM
Post by: Linea_Norway on September 30, 2020, 10:56:07 AM
The big moment has finally arrived - as of tomorrow I'm finally done with work!
Congratulations. Sleep out and have a nice and peaceful breakfast on your first free morning.
Post by: Linea_Norway on September 30, 2020, 10:57:28 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter @42 CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 2sk22 CONFIRMED
10/01/20 apurplelife Given Notice
10/01/20 rae09 CONFIRMED
10/02/20 Farmgirl (@61) CONFIRMED
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) CONFIRMED
10/02/20 norajean CONFIRMED (accepted package from employer)
10/20/20 SpreadsheetMan CONFIRMED
11/09or16/20 Unique User (@50) Given notice
10/??/20 MarcherLady (or latest 12/31/20)
11/06/20 WYOGO
11/09/20 DireWolf's wife Given Notice
11/10/20 exit2019
11/20/20 Alternatepriorities
12/01/20 FireLane (@38)
12/11/20 Freedomsaver (@38)
12/14/20 Megs123 Given notice
12/17/20 honneyfill Given notice
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 2sk22 (parttime out 2020) Given notice
12/??/20 david_shin
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 BlueMR2
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
bownyboy (Probably, for mortgage reasons)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: MarcherLady on October 01, 2020, 12:40:29 AM
Post by: LightTripper on October 01, 2020, 03:36:52 AM
The big moment has finally arrived - as of tomorrow I'm finally done with work!
Congratulations @2sk22 .
And keeping everything crossed this really is OctGOber @MarcherLady !
Post by: 2sk22 on October 01, 2020, 05:43:13 AM
Congratulations @2sk22 .
Thanks - it all still feels a bit unreal. After so many years of continuous employment, this is going to take some getting used to :-)
Post by: LightTripper on October 01, 2020, 06:34:03 AM
Post by: Lucky13 on October 02, 2020, 01:47:40 PM
Post by: lemanfan on October 02, 2020, 01:54:08 PM
We now have 50 people CONFIRMED in our 2020 cohort! Go us! :D
Yay! Go us!
It still feels weird not to have a regular income. And I still avoid the question what I do. :)
But go us!
Post by: Linea_Norway on October 03, 2020, 02:28:55 AM
We now have 50 people CONFIRMED in our 2020 cohort! Go us! :D
Yay! Go us!
It still feels weird not to have a regular income. And I still avoid the question what I do. :)
But go us!
I can easily answer the question with that we are taking a year off. But next year we would like to move oyt into the country and many people have mentioned that it needs to be coordinated with a job. Then ai mumble something about working as a consultant from home. But I don't even find myself convincing.
Post by: norajean on October 03, 2020, 05:39:34 AM
Post by: SailingOnASmallSailboat on October 03, 2020, 06:29:47 AM
Post by: FlytilFIRE on October 03, 2020, 07:01:35 AM
Post by: Linea_Norway on October 03, 2020, 09:13:29 AM
I was planning for 2021 but the company offered a severance package (1 year of pay and health), so I bailed out early. Last day in the office was Oct 2. Woo-hoo!
Wow, what a great package. Congratulations!
Post by: Alternatepriorities on October 03, 2020, 04:05:57 PM
There have also been some weeks where I've done more than full time work. but it has me wondering if I can go hunting, fishing, back packing, or cut firewood whenever I want, am I already retired? Sure the IRP might complain, but I figured it could fly in these parts.
I'm trying to figure out what I want to add to my life, and it makes sense to me to keep earning a little money until I have something else I need that time for. DW still finds her work fulfilling so it's not yet the right time for slow travel. The biggest problem with continuing to work is the time I waste not working whenever I sit down at the computer. I should just get the project done and then go do something else, but I usually waste time procrastinating which leaves me feeling unsatisfied at the end of the day. It's never been a problem with work that isn't digital.
Post by: Linea_Norway on October 04, 2020, 05:16:02 AM
Over the past four months I've taken more and more advantage of our FI position to work on "other projects" rather than paying work. I've found it's a lot more acceptable to clients than just taking time off. Some of this summers projects have included: Sockeye - catching this years supply of red salmon, Ursa - the black bear i put in the freezer, project caribou involved both boating and hiking, and finally project Arbor - in which I cut and split enough firewood to last us the next three years and enough to get my father through this winter. There were also several weeks of declared vacations in there as well.
There have also been some weeks where I've done more than full time work. but it has me wondering if I can go hunting, fishing, back packing, or cut firewood whenever I want, am I already retired? Sure the IRP might complain, but I figured it could fly in these parts.
I'm trying to figure out what I want to add to my life, and it makes sense to me to keep earning a little money until I have something else I need that time for. DW still finds her work fulfilling so it's not yet the right time for slow travel. The biggest problem with continuing to work is the time I waste not working whenever I sit down at the computer. I should just get the project done and then go do something else, but I usually waste time procrastinating which leaves me feeling unsatisfied at the end of the day. It's never been a problem with work that isn't digital.
I don't feel bad after a bit of procrastinating during FIRE. I rather call it deserved relaxation after decades of working for the man. My ambitions on what to do on a day are much lower than they used to be. I generally find it enough to do one project/hobby a day for a couple of hours. The rest of the day is for the usual home tasks and for reading or some other form of relaxation. I do find it important to get some excersize, but don't mind skipping one day in between if the weather is like today, hard wind and lots of rain.
Post by: texxan1 on October 08, 2020, 10:22:19 PM
Post by: FirePaddle on October 09, 2020, 12:42:18 AM
Post by: Linea_Norway on October 10, 2020, 02:29:11 AM
I hate to leave this great group, but im going to have to slip into 1q 2021... .see ya,
Good luck. Working a few months longer shouldn't be too hard.
Post by: Linea_Norway on October 10, 2020, 02:33:52 AM
I'm confirmed! Just ending my first week of FIRE! It's still weird, but wonderful. Now I need to find the thread where the rookie FIRE folks discuss the wonderful oddness of filling your own time!
This thread contains a lot of rookie FIREd people.
I feel like every day is a weekend day, but without all the crowds that are usually slipped loose in the weekends. Although covit has caused more people to be outside more often.
Every day I can sleep as long as what feels natural for me and I can go to bed in the evening independent of the clock.
Post by: honeyfill on October 10, 2020, 11:51:46 AM
My last day working will be Dec 17. The company goes on (full pay)Christmas shutdown through the end of the year, so I will come in on Jan 4 to turn in my computer and phone. Also, by "working " one day in Jan, health insurance gets paid for all of Jan and I get a months worth of extra vacation days.
I am calling Dec 17th my final day. and staying in the 2020 cohort.
Post by: Alternatepriorities on October 10, 2020, 12:22:55 PM
Just wanted to update my final date.
My last day working will be Dec 17. The company goes on (full pay)Christmas shutdown through the end of the year, so I will come in on Jan 4 to turn in my computer and phone. Also, by "working " one day in Jan, health insurance gets paid for all of Jan and I get a months worth of extra vacation days.
I am calling Dec 17th my final day. and staying in the 2020 cohort.
Congratulations on playing your hand perfectly.
Post by: Freedomin5 on October 10, 2020, 07:10:25 PM
Just wanted to update my final date.
My last day working will be Dec 17. The company goes on (full pay)Christmas shutdown through the end of the year, so I will come in on Jan 4 to turn in my computer and phone. Also, by "working " one day in Jan, health insurance gets paid for all of Jan and I get a months worth of extra vacation days.
I am calling Dec 17th my final day. and staying in the 2020 cohort.
Very nice! Congratulations!
Post by: honeyfill on October 13, 2020, 08:51:44 AM
So 84 days total. but only 32 work days after taking off the weekends, company holidays, comp time and PTO . It is getting close!
Post by: DireWolf on October 13, 2020, 09:25:58 AM
We’ll retroactively get COBRA for December if we need to, and go on an ACA plan in January. SCOTUS could derail our plans, but we’ll deal with that if we have to.
Post by: SailingOnASmallSailboat on October 13, 2020, 01:05:10 PM
I was planning for 2021 but the company offered a severance package (1 year of pay and health), so I bailed out early. Last day in the office was Oct 2. Woo-hoo!
Fantastic!!! Congratulations!
Post by: ItsALongStory on October 14, 2020, 01:20:24 AM
I just counted up the days. My last work day is Dec 17 but I am counting until Jan 4 because that is when I go in to drop off my computer and phone.Should have worked 2 more weeks to get an extra year of soc sec credits unless you will have worked the years required with higher income :-)
So 84 days total. but only 32 work days after taking off the weekends, company holidays, comp time and PTO . It is getting close!
Post by: sherr on October 14, 2020, 07:52:47 AM
I just counted up the days. My last work day is Dec 17 but I am counting until Jan 4 because that is when I go in to drop off my computer and phone.Should have worked 2 more weeks to get an extra year of soc sec credits unless you will have worked the years required with higher income :-)
So 84 days total. but only 32 work days after taking off the weekends, company holidays, comp time and PTO . It is getting close!
Unless I'm missing something Social Security only cares about what your income was for that year (eg how much social secuirty tax you paid that year), not if you technically worked on Jan 1st or not. Working an extra two weeks would have made no difference to his SS payout.
Post by: MoneyTree on October 14, 2020, 01:59:44 PM
Unfortunately I will not be joining you all this year and will be OMYing into the 2021 cohort. There are significant life changes coming up, so I'll have to revise my target number and also see what happens with healthcare options in the coming year.
Good luck all, keep the stories coming!
Post by: Unique User on October 16, 2020, 09:11:52 AM
Post by: ItsALongStory on October 17, 2020, 04:08:51 AM
I just counted up the days. My last work day is Dec 17 but I am counting until Jan 4 because that is when I go in to drop off my computer and phone.Should have worked 2 more weeks to get an extra year of soc sec credits unless you will have worked the years required with higher income :-)
So 84 days total. but only 32 work days after taking off the weekends, company holidays, comp time and PTO . It is getting close!
Unless I'm missing something Social Security only cares about what your income was for that year (eg how much social secuirty tax you paid that year), not if you technically worked on Jan 1st or not. Working an extra two weeks would have made no difference to his SS payout.
I personally dont have anywhere near a full SS career so earning 4 credits would have probably made a worthwhile difference but I certainly agree that for most people this doesn't make a difference unless it replaces a year with 0 income
Post by: sherr on October 17, 2020, 10:45:00 AM
I just counted up the days. My last work day is Dec 17 but I am counting until Jan 4 because that is when I go in to drop off my computer and phone.Should have worked 2 more weeks to get an extra year of soc sec credits unless you will have worked the years required with higher income :-)
So 84 days total. but only 32 work days after taking off the weekends, company holidays, comp time and PTO . It is getting close!
Unless I'm missing something Social Security only cares about what your income was for that year (eg how much social secuirty tax you paid that year), not if you technically worked on Jan 1st or not. Working an extra two weeks would have made no difference to his SS payout.
I personally dont have anywhere near a full SS career so earning 4 credits would have probably made a worthwhile difference but I certainly agree that for most people this doesn't make a difference unless it replaces a year with 0 income
One of us does not understand the other, and I'm not sure which it is. :)
I'm saying that working an extra two weeks so that you're employed on Jan 1st would not do anything except increase your pay by an extra 2/52 % for the previous year, and whatever negligible effect that has on our SS payout. How much do you make in a day, maybe $400? So then working one day into the next year would replace a $0 year with a $400 year, which does nothing for your SS payout.
I mean I guess that's not exactly it because what really matters is in which year you get your paycheck and how much it's for, but the same logic applies. There's no benefit to working "an extra year" of you only make a few bucks that whole year, it's all proportional to how much you paid in SS tax.
Post by: tawyer on October 17, 2020, 11:38:36 AM
I just counted up the days. My last work day is Dec 17 but I am counting until Jan 4 because that is when I go in to drop off my computer and phone.Should have worked 2 more weeks to get an extra year of soc sec credits unless you will have worked the years required with higher income :-)
So 84 days total. but only 32 work days after taking off the weekends, company holidays, comp time and PTO . It is getting close!
Unless I'm missing something Social Security only cares about what your income was for that year (eg how much social secuirty tax you paid that year), not if you technically worked on Jan 1st or not. Working an extra two weeks would have made no difference to his SS payout.
I personally dont have anywhere near a full SS career so earning 4 credits would have probably made a worthwhile difference but I certainly agree that for most people this doesn't make a difference unless it replaces a year with 0 income
One of us does not understand the other, and I'm not sure which it is. :)
I'm saying that working an extra two weeks so that you're employed on Jan 1st would not do anything except increase your pay by an extra 2/52 % for the previous year, and whatever negligible effect that has on our SS payout. How much do you make in a day, maybe $400? So then working one day into the next year would replace a $0 year with a $400 year, which does nothing for your SS payout.
I mean I guess that's not exactly it because what really matters is in which year you get your paycheck and how much it's for, but the same logic applies. There's no benefit to working "an extra year" of you only make a few bucks that whole year, it's all proportional to how much you paid in SS tax.
"In 2020, you receive one credit for each $1,410 of earnings, up to the maximum of four credits per year." [1]
If you already have 40 credits, the difference that extra two weeks makes is likely of trivial importance.
If you have 36-39 credits, then those two weeks could be the deciding factor in whether or not you get any social security payment at all. If you've earned the kind of money that makes early retirement possible and are pursuing it, that payout is probably around $12000 per year in today's dollars, effectively boosting your future stash by $300K at 4% SWR.
[1] https://www.ssa.gov/pubs/EN-05-10072.pdf
Post by: ItsALongStory on October 18, 2020, 12:59:48 AM
My thought process was to work up to the 4 credits which only make sense if you're below the 40 credit threshold which very few people are.
Post by: bownyboy on October 18, 2020, 03:27:11 AM
I called our mortgage company and they said they will contact me 8 weeks before to discuss remortgage options.
However as a contractor, UK mortgage companies require a minimum amount left on your contract to consider you and I’ll most likely need another contract in order to proceed (assuming I can get one in this current climate!).
Worst case scenario is we roll onto their standard variable rate which is 3.69% rather than something like 1.4% for another 5 year fix.
Ho hum...
Post by: sherr on October 19, 2020, 07:52:32 AM
"In 2020, you receive one credit for each $1,410 of earnings, up to the maximum of four credits per year." [1]
If you already have 40 credits, the difference that extra two weeks makes is likely of trivial importance.
If you have 36-39 credits, then those two weeks could be the deciding factor in whether or not you get any social security payment at all. If you've earned the kind of money that makes early retirement possible and are pursuing it, that payout is probably around $12000 per year in today's dollars, effectively boosting your future stash by $300K at 4% SWR.
[1] https://www.ssa.gov/pubs/EN-05-10072.pdf
Ah, this was the piece I was missing, thank you. So basically you have to have had a 10-year career to qualify for SS at all. If you're at 9 years, then yes it's definitely worth it to work a few more weeks into the next year to get those credits. Yep, I agree completely now.
Post by: SpreadsheetMan on October 20, 2020, 01:37:34 AM
Somewhere between a third and half of my companies workforce are being fired since my sector has been destroyed by COVID. I feel sorry for the people that are going through the consultation period formalities before being dumped into a situation where there are literally no jobs at all in their field. I’m just very glad that I was at the end of my career and can afford to walk away.
I have a long notice period so my official last day is 6th May 2021, but I have no work to do so am effectively on paid leave as of now. It feels weird to have a resolution, I’ve been on furlough since March and that has been a strange and unsettling limbo.
Post by: Linea_Norway on October 20, 2020, 02:41:27 AM
Managed to negotiate my voluntary redundancy, so that is it - done.
Somewhere between a third and half of my companies workforce are being fired since my sector has been destroyed by COVID. I feel sorry for the people that are going through the consultation period formalities before being dumped into a situation where there are literally no jobs at all in their field. I’m just very glad that I was at the end of my career and can afford to walk away.
I have a long notice period so my official last day is 6th May 2021, but I have no work to do so am effectively on paid leave as of now. It feels weird to have a resolution, I’ve been on furlough since March and that has been a strange and unsettling limbo.
Maybe thanks to your voluntary leave, one of your coworkers will not be fired by the company.
Post by: SpreadsheetMan on October 20, 2020, 03:18:02 AM
I hope so. It’s a rough time to be looking for a job.Managed to negotiate my voluntary redundancy, so that is it - done.
Somewhere between a third and half of my companies workforce are being fired since my sector has been destroyed by COVID. I feel sorry for the people that are going through the consultation period formalities before being dumped into a situation where there are literally no jobs at all in their field. I’m just very glad that I was at the end of my career and can afford to walk away.
I have a long notice period so my official last day is 6th May 2021, but I have no work to do so am effectively on paid leave as of now. It feels weird to have a resolution, I’ve been on furlough since March and that has been a strange and unsettling limbo.
Maybe thanks to your voluntary leave, one of your coworkers will not be fired by the company.
Post by: rae09 on October 20, 2020, 06:06:56 PM
Post by: tawyer on October 20, 2020, 10:06:08 PM
I FIREd as of 10/1. I still have small project (less than 15 hrs/mo) but mostly FIRE.Congrats!
Post by: Linea_Norway on October 21, 2020, 05:16:50 AM
I FIREd as of 10/1. I still have small project (less than 15 hrs/mo) but mostly FIRE.
Congrats and welcome to the cohort.
Post by: SailingOnASmallSailboat on October 21, 2020, 10:36:53 AM
I FIREd as of 10/1. I still have small project (less than 15 hrs/mo) but mostly FIRE.
Congratulations!
Post by: Farmgirl on October 21, 2020, 02:39:12 PM
Post by: pdxvandal on October 21, 2020, 02:59:17 PM
Anyway, congrats to the 2020 FIRE grads and soon-to-be 2021 grads.
Post by: Freedomin5 on October 21, 2020, 04:48:58 PM
Post by: Linea_Norway on October 22, 2020, 10:49:34 AM
Checking in to let the group know my last day was October 2. They gave me a lovely send off and I’ve been collecting unused vacation checks with this Friday being the last one. Don’t miss work one little bit!
Good for you!
Post by: FrugalAussie on October 23, 2020, 03:40:47 PM
Post by: Linea_Norway on October 24, 2020, 09:37:54 AM
I'll not be FIRE'd this year. I resigned from one job, with a lot of notice as it's difficult to replace my skills set, it took two recruitment rounds. As retirement got closer I started to sweat so I've now taken on a 6 month Maternity Leave contract locally. My commute has reduced from 2 hours +/day to about 30 minutes and I won't be managing employees, just my own self, so I'm hoping I can get a good work/life thing happening. Time will tell. I really appreciate the freedom that FI provides. Good luck with your FIRE'd life everyone!
Good luck to you as well!
Post by: achvfi on October 25, 2020, 02:58:43 PM
Cheers to all in this cohort. Good luck.
Post by: John Galt incarnate! on October 25, 2020, 03:22:32 PM
This thread contains a lot of rookie FIREd people.
I feel like every day is a weekend day, but without all the crowds that are usually slipped loose in the weekends. Although covit has caused more people to be outside more often.
Every day I can sleep as long as what feels natural for me and I can go to bed in the evening independent of the clock.
When asked what FIREtirement is like I have actually replied "Every day is Sunday."
Sleeping when YOU want to for as long as YOU like is one of many benefits of FIRE.
BTW, I don't recall congratulating you for achieving FIRE.
Good for you for FIREing!
Post by: SugarMountain on October 25, 2020, 04:28:37 PM
This thread contains a lot of rookie FIREd people.
I feel like every day is a weekend day, but without all the crowds that are usually slipped loose in the weekends. Although covit has caused more people to be outside more often.
Every day I can sleep as long as what feels natural for me and I can go to bed in the evening independent of the clock.
When asked what FIREtirement is like I have actually replied "Every day is Sunday."
Sleeping when YOU want to for as long as YOU like is one of many benefits of FIRE.
BTW, I don't recall congratulating you for achieving FIRE.
Good for you for FIREing!
I prefer to think of it as Saturday. I used to get the Sunday night dread of going to work starting around 5 pm, earlier if I actually had to travel on Monday. Toughest part of retirement is knowing what day it is. Now that football is going it's easier. lol
Post by: YK-Phil on October 25, 2020, 04:39:18 PM
Post by: Linea_Norway on October 26, 2020, 04:46:19 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/07/20 FrugalFarmer CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter (@42) CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 2sk22 CONFIRMED
10/01/20 apurplelife Given Notice
10/01/20 rae09 CONFIRMED
10/01/20 ycc-phil (@62) CONFIRMED
10/02/20 Farmgirl (@61) CONFIRMED
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) CONFIRMED
10/02/20 norajean CONFIRMED (accepted package from employer)
10/03/20 gooki (@40) CONFIRMED
10/20/20 SpreadsheetMan CONFIRMED
11/06/20 WYOGO
11/09/20 DireWolf's wife Given Notice
11/09or16/20 Unique User (@50) Given notice
11/10/20 exit2019
11/20/20 Alternatepriorities
12/11/20 Freedomsaver (@38)
12/14/20 Megs123 Given notice
12/14/20 or 12/24/20 MarcherLady Given notice
12/17/20 honneyfill Given notice
12/18/20 bownyboy
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 BikeFanatic (@55)
12/??/20 david_shin
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
To be decided:
SailingOnASmallSailboat's DH (@50/51)
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
FireLane (Working part-time, OMY until COVID vaccine)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: Linea_Norway on October 26, 2020, 04:52:14 AM
I finally pulled the plug on October 1. At 62, it is not early retirement by FIRED standard. But I was fortunate to love my environmental scientist job from day 1, and it took me a lot of introspection to decide to leave an exciting career that allowed me to spend almost 40 years of incredible adventures in the Canadian Arctic visiting the most remote places on the planet and having the unique privilege to live and work with Inuit folks while getting handsomely paid at the same time. But I realized that I was not getting any younger and that it was the right time to take a new road. Literally. In the past five years, I was very fortunate to negotiate a remote work arrangement with my employer that allowed me to overland every winter between Northern Canada and Mexico. Now the plan, if covid-19 allows it, is to continue down the Panamericana in my old 4x4 van until I reach Tierra del Fuego. Alea iacta es...
Congrats on being FIREd. And nice that you had an interesting career. Not all of us are that lucky.
Post by: CrazyIT on October 26, 2020, 08:44:23 AM
I'm confirmed! Just ending my first week of FIRE! It's still weird, but wonderful. Now I need to find the thread where the rookie FIRE folks discuss the wonderful oddness of filling your own time!
This thread contains a lot of rookie FIREd people.
I feel like every day is a weekend day, but without all the crowds that are usually slipped loose in the weekends. Although covit has caused more people to be outside more often.
Every day I can sleep as long as what feels natural for me and I can go to bed in the evening independent of the clock.
I FIRED in March right before the world closed due to Covid. I worked for a company of 100 and just found out nearly a quarter have been let go from restructuring but not related to the virus . I feel like I dodged a bullet and am very grateful to not be working. It has taken several months to unwind and try to find the new normal, I'm probably not there yet but feel like I'm getting closer . I felt like I had a plan like people say "retire to something and not just away from the job" but Covid did put a damper on much of my travel plans. Non the less I am very happy with the freedom I have and stress level is soooo much less now. Dropped about 20 pounds! Now back to my morning coffee.
Good luck to everyone in their FIRE journey. Still Crazy not so much IT anymore....
Post by: 2sk22 on October 26, 2020, 09:49:40 AM
Post by: Linea_Norway on October 26, 2020, 09:52:26 AM
@Linea_Norway I just noticed two entries with my userid - I'm definitely retired now so you can remove the second entry that designates me as part time.
Fixed it.
It is not always easy to find entries now that they are no longer alphabetical.
Post by: friedmmj on October 26, 2020, 11:41:43 AM
I finally pulled the plug on October 1. At 62, it is not early retirement by FIRED standard. But I was fortunate to love my environmental scientist job from day 1, and it took me a lot of introspection to decide to leave an exciting career that allowed me to spend almost 40 years of incredible adventures in the Canadian Arctic visiting the most remote places on the planet and having the unique privilege to live and work with Inuit folks while getting handsomely paid at the same time. But I realized that I was not getting any younger and that it was the right time to take a new road. Literally. In the past five years, I was very fortunate to negotiate a remote work arrangement with my employer that allowed me to overland every winter between Northern Canada and Mexico. Now the plan, if covid-19 allows it, is to continue down the Panamericana in my old 4x4 van until I reach Tierra del Fuego. Alea iacta es...
This is an amazing career opportunity and I can see why it was hard to give up! If you haven't already seen it, check out the documentary called "Long Way Up" (Apple TV). It chronicles a motorcycle adventure of two actors (one of which is Ewin McGregor) starting at Tierra del Fuego and ending in Los Angeles, CA. They do the journey on electric motorcycles which is amazing considering the lack of charging infrastructure in South and Central America.
Post by: HappyCheerE on October 27, 2020, 06:38:14 PM
Post by: simonsez on October 30, 2020, 02:22:53 PM
I FIRED in March right before the world closed due to Covid. I worked for a company of 100 and just found out nearly a quarter have been let go from restructuring but not related to the virus . I feel like I dodged a bullet and am very grateful to not be working. It has taken several months to unwind and try to find the new normal, I'm probably not there yet but feel like I'm getting closer . I felt like I had a plan like people say "retire to something and not just away from the job" but Covid did put a damper on much of my travel plans. Non the less I am very happy with the freedom I have and stress level is soooo much less now. Dropped about 20 pounds! Now back to my morning coffee.Wow, that's awesome! I wonder if you "saved" a person from being let go by retiring, win-win!
Good luck to everyone in their FIRE journey. Still Crazy not so much IT anymore....
Post by: honeyfill on October 30, 2020, 05:33:30 PM
My last day at work is Dec 17, then I have a couple weeks of plant shut down and vacation to use up before I drop off my computer and keys on Jan 4.
That means I have 48 days until my last day and 66 days until I am officially off the payroll. 20 days are weekends. 9 days are vacation. 9 days are company holidays. 6 days are Fridays that I get off. That leaves 22 workdays.
Post by: Linea_Norway on October 31, 2020, 02:51:59 AM
I was bored yesterday so I did some calculations to help pass the time.
My last day at work is Dec 17, then I have a couple weeks of plant shut down and vacation to use up before I drop off my computer and keys on Jan 4.
That means I have 48 days until my last day and 66 days until I am officially off the payroll. 20 days are weekends. 9 days are vacation. 9 days are company holidays. 6 days are Fridays that I get off. That leaves 22 workdays.
That sounds doable, as they will be the last 22 days ever working. Good luck in the last run.
Post by: FrugalFarmer on November 01, 2020, 08:29:05 AM
Post by: frugalor on November 01, 2020, 09:01:18 AM
I am so grateful to be in this cohort. What a year. I got laid off one week after the COVID shutdown. But I was prepared. I was going to FIRE this year anyway. Don't get me wrong, it was decidedly inconvenient to get laid off. It didn't feel good either. But, instead of experiencing a full on catastrophe, I was able to view it as a catalyst to dive in and begin my new life. Was it the grand first year of FIRE that I had been dreaming about all this time? Nope. But it turned out to be exactly what I needed. I had time to clean and organize my home and to catch up on a lot of things I had to let slide while I was overworked and way too busy running the corporate treadmill. I left my job slightly less prepared than I had planned to be, and with a little smaller budget than I wanted. It's tight, but it works. As my handle indicates, I'm a farmer at heart. My retirement is at home with my land. Many people would not call that retired. But I don't care what it is called. I am free and I can spend my days the way I want to spend them. I have enough financial security not to worry about losing my land if there's a crop failure. I can afford veterinary care for all my animals when they need it. I won't ever have to compromise my ethics to chase higher profits. I no longer have to spend the bulk of my time in an open concept office environment listening to sales chatter and machine hum by the flickering sterile glow of fluorescent lighting. I'm free in every sense of the word that matters to me. It feels fantastic.
Nice! Layoff might actually be blessing in disguise for FIRE, especially if you got a severance.
Post by: Linea_Norway on November 01, 2020, 11:46:53 AM
I am so grateful to be in this cohort. What a year. I got laid off one week after the COVID shutdown. But I was prepared. I was going to FIRE this year anyway. Don't get me wrong, it was decidedly inconvenient to get laid off. It didn't feel good either. But, instead of experiencing a full on catastrophe, I was able to view it as a catalyst to dive in and begin my new life. Was it the grand first year of FIRE that I had been dreaming about all this time? Nope. But it turned out to be exactly what I needed. I had time to clean and organize my home and to catch up on a lot of things I had to let slide while I was overworked and way too busy running the corporate treadmill. I left my job slightly less prepared than I had planned to be, and with a little smaller budget than I wanted. It's tight, but it works. As my handle indicates, I'm a farmer at heart. My retirement is at home with my land. Many people would not call that retired. But I don't care what it is called. I am free and I can spend my days the way I want to spend them. I have enough financial security not to worry about losing my land if there's a crop failure. I can afford veterinary care for all my animals when they need it. I won't ever have to compromise my ethics to chase higher profits. I no longer have to spend the bulk of my time in an open concept office environment listening to sales chatter and machine hum by the flickering sterile glow of fluorescent lighting. I'm free in every sense of the word that matters to me. It feels fantastic.
@FrugalFarmer
I would like to put you in the list at the top of the page. Which date would you like me to put you on. Somewhere in April?
Post by: Linea_Norway on November 01, 2020, 01:45:18 PM
Post by: FrugalFarmer on November 01, 2020, 03:52:54 PM
I am so grateful to be in this cohort. What a year. I got laid off one week after the COVID shutdown. But I was prepared. I was going to FIRE this year anyway. Don't get me wrong, it was decidedly inconvenient to get laid off. It didn't feel good either. But, instead of experiencing a full on catastrophe, I was able to view it as a catalyst to dive in and begin my new life. Was it the grand first year of FIRE that I had been dreaming about all this time? Nope. But it turned out to be exactly what I needed. I had time to clean and organize my home and to catch up on a lot of things I had to let slide while I was overworked and way too busy running the corporate treadmill. I left my job slightly less prepared than I had planned to be, and with a little smaller budget than I wanted. It's tight, but it works. As my handle indicates, I'm a farmer at heart. My retirement is at home with my land. Many people would not call that retired. But I don't care what it is called. I am free and I can spend my days the way I want to spend them. I have enough financial security not to worry about losing my land if there's a crop failure. I can afford veterinary care for all my animals when they need it. I won't ever have to compromise my ethics to chase higher profits. I no longer have to spend the bulk of my time in an open concept office environment listening to sales chatter and machine hum by the flickering sterile glow of fluorescent lighting. I'm free in every sense of the word that matters to me. It feels fantastic.
@FrugalFarmer
I would like to put you in the list at the top of the page. Which date would you like me to put you on. Somewhere in April?
Let's go with July 7. That was about the time I decided to stop job hunting and commit to the FIRE life!
Post by: gooki on November 06, 2020, 01:36:49 AM
Turned down two job offers since. It’s hard saying no to more money. I guess it’ll get easier with time, that or the job offers will dry up.
Currently happy being a house husband, raising a puppy and doing up a camper van.
Post by: Linea_Norway on November 06, 2020, 02:41:43 AM
You can add me to the list. I FIREd mid October, 3 months after my 40th birthday. Pretty much bang on 9 years after I found MrMm.
Turned down two job offers since. It’s hard saying no to more money. I guess it’ll get easier with time, that or the job offers will dry up.
Currently happy being a house husband, raising a puppy and doing up a camper van.
Welcome to the cohort and well done to be fired at 40.
I don't find it tempting to go to a job interview at all. That would mean I would have to dress up and be in a very different modus (selling myself) than normally.
Post by: bownyboy on November 07, 2020, 03:12:33 AM
So it looks like I may have to bump into the 2021 cohort. Our five year mortgage fix expires on January 31st 2021 and my current work contract finishes December 31st 2020.
I called our mortgage company and they said they will contact me 8 weeks before to discuss remortgage options.
However as a contractor, UK mortgage companies require a minimum amount left on your contract to consider you and I’ll most likely need another contract in order to proceed (assuming I can get one in this current climate!).
Worst case scenario is we roll onto their standard variable rate which is 3.69% rather than something like 1.4% for another 5 year fix.
Ho hum...
I'm back on for Friday 18th December!
We got a remortgage confirmed yesterday on a great 5 year fix of 1.44%. The particular mortgage company we used just wanted tax returns for the last 2 years as well as savings and investments we hold. As our LTV is very low (about 9%) we were waved through.
Post by: Linea_Norway on November 07, 2020, 04:51:05 AM
So it looks like I may have to bump into the 2021 cohort. Our five year mortgage fix expires on January 31st 2021 and my current work contract finishes December 31st 2020.
I called our mortgage company and they said they will contact me 8 weeks before to discuss remortgage options.
However as a contractor, UK mortgage companies require a minimum amount left on your contract to consider you and I’ll most likely need another contract in order to proceed (assuming I can get one in this current climate!).
Worst case scenario is we roll onto their standard variable rate which is 3.69% rather than something like 1.4% for another 5 year fix.
Ho hum...
I'm back on for Friday 18th December!
We got a remortgage confirmed yesterday on a great 5 year fix of 1.44%. The particular mortgage company we used just wanted tax returns for the last 2 years as well as savings and investments we hold. As our LTV is very low (about 9%) we were waved through.
Welcome back. 1.44% fixed for 5 years is a great deal.
Post by: bownyboy on November 15, 2020, 02:01:08 AM
But experience tells me not to take anything for granted this year!
Post by: ItsALongStory on November 15, 2020, 08:39:16 AM
Post by: bownyboy on November 21, 2020, 06:02:32 AM
We’re currently in lockdown in the UK and realistically I can’t see things changing that much for at least another 6-12 months while we wait for the whole population to be immunised.
I was discussing this with the wife and she said “well why don’t you take another contract? It’s not like we can travel anywhere or do the things we want to do; you might as well be earning and add some contingency to the plan”.
So we’ll see. I’ve already had a few chats with prospective clients.
May end up moving over to the 2021 Cohort!
Post by: Linea_Norway on November 21, 2020, 08:00:23 AM
So as I near our FIRE date I find the seductive call of ONC syndrome otherwise known as One More Contract.
We’re currently in lockdown in the UK and realistically I can’t see things changing that much for at least another 6-12 months while we wait for the whole population to be immunised.
I was discussing this with the wife and she said “well why don’t you take another contract? It’s not like we can travel anywhere or do the things we want to do; you might as well be earning and add some contingency to the plan”.
So we’ll see. I’ve already had a few chats with prospective clients.
May end up moving over to the 2021 Cohort!
Only do it if you don't mind working and if working isn't bad for your health. Being home doing your own thing can also be good for you. All depends on your relationship with your work.
Post by: Alternatepriorities on November 21, 2020, 10:03:48 AM
Anyone else on track for one of their biggest monthly gains? A combination of a Biden presidency and COVID vaccine has sent my investments soaring.
But experience tells me not to take anything for granted this year!
There have been days this past month where our investments have earned more than we can earn in a month. And days this year where they have lost that... I find it makes “for money” a less useful answer to “why am a working?” But I also know that the long term average is what matters.
Post by: Alternatepriorities on November 21, 2020, 10:18:53 AM
It’s dark and cold outside and travel doesn’t seem prudent this winter. So, I’m going to continue doing some CAD until weather and covid conditions improve in the spring and then pursue my private pilot’s license and a summer of outdoor activity in AK. I don’t have to worry about fulfilling a contract, but I’d rather not leave a project unfinished.
DW will continue working as long as she is enjoying or until she’d rather go vagabonding. Either way, it should help mitigate SORR and allow for additional generosity.
Post by: SugarMountain on November 23, 2020, 10:09:25 AM
Anyone else on track for one of their biggest monthly gains? A combination of a Biden presidency and COVID vaccine has sent my investments soaring.
But experience tells me not to take anything for granted this year!
There have been days this past month where our investments have earned more than we can earn in a month. And days this year where they have lost that... I find it makes “for money” a less useful answer to “why am a working?” But I also know that the long term average is what matters.
It can be intoxicating. I still remember back in the late 90s when I had some stock options crash and I lost about 2 years salary (which was probably 30% or more of my net worth) in one day. At the end of October, I bought VOO with my severance money and it's made about a month's salary since then. I can see how folks get sucked into day trading, but it's really just gambling. Some people may have an edge, but I doubt I do.
Post by: Alternatepriorities on November 23, 2020, 12:25:43 PM
Anyone else on track for one of their biggest monthly gains? A combination of a Biden presidency and COVID vaccine has sent my investments soaring.
But experience tells me not to take anything for granted this year!
There have been days this past month where our investments have earned more than we can earn in a month. And days this year where they have lost that... I find it makes “for money” a less useful answer to “why am a working?” But I also know that the long term average is what matters.
It can be intoxicating. I still remember back in the late 90s when I had some stock options crash and I lost about 2 years salary (which was probably 30% or more of my net worth) in one day. At the end of October, I bought VOO with my severance money and it's made about a month's salary since then. I can see how folks get sucked into day trading, but it's really just gambling. Some people may have an edge, but I doubt I do.
I helped my father get into investing before I discovered indexing. He still does a decent amount of stock picking. For the last five years my index funds have consistently done at least a little better than his average return... This year his picks in the green energy sector have done so well that his total YTD return exceed mine despite having half the assets...
The primary reason I haven't tried to talk him out of stock picking is that he's happy living on his SS alone, and following his investments keeps is brain active during the cold winter months. In the summer he stays busy with his garden, but there just aren't enough projects for him in the winter.
Post by: ItsALongStory on November 24, 2020, 12:14:32 AM
Recently I did get her to buy one of the European equivalents of VTSAX for part of their stach but she happily keeps most of it where it's at. My fingers are crossed that VTSAX does well and she shifts all or at least most of it away from the local bankers that are robbing them with a smile on their face.
Post by: BlueMR2 on November 24, 2020, 05:26:07 AM
Well past my original date now in May. Just couldn't pass up the opportunity to keep working during the down times. Planning on continuing at least a little bit into 2021 now as the potential austerity measures in our country's future have me concerned. Wouldn't mind building up a bigger buffer. Set a new hard date in 2024 that I definitely won't go past, but otherwise am just kind of day by daying it now...
Post by: Linea_Norway on November 24, 2020, 06:38:01 AM
Guess my reply last night didn't save... Thought maybe it made it in before my computer crashed, but I guess not!
Well past my original date now in May. Just couldn't pass up the opportunity to keep working during the down times. Planning on continuing at least a little bit into 2021 now as the potential austerity measures in our country's future have me concerned. Wouldn't mind building up a bigger buffer. Set a new hard date in 2024 that I definitely won't go past, but otherwise am just kind of day by daying it now...
Updated the list. Good luck.
Post by: BikeFanatic on November 24, 2020, 06:38:42 AM
I have been trying to slog on OMY due to my spouses desire for more padding in our stash, plus I thought I would be furloughed or laid off during Covid which did not happen.
I am counting the days and really white knuckled it for 3 years at a Full time desk job I took for the money and I knew I would hate it. If I could do over, I would have coast fired working part time, I was forced out of my old job due to health issues, and that was a blessing also, very lucky for me. I had serious burn out, but still at that time I was working part time 32 hours a week. AT that time my plan was to decrease to 20 hours a week or Per Diem or contract work ( as soon as I had 500K invested and my spouse had a similar amount). Working in the Hospital is very stressful anyway and I wonder how much the stress contributed to some of my health issues. Anyway I am healthy now and the desk job has certainly padded the stash considerably. My spouse still wants more padding and is willing to work an extra year or two herself to bring in more. I am 55 years old and running out of time, she is a tad younger 49, and I just can not wait to GTFO and do the things I want. I feel chained to my desk, and this job really is more like 50 hours a week. I flexed up my hours instead of down.
Now we downsized and sold our house in the city, had already bought a small place in a resort town to retire to ( a tiny place but very inexpensive compared to the big city). With the windfall from the home pushes our net worth up and over the original number which was about 1.6M. Now I want to retire immediately but my company gives us a small bonus, could be 5-7K If I stay though 12/31 so while my last day is Jan 1 2022 I feel I will retire on 12/31/2020 ( since I will not work on Jan 1 but take a vacation day).
I still can not believe I am in this position, 55 is not really young, but younger than most, and I feel guilty evevn sharing that I am retired with my working class friends who will not retire until 65 probably. Hell I have a friend who is still working Full time at age 70. I feel very lucky! I am also grateful for all the information I gleened from this place ( and the face punches and learning to flex my frugal muscle) which gave me the idea to retire back in 2015-2016 when I had had it with my job.
Post by: Linea_Norway on November 24, 2020, 06:50:58 AM
Linea Norway, Can you add me to the list?
I have been trying to slog on OMY due to my spouses desire for more padding in our stash, plus I thought I would be furloughed or laid off during Covid which did not happen.
I am counting the days and really white knuckled it for 3 years at a Full time desk job I took for the money and I knew I would hate it. If I could do over, I would have coast fired working part time, I was forced out of my old job due to health issues, and that was a blessing also, very lucky for me. I had serious burn out, but still at that time I was working part time 32 hours a week. AT that time my plan was to decrease to 20 hours a week or Per Diem or contract work ( as soon as I had 500K invested and my spouse had a similar amount). Working in the Hospital is very stressful anyway and I wonder how much the stress contributed to some of my health issues. Anyway I am healthy now and the desk job has certainly padded the stash considerably. My spouse still wants more padding and is willing to work an extra year or two herself to bring in more. I am 55 years old and running out of time, she is a tad younger 49, and I just can not wait to GTFO and do the things I want. I feel chained to my desk, and this job really is more like 50 hours a week. I flexed up my hours instead of down.
Now we downsized and sold our house in the city, had already bought a small place in a resort town to retire to ( a tiny place but very inexpensive compared to the big city). With the windfall from the home pushes our net worth up and over the original number which was about 1.6M. Now I want to retire immediately but my company gives us a small bonus, could be 5-7K If I stay though 12/31 so while my last day is Jan 1 2022 I feel I will retire on 12/31/2020 ( since I will not work on Jan 1 but take a vacation day).
I still can not believe I am in this position, 55 is not really young, but younger than most, and I feel guilty evevn sharing that I am retired with my working class friends who will not retire until 65 probably. Hell I have a friend who is still working Full time at age 70. I feel very lucky! I am also grateful for all the information I gleened from this place ( and the face punches and learning to flex my frugal muscle) which gave me the idea to retire back in 2015-2016 when I had had it with my job.
Done.
I think you meant to say that your offical last day is 1rst of Jan 2021.
Stress is indeed very bad for one's health. I am a lot less stressed now than when I was working. Despite that, stress does flare up sometimes when I want to do so much that I feel there aren't enough hours in a day. Currenly, in November, there isn't so much I feel the need to be doing and I manage to relax more again.
You are very right that you aren't getting younger. More stash would often be nice, but you are running out of life to spend it. Better stop when you are still at good health to enjoy life.
Post by: Much Fishing to Do on November 24, 2020, 11:26:27 AM
Anyone else on track for one of their biggest monthly gains? A combination of a Biden presidency and COVID vaccine has sent my investments soaring.
But experience tells me not to take anything for granted this year!
There have been days this past month where our investments have earned more than we can earn in a month. And days this year where they have lost that... I find it makes “for money” a less useful answer to “why am a working?” But I also know that the long term average is what matters.
No kidding. I'll make ~$15k per my job this month, I'm up $250k this month in my investments...almost 20 times as much..... Of course there is no way my job LOSES me $300k next month...my investments may very well.... I owned a business up until a couple years ago with very volatile returns month to month (luckily the clients generally paid so it averaged out well, I realize it could have gone poorly every day), so I really do appreciate the concept of making a set amount of money without putting any capital at risk (I'm W-2'd now) and not to compare it at all to gains on at risk money.
Post by: exit2019 on November 30, 2020, 02:58:56 PM
I would leave that lump on the table, but ... this Covid19 thing is making me nuts and ruining my plans, Mike Tyson-style.
Travel is out (doubly now than even a month ago given the explosion in cases). My plan was to sell the house, put our stuff in storage, and go do a long distance trail (and then travel a bit to check out less-VHCOL places to live) but that whole plan definitely still out for now. Clarity on whether southbound will be a viable option won't materialize until April at the earliest. It's bad enough that 2020 was a total loss in every way but financially..
People who are pulling the trigger - what's the plan? How are you finding exiting in the middle of the mess? What do you *do* given all the restrictions?
Post by: APowers on November 30, 2020, 03:11:00 PM
People who are pulling the trigger - what's the plan? How are you finding exiting in the middle of the mess? What do you *do* given all the restrictions?
Same thing I was planning on doing before-- camping, remodeling, landscaping, helping the kids excel in school, and building fun things in the garage with them.
Post by: honeyfill on November 30, 2020, 08:46:23 PM
Post by: ItsALongStory on November 30, 2020, 11:10:50 PM
People who are pulling the trigger - what's the plan? How are you finding exiting in the middle of the mess? What do you *do* given all the restrictions?
We still made the move to Europe and still bought a car but are certainly more limited once we get to a destination. We had planned to visit portugal in january but actually flew down earlier. We are keeping our next portugal slot but will just drive and do more solo activities such as hiking vs trying to do things that result in more crowded situations.
The impact has been relatively minimal, biggest hurdle will be how we celebrate Christmas.
Post by: MarcherLady on December 01, 2020, 12:39:05 AM
) but my last working day will be either the 14th or the 24th, I'm negotiating that one today.Squeeee!
Post by: 2sk22 on December 01, 2020, 02:44:20 AM
Morning, after months of procrastination, I handed in my notice yesterday. My contract ends 31st Dec (I didn't want to get booted out of the cohort
Squeeee!
Congratulations! The 2020 cohort will soon be closing up forever :-)
Post by: FireLane on December 01, 2020, 11:01:19 AM
Money isn't an issue, as I'm well above my original FIRE number. The issue is that I was planning to travel and visit friends after FIRE, and while the pandemic is raging, that's not on the table. As long as I'm stuck at home, I might as well work a little longer and make a little more money to pad the stash.
Besides, my job isn't too stressful. It's been 100% work-from-home since March, and I negotiated a three-day workweek in September. I feel like I'm on a nice, easy glide out the door, which is just what I wanted.
I'm figuring I'll do this until a vaccine is rolled out, which I'm hoping will be by next spring. If you like, you can put me down as "Working part-time, OMY until COVID vaccine".
I have to say, I'm impressed with the number of people who are retiring this year, even with COVID-19 still going on. That's some badass courage!
Post by: bownyboy on December 01, 2020, 11:50:30 AM
Today was my day, but I've decided I'm not quitting just yet.
Money isn't an issue, as I'm well above my original FIRE number. The issue is that I was planning to travel and visit friends after FIRE, and while the pandemic is raging, that's not on the table. As long as I'm stuck at home, I might as well work a little longer and make a little more money to pad the stash.
Besides, my job isn't too stressful. It's been 100% work-from-home since March, and I negotiated a three-day workweek in September. I feel like I'm on a nice, easy glide out the door, which is just what I wanted.
I'm figuring I'll do this until a vaccine is rolled out, which I'm hoping will be by next spring. If you like, you can put me down as "Working part-time, OMY until COVID vaccine".
I have to say, I'm impressed with the number of people who are retiring this year, even with COVID-19 still going on. That's some badass courage!
I know what you mean! Thats my thinking now too. My contract finishes on the 18th December and the original plan like you was to go travelling and start doing 'stuff'.
Instead I've been contacted about some potentially another contract in Jan which I thinking I might as well take while we're all in lockdown.
Working from home is great. Don't miss the commute at all, and it means some more £££ in the bank.
Post by: Linea_Norway on December 01, 2020, 11:51:23 PM
Today was my day, but I've decided I'm not quitting just yet.
Money isn't an issue, as I'm well above my original FIRE number. The issue is that I was planning to travel and visit friends after FIRE, and while the pandemic is raging, that's not on the table. As long as I'm stuck at home, I might as well work a little longer and make a little more money to pad the stash.
Besides, my job isn't too stressful. It's been 100% work-from-home since March, and I negotiated a three-day workweek in September. I feel like I'm on a nice, easy glide out the door, which is just what I wanted.
I'm figuring I'll do this until a vaccine is rolled out, which I'm hoping will be by next spring. If you like, you can put me down as "Working part-time, OMY until COVID vaccine".
I have to say, I'm impressed with the number of people who are retiring this year, even with COVID-19 still going on. That's some badass courage!
I know what you mean! Thats my thinking now too. My contract finishes on the 18th December and the original plan like you was to go travelling and start doing 'stuff'.
Instead I've been contacted about some potentially another contract in Jan which I thinking I might as well take while we're all in lockdown.
Working from home is great. Don't miss the commute at all, and it means some more £££ in the bank.
It sounds like people should have had the option to work from home for a long time. Much less stress commuting (and better for the environment).
Good luck to both of you.
Post by: Linea_Norway on December 01, 2020, 11:52:24 PM
Officially turned in my notice. My last day is December 17th but I have to come in on Jan 4 to get paid for the 2 weeks off at Xmas and turn in my computer.
Morning, after months of procrastination, I handed in my notice yesterday. My contract ends 31st Dec (I didn't want to get booted out of the cohort
Squeeee!
Well done, both of you.
Post by: Linea_Norway on December 02, 2020, 12:01:20 AM
People who are pulling the trigger - what's the plan? How are you finding exiting in the middle of the mess? What do you *do* given all the restrictions?
I am staying within my own country. My activities are not depending on visiting crowded places or travelling around the world. Without Corona, I would have been cycling through Europe in the spring, but that has to wait for some other year. I enjoy being at home and around the house, or outside in the local forest. Or hiking in the mountains. The can all be done within the restrictions. We also own a mountain cabin that we visit regularly. Currently we are (for two weeks) renting a private apartment very far to the north to experience the northern winter without sunlight for once. We drove up there to avoid flight cancellations and chance for infections on a plane. But it was a long drive.
Post by: Linea_Norway on December 02, 2020, 12:34:41 AM
I'm figuring I'll do this until a vaccine is rolled out, which I'm hoping will be by next spring. If you like, you can put me down as "Working part-time, OMY until COVID vaccine".
I don't think the virus will be available for everyone in non-prioritized groups next spring. I expect it to be closer to next fall but we'll see. At least, it will be a lot of virus to produce and it will simply take time and capacity. Let's hope they will let other labs help producing it, as they have done with some labs in Europe where Germany will produce the Moderna vaccin.
Post by: Alternatepriorities on December 02, 2020, 11:40:08 AM
I'm figuring I'll do this until a vaccine is rolled out, which I'm hoping will be by next spring. If you like, you can put me down as "Working part-time, OMY until COVID vaccine".
I don't think the virus will be available for everyone in non-prioritized groups next spring. I expect it to be closer to next fall but we'll see. At least, it will be a lot of virus to produce and it will simply take time and capacity. Let's hope they will let other labs help producing it, as they have done with some labs in Europe where Germany will produce the Moderna vaccin.
Last I saw the officials are claiming everyone who wants a vaccine in the US will be able to get vaccinated by June. They may be counting on the 40% of the population I last read is planning to wait to achieve that though.
I'm more or less on the same path FireLane except for being self-employed. As you can probably relate, it's dark and cold outside this time of year, I might as well spend some time at the computer. Though I did just see an opening for coordinating the construction of hiking trails in Alaska I might have apply for... That could end my retirement before it gets started... I was thinking of volunteering with the group next year anyway...
Maybe I can still claim RE if I took that job. From the application: "This is not a strictly 9-5 job, but instead requires a continuing focus on Trails Initiative goals and ways to reach them."
Post by: lemanfan on December 02, 2020, 11:53:54 AM
People who are pulling the trigger - what's the plan? How are you finding exiting in the middle of the mess? What do you *do* given all the restrictions?
Well... all plans shut down for me. Have hardly left my city since March. I must say I find it very hard to find anything exiting. One day after the next between the four walls of my apartment or walking the same roads I walk every day, just to get outside. And since I'm from Scandinavia, the days are short and dark and yet we have no snow where I live.
I watch clips on Youtube and read books and try to prepare mentally for the spring.
Sorry for being a downer. :)
Post by: exit2019 on December 02, 2020, 02:28:57 PM
I'm more or less on the same path FireLane except for being self-employed. As you can probably relate, it's dark and cold outside this time of year, I might as well spend some time at the computer. Though I did just see an opening for coordinating the construction of hiking trails in Alaska I might have apply for... That could end my retirement before it gets started... I was thinking of volunteering with the group next year anyway...
I would love to know where you found the hiking trails opportunity.
Post by: exit2019 on December 02, 2020, 02:38:50 PM
Well... all plans shut down for me. Have hardly left my city since March. I must say I find it very hard to find anything exiting. One day after the next between the four walls of my apartment or walking the same roads I walk every day, just to get outside. And since I'm from Scandinavia, the days are short and dark and yet we have no snow where I live.
I watch clips on Youtube and read books and try to prepare mentally for the spring.
Sorry for being a downer. :)
That isn't a downer at all, that's pretty much where my wife and I are. She has health issues that put her at higher risk for a bad c19 experience so we're being extra cautious despite relatively low rates where we life (the bay area is many things, but it's _mostly_ got low actual covid19 rates, though it's exploding right now).
I think I may end up being a "one more quarter" kind of guy. I can barely stomach it, but between lockdowns and winter, it's getting pretty hard not to decide to stick it out to the next lump sum payment, which is most of a full year's living expenses, by hanging on for another 75 days. Given how much PTO I'm burning, that's only 72 days (43 weekdays). 1% of my "good" time left (age now->70) for a ~year padding/travel/toys. Vs exiting and .. coviding.
Hard to make the call. I'm holding on to being in the 2020 cohort for now, but I'm late on pulling the trigger.
Post by: Alternatepriorities on December 02, 2020, 03:03:15 PM
I'm more or less on the same path FireLane except for being self-employed. As you can probably relate, it's dark and cold outside this time of year, I might as well spend some time at the computer. Though I did just see an opening for coordinating the construction of hiking trails in Alaska I might have apply for... That could end my retirement before it gets started... I was thinking of volunteering with the group next year anyway...
I would love to know where you found the hiking trails opportunity.
And risk increasing the competition? :)
https://www.alaska-trails.org/
I signed up for their news letter a couple months ago after reading a proposal for an Alaska Long Trail that they put forward. I'd been thinking about a similar idea this past summer so their proposal really caught my attention. It is slightly more ambitious and generally better than what I was envisioning and they already some meaningful attention.
Post by: Alternatepriorities on December 02, 2020, 03:09:55 PM
Well... all plans shut down for me. Have hardly left my city since March. I must say I find it very hard to find anything exiting. One day after the next between the four walls of my apartment or walking the same roads I walk every day, just to get outside. And since I'm from Scandinavia, the days are short and dark and yet we have no snow where I live.
I watch clips on Youtube and read books and try to prepare mentally for the spring.
Sorry for being a downer. :)
That isn't a downer at all, that's pretty much where my wife and I are. She has health issues that put her at higher risk for a bad c19 experience so we're being extra cautious despite relatively low rates where we life (the bay area is many things, but it's _mostly_ got low actual covid19 rates, though it's exploding right now).
I think I may end up being a "one more quarter" kind of guy. I can barely stomach it, but between lockdowns and winter, it's getting pretty hard not to decide to stick it out to the next lump sum payment, which is most of a full year's living expenses, by hanging on for another 75 days. Given how much PTO I'm burning, that's only 72 days (43 weekdays). 1% of my "good" time left (age now->70) for a ~year padding/travel/toys. Vs exiting and .. coviding.
Hard to make the call. I'm holding on to being in the 2020 cohort for now, but I'm late on pulling the trigger.
I appreciate that line of thinking. Trading Covid days for meaningless but profitable work day is a much better deal than trading free days for those same work days and pay. At least it is for me.
Post by: exit2019 on December 02, 2020, 06:42:19 PM
And risk increasing the competition? :)
:-)
Thanks. I was thinking more of what sort of thing to look for; much more interested in the pacific northwest or colorado area opportunities, casually though.
Post by: Alternatepriorities on December 02, 2020, 08:58:02 PM
And risk increasing the competition? :)
:-)
Thanks. I was thinking more of what sort of thing to look for; much more interested in the pacific northwest or colorado area opportunities, casually though.
I figure there can't be that many candidates with experience in both project management and long distance hiking.
Post by: Linea_Norway on December 03, 2020, 12:37:03 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
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07/??/20 or later 20 MMM123
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09/30/20 CoffeeAndDonuts Given notice to employee
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12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
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??/??/20? Gumption
??/??/20 robtown
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
FireLane (Working part-time, OMY until COVID vaccine)
WYOGO (Working until COVID vaccine)
Bownyboy
Exit2019
catccc
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: simmias on December 03, 2020, 03:55:42 AM
Good points raised by all. At this point I think I'm either an "until they try to pull me back in the office" kind of guy or an "until they piss me off" kind of guy.
I think I may end up being a "one more quarter" kind of guy.
Or maybe an "until spring weather is too nice to be inside in front of a laptop" kind of guy!
Post by: Linea_Norway on December 03, 2020, 06:40:54 AM
Good points raised by all. At this point I think I'm either an "until they try to pull me back in the office" kind of guy or an "until they piss me off" kind of guy.
I think I may end up being a "one more quarter" kind of guy.
Or maybe an "until spring weather is too nice to be inside in front of a laptop" kind of guy!
:-)
Like in general in Norway, my notification period was a mandatory 3 months = 1 quarter. That felt like a really long time, although I had enough to do during that time to feel busy and a bit pressed on time.
Post by: beeboy on December 04, 2020, 09:24:57 AM
I know it's been a long time since I've last posted, but it's been a crazy year and I honestly haven't been on the computer very much at all since I FIRE'd. But, I just wanted to give everyone an update.
So, I took a buyout from my agency in mid-Nov. 2019; however, continued to get paid until January 2020. Then, I actually was hired to do some consulting work, which lasted until mid-March 2020. I've been really enjoying FIRE since then while the market has been on an absolute tear. I also have a significant amount more than the day I stopped working (it's amazing :0).
So, here's where I currently stand as of today:
* MS brokerage - 1,160,100 (which includes a balanced portfolio of stocks, about 215,000 in an annuity and 60,000 in cash)
* 401K - 668,900
* Checking - 20,200
* Savings - 118,200
* CD - 100,000
TOTAL - 2,067,400
Now, I realize that the market is at an all-time high currently, but FIRE-ing when I did was one of the greatest decisions I ever made in my life. If anyone is on the fence, I say go for it. I haven't missed work, the office or anything associated with my job for even a millisecond.
Hope everyone is doing well and let's hope the market keeps cooperating!
Cheers,
-bee
Post by: SailingOnASmallSailboat on December 05, 2020, 06:39:47 AM
Bonus is that he actually "carries over" 2 weeks of PTO into 2021 and the company will be paying him as if he were working, plus covering our medical insurance, for the month of January.
Time to get our sailboat ready to hit the seas.
Post by: Freedomsaver on December 05, 2020, 07:19:52 AM
Post by: Nancy on December 06, 2020, 04:07:07 AM
Post by: Nancy on December 06, 2020, 04:10:40 AM
Post by: Freedomin5 on December 06, 2020, 03:06:09 PM
We are quickly approaching our FI date. DH jumped the gun a little and gave notice back in October that he will not be renewing his contract. He’s planning on picking up small gigs here and there to help defray living expenses so that my income can continue to be shoveled into savings.
Once we hit our target number, which should happen by the end of December, we will consider ourselves FI. DH will move to FIRE’d and I will remain SWAMI since I’m bound by a contract until 2022. Depending on how the virus situation is, we may hang out in China for another year or two where it’s well-controlled and life is relatively normal.
Post by: apurplelife on December 06, 2020, 04:33:45 PM
01/01/20 Linea_Norway (@46) CONFIRMED
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/07/20 FrugalFarmer CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter (@42) CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 2sk22 CONFIRMED
10/01/20 apurplelife Given Notice
10/01/20 rae09 CONFIRMED
10/01/20 ycc-phil (@62) CONFIRMED
10/02/20 Farmgirl (@61) CONFIRMED
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) CONFIRMED
10/02/20 norajean CONFIRMED (accepted package from employer)
10/03/20 gooki (@40) CONFIRMED
10/20/20 SpreadsheetMan CONFIRMED
11/06/20 WYOGO
11/09/20 DireWolf's wife Given Notice
11/09or16/20 Unique User (@50) Given notice
11/10/20 exit2019
11/20/20 Alternatepriorities
12/05/20 Freedomsaver (@38) CONFIRMED
12/14/20 Megs123 Given notice
12/14/20 or 12/24/20 MarcherLady Given notice
12/17/20 honneyfill Given notice
12/18/20 bownyboy
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 BikeFanatic (@55)
12/31/20 SailingOnASmallSailboat's DH (@50/51)
12/??/20 david_shin
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 Beeboy (@46)
??/??/20 robtown
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
FireLane (Working part-time, OMY until COVID vaccine)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Sorry for the delay! I am confirmed and 10/1 was my last day. I hope you're all well!
Post by: WYOGO on December 07, 2020, 06:55:46 PM
Post by: beeboy on December 09, 2020, 08:05:07 AM
01/01/20 Linea_Norway (@46) CONFIRMED
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/16/20 Beeboy (@46) CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/07/20 FrugalFarmer CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter (@42) CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 2sk22 CONFIRMED
10/01/20 apurplelife Given Notice
10/01/20 rae09 CONFIRMED
10/01/20 ycc-phil (@62) CONFIRMED
10/02/20 Farmgirl (@61) CONFIRMED
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) CONFIRMED
10/02/20 norajean CONFIRMED (accepted package from employer)
10/03/20 gooki (@40) CONFIRMED
10/20/20 SpreadsheetMan CONFIRMED
11/06/20 WYOGO
11/09/20 DireWolf's wife Given Notice
11/09or16/20 Unique User (@50) Given notice
11/10/20 exit2019
11/20/20 Alternatepriorities
12/05/20 Freedomsaver (@38) CONFIRMED
12/14/20 Megs123 Given notice
12/14/20 or 12/24/20 MarcherLady Given notice
12/17/20 honneyfill Given notice
12/18/20 bownyboy
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 BikeFanatic (@55)
12/31/20 SailingOnASmallSailboat's DH (@50/51)
12/??/20 david_shin
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 robtown
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
FireLane (Working part-time, OMY until COVID vaccine)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: ysette9 on December 12, 2020, 03:53:39 PM
I quit on lucky Friday the 13th right before Covid lockdown. So far FIRE has not at all been anything like I had hoped, entirely due to covid. In fact, this year has mostly sucked and been damn hard. But I am still grateful that I quit work because it would have been a lot more awful if I had also been trying to work. No, it would have been utterly impossible. So I am aware of how fortunate we are there.
Financially the year has been amazing. I did a lot of simulations and calculations to get us comfortable with $2.3M being the magical number instead of the original $2.6 I had estimated. Well, we are within spitting distance of $3M invested and will be selling our house sometime soon-ish which may net us another $400k+ to invest. Compound interest is indeed a powerful force. I have no clue what the future holds but at least we are financially prepared for what life may throw at us.
Post by: bobble on December 13, 2020, 03:55:26 AM
Completely different feeling than the "one more year" mentality that I had before pulling the plug. I spent lots of time wondering if I really had enough, if FIRE would really suit me, if I would be leaving too much money on the table by retiring early, etc. None of those concerns has any weight to me these days.
Post by: 2sk22 on December 13, 2020, 04:44:05 AM
Part of what made this possible was the year I spent getting my finances in order. I was already tracking my expenses closely so I was not worried on that front. The problem was in the way our savings were scattered about in a dozen accounts, some of which were hard to access. I consolidated much of this savings into just a few accounts at Fidelity, wrote up my investment policy statement and put it all on autopilot. I can now monitor the accounts on a weekly basis and get a full view.
The second aspect of my transition to retirement was getting my wife and family ready for it. You cannot hurry this along. Despite having a net worth well over $5M, my wife was apprehensive. Having run all the FIRE calculators, it was clear to me that we would be more than ok. But it still took me some time to reduce her anxiety level. It also helps that I can now take care of everything around the house so she can concentrate on her work.
Post by: ysette9 on December 15, 2020, 08:43:59 PM
Its now 73 days since I retired - and it has been great!What kind of withdrawal rate does that put you at?
Part of what made this possible was the year I spent getting my finances in order. I was already tracking my expenses closely so I was not worried on that front. The problem was in the way our savings were scattered about in a dozen accounts, some of which were hard to access. I consolidated much of this savings into just a few accounts at Fidelity, wrote up my investment policy statement and put it all on autopilot. I can now monitor the accounts on a weekly basis and get a full view.
The second aspect of my transition to retirement was getting my wife and family ready for it. You cannot hurry this along. Despite having a net worth well over $5M, my wife was apprehensive. Having run all the FIRE calculators, it was clear to me that we would be more than ok. But it still took me some time to reduce her anxiety level. It also helps that I can now take care of everything around the house so she can concentrate on her work.
Post by: MarcherLady on December 16, 2020, 01:21:06 AM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/16/20 Beeboy (@46) CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/07/20 FrugalFarmer CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter (@42) CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 2sk22 CONFIRMED
10/01/20 apurplelife Given Notice
10/01/20 rae09 CONFIRMED
10/01/20 ycc-phil (@62) CONFIRMED
10/02/20 Farmgirl (@61) CONFIRMED
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) CONFIRMED
10/02/20 norajean CONFIRMED (accepted package from employer)
10/03/20 gooki (@40) CONFIRMED
10/20/20 SpreadsheetMan CONFIRMED
11/06/20 WYOGO
11/09/20 DireWolf's wife Given Notice
11/09or16/20 Unique User (@50) Given notice
11/10/20 exit2019
11/20/20 Alternatepriorities
12/05/20 Freedomsaver (@38) CONFIRMED
12/14/20 Megs123 Given notice
12/15/20 MarcherLady CONFIRMED
12/17/20 honneyfill Given notice
12/18/20 bownyboy
12/31/20 Freedomin5 (@38)
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 BikeFanatic (@55)
12/31/20 SailingOnASmallSailboat's DH (@50/51)
12/??/20 david_shin
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 catccc
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20 Fresh Bread
??/??/20? Gumption
??/??/20 robtown
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
FireLane (Working part-time, OMY until COVID vaccine)
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally[/size][/size]
I'm done. Last day was yesterday. It feels gooooood.
Post by: Linea_Norway on December 16, 2020, 07:39:50 AM
Congrats to both of you.
There is no need to copy in a new list. I update the list on the top of the page.
Post by: 2sk22 on December 16, 2020, 08:04:54 AM
What kind of withdrawal rate does that put you at?
If my wife works for another four to five years (as she currently wants to), we will likely be at a 1.5% withdrawal rate when she finally retires. I was well paid but my wife is even better paid now - we won't have to touch our savings for a while :-)
Post by: Alternatepriorities on December 16, 2020, 12:29:15 PM
@MarcherLady and @beeboy
Congrats to both of you.
There is no need to copy in a new list. I update the list on the top of the page.
When you next update, you can put me down for "scope creep". I applied for the position constructing hiking trails, but if that doesn't happen I will spend next summer hiking on existing trails and probably take an 800 mile/1280km bike ride in June. I don't expect to know for sure about the new position until early next year though.
Post by: bownyboy on December 17, 2020, 04:31:04 AM
As we're all in lockdown again, it makes sense to take the money and add to the 'stash.
Well done for everyone who called it quits this year!
Post by: Linea_Norway on December 17, 2020, 06:39:18 AM
@MarcherLady and @beeboy
Congrats to both of you.
There is no need to copy in a new list. I update the list on the top of the page.
When you next update, you can put me down for "scope creep". I applied for the position constructing hiking trails, but if that doesn't happen I will spend next summer hiking on existing trails and probably take an 800 mile/1280km bike ride in June. I don't expect to know for sure about the new position until early next year though.
Done. And a good plan. But what date should I put you? Under OMY?
Post by: Unique User on December 17, 2020, 09:29:06 AM
Post by: Alternatepriorities on December 17, 2020, 11:20:23 AM
@MarcherLady and @beeboy
Congrats to both of you.
There is no need to copy in a new list. I update the list on the top of the page.
When you next update, you can put me down for "scope creep". I applied for the position constructing hiking trails, but if that doesn't happen I will spend next summer hiking on existing trails and probably take an 800 mile/1280km bike ride in June. I don't expect to know for sure about the new position until early next year though.
Done. And a good plan. But what date should I put you? Under OMY?
If I am offered and accept that job it would likely be a year, hopefully longer as I'd really like to see (and then hike) a long trail in Alaska and that will take some time to complete. I wouldn't be doing it for the money though, so I count 11/20 as my final day of "I need to do this for the money" work.
Post by: exit2019 on December 17, 2020, 10:35:34 PM
I was heading this way as it was, given Covid19 and other issues, but now exit2019^w exit2020 becomes exit2021Q1. Best of luck to everyone; we are in the home stretch, albeit a really miserable winter with many deaths sits before us.
Post by: gertitorpe on December 20, 2020, 11:24:03 AM
I guess my name should be added to the 2020 list as well to preserve this achievement to the future (32 yrs old). FI sneaked on me this year and hit hard. Ask me 9 or 12 months ago I never even thought I could make FIRE this soon.
Around March I have finally decided to take a couple of months of sabbatical over the late summer. My then 7 years long very intense tech consultant was just getting seriously too much at that time. My past employer is a nice US company with great technology nice and loyal employees with booming business. Nonetheless to say the 7 years was a serious grinder leading to burnout and had devastating effects on my personal life, probably also on my personality.
Besides working as a consultant since 2015 I I built a side hustle of 'stock picking' which went fairly well until early 2020 giving me a total net worth of about ~250k USD. A significant amount of money in part of the world where I live but far from a normal or even thin FIRE.
Anyway my calculation when I made the final decision over the spring was that the ~250k stash will allow me to enjoy a good sabbatical (without the remorse on money :D ) and planned to decide if to continue pursuing a carrier in my industry is a good thing or should I find something else, more exciting.
Then between April-June my main holding in my portfolio just blew up. To the upside. Like growing almost 10 fold as the company's main business is acting as a marketplace for digital services, doing absolutely amazing in the past months.
End of the story, is that my net worth in June now being around 700k was finally enough for me to tell my Boss that while I am very grateful for the provided sabbatical period now I am not planning to go back so we can even do a proper exit from the company. Which is exactly what we did with a grateful almost 2 months long notice period because I eventually like everyone at the company and wanted to leave them enough time to prepare and refill my position.
Fast forward to 2020 December, I am enjoying the time-off a lot, not being very productive first time in my life and having all kinds of plans for the future. Too many actually :D
This Friday my worth hit the 1m mark which is really a life changing amount and serves as a confirmation that my decision to quit working was correct. It seems the stock picking side hustle which I enjoy and invest time in pays much better for my time than the employee status I had all my life so far.
My yearly spend stands somewhat below 20k USD per year as a single, renting a fine apartment close to our capital.
Post by: Padonak on December 20, 2020, 03:15:10 PM
Question. Do you still hold that stock that blew up 10X or have you diversified into index funds for example?
Post by: Freedomin5 on December 20, 2020, 04:03:13 PM
I guess we can be put down as “Confirmed” and moved to SWAMI status.
Post by: Alternatepriorities on December 21, 2020, 01:56:38 AM
@MarcherLady and @beeboy
Congrats to both of you.
There is no need to copy in a new list. I update the list on the top of the page.
When you next update, you can put me down for "scope creep". I applied for the position constructing hiking trails, but if that doesn't happen I will spend next summer hiking on existing trails and probably take an 800 mile/1280km bike ride in June. I don't expect to know for sure about the new position until early next year though.
Done. And a good plan. But what date should I put you? Under OMY?
If I am offered and accept that job it would likely be a year, hopefully longer as I'd really like to see (and then hike) a long trail in Alaska and that will take some time to complete. I wouldn't be doing it for the money though, so I count 11/20 as my final day of "I need to do this for the money" work.
They were "unable to offer" the position. Looks like I'll be pursuing a pilot's license, bike touring, and backpacking in 2021!
Post by: gertitorpe on December 21, 2020, 03:01:59 AM
Welcome @gertitorpeI still hold because the company is solid, although somewhat overvalued right now. Hopefully their business will continue to prospect.
Question. Do you still hold that stock that blew up 10X or have you diversified into index funds for example?
US Index funds: past decades has been a good run for them but personally I am not a fan. Instead I like to hold a low number <5 of individual companies I know very well. Following my investment closely also helps to keep myself busy.
Post by: Linea_Norway on December 21, 2020, 08:43:45 AM
@exit2019 good luck in the next cohort.
Post by: jeroly on December 21, 2020, 07:03:27 PM
You are on the verge of financial independence with your 700k stash. Do you really want to put it all on the spin of a roulette wheel? Maybe that stock goes up more, but maybe it doesn't, and with only one stock representing such a significant part of your portfolio you have huge downside risk. You are perfectly welcome to take the gamble, but you are not investing, you are gambling.Welcome @gertitorpeI still hold because the company is solid, although somewhat overvalued right now. Hopefully their business will continue to prospect.
Question. Do you still hold that stock that blew up 10X or have you diversified into index funds for example?
US Index funds: past decades has been a good run for them but personally I am not a fan. Instead I like to hold a low number <5 of individual companies I know very well. Following my investment closely also helps to keep myself busy.
Even if you believe that US stocks are overvalued, that has nothing to do with the benefits that owning index funds offer. Go ahead and buy European - Asian - or even African index funds. You can even buy whole world ex-US funds. In any of those you will spread your risk around and not risk a blow up of the bad variety.
Post by: Padonak on December 21, 2020, 08:05:11 PM
Which company is it? My guess is TSLA.Welcome @gertitorpeI still hold because the company is solid, although somewhat overvalued right now. Hopefully their business will continue to prospect.
Question. Do you still hold that stock that blew up 10X or have you diversified into index funds for example?
US Index funds: past decades has been a good run for them but personally I am not a fan. Instead I like to hold a low number <5 of individual companies I know very well. Following my investment closely also helps to keep myself busy.
Post by: By the River on December 22, 2020, 07:59:51 AM
Welcome @gertitorpeI still hold because the company is solid, although somewhat overvalued right now. Hopefully their business will continue to prospect.
Question. Do you still hold that stock that blew up 10X or have you diversified into index funds for example?
US Index funds: past decades has been a good run for them but personally I am not a fan. Instead I like to hold a low number <5 of individual companies I know very well. Following my investment closely also helps to keep myself busy.
Let me tell you an old story. In Late January 2000, I'm talking to my best friend. He has been putting in 70-80 hour weeks and the startup IT company he was working for had just gone public. I remember his quote "I'm a millionaire now." He had stock options with a 180 day lockup before he could sell. Go look at the Nasdaq crash of 2000 to see how that worked out. I believe he sold for 5 figures instead of 7.
Post by: Dicey on December 22, 2020, 09:12:16 PM
What would have happened if he's just hung on to it?Welcome @gertitorpeI still hold because the company is solid, although somewhat overvalued right now. Hopefully their business will continue to prospect.
Question. Do you still hold that stock that blew up 10X or have you diversified into index funds for example?
US Index funds: past decades has been a good run for them but personally I am not a fan. Instead I like to hold a low number <5 of individual companies I know very well. Following my investment closely also helps to keep myself busy.
Let me tell you an old story. In Late January 2000, I'm talking to my best friend. He has been putting in 70-80 hour weeks and the startup IT company he was working for had just gone public. I remember his quote "I'm a millionaire now." He had stock options with a 180 day lockup before he could sell. Go look at the Nasdaq crash of 2000 to see how that worked out. I believe he sold for 5 figures instead of 7.
Post by: exit2019 on December 23, 2020, 01:28:15 PM
What would have happened if he's just hung on to it?
Not the person you're replying to, but I think everyone who was around for the dotcom actually has friends who all would answer the question with the same answer: it went to zero.
We're in a strange time. Diversification is your friend. All of this stuff is a question of upside-vs-downside risk. If you're willing to start again, let it ride.
Post by: catccc on December 27, 2020, 10:09:00 PM
Post by: tawyer on December 27, 2020, 10:16:00 PM
Having planned on FIRE in April 2020, several years ago, I ultimately FIREd in July. The CARES Act (part time work, full time salary) was too tempting to pass up. Still haven't decided where to go next. :)PTF and bookmark all the information here.Time for a two-years-later check-in, having been lurking for so long. We are definitely FI now, on our fairly conservative terms, but still hanging on for 2020, mainly because we haven't decided where to go next.
We are arguably FI now but are wanting to derisk the RE aspect by reducing our SWR because we are in our 30s.
Looking forward to reading more from those on a similar timeline!
Congrats everyone who has pulled the plug, reading your stories has helped me through!
Post by: SailingOnASmallSailboat on December 28, 2020, 11:00:33 AM
Bring on the boat work!
Post by: ScreamingHeadGuy on December 31, 2020, 07:17:42 AM
Post by: norajean on December 31, 2020, 07:53:44 AM
1) sold primary home
2) relocated across the country to a new (to us) home, in a horrible two-stage process with pet, goods, etc.
3) dealt with all the paperwork related to relocating, insurance, unemployment insurance, etc.
4) unpacked and set up the house (almost done this week)
5) set up new services and had some repairs (HVAC, electrician) plus a TON of DYI inside and out, Wifi, security,
6) list of projects (indoor and out) for the next few years
7) started exploring new home base and establishing favorite shops, dine out, etc.
For 2021 -
1) get final severance check in Jan (12 months pay)
2) continue unemployment through May
3) continue employer-paid health and dental insurance all year
4) work on home projects indoor and out, weather depending. Consider installing wine cellar. Consider planting an acre of grape vines.
5) buy MCM furniture, lawn tractor, etc.
6) get a bike
7) resolve a legal situation with a neighbor
8) look into getting either a miniature donkey or a couple alpaca
That should about do it.
Post by: Linea_Norway on December 31, 2020, 08:31:25 AM
- Spending some weeks at our cabin in January, skiing.
- Spending almost a month at our cabin in February, skiing.
- Selling our primary home officially.
- Staying a lot at home because of COVID-19. Not allowed by law to spend Easter at our cabin.
- After Easter we did a week's road trip to look around for possible rentals in another part of the country. Camping wild as campsite was closed. We didn't find anything we wanted to live in that we big enough.
- Found a rental not far from home.
- Moved into the rental. On the last day, DH collapsed and couldn't move anymore. I had to do all the unpacking, bringing back the trailer and washing out the home for sale.
- Went to a week's camp for adults, doing lots of courses. Learned seakayak, bow and arrow shooting, ect.
- Went on a long summer vacation in own country, like we usually do.
- Went on a photohike in a national park.
- Went on an organized weekend hike, to meet some other people.
- Drove to above the polar circle and spent 2 weeks in an apartment there. Doing many hikes/walks there. Experiencing the beautiful colours of the sky and how it is in the week with the sun under the horizon.
- Spending Christmas at home for the first time, I think. We still had some tree decorations, but had to buy new tree lights. Trees (normal and small one) were picked in the local forest.
- Spending new year at the cabin, skiing.
- I did lots of cooking from recipees, almost all dishes from a cookbook with Turkish dishes. Some from Budget Bytes, but DH is not so enthusiastic about the latter. I also baked many sourdough breads, gradually getting better results.
- DH sent in his notice yesterday, as he was still officially employed but on a year sabbatical until the end of 2020. He has 3 months notice by contract, but we hope they won't let him start in January 2021.
Post by: MarcherLady on December 31, 2020, 09:25:10 AM
- Knitting
- Listening to podcasts - I am loving EOS10 and also enjoyed Limetown, although the latter was a bit creepy!
- Lots of walking
- Finishing the redecoration of the spare bedroom, just in time for another lockdown...
- Watching Spiral on BBC iplayer - series 8 starts soon and I have catching up to do
Next year I'm hoping to feel ready to do some volunteering - my community is starting to plan some loneliness-combatting initiatives for next year. Lockdowns have been tough for our more elderly villagers who don't have computer access or skills.
Post by: 2sk22 on December 31, 2020, 04:49:27 PM
- Came down with covid and recovered in April
- Older daughter graduated and got accepted into one of the top biology programs for her PhD
- Drove half way across the country and helped daughter get settled in St Louis
- Lost my father to Alzheimer's
- Retired at the beginning of October
- Spent much fo the next month cleaning up my house and getting rid of twenty plus years of accumulated junk
- Got my basement workshop renovated and ready for new projects.
Post by: Mmm_Donuts on January 01, 2021, 07:42:59 AM
2020 for me was about:
• quitting a very stable FT job to go part time when not yet at our FI level
• watching the investment accounts immediately plummet ~20%
• hitting FI level at the end of the year anyway
• relearning basic stay-at-home skills like cooking, cleaning, gardening, exercise and meditation and general self care habits
• letting go of and saying no to stressful situations (mostly at work)
• letting go of my tendency to want to plan the future (seems impossible this year to make any plans)
• holding on to the PT job until the whole FI thing settles in to my psyche (it seems 100% surreal right now)
• learning to be more generous. I have a plan (!) right now to donate a percentage of my work income over the next year. This helps me feel like I'm making a difference in the world while so many are suffering, and it motivates me to keep working for a little while longer until I feel more steady with this new situation.
• trying to repair relationships that had been negatively affected by prior work stress
Happy new year all!
Post by: 2Birds1Stone on January 01, 2021, 07:58:34 AM
Post by: Unique User on January 01, 2021, 08:26:57 AM
Post by: lemanfan on January 01, 2021, 01:11:40 PM
Post by: Linea_Norway on January 01, 2021, 01:56:41 PM
01/01/20 firebrand CONFIRMED
01/01/20 Nancy CONFIRMED
01/01/20 openroadadventure (@53/50) CONFIRMED
01/03/20 nwa-non CONFIRMED
01/07/20 alienbogey's wife CONFIRMED
01/15/20 Nifty
01/15/20 Nickel (@55) CONFIRMED
01/15/20 GettingClose's husband CONFIRMED
01/31/20 ATS (@52) CONFIRMED
01/31/20 DisplacedHoosier (@57) CONFIRMED
02/03/20 grobinski (@52/53) CONFIRMED
02/03/20 IslandFIGirl CONFIRMED
02/07/20 JumboShrimp CONFIRMED
02/29/20 lemanfan CONFIRMED, but maybe not forever
03/01/20 Bmjohnson (@50) CONFIRMED
03/05/20 LadyMaWhiskers CONFIRMED
03/06/20 damyst CONFIRMED
03/10/20 Katmandew (@54/48) CONFIRMED
03/13/20 CrazyIT CONFIRMED
03/13/20 ysette9 (@38) CONFIRMED
03/13/20 Padonak CONFIRMED
03/13/20 Maenad CONFIRMED
03/16/20 Beeboy (@46) CONFIRMED
03/20/20 Mmm_donuts CONFIRMED
03/??/20 FInding_peace (@38)
03/19/20 wildatheart (@53) CONFIRMED
04/01/20 FlytilFIRE CONFIRMED
04/15/20 hybrid CONFIRMED
04/15/20 Indio CONFIRMED
04/17/20 Ottawa
04/??/20 DreamFIRE
05/08/20 rab-bit CONFIRMED
05/21/20 Body Surfer CONFIRMED
05/31/20 Dee18 CONFIRMED
05/??/20 Rcc SWAMI
05/??/20 Lady Stash (@45)
06/01/20 bobble CONFIRMED
06/05/20 thelyon19
06/15/20 BigHaus89
06/15/20 aspiringnomad (@37) CONFIRMED
06/16/20 Kteach CONFIRMED
06/30/20 LateStarter CONFIRMED
06/??/20 ixtap (date uncertain)
07/04/20 myobjectivism CONFIRMED
07/07/20 FrugalFarmer CONFIRMED
07/10/20 Zsazsa CONFIRMED
07/20/20 Alienbogey CONFIRMED (accepted package from employer)
07/??/20 or later 20 MMM123
07/??/20 bas5252 (@55)
08/03/20 SugarMountain CONFIRMED (negotiated severance package)
08/07/20 HappyCheerE (@55) CONFIRMED
08/07/20 Kroaler(@29) CONFIRMED
08/11/20 rab-bit's wife CONFIRMED
08/14/20 BeanCounter (@42) CONFIRMED
08/28/20 Albireo13 (@64) CONFIRMED
08/28/20 MoneyTree's wife CONFIRMED
08/31/20 fishnfool CONFIRMED (Accepted package from employer)
09/01/20 RetireAbroadAt35
09/04/20 Lucky13 (@44) CONFIRMED
09/06/20 APowers (@31) CONFIRMED COAST FIRE
09/09/20 ItsALongStory (@39) CONFIRMED
09/17/20 Dan23 CONFIRMED
09/30/20 Fresh Bread's husband
09/30/20 CoffeeAndDonuts Given notice to employee
09/30/20 2sk22 CONFIRMED
10/01/20 apurplelife CONFIRMED
10/01/20 rae09 CONFIRMED
10/01/20 ycc-phil/YK-Phil (@62) CONFIRMED
10/02/20 Farmgirl (@61) CONFIRMED
10/02/20 CptCool CONFIRMED
10/02/20 FirePaddle (@41) CONFIRMED
10/02/20 norajean CONFIRMED (accepted package from employer)
10/03/20 gooki (@40) CONFIRMED
10/20/20 SpreadsheetMan CONFIRMED
11/09/20 DireWolf's wife Given Notice
11/10/20 exit2019
11/20/20 Alternatepriorities Scope Creep
12/05/20 Freedomsaver (@38) CONFIRMED
12/14/20 Megs123 Given notice
12/15/20 MarcherLady CONFIRMED
12/17/20 honneyfill CONFIRMED
12/20/20 gertitorpe (@32) CONFIRMED
12/28/20 SailingOnASmallSailboat's husband (@50/51) CONFIRMED
12/31/20 Freedomin5's husband CONFIRMED SWAMI
12/31/20 Freedomin5 (@38) CONFIRMED SWAMI
12/31/20 Unique User (@50) CONFIRMED
12/31/20 robtown CONFIRMED
12/31/20 Bateaux
12/31/20 Chris@TTL + Jenni
12/31/20 BikeFanatic (@55)
12/??/20 david_shin
12/??/20 Nora (@42)
12/??/20 TheFIExplorer
??/??/20 DadzillaGorilla (FI@35, RE@40)
??/??/20 FIREstache (@55)
??/??/20 letsdoit
??/??/20 onlykelsey
??/??/20 tooqk4u22
??/??/20? Gumption
OLY:
meatgrinder
Life in balance (end of 2019)
2Birds1Stone (autumn 2019)
Firebrand (second week of December 2019)
OMY:
RedefinedHappiness
FIREby2021 (Q1 2021)
TheContinentalOp (2021)
Sand101
desk_jockey
Pennycounter (or maybe fall 2020)
JoJo (FIRE maybe March 2021, working 60%)
tipster350 (2021)
Rubyvroom
texxan1
MoneyTree
FireLane (Working part-time, OMY until COVID vaccine)
WYOGO (Working until COVID vaccine)
Bownyboy
Exit2019
catccc
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
Post by: Linea_Norway on January 01, 2021, 01:59:05 PM
Post by: ItsALongStory on January 02, 2021, 12:07:49 AM
Happy new year to you all and congrats to those who have pulled the plugg.Same to you and thanks for keeping the table updated throughout.
Post by: Trifle on January 02, 2021, 02:31:57 AM
Post by: By the River on January 04, 2021, 10:54:23 AM
What would have happened if he's just hung on to it?
Not the person you're replying to, but I think everyone who was around for the dotcom actually has friends who all would answer the question with the same answer: it went to zero.
We're in a strange time. Diversification is your friend. All of this stuff is a question of upside-vs-downside risk. If you're willing to start again, let it ride.
Just back in the office after a long break but exactly right Exit2019, the company crashed to zero.
Post by: robtown on January 16, 2021, 08:19:49 AM
The last few months have been a slow slide into less activity and good practice. Of course having reunited with my wife, who preceded me by 15 months, I'm back under management.
Post by: honeyfill on January 16, 2021, 08:58:31 AM
Jan 14 , I received my last pay check and started COBRA.
Things have gone great so far, I've played more golf than ever and I am starting to catch up on all the household projects that I have been putting off. Last night I attended my first cooking class ever. We learned how to make Shrimp Scampi and Fettuccini Alfredo.
Bad news is that our May Cruise in Greece was cancelled. We replaced it with a Jan22 Antarctica/Argentina cruise. So Far our Grand Canyon rafting trip in June and our Ireland trip in August are still on but I am not optimistic.
All in all, things are working out great. This is my third early retirement, I was laid off in 2003 and tried to just work part-time contracting for a couple of years. That did not work out. Then retired again in 2018 but panicked when the market dropped 20% at the end of the year. I went back to work in June of 2019. I was going to retire again in March 2020 but Covid hit. Lets hope the third time is the charm!
Post by: Linea_Norway on January 16, 2021, 12:13:06 PM
On December 31, 2020 I mailed my badge to HQ and boarded the Autotrain to my retirement house in Florida. It's only FI, since RE is about 25 years late. My FI is on the lower end of my range (well within mustachio-ism) but I have a couple investments that should bump that a bit higher.
The last few months have been a slow slide into less activity and good practice. Of course having reunited with my wife, who preceded me by 15 months, I'm back under management.
Congrats. Maybe you will be able to get some income in the coming years.
I was lucky this year. Despite not working at all in 2020, I managed to get in more money in than I spent. This includes last year's vacation money, with is a nett month salary. I also got unemployment money. We sold quite a bit of stuff second hand, I got some credit card bonusses and I had a bit of hobby income. And some interest on my money. Not counting profit on my stocks. All together it just covered my expenses. But not DH's expenses. DH is now working for 3 months, until he stops again in April.
We did in 2020 buy an almost new car, which is a big expense in my country. But have decided to divide the cost by 10 for the coming 10 years, which is how long we had the previous car.
Post by: Linea_Norway on January 16, 2021, 12:16:35 PM
My last day was Jan 4. I turned in my badge, phone and computer and transferred all my work in progress to the 3-4 people who will take over my various projects. My last day in the office was Dec 10 and my last day with actual work was Dec 17. On
Jan 14 , I received my last pay check and started COBRA.
Things have gone great so far, I've played more golf than ever and I am starting to catch up on all the household projects that I have been putting off. Last night I attended my first cooking class ever. We learned how to make Shrimp Scampi and Fettuccini Alfredo.
Bad news is that our May Cruise in Greece was cancelled. We replaced it with a Jan22 Antarctica/Argentina cruise. So Far our Grand Canyon rafting trip in June and our Ireland trip in August are still on but I am not optimistic.
All in all, things are working out great. This is my third early retirement, I was laid off in 2003 and tried to just work part-time contracting for a couple of years. That did not work out. Then retired again in 2018 but panicked when the market dropped 20% at the end of the year. I went back to work in June of 2019. I was going to retire again in March 2020 but Covid hit. Lets hope the third time is the charm!
Congrats. You cannot keep waiting forever. Life runs away fast.
I don't count on making any foreign trips any time soon. But being home and minding my own business beats working on a job any time.
Post by: KarefulKactus15 on February 24, 2021, 07:26:13 AM
Anyway I sort of accidentally FIREd on August 7th 2020 after following MMM from age 20-> 29.
My passive income from investments and businesses I own covers all my bills and I don't plan to work a w2 job again in my life.
Do I qualify? Who knows, maybe the "retirement police" will tell me I don't qualify since I still "work" on things I enjoy that produce income. (I have imposter syndrome)
Anyway congratulations to everyone who made 2020 their last year. It was a GREAT year to be able to walk away from.
Post by: tawyer on February 24, 2021, 02:47:41 PM
So I'm not sure if I belong here. I wasn't following the thread cause my fire date was waaaaay out.Congrats! I'm on the side of retirement meaning no more W-2 and no more corporate: living on one's own terms. I look forward to reading about your businesses, should you choose to share.
Anyway I sort of accidentally FIREd on August 7th 2020 after following MMM from age 20-> 29.
My passive income from investments and businesses I own covers all my bills and I don't plan to work a w2 job again in my life.
Do I qualify? Who knows, maybe the "retirement police" will tell me I don't qualify since I still "work" on things I enjoy that produce income. (I have imposter syndrome)
Anyway congratulations to everyone who made 2020 their last year. It was a GREAT year to be able to walk away from.
Post by: Linea_Norway on February 25, 2021, 01:24:15 AM
So I'm not sure if I belong here. I wasn't following the thread cause my fire date was waaaaay out.
Anyway I sort of accidentally FIREd on August 7th 2020 after following MMM from age 20-> 29.
My passive income from investments and businesses I own covers all my bills and I don't plan to work a w2 job again in my life.
Do I qualify? Who knows, maybe the "retirement police" will tell me I don't qualify since I still "work" on things I enjoy that produce income. (I have imposter syndrome)
Anyway congratulations to everyone who made 2020 their last year. It was a GREAT year to be able to walk away from.
Congrats. You are so young!
I put you in the list.
Post by: rab-bit on March 10, 2021, 05:55:46 AM
It turns out that 2020 was a great year to retire in the USA. Although our 2019 income was too high to get the first two stimulus checks, our 2020 income was much lower so we got both stimulus payments as a refund to our 2020 tax return. And we will also get the third stimulus payment as a direct deposit as well. Add to that the improvements to the ACA in the new legislation as well as the overall great market returns in 2020, and I find that we are in an even better financial position that I had expected at this point.
Post by: Farmgirl on May 02, 2021, 05:57:01 AM
Money wise, we have ended up in better shape than when I left the cube. Haven't needed to touch the stash at all yet.
Our household is among the lucky and have remained Covid free and vaccinated.
That's about it for now. Best wishes to my fellow cohorts.
Post by: Linea_Norway on May 02, 2021, 09:38:33 AM
It was fun reading all of the posts from fellow cohorters. I must say that after our fall market season (stripped way down because of Covid--lots of cancellations), it took about three months to realize I wasn't going back to the cube. Weirdly quiet and strange. It took some getting accustomed to and I'm still not sure I'm there. I'm finally getting the motivation to deal with some projects around the house that have needed attention. Mainly, dealing with 30 years of paperwork (organized and in boxes, but not needing the backup anymore), and family photographs that have been in piles in a chest of drawers. My husband helps keep us on track, because it's overwhelming to me (I kinda just glaze over).
Money wise, we have ended up in better shape than when I left the cube. Haven't needed to touch the stash at all yet.
Our household is among the lucky and have remained Covid free and vaccinated.
That's about it for now. Best wishes to my fellow cohorts.
Good to hear from you. We are also COVID free, but not vaccinated yet, as we depend on imported vaccins.
We used up a part of our stash on renting a house. But we also had some income. So things are looking good. Although I could have been happier with a much higher interest rate on savings.
Post by: Alternatepriorities on May 02, 2021, 11:38:53 AM
Post by: YK-Phil on May 26, 2021, 05:05:09 PM
I finally pulled the plug on October 1. At 62, it is not early retirement by FIRED standard. But I was fortunate to love my environmental scientist job from day 1, and it took me a lot of introspection to decide to leave an exciting career that allowed me to spend almost 40 years of incredible adventures in the Canadian Arctic visiting the most remote places on the planet and having the unique privilege to live and work with Inuit folks while getting handsomely paid at the same time. But I realized that I was not getting any younger and that it was the right time to take a new road. Literally. In the past five years, I was very fortunate to negotiate a remote work arrangement with my employer that allowed me to overland every winter between Northern Canada and Mexico. Now the plan, if covid-19 allows it, is to continue down the Panamericana in my old 4x4 van until I reach Tierra del Fuego. Alea iacta es...
Update: I am enjoying retirement but sadly we couldn't drive down to Central America as planned since the Canada-US border was and is still closed to non-essential travel. I got quickly bored in Canada so I convinced DW to get out of Dodge and move to Mexico at least for one year or until we can start to travel freely. We applied and got permanent residence in Mexico, a quick and easy process that took a week between the first call to book the appointment and getting the visa in our passport. With permanent residence, we can now legally stay in the country for as long or as little as we want without any further renewal. We packed a few things and left a week later. Luckily, one of my daughters was looking for a place to live and moved to our condo an hour after our departure, so that was great timing. In Mexico, we rented for several months a small basic studio for $300US in a rural village of 1200 people on the Pacific coast an hour north of Puerto Vallarta. No hot water, sometimes no water at all, but a quasi-empty beach to die for a few minutes down the dirt road, so we really couldn't complain. Last month we were given the opportunity to do a couple of back-to-back pet-sitting gigs in two beautiful villas in Puerto Vallarta where we will be staying until the end of September. Now living large in a beautiful lively city for free, with unlimited hot showers that we really don't need at this very hot time of the year :D
Post by: lemanfan on May 27, 2021, 12:58:51 PM
Post by: AO1FireTo on May 27, 2021, 07:38:24 PM
I finally pulled the plug on October 1. At 62, it is not early retirement by FIRED standard. But I was fortunate to love my environmental scientist job from day 1, and it took me a lot of introspection to decide to leave an exciting career that allowed me to spend almost 40 years of incredible adventures in the Canadian Arctic visiting the most remote places on the planet and having the unique privilege to live and work with Inuit folks while getting handsomely paid at the same time. But I realized that I was not getting any younger and that it was the right time to take a new road. Literally. In the past five years, I was very fortunate to negotiate a remote work arrangement with my employer that allowed me to overland every winter between Northern Canada and Mexico. Now the plan, if covid-19 allows it, is to continue down the Panamericana in my old 4x4 van until I reach Tierra del Fuego. Alea iacta es...
Update: I am enjoying retirement but sadly we couldn't drive down to Central America as planned since the Canada-US border was and is still closed to non-essential travel. I got quickly bored in Canada so I convinced DW to get out of Dodge and move to Mexico at least for one year or until we can start to travel freely. We applied and got permanent residence in Mexico, a quick and easy process that took a week between the first call to book the appointment and getting the visa in our passport. With permanent residence, we can now legally stay in the country for as long or as little as we want without any further renewal. We packed a few things and left a week later. Luckily, one of my daughters was looking for a place to live and moved to our condo an hour after our departure, so that was great timing. In Mexico, we rented for several months a small basic studio for $300US in a rural village of 1200 people on the Pacific coast an hour north of Puerto Vallarta. No hot water, sometimes no water at all, but a quasi-empty beach to die for a few minutes down the dirt road, so we really couldn't complain. Last month we were given the opportunity to do a couple of back-to-back pet-sitting gigs in two beautiful villas in Puerto Vallarta where we will be staying until the end of September. Now living large in a beautiful lively city for free, with unlimited hot showers that we really don't need at this very hot time of the year :D
Wow sounds like quite the adventure and not too hard on the stache :) Enjoy the retirement.
Post by: Much Fishing to Do on August 07, 2021, 06:26:52 AM
I've been listed in this thread as: "Not fully FIREd, but partly.....05/01/20 Much fishing to do Working PT from home occasionally". My hours (I'm paid hourly) had reduced so much at that point I definitely felt over half-FIREd. But in late 2020 the work for my team REALLY picked up, and so did the hours needed from me to manage to moving parts and get all the work done (before then I could pretty easily pass off most work to my very experienced direct reports, and again given I am only paid for the hours I work as long as the work got done and deadlines met that was just fine for everyone). 2021 has been very busy, and all of the sudden I found myself working 30-40 hours weeks again. Last month as I was arguing some stupid point with a client and getting no support (well, worse than none) from management, while fighting with some stupid computer I was so tired of looking at, I realized I was DONE and needed to rip the bandaid off.
Due to all the revenue coming in this year, my incentive compensation from the year will be pretty significant if I see it thru to that payment (maybe $150k?) so that plus the another ~$150k from my normal pay over the next six months seems like a lot to pass up. Plus this will have me FIREing as I turn 50, and the normality of retiring 'in my 50s' as I could say I like (and I think SAHM really likes, she's always been hesitant of extreme early retirement talk, just nervous as to how a family can live decades of a normal family life without income from working, but I've really seen that change over the past couple years as she's noticed my income, whether way down or up, just has no affect on our spending and relatively little on our networth movement, but really I think a lot of it has to do that retiring "in your 50s" is something that a number of people do do).
Its gonna be a struggle if the hours do stay up that high and there are too many problematic clients/projects, so I admit I might not make it, but that's fine too.
Post by: EscapeVelocity2020 on August 07, 2021, 12:02:21 PM
Post by: ToughMother on October 28, 2021, 09:16:54 AM
FIREing later:
FIPurpose (date to decided)
ToughMother (date to be decided)
GettingClose working 50% and not in management from 04/01/2020 for another year.
Katmandew (@54), parttime from 02/29/2020.
Itchyfeet, accepted new job.
EscapeVelocity2020 (FI in 2020, but will not RE)
BFGirl (2 more years, WFH)
FrugalAussie (@54)
BlueMR2 (Somewhere between 2021 and 2024)
Not fully FIREd, but partly.
01/01/20 Steevven1 (@29) Working PT
03/07/20 Fresh Bread Swami
05/01/20 Much fishing to do Working PT from home occasionally
First, I miss you Cohort 2020!! I spent SO MUCH time here! But life intervened and here I am still working. That said, I now have an actual date and plan that is inclusive of my spouse! 2 extra years for a 2-fer. So Cohort 2020, I'm looking at June 18, 2022. And @Much Fishing to Do , looks like I'll see you on the 2022 boards. Hoping everyone is enjoying their hard earned, well deserved FIRE!!
Post by: Linea_Norway on October 29, 2021, 04:29:54 AM
For me, I spent a lot of time on this thread updating the list and was happy when the year was finished. But now just chatting is okay. I still enjoy not working, but I still feel there are hardly enough days in a week. I really love the mornings where you can sleep naturally long and take it easy for breakfast. I also live that I don't have to dread the Sunday evenings. And that I can plan trips outdoor in accordance with the weather, not with the weekend days. And that we don't have to drive in rush hour anymore if we visit our cabin or other places.
Now is a bit of a more difficult period. The days are getting shorter and there is no snow yet. Therefore we bought concert tickets for a local concert tonight. An artist I hardly know, but just something different to visit. First concert since COVID for us.
Post by: KarefulKactus15 on October 30, 2021, 12:15:41 PM
I actually worked 2 different W2 jobs from April-July during 2021. Both of them were to gain some life skills that I had wanted but previously didn't have time to pursue. Was really fun though. One of them didn't have rigid start/end time and me and a work partner I enjoyed hanging with just rode around outside on a golf cart all day helping people. But then I needed like 3 weeks off so the only way was to quit. Good to be FI I suppose.
Now I'm back to growing a small business that I'm really enjoying working on. First year and so far its running under its own financial power.
So anyway - I'm a fraud. But it is so freeing to know that everything I do, is because I want to and not because I have to. I can still up and take a vacation somewhere for as long as I want. That's such a relief since I previously never had more than 1 week off in a row from age 18-29. I'm actually planning about a 2 month cross country trip cause why the fuck not?
Hope its still going great for everyone else!
Post by: Farmgirl on December 23, 2021, 12:35:36 PM
Finishing up a busy 2021. Retail business from our farm store was brisk, to put it lightly. So grateful that the farm could pay us back on the loan from earlier in the year, with enough to make some repairs to the barn and operate for most of 2022.
I did a little paid work in October helping with a quilt festival. Didn't expect to be paid, but was pleasantly surprised when a check arrived. Might do some more next summer. I am working on a quilt to sell next summer too, but the days go by so quickly and are filled with this and that. For the past two weeks we have been helping some former customers with a very sick animal, traveling at least 2x a day to give it shots. A great blessing of retirement is the ability and time to help without stress that an employer will get mad at you taking too much time off (even if you make up the time). Very happy those days are behind me.
We managed to get through 2021 without hitting our investments, although we did hit cash savings a little, but not much. Things just have a way of working out.
Much happiness to you and yours for a prosperous and healthy 2022.
Post by: ysette9 on December 23, 2021, 05:08:52 PM
On my side I feel like my own FIRE only my started this September when my youngest started at preschool. Prior to that I was slogging through the very un-fun and unpaid SAHP job. So finally I am starting to decompress and doing things for myself. Those quiet hours by myself are the most wonderful thing ever.
My husband quit his job last week so starting January 2022 when the kids go back to school we will both officially be doing the FIRE thing together. Fingers crossed things go well!
Post by: boarder42 on December 23, 2021, 05:25:39 PM
I appreciate the updates. It sounds like people are along well.
On my side I feel like my own FIRE only my started this September when my youngest started at preschool. Prior to that I was slogging through the very un-fun and unpaid SAHP job. So finally I am starting to decompress and doing things for myself. Those quiet hours by myself are the most wonderful thing ever.
My husband quit his job last week so starting January 2022 when the kids go back to school we will both officially be doing the FIRE thing together. Fingers crossed things go well!
This is why our kids are in daycare and preschool. Sahp is not a retired position. Not being the erp here but it's alot of work. Our "weekends" are the 4 days we don't have kids at home.
Post by: ysette9 on December 23, 2021, 05:56:08 PM
AmenI appreciate the updates. It sounds like people are along well.
On my side I feel like my own FIRE only my started this September when my youngest started at preschool. Prior to that I was slogging through the very un-fun and unpaid SAHP job. So finally I am starting to decompress and doing things for myself. Those quiet hours by myself are the most wonderful thing ever.
My husband quit his job last week so starting January 2022 when the kids go back to school we will both officially be doing the FIRE thing together. Fingers crossed things go well!
This is why our kids are in daycare and preschool. Sahp is not a retired position. Not being the erp here but it's alot of work. Our "weekends" are the 4 days we don't have kids at home.
Post by: Alternatepriorities on January 02, 2022, 12:13:18 AM
We came close to planning a sabbatical year for DW to hike the PCT and travel, but decided not to for at least another year or two as she really likes what she is doing now.
The one downside to spending so much less time at my computer is I’ve really fallen behind on the forum…
Happy New Year of FIRE everyone.
Post by: bobble on January 02, 2022, 01:39:33 AM
Here in Scandinavia I think that the standard work-life balance is quite close to the lifestyle that I want. I plan to take a long summer vacation and to disconnect from work on evenings and weekends.
See how it goes!
Post by: lemanfan on January 02, 2022, 01:45:06 AM
The one downside to spending so much less time at my computer is I’ve really fallen behind on the forum…
Happy New Year of FIRE everyone.
Happy New Year!
I thought of this thread and the class of 2020... personally, I have not yet fallen back to working but I kind of got stuck in a rut (and in my apartment) due to Covid... so I have spent a little too much time in front of my computer. Right now I'm trying to get more proactive in where I spend my time, and to spend a bit more of it away from the keyboard. The winter up here in Scandinavia is really not my favorite time of year but it is still the wrong year to travel to greener pastures.
I have also started contemplating taking some sort of job or consulting contract, or perhaps start a new business in order to get a bit more purpose and structure in life. Frankly, I'm a bit bored of just sitting alone in my apartment. Again, probably an effect of life in the time of Covid.
I have however started studying Spanish to ease future travel. Let's hope I can start travel before I get a job of of boredom. :)
How are you all doing?
Post by: SailingOnASmallSailboat on January 02, 2022, 09:01:34 AM
One year in. Lots of boat work and even managed a 4-month shakedown sail to test all the new systems on board. Sad not to be heading south but Covid restrictions in the islands still make moving around down there a challenging endeavor.
We just spent 2 weeks with my mother in law and it really really hit home how fabulous it is to be flexible with our time. Being able to help her with little house things and just be together was a gift of being FIREd. Now we're hunkering down to wait out this Omicron wave.
Post by: lemanfan on January 02, 2022, 10:17:48 AM
We just spent 2 weeks with my mother in law and it really really hit home how fabulous it is to be flexible with our time. Being able to help her with little house things and just be together was a gift of being FIREd. Now we're hunkering down to wait out this Omicron wave.
I do agree that I appreciate the flexibility. I have two friends who have been in need of assistance and I have been able run errands for them and help with stuff that would have been hard with a job. :)
Post by: wildatheart on May 04, 2022, 08:44:20 AM
Post by: Alternatepriorities on May 05, 2022, 12:24:00 AM
Just wondering if anyone else in this cohort is considering returning to work given the current market downtrend.
I think the current wage environment has been more tempting for me along with DW not being ready for RE just yet. I’m not going to give it any serious consideration before winter sets in again. So many things to do in the summer.
Post by: 2sk22 on May 05, 2022, 02:31:01 AM
Just wondering if anyone else in this cohort is considering returning to work given the current market downtrend.
Absolutely no intention of ever going back to work! Enjoying retirement way too much :-)
Post by: Linea_Norway on May 05, 2022, 03:15:56 AM
Just wondering if anyone else in this cohort is considering returning to work given the current market downtrend.
Like you, I am a bit worried. In my country everything is getting very expensive, because of the following:
We now share an electricity cable with Europe and therefore our electricity prices have tripled or been x 5. we have a lit of reservoir lakes to produce electricity, but it hadn't rained in months. And there is little snow to melt. So very high electricity prices. Europe is influencing our prices. Their prices are high because they import gas from Russia, which is now complicated.
Our groceries are getting expensive. Farmers are having a very hard time. Diesel prices for the farmers have skyrocketed. Artificial furtilizer prices have skyrocketed. Are well as the beforementioned electricity prices, for farmers who grow food in greenhouses. Therefore our food will get expensive.
Ukrain used to be a big wheat exporter. We can only assume the Ukranian farmers won't be able to do their job. Therefore we will probably get wheat shortages.
Our fual prices have gone up with 40-60% last year. Driving is therefore costly. We own a hybrid car and drive short distances electric with the before mentioned high electricity prices. But driving long distance on petrol is expensive.
The national interest will go up, but that is only positive for me who has only cash instead of loans. The rest of the country will get higher interest on their mortgage.
Because of prcies going up, the salaries will go up. The first unions have negotioted a 3% raise. This means inflation is high. Our savings down grow at that pace.
Then comes the market. At the beginning of January 2022, I counted myself rich with my index funds. Since the war, my funds sunk with half a million Norwegian crowns, about 50K euro. That is more than 10% of my funds. I am getting slightly nervous. When we sold our house, we had a lot of cash. I have been investing quite a few bits of that into index funds and have only about 2 years of expenses in cash left. DH does his own financial stuff, so this is about my half. But I cannot live forever on my cash and I don't like to sell stock with loss. Of course, my stock are still 15% up in total, but I did loose my last cash investments.
I really don't want to go back to my previous job or something likewise. But I could consider some low stress parttime job. I am not not in the mental mood for working yet. DH always says that working a high paying job will make that you need to work fewer ours to earn the same. But for me, it requires a few too much concentration and will cause stress. I really like my life as a non-working person.
Post by: LateStarter on May 05, 2022, 07:16:34 AM
Just wondering if anyone else in this cohort is considering returning to work given the current market downtrend.
Most markets are higher than when we retired so it seems very early to be worrying about them. Inflation is a concern but it's effects can be mitigated to some extent. A resilient and flexible plan / lifestyle seem to be the key.
I try not to waste time worrying about what might happen tomorrow. There's no way of knowing and I get more surprised by what does happen with every passing year . . .
Retirement is way too good to be thinking about work.
Post by: ysette9 on May 06, 2022, 07:30:56 AM
Things are sort of wild out there. Inflation is showing up here in the US as well, though not like just described above. Wow. I read of energy prices being impacted by Russia, but hasn’t appreciated here to that extent.
Timing of markets being down and inflation is poor for us. We are still spending money like drunken sailors on all of our house remodel projects. The more we do, the more we realize needs to be done on this house. It makes me happy that my husband worked extra and we built up what should have been a good extra chunk of safety.
Sometimes I think about going back to work part time. Not really for the money but for all of the other things work used to provide. I hadn’t realized in the moment how important alone time is to me, and how work paradoxically gave it to me. Being a parent full time, even with the kids at school during the day, is emotionally exhausting to me. Like Covid lockdown broke something in this introvert and I still haven’t recovered. My dearest dream these days is to spend a week or a month in an Airbnb in a remote place by myself. But with three small kids at home that isn’t possible.
Post by: rab-bit on May 06, 2022, 09:12:08 AM
Just wondering if anyone else in this cohort is considering returning to work given the current market downtrend.
It's great to hear the updates from everyone!
DW got a part-time job and I have been doing some freelance work (around 20 hours per week for each of us), but not because of inflation or the market downturn, we just wanted something else to do. Both of our jobs pay much less than what we used to earn, but they are low stress and with my freelance work, I can just take work when I want it.
We're in good shape because we've only spent around 2% of our retirement savings over the last two years. Our part-time and rental incomes cover most of our expenses. When we first quit our jobs, I was still "running the numbers" pretty often, but I've gotten to the point that I don't worry at all about it anymore.
Post by: lemanfan on May 06, 2022, 10:28:49 AM
Just wondering if anyone else in this cohort is considering returning to work given the current market downtrend.
Well.. since I stand out in the list with "maybe not FIRE forever", the thoughts of doing something - work of some sort, starting a new business - are still there.
For me it's not too much of the market situations, my stash will hopefully survive the trends and some inflation (which we notice here too, food stuffs is noticeable higher in Sweden than last year, and energy prices has skyrocketed), but rather to DO SOMETHING.
This DO SOMETHING is partly to have more social contacts than my single retired loner life, but also to DO SOMETHING regarding the political risks now. Either get an income so I can contribute more to the Ukrainian cause, or to use my professional skills to help local companies get better cyber security. The "kinetic war" is this far only in Ukraine, but cyber attacks may happen also here. I've even considered trying to become somewhat politically active, since we have internal political troubles in my country too now with some strange actors that really needs a counter force. Not really up for being a public figure though, I prefer my loner "gray man" life. Perhaps an income can allow be mental room for donations to sane and sensible politicians at least?
I've also started planning to get a new car, again due to security concerns of several kinds where my little summer only two-seater car may not be enough. I think this car will fit in my current FIRE budget but raised to be frugal it would be nice to compensate with some income to help offset the purchase price.
Our currency (Swedish krona) is currently dropping against the dollar which makes the investments looking better when it's exposed to the world market but then again it makes all imports more expensive.
So.. maybe a job or a new company, but not because of the stock market.
Post by: Alternatepriorities on May 06, 2022, 10:59:04 AM
It's great to hear the updates from everyone!
When we first quit our jobs, I was still "running the numbers" pretty often, but I've gotten to the point that I don't worry at all about it anymore.
Both of these statements resonate with me. I’ve just started to spend a little more time on the forum again after really walking away from the computer for a year and it’s nice to hear how others are doing on this thread. I’ve also slowly stopped running the numbers as often, but I have noticed the increased spending even without really tracking spending or having a real budget this year.
I can also related to the idea of wanting to “do something”. There are many problems in the world that need an engineers attention and not all of them pay in accordance with how important I think they are to solve. It seems like one advantage of being FI is being free to work on those projects. If I can find others working on them that might be nice too but it would start to sound like a job…
Post by: 2Birds1Stone on May 06, 2022, 11:16:51 AM
Then comes the market. At the beginning of January 2022, I counted myself rich with my index funds. Since the war, my funds sunk with half a million Norwegian crowns, about 50K euro. That is more than 10% of my funds. I am getting slightly nervous. When we sold our house, we had a lot of cash. I have been investing quite a few bits of that into index funds and have only about 2 years of expenses in cash left. DH does his own financial stuff, so this is about my half. But I cannot live forever on my cash and I don't like to sell stock with loss. Of course, my stock are still 15% up in total, but I did loose my last cash investments.
I would read and then re-read this post by big ERN.
https://earlyretirementnow.com/2019/10/30/who-is-afraid-of-a-bear-market/
We've had 11 bear markets in the past ~100 years. It's reasonable to expect at least a few during your FIRE journey.
Looks like they typically last just under 2 years from peak to low, and full recovery takes about 3.5-5 years.
Stick to your plan and enjoy the ride.
Post by: Lews Therin on May 06, 2022, 11:34:39 AM
Post by: bmjohnson35 on May 06, 2022, 04:37:10 PM
Then comes the market. At the beginning of January 2022, I counted myself rich with my index funds. Since the war, my funds sunk with half a million Norwegian crowns, about 50K euro. That is more than 10% of my funds. I am getting slightly nervous. When we sold our house, we had a lot of cash. I have been investing quite a few bits of that into index funds and have only about 2 years of expenses in cash left. DH does his own financial stuff, so this is about my half. But I cannot live forever on my cash and I don't like to sell stock with loss. Of course, my stock are still 15% up in total, but I did loose my last cash investments.
I would read and then re-read this post by big ERN.
https://earlyretirementnow.com/2019/10/30/who-is-afraid-of-a-bear-market/
We've had 11 bear markets in the past ~100 years. It's reasonable to expect at least a few during your FIRE journey.
Looks like they typically last just under 2 years from peak to low, and full recovery takes about 3.5-5 years.
Stick to your plan and enjoy the ride.
That'a good stuff........scary stuff, but a good reality check. Inflation is the scariest variable to me. I remember my 9.5% mortgage on our first house. Fortunately, we are debt free these days, but inflation is a real threat. Hopefully, the fed can get on top of it. Don't plan to make any significant changes to our plans or return to work at this time. I agree.......enjoy the ride!
Post by: Linea_Norway on May 07, 2022, 04:32:13 AM
Then comes the market. At the beginning of January 2022, I counted myself rich with my index funds. Since the war, my funds sunk with half a million Norwegian crowns, about 50K euro. That is more than 10% of my funds. I am getting slightly nervous. When we sold our house, we had a lot of cash. I have been investing quite a few bits of that into index funds and have only about 2 years of expenses in cash left. DH does his own financial stuff, so this is about my half. But I cannot live forever on my cash and I don't like to sell stock with loss. Of course, my stock are still 15% up in total, but I did loose my last cash investments.
I would read and then re-read this post by big ERN.
https://earlyretirementnow.com/2019/10/30/who-is-afraid-of-a-bear-market/
We've had 11 bear markets in the past ~100 years. It's reasonable to expect at least a few during your FIRE journey.
Looks like they typically last just under 2 years from peak to low, and full recovery takes about 3.5-5 years.
Stick to your plan and enjoy the ride.
That'a good stuff........scary stuff, but a good reality check. Inflation is the scariest variable to me. I remember my 9.5% mortgage on our first house. Fortunately, we are debt free these days, but inflation is a real threat. Hopefully, the fed can get on top of it. Don't plan to make any significant changes to our plans or return to work at this time. I agree.......enjoy the ride!
@2Birds1Stone
I was very much into the mindset of this website about investing before FIRE. But since then, I have tried to time the market, buying more every time I saw a dip in the market, rather than buying more on a regular basis. And currently my cash is not enough to cover several years of a crash. So I am in doubt whether to take out a bunch now before it crashes even more. But of course, I should rather take out a regular sum all the time. I will read the article in a moment.
@bmjohnson35
In case of having a mortgage, in that case inflation is great, it will reduce the value of your debt. House prices will go up.
Post by: Linea_Norway on May 07, 2022, 05:19:26 AM
Then comes the market. At the beginning of January 2022, I counted myself rich with my index funds. Since the war, my funds sunk with half a million Norwegian crowns, about 50K euro. That is more than 10% of my funds. I am getting slightly nervous. When we sold our house, we had a lot of cash. I have been investing quite a few bits of that into index funds and have only about 2 years of expenses in cash left. DH does his own financial stuff, so this is about my half. But I cannot live forever on my cash and I don't like to sell stock with loss. Of course, my stock are still 15% up in total, but I did loose my last cash investments.
I would read and then re-read this post by big ERN.
https://earlyretirementnow.com/2019/10/30/who-is-afraid-of-a-bear-market/
We've had 11 bear markets in the past ~100 years. It's reasonable to expect at least a few during your FIRE journey.
Looks like they typically last just under 2 years from peak to low, and full recovery takes about 3.5-5 years.
Stick to your plan and enjoy the ride.
Ok, now I read it, and yes, I am scared. DH has been talking about this earlier, about a elderly couple that won/owned 13 mil $ and invested it in high risk investments. They lost most of it. DH says that the consequence of their risk was so high, that they shouldn't have done it. They could have put the money in their mattress and have been comfortable. Investing in stock was unnecessary for them.
Our case is a bit similar, as we only need to fill the gap between now and our pensions, which we hope will cover our expenses at that time. That is a gap of 17-20 years. Our money does not to last forever, it should preferably last for that period.
We are still planning to buy a house, when we find the right house. The money for it is in cash on the bank, as we don't want to risk a bear market when we need it. But I have a high sum of the rest in international index funds. That means that when the funds go down, but the Norwegian valuta goes down, my stock doesn't get down so badly. I have noticed this effect several times already. I am a bit affraid that I have too much in the stock market right now.
Another alternative could be to spread investments into rentals or so, at least something not just the stockmarket.
Post by: bmjohnson35 on May 07, 2022, 10:30:20 PM
.Then comes the market. At the beginning of January 2022, I counted myself rich with my index funds. Since the war, my funds sunk with half a million Norwegian crowns, about 50K euro. That is more than 10% of my funds. I am getting slightly nervous. When we sold our house, we had a lot of cash. I have been investing quite a few bits of that into index funds and have only about 2 years of expenses in cash left. DH does his own financial stuff, so this is about my half. But I cannot live forever on my cash and I don't like to sell stock with loss. Of course, my stock are still 15% up in total, but I did loose my last cash investments.
I would read and then re-read this post by big ERN.
https://earlyretirementnow.com/2019/10/30/who-is-afraid-of-a-bear-market/
We've had 11 bear markets in the past ~100 years. It's reasonable to expect at least a few during your FIRE journey.
Looks like they typically last just under 2 years from peak to low, and full recovery takes about 3.5-5 years.
Stick to your plan and enjoy the ride.
That'a good stuff........scary stuff, but a good reality check. Inflation is the scariest variable to me. I remember my 9.5% mortgage on our first house. Fortunately, we are debt free these days, but inflation is a real threat. Hopefully, the fed can get on top of it. Don't plan to make any significant changes to our plans or return to work at this time. I agree.......enjoy the ride!
@2Birds1Stone
I was very much into the mindset of this website about investing before FIRE. But since then, I have tried to time the market, buying more every time I saw a dip in the market, rather than buying more on a regular basis. And currently my cash is not enough to cover several years of a crash. So I am in doubt whether to take out a bunch now before it crashes even more. But of course, I should rather take out a regular sum all the time. I will read the article in a moment.
@bmjohnson35
In case of having a mortgage, in that case inflation is great, it will reduce the value of your debt. House prices will go up.
I understand that thought process while employed, but I look at it differently as a retired person. A mortgage would increase our housing costs, which would require us to spend more funds and increase our MAGI. Increasing our MAGI would affect our healthcare costs, which would increase our drawdown rate even further.
Post by: bobble on May 09, 2022, 12:31:46 PM
My portfolio is up around 34% over the past three years. Sure, it was about 45% a little while ago, but I am still doing very well. Quite likely it will recover and set a new record soon, as it did after the Covid tip last year. Inflation has to be counted too, so those numbers are optimistic, but I believe that I am very far ahead of the 4% per year real returns that I depend on for FIRE. So I am liking these sequence of returns so far.
It is convenient for me though that I happen to be working and earning extra money at the moment. I'm itching to get that money into the market before the recovery comes.
Post by: lemanfan on December 14, 2022, 09:00:29 AM
Personally, just like it said in the list, I actually have ... well sort of relapsed. Just registered a small company again in order to do limited consulting work within the areas where I have competence. So far this activity has led to three yet unpaid assignments and one quite well paid. The goal is to keep this to fun and meaningful activities, and perhaps 25% - 50% of a full time at a maximum. Without going into specifics, it's part business consulting for small or new company owners, and part using my experience in international contract negotiations in the software business.
This is not about money for me, even if I do want to make money if I take assignments (would love to donate more to e.g. Ukraine help). It's really about three tings: I want to help others to be successful (the business consulting stuff), I want to get creative challenges (the contract stuff), and finally - I really do need more social interactions that what I get in my normal FIRE life. Single and FIRE can get ... isolated, especially in pandemic times.
We'll see how long i keep it up until I take up golf and move to Spain like people in my situation seems to do otherwise...
Post by: Alternatepriorities on December 14, 2022, 10:23:33 AM
Hello Class of 2020, how are tings going? Are you still FIREd? Satisfied?
Things are mostly going well. I'm still FIREd and DW continues to find meaning in here work. I've "relapse" a little by taking on some work for my sister in law that in theory will be well paid eventually... I only took it on because it's a fun design project and a good way to connect with her.
My father passed away a month and a half ago and while it was still hard, I must say that having time and money to deal with it made things much easier than they could have been.
Still working on figuring out what makes for satisfying use of my time while DW is working. I felt like i had made some decent progress prior to starting the short term project. It has been hard to go back to sitting at the computer even with interesting work.
Post by: tawyer on December 14, 2022, 01:42:41 PM
Post by: SugarMountain on December 15, 2022, 08:04:44 AM
Hello Class of 2020, how are tings going? Are you still FIREd? Satisfied?
Still FIREd. We did the opposite of most retirees and have upsized to a bigger house. There were a number of reasons for doing this. Love the new place, but it has moved a number of fixed costs higher. I'm kind of dreading doing my year end numbers a bit, but I'm sure we're still significantly below 4%. One of the interesting things that has happened since I left the workforce is I've gotten sucked into spending more because it's no longer, "if I buy that it will delay retirement by X days/weeks/months" it's now "well, I guess when if we make it to 95 we might have less money to spend." I'm finding taking money from my future self is easier than taking time was. The other thing is I spend way less time updating and tracking all of our assets and spending. Part of it is I'm not sitting at a computer 8+ hours per day.
I still don't really know what I'm going to do when I grow up, but I know I haven't missed work a single day in the 2+ years since I left.
Post by: Alternatepriorities on December 15, 2022, 12:11:08 PM
The other thing is I spend way less time updating and tracking all of our assets and spending. Part of it is I'm not sitting at a computer 8+ hours per day.
I've found this to be very true for me as well.
Post by: Linea_Norway on December 17, 2022, 06:54:39 AM
The other thing is I spend way less time updating and tracking all of our assets and spending. Part of it is I'm not sitting at a computer 8+ hours per day.
I've found this to be very true for me as well.
True for me as well.
Only, yesterday I did spent 10 minutes checking my pre-tax form that was automatically generated. I could reduce the amount of tax to pay by 50%, just by checking and correcting the form.
Post by: Linea_Norway on December 17, 2022, 07:44:14 AM
It is indeed very good to have the time to prioritize important things. We lost FIL in September and were able to drive to his country and stay there for almost 2 weeks. We could help him and his partner with the household and the terminal care, as well as organizing the cremation.
I am pretty sure I could do a lot more per day if I got up early, something I do regularly in summer with early daylight. But I love being able to sleep and wake up naturally and take it a bit easy on a day. And then you usually don't do as much as you did on a normal 8 hour working day, followed by home work.
Post by: lemanfan on December 17, 2022, 08:11:38 AM
It is indeed very good to have the time to prioritize important things.
I was very nice not to be working during the pandemic. I have two friends stuck in their homes for medical reasons who needed real help with some contactless shopping and deliveries they couldn't do by paid services, and with my free time I could help them.
Post by: Dicey on December 18, 2022, 12:01:05 PM
Ooh, almost missed this. My condolences on your father's death. Having time and money does make hard things easier.Hello Class of 2020, how are tings going? Are you still FIREd? Satisfied?
Things are mostly going well. I'm still FIREd and DW continues to find meaning in here work. I've "relapse" a little by taking on some work for my sister in law that in theory will be well paid eventually... I only took it on because it's a fun design project and a good way to connect with her.
My father passed away a month and a half ago and while it was still hard, I must say that having time and money to deal with it made things much easier than they could have been.
Still working on figuring out what makes for satisfying use of my time while DW is working. I felt like i had made some decent progress prior to starting the short term project. It has been hard to go back to sitting at the computer even with interesting work.
Post by: Alternatepriorities on December 18, 2022, 07:21:47 PM
Ooh, almost missed this. My condolences on your father's death. Having time and money does make hard things easier.
Thanks you!
He taught the value of frugality when I was little, we were poor, but we were also free. Years later when I learned investing is how people become rich, rather than something rich people do, I taught him. The combination is how a man who lived well on 20k/year leaves his children a wealth of knowledge and more money than anyone would expect.
How does one live well on 20k a year in one of the more expensive states?
His home was simple and self built with much of is salvaged during his years work construction.
Most of his heat and all of his hot water came from his woodstove.
75% of his vegetable came from his garden and green house.
Most of his meat and all of his fish came from the Alaska wilderness.
I will likely carry on his efficient building legacy, but I wish I written down his gardening secrets. Mostly to preserve the knowledge for others trying grow things on the edge of the arctic as I'll probably never be a great gardener myself. I like to travel too often...
Post by: LightTripper on December 19, 2022, 04:25:11 PM
I'm very sorry for your loss.
Post by: rab-bit on December 20, 2022, 10:29:38 AM
These jobs, plus rental income, more than cover our expenses, and we still have an extra 1-2 days per week free in addition to the weekends. We'll probably do this for another 1-2 years and then stop working entirely.
Post by: achvfi on December 21, 2022, 08:13:54 AM
DW and I relapsed from FIRE a bit. I was doing some freelance work, but I cut back on that a few months ago when I accepted a part-time (3 days per week) research position at a top university that was too good to pass up. DW also took a three-day-per-week part-time job at a small company nearby.That sounds great!
These jobs, plus rental income, more than cover our expenses, and we still have an extra 1-2 days per week free in addition to the weekends. We'll probably do this for another 1-2 years and then stop working entirely.