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General Discussion => Welcome and General Discussion => Topic started by: FancyNest on April 16, 2015, 11:52:00 AM

Title: 2020 FIRE Cohort
Post by: FancyNest on April 16, 2015, 11:52:00 AM
Other years have FIRE cohorts, but no 2020 yet, so I'm starting the 2020 group thread here. 

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?
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on April 16, 2015, 11:56:00 AM
I don't quite think I can call myself part of this cohort though I want to be. I would say that 2020 is a stretch goal and somewhere between 2023-2025 is very doable.

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.
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on April 16, 2015, 01:05:06 PM
I've only been here a couple of months. I have an estimated FIRE date of 4/1/2020. But it's hard from certain. I still need to do a better job of calculating what my health insurance and home maintenance costs are going to be. I'll probably put up a case study after I get another month of expenses recorded.

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.
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on April 16, 2015, 01:59:37 PM
@ TheContinentalOp: I looked at some estimates for coverage through ACA and used my anticipated retirement investment income to determine any subsidy qualification. I expect you could do the same to get a reasonable idea of what healthcare costs will be. Estimating housing is harder for me since we currently are renting but considering buying.

How do your pre-FIRE and post-FIRE spending estimates differ? Do you expect to be spending less in retirement?
Title: Re: 2020 FIRE Cohort
Post by: spud1987 on April 16, 2015, 04:39:00 PM
My planned date is May 1, 2020 (as soon as I'm vesting in my defined benefit plan and my annual bonus clears).

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.
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on April 16, 2015, 07:58:35 PM
@ysette9 - Right now through my employer I am paying about $50/mo for health insurance. I did fool around on HealthCare.gov and found a bronze plan for $289/mo. I plan on manipulating my income to take close to the maximum ACA subsidies. But this is still 5 years away and I will probably be in a different state. I am counting on spending a max of $3,000/yr more and then hope to be pleasa

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.
Title: Re: 2020 FIRE Cohort
Post by: FancyNest on April 17, 2015, 08:05:13 AM
@ysette9 - I used a monte carlo tool with my scenario, and the associated sensitivity analysis tool for controlling for variations in inflation, return on invested assets and spending fluctuations over time.  There's a bunch out there and I don't have a true favorite, but I do gravitate back to flexibleretirementplanner.com (this would be shameless plugging of a commercial product, except it's free to use).

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!
Title: Re: 2020 FIRE Cohort
Post by: dude on April 17, 2015, 08:18:07 AM
Yes!  2020.  January 3, 2020, to be exact! I'm retirement eligible on May 7, 2019, but I will be just shy of my 54th birthday at that point.  If I coast along after my eligibility (being FI at that point) for an additional 8 months, then I can retire on Jan. 3, 2020, in the year of my 55th birthday thus giving me penalty-free access to my TSP.  If for some reason the shit hits the fan, then I can stick around for up to two more years (mandatory retirement at 57), but I don't anticipate that happening.
Title: Re: 2020 FIRE Cohort
Post by: velocistar237 on April 17, 2015, 09:48:12 AM
I'll go ahead and sign up here. My plan is to have my invested assets cover my non-mortgage expenses at a withdrawal rate somewhere between 3 to 5%, plus another chunk of invested assets to cover my remaining mortgage.
Title: Re: 2020 FIRE Cohort
Post by: RunningWithScissors on April 17, 2015, 10:08:38 AM
I'm planning to FIRE in 2020 too.  I've run my numbers through a multitude of retirement planning spreadsheets (my favorite is from Financial Mentor - the Ultimate Retirement Calculator) and no matter how pessimistic I am with inflation or low rates on investments, it looks good.

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....!
Title: Re: 2020 FIRE Cohort
Post by: pachnik on April 17, 2015, 07:36:29 PM
I'm throwing my hat in with you guys for 2020 as my FI date.  If I keep saving at the rate I have been doing for the last 2 years, I will be good.  I'll be 56 years old.  My work life has an end in sight now. 
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on April 17, 2015, 07:52:00 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?
Title: Re: 2020 FIRE Cohort
Post by: Suncoast on April 18, 2015, 04:53:46 AM
2020....That is my vision!  Actually, I had been planning on May 2021 but have decided to go at it a bit more aggressively to make it happen in 2020.  I will turn 49 in September of 2020, so maybe that is a good target date.
Title: Re: 2020 FIRE Cohort
Post by: ascZend on April 19, 2015, 05:11:39 PM
Shooting for June 1, 2020 here.  I will be 32 years old.
Title: Re: 2020 FIRE Cohort
Post by: FancyNest on April 20, 2015, 11:56:23 AM
Wow! @ascZend Sounds like we have a newest FIRE contender - 32 is almost as quick as the man himself.  Nice going!  Care to share what kind of lifestyle and/or earnings strategies have helped you?  Maybe you are naturally frugal or just found MMM earlier in life?

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.
Title: Re: 2020 FIRE Cohort
Post by: enigmaT120 on April 20, 2015, 01:03:37 PM
I can retire (and get my pension) at 56, which will happen in 2020.  If congress yanks the Social Security Supplement out from under my feet it would be harder, but probably still possible.  That's about the time I'll be ready to start some commercial thinning on my forest land.

Title: Re: 2020 FIRE Cohort
Post by: grsing on April 20, 2015, 03:01:17 PM
I'll jump in. I'm hoping to FI by 2020, may not be 100% RE, but will hopefully be working much much less by then!
Title: Re: 2020 FIRE Cohort
Post by: Hopeful on April 20, 2015, 03:23:50 PM
Jumping in with a 2020 target and to follow this post.
Title: Re: 2020 FIRE Cohort
Post by: FIPurpose on April 20, 2015, 04:24:25 PM
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.
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on April 21, 2015, 07:16:10 AM
OK, I did some re-evaluation and I am NOT biking 500 miles on the Trans-Labrador Highway all the way to Goose Bay.

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.
Title: Re: 2020 FIRE Cohort
Post by: lise on April 21, 2015, 09:01:53 AM
December 2019 is my aim if not earlier ... close enough to 2020!
Title: Re: 2020 FIRE Cohort
Post by: SCUBAstache on April 25, 2015, 09:45:22 AM
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!
Title: Re: 2020 FIRE Cohort
Post by: Able was I ERE on April 25, 2015, 11:48:16 PM
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.
Title: Re: 2020 FIRE Cohort
Post by: sidestache on April 27, 2015, 04:37:19 AM
I'm in as well....cool to see this group!!! 2020 is the date for myself and my amazing GF to quit and hit the road. Staying on track has been easy so far, but I suspect the next couple years will be the toughest.

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 :)
Title: Re: 2020 FIRE Cohort
Post by: bo_knows on April 27, 2015, 05:40:33 AM
I've always done my projections to aim for somewhere between 2020-2025 (I'd be 39-44), so I can sign up here.  I know that I'm personally going through a rough transition here financially... we're moving from a small townhome to a single family home, in a high cost of living area.  It *might* impact savings for the first couple years in the new house, but we'll see.  I consider it to be ok, because even with the impacted savings, the worst case scenario has us retiring by 45, so I'm alright with that.   Hopefully we see it a little better than worst-case :)
Title: Re: 2020 FIRE Cohort
Post by: clarkfan1979 on April 27, 2015, 06:42:06 AM
We have a travel goal starting in 2020. We hope to have enough money to travel abroad for 3 months during the summer.
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.


 
Title: Re: 2020 FIRE Cohort
Post by: CoderNate on April 27, 2015, 09:59:04 PM
My wife and I have always been savers, but are pretty new to the idea of FI. We recently had "the talk", and decided that FI/RE was something that we mutually wanted to pursue. As frugal as we were before, reading MMM and ERE really opened our eyes to how powerful small but wasteful habits can be over a long period of time. We also opted out of purchasing a new car and decided to stick with our '98 Corolla for the time being. I have also started walking ~5 miles to work some days, and plan to start biking now that the weather is getting warmer (will try to convince the wife to start biking too, but we would have to figure out the daycare situation!).

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 :)
Title: Re: 2020 FIRE Cohort
Post by: thriftycanuck on May 05, 2015, 09:06:15 AM
A 2020 contender myself as I will be 46 by then.  My goal is to have 1MM in invested assets plus a paid off house. However, I might wind down and switch to part time work before 2020 either by choice, or triggered by a layoff that I suspect may happen in the next couple of weeks..
Title: Re: 2020 FIRE Cohort
Post by: Prairie Gal on May 05, 2015, 08:21:55 PM
I'm aiming for 2020 to quit my full time job. I may still work part time, or work at my side job, but hopefully will be able to work on my own terms by then. As little or as much as I wish.
Title: Re: 2020 FIRE Cohort
Post by: blackswan on May 21, 2015, 05:49:34 AM
My goal is to be FI by 2020. My plan is to RE by 2022. The incremental two years should dramatically reduce or eliminate any concerns about the Stash and I'd still be a free man before the kids are done with primary school. Would be blessed to spend the last 6-8yrs we'll have them home being completely free from outside work obligations. Will take focus and hard work, but the thought of all the memories we could create in that time is priceless. Good luck everyone!
Title: Re: 2020 FIRE Cohort
Post by: tyd450 on May 21, 2015, 09:19:11 AM
I am thinking 2024 is a more realistic goal for us but I really want to challenge that and shoot for 2020 for at least "Borderline FI."  We are both 30 and we have our first kid on the way in August.

As of right now our net worth is at $525k. $365k of that is investments... just under $20k cash and about 140k home equity.

I am going to play it by ear for the next few years and see how children effect the lifestyle and budget.  I think for now the plan is for my wife to go back to work after our first and we will pay for daycare but after #2 we would be losing money as daycare costs would be greater than my wife's salary.  With one in daycare we can at least max out her retirement for the year and have a few hundred $ extra.

We live in the Chicago area and our plan is to cash in on our home equity, move downstate, pay cash for a house, and enjoy the overall lower COL and be closer to family. 

I could see me having a bad case of the OMY syndrome.  It would be awesome to work another year or so and maybe put that all towards the kids college funds and possibly a modest little vacation condo or house in AZ, FL or somewhere else on the Gulf.  We love our central IL hometown but I could totally see us wanting to get out during the bitter cold winter months.  And with no jobs to tie us down, we could do that! 

We will see how it goes!
Title: Re: 2020 FIRE Cohort
Post by: Nancy on May 21, 2015, 09:37:18 AM
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!
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
Post by: TaxChick on June 14, 2015, 05:19:14 PM
I am in.  Shooting for FI as of December 31, 2020. 
Title: Re: 2020 FIRE Cohort
Post by: madamwitty on June 14, 2015, 06:49:22 PM
I'm most likely to hit FI in 2020, and happy to join in! I'm dreaming of RE that year as well, but I'm not sure if I'll have the wherewithal to quit my job. My job is pretty awesome, and only half time. We'll see whether it wears on me after 5 more years. I'll be 38, and DH, 37. The kids will be starting grades 6/3/K that year, so it would pretty much be the ideal time to uproot and move to Seattle to be near extended family.

I'm already having a pang of anticipated nostalgia for this, the day I joined the MMM FIRE Cohort of 2020.
Title: Re: 2020 FIRE Cohort
Post by: MrsStubble on June 16, 2015, 03:06:42 PM
We are targeting 2020 too.  We'll both be 41.   Based on the calculations it should give us enough for 30k a year which is actually way more then we need (like 10k a year more then we need) but gives us a buffer to start our own company and get it on its feet which we are hoping to do.   I cannot wait and am looking for a new job now to try to increase the income and get there faster.  Come on 2020!!!! 
Title: Re: 2020 FIRE Cohort
Post by: DTaggart on June 16, 2015, 05:34:50 PM
Hello my fellow Mustachians! I'm aiming for sometime in 2020 too. We may get there sooner if hubby achieves some gainful employment and can help contribute to the stache, but even without that we should be able to cover our expenses by 2020. I'll be 42, hubby 52. Our plans are to spend some time fixing up the house, then rent it out for a few years while we do some long distance backpacking and/or get a camper and do some travelling. Ideally, the rental income will offset a significant portion of our day to day expenses while we're vagabonds so the stache will get a few extra years growth. Then we'll be even more solid by the time we settle back down. I'll also have a small government retirement I can start collecting as early as age 50 if we need it (I'll get more the longer I wait).

All assuming I manage to stomach another 4-5 years at my current job :)
Title: Re: 2020 FIRE Cohort
Post by: jbfishing on June 16, 2015, 06:33:19 PM
I'm shooting for 2020 too, it might be close though and rollover to 2021.  We should be FI in 2020 but the biggest challenge is getting DW on board with ER.  She thinks I'm nuts and we won't really be FI, so that if I RE and she continues working then she is really just supporting me.  I'm not worried, I have 5 years to convince her!
Title: Re: 2020 FIRE Cohort
Post by: aspiretoretire on June 16, 2015, 07:02:27 PM
2020 probably too early for me, but we'll see depending on variables and the more I learn on MMM, but adding on to follow everyone. good luck!
Title: Re: 2020 FIRE Cohort
Post by: Chesterfield on June 16, 2015, 08:58:19 PM
I will join here too, although I am lucky and partially Retired as I work only about 10 hours a week. I need to work that much to keep my license. In 4 years I am eligible for a reduced pension of $580 a month from a state I used to live in, and my net worth is approx 320K. My wife is just starting her career ( doctors train forever) so unlikely she wants to ER.

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.
Title: Re: 2020 FIRE Cohort
Post by: Nancy on June 17, 2015, 04:44:45 AM
Chesterfield, sounds like a great plan! Is your wife a mid-career doctor? I'm always interested in people who go back to school for something completely different later in life. Not trying to pry so feel free to disregard. Arebelspy is also hiking the Camino. Taking  weeks per year to travel sounds excellent!
Title: Re: 2020 FIRE Cohort
Post by: chubbybunny on June 17, 2015, 01:44:04 PM
Hello all.  My handy dandy spreadsheet has this date for FIRE:  1/6/2020


Title: Re: 2020 FIRE Cohort
Post by: Elderwood17 on June 17, 2015, 02:16:04 PM
Count me in on 2020.  Met with our retirement dude at work and he was running numbers on how much I will have at the end of the road and I interrupted and said the road ends In 2020.  He did the math and told me I wouldn't be able to replace 80% of my income that soon, and after hearing the argument I don't need to replace income I need to match expenses it started to dawn on him.

So barring any horrific market changes or health issues, I look forward to being in the class of 2020!
Title: Re: 2020 FIRE Cohort
Post by: Chesterfield on June 17, 2015, 04:23:48 PM
Nancy- my wife is an early career doctor but 9 years younger than I am. She did 4 yrs med school, 4 years residency, 1 yr research fellowship, 3 years ID fellowship and this year she has "bridge funding" and is an "acting instructor" with a salary of 79K but she gets matching 7.5% retirement! Next year she will be a real attending. She started her doctor path in her late 20's. It just takes so long!at least only the first 4 years were unpaid.
Title: Re: 2020 FIRE Cohort
Post by: desk_jockey on June 18, 2015, 08:55:47 PM
Count me for 2020. As long as the market doesn't shit the bed around that time then I should be FI.  It will just be a question of OMY to improve my (S)WR a bit more below 4%.
Title: Re: 2020 FIRE Cohort
Post by: spud1987 on June 19, 2015, 11:39:41 AM
Just an update: I'm still a member of this club. My layoff fears proved to be unfounded so I'll be gainfully employed for the near future. My wife is also interviewing for a new position that would earn more money.

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.
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on July 02, 2015, 12:03:07 PM
1000 work days to FIRE (not accounting for snow days)
Title: Re: 2020 FIRE Cohort
Post by: Heather in Ottawa on July 02, 2015, 12:46:03 PM
1000 work days, I like the sound of that. :)

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.
Title: Re: 2020 FIRE Cohort
Post by: tonysemail on July 02, 2015, 12:59:58 PM
I'll be following with great interest.

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.

Title: Re: 2020 FIRE Cohort
Post by: FIRE Artist on July 02, 2015, 02:04:00 PM
I just ran some rough numbers and it looks like I will be FIREable from the end of 2020 onward so I am jumping on this bandwagon.

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. 
Title: Re: 2020 FIRE Cohort
Post by: Fastfwd on July 03, 2015, 05:43:03 AM
I will jump in as an optimist. If the market does exactly the average and the paycheck is steady 2020 is a good number for being mostly retired with maybe a small contract here and there to pay for a single expensive vacation while my stash keep snowballing.

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  :)
Title: Re: 2020 FIRE Cohort
Post by: DecD on July 03, 2015, 07:08:09 AM
This is a realistic goal for us.  I have ambitious hopes that we'll be done a couple of years earlier, but given that we want to help the kids with college and could make a couple of other spendy decisions (staying in our current large house in a high-tax, high-insurance area, for example), 2020 is a reasonable target.  Consider me on the wagon!
Title: Re: 2020 FIRE Cohort
Post by: Caoineag on July 03, 2015, 07:28:55 AM
Joining the group as we will be FI by then. I will be 39 and DH will be 37.
Title: Re: 2020 FIRE Cohort
Post by: chevelle57 on July 04, 2015, 06:31:51 PM
I'll throw my hat in the 2020 ring.  We should be able to either RE or at least have me cut back from the 250-300 travel days I have right now to 100-150.  We'll see what happens we have a lot of irons in the fire and some might end up paying off big and let us relax before then.
Title: Re: 2020 FIRE Cohort
Post by: fishnfool on July 04, 2015, 09:52:43 PM
It's looking like the spring of 2020 will be my time to finally pull the plug. I was shooting for 2018 but a new 4 year contract with most of the money in the final year will keep me hanging a little longer.
Title: Re: 2020 FIRE Cohort
Post by: BBarton on July 06, 2015, 03:23:16 PM
So this is my first post on these boards and I just wanted to say hi. It looks like I will FIRE around 2020 at the age of 40. I should have about $1M with my current 65% savings rate. I have about $530K now.

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.
Title: Re: 2020 FIRE Cohort
Post by: Lucky Girl on July 07, 2015, 08:04:30 AM
My calculations put me at my target somewhere between April 2019 and April 2020.  So I'll join this crowd!  DH will continue to work and is not yet on the RE bandwagon, so I could technically quit tomorrow, but I'd rather get us enough of a safety net that he starts to see it is possible.

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.
Title: Re: 2020 FIRE Cohort
Post by: dude on July 07, 2015, 08:12:31 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.
Title: Re: 2020 FIRE Cohort
Post by: Nancy on July 07, 2015, 08:37:12 AM
Welcome to the forums, BBarton!
Title: Re: 2020 FIRE Cohort
Post by: prudence on July 07, 2015, 09:57:51 AM
The optimistic plan is 2020 for me. Hoping to make it a reality by increasing savings rate over the next couple years.
Title: Re: 2020 FIRE Cohort
Post by: Gretamom on July 08, 2015, 09:26:38 PM
I played around with the numbers yesterday & my husband and I decided that we can be FI in 2020 although I don't think we will RE due to the fact that we have pretty sweet jobs, but working less & extended vacations are definitely going to happen since we are both self employed! We will be 44. Our children will be 18, 14, and 13. Exact FI date will be 8/01/2020.

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.
Title: Re: 2020 FIRE Cohort
Post by: SwordGuy on July 08, 2015, 10:13:59 PM
We're definitely planning to be FI by the end of 2020.   We both got started late and didn't learn MMM habits until it was too late for us to retire early.   But we'll retire "well".

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. 

Title: Re: 2020 FIRE Cohort
Post by: MsSindy on July 09, 2015, 08:34:10 AM
April 2020...right after bonus time!

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.
Title: Re: 2020 FIRE Cohort
Post by: FancyNest on August 11, 2015, 10:14:41 AM
I admit that I visit this thread for inspiration as well as the enjoyable accountability of making my family's plans public. 

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.
Title: Re: 2020 FIRE Cohort
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!!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Nancy on August 11, 2015, 02:41:39 PM
Congrats to you both on your shortened RE timelines and excellent spouses!

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.
Title: Re: 2020 FIRE Cohort
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).

Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.......
Title: Re: 2020 FIRE Cohort
Post by: SwordGuy on August 14, 2015, 09:03:13 PM
2018 would be a stretch goal for me.  2019 is very doable.  I may go until 2020 just to earn the extra money to spend 2 years in London at http://www.psta.org.uk/ (http://www.psta.org.uk/) The Prince of Wales' School of Traditional Arts (if it looks feasible I could get in).
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on August 15, 2015, 06:50:20 AM
I'll join the 2020 group as well, as a sort of general target...  That'll put us both mid-40's here. 

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.
Title: Re: 2020 FIRE Cohort
Post by: tarantoga on August 15, 2015, 06:28:01 PM
I am planning for mid 2019 to early 2020.

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!
Title: Re: 2020 FIRE Cohort
Post by: steveo on August 15, 2015, 10:45:20 PM
Count me in as well. I think that would be about the right time for me to be FI and possibly quit. If I don't quit I should be working part time.
Title: Re: 2020 FIRE Cohort
Post by: zephyr911 on August 16, 2015, 08:32:03 PM
I'll chime in and follow this for general tracking purposes. My current info:

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.
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
Post by: Freedomin5 on October 31, 2015, 12:23:21 AM
I'm a little late to the game, but would like to throw my hat in the ring as well for accountability. Will likely not RE, since DH and I both enjoy our work, but would like to be FI. I chose 2020 because it's challenging but doable, and because it's an easy number to remember.
Title: Re: 2020 FIRE Cohort
Post by: Heather in Ottawa on October 31, 2015, 06:20:54 AM
I added up our "if we quit today" pension amounts... And we've got our retirement covered. :D now we need to cover our living expenses for the next 25 years until we can collect. That means our pension income will continue to grow for the next 4-5 years as we contribute, meaning it will far exceed our needs, but I guess there are worse 'problems' to have.
Title: Re: 2020 FIRE Cohort
Post by: meadow lark on October 31, 2015, 10:09:13 AM
I am claiming this cohort for my own!  Planning on hitting FI between 2018 and 2019, actually, but my best guess for RE-ing is 2020. 
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.
Title: Re: 2020 FIRE Cohort
Post by: MrMoogle on November 09, 2015, 09:31:06 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.
Title: Re: 2020 FIRE Cohort
Post by: FireLane on November 10, 2015, 07:29:45 PM
Count me in! I'll turn 38 that year and will be hoping to go out with a 'stash of between $1.25M and $1.5M, depending on how the market does.

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. :)
Title: Re: 2020 FIRE Cohort
Post by: Faraday on November 10, 2015, 07:45:28 PM
I'm In! I like how TCop phrases his:

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.
Title: Re: 2020 FIRE Cohort
Post by: roadtrippers on November 11, 2015, 01:51:09 PM
2020 for me, maybe 2019 for DH. We are old compared to many on these forums:  50 and 51. Small teacher pensions kick in at 55, and we have been saving aggressively to make up the difference/have travel money, etc. Planning to do some kind of work, but not the intensity of urban high school teaching. Looking forward to charting our progress on the forums!
Title: Re: 2020 FIRE Cohort
Post by: flan on November 16, 2015, 09:52:22 AM
Current predictions by the networthify calculator puts us at FIRE in 2022, but I titled a whole journey on the fact that we're stretching for 2020!

Situation: DINK
NW: ~200K NW
2020 FIRE goal: ~900K

Love having camaraderie!
Title: Re: 2020 FIRE Cohort
Post by: meadow lark on November 16, 2015, 07:33:28 PM
Faraday, if you were laid off, could you refi the house?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: HappyMargo on November 18, 2015, 04:26:15 AM
This is very motivating reading others' plans here! It's interesting to see how everyone tweaks the details to fit their own individual goals. This time-frame fits our plans closely, so I'll throw my hat in too.

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!   
Title: Re: 2020 FIRE Cohort
Post by: NorCal on November 18, 2015, 07:43:26 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)
-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.
Title: Re: 2020 FIRE Cohort
Post by: ac on November 18, 2015, 01:59:36 PM
I'm $360k away! 

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.
Title: Re: 2020 FIRE Cohort
Post by: canadian bacon on November 19, 2015, 02:26:58 PM
Currently have 2 girls in preschool/daycare and do not feel comfortable retiring while I have this large expense.  The youngest will be in kindergarten in the fall of 2019.  Planning to retire right after I get back from 2019 Christmas vacation to get my year end bonus and 2019 profit sharing. 

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%)
Title: Re: 2020 FIRE Cohort
Post by: radtek2112 on November 20, 2015, 02:14:08 PM
Wife and I are on track for that year. We'll both be 42.
Title: Re: 2020 FIRE Cohort
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*......
Title: Re: 2020 FIRE Cohort
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.   
Title: Re: 2020 FIRE Cohort
Post by: Melissa on December 03, 2015, 07:33:23 PM
We are s group as well. By 2020 our youngest will have graduated from high school. The mortgage will be paid off by then too (22 years early). And we will have a net worth of 1M, not including the house.vBy all the number on the spreadsheet we will be FI...I will be 45 and my husband will be 50.

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
Title: Re: 2020 FIRE Cohort
Post by: steveo on December 19, 2015, 02:18:07 PM
I think that this is the year that I will retire. I may do part time work post this point but we will wait and see. I'll be 47 at that point. The wife will be 43.
Title: Re: 2020 FIRE Cohort
Post by: HappyMargo on December 19, 2015, 03:01:15 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?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Heather in Ottawa on December 19, 2015, 09:45:21 PM
Saving is a lot of fun, and i think i will miss watching my balances grow. But also, at a certain point, more money that i wont spend will become relatively meaningless. I'm hoping that i will hit that point roughly once i reach my FIRE number, otherwise I definitely see OMY setting in. Still, eventually my time is going to mean more to me than more money, so I have no doubt I'll be saying goodbye to the paycheque sooner than later.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: RedefinedHappiness on December 20, 2015, 11:39:43 AM
2020 is a reasonable target for me as well. At least for FI. Hoping this thread adds some perspective to help determine whether FIRE is in my future.
Title: Re: 2020 FIRE Cohort
Post by: HappyMargo on December 22, 2015, 04:45:13 AM
Thanks for all the replies! 

@ 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!!
  :-)
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
Post by: AnEDO on December 28, 2015, 08:44:31 AM
2020 is our family's year!  We are planning a transition from now to then with 2016 being a full-time work year and then actively exploring opportunities to work 24-32 hrs/week in 2017.  We are going for freedom to do what we want rather than to not work so we plan on always doing some part time work we enjoy.  Our kids are still quite young and so the opportunity to spend more time with them now is very important to us.  The main focus for the next couple of years is the elimination of any kind of debt apart from mortgages on rental properties and reducing taxes as much as possible using 401k's, HSA's, FSA's and 529's. 
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on December 30, 2015, 12:00:02 PM
When I originally posted on this thread I thought that 2020 was a slightly overly-ambitious goal for us. I have been running and re-running the numbers recently and if returns over the next few years are somewhat higher than 0%, I think we should be able to make it pretty easily. Then again, I am REALLY struggling with what our post-retirement expenses will be, primarily because our housing situation is totally up in the air. We live in an expensive area of the country and plan on staying. We rent now and have no plans to buy in the near future though it will probably be something to consider in the long term. Our plan is to do a sabbatical year starting in 2020 as a test run and tweak our plans from there.

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
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on December 30, 2015, 12:11:12 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on January 01, 2016, 09:40:37 AM
I too was surprised by the results. You make a good point about it being a 50/50 portfolio. On that topic, what asset allocation do you expect to have once you FIRE? I haven't looked recently but I think our overall allocation right now is something like 95% stocks, 5% bonds. How about yourselves?
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on January 07, 2016, 02:53:07 PM
I am not sure about 2020 any longer as last year's disappointing stock market returns,

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.
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on January 07, 2016, 07:48:05 PM
Out of curiosity, does anyone care to share their target stash size, projected yearly spending, and asset allocation?
Title: Re: 2020 FIRE Cohort
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%
Title: Re: 2020 FIRE Cohort
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. 

Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: onlykelsey on January 25, 2016, 02:25:42 PM
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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on January 25, 2016, 05:46:52 PM
By 2020 I will only be barebones homeless FI level.

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
Title: Re: 2020 FIRE Cohort
Post by: WerKater on January 26, 2016, 10:28:01 AM
I'm signing up. 2020 is my stretch goal. Aiming for 2020-06-30, just a few days before my 37th birthday.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on January 26, 2016, 10:49:00 PM
12/31/2020 for me to hopefully RE as that is when I'm eligible to take my pension. I'll have just turned 53.  I'm probably FI now, but still trying to launch 2 kids ages 21 and 18, so will try to stick it out the next 4 years, 11 months and 5 days.
Title: Re: 2020 FIRE Cohort
Post by: ToughMother on January 31, 2016, 12:27:03 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!
Title: Re: 2020 FIRE Cohort
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. :)
Title: Re: 2020 FIRE Cohort
Post by: powersuitrecall on March 02, 2016, 11:27:55 AM
Hi all - Count me in.  I'll be hanging up the cubicle pants some time in 2020.

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.
Title: Re: 2020 FIRE Cohort
Post by: Batastrophe on March 20, 2016, 01:16:43 PM
Count me in the 2020 Club. Not specific date, but likely in late-Spring. Me and wife are FI now and continue to contribute to the stash as were targeting a sub-2% withdrawal rate.

Obviously life and the markets can always throw a curve ball, but 2020 is the year for us as of the moment!
Title: Re: 2020 FIRE Cohort
Post by: Life in Balance on March 25, 2016, 01:04:29 PM
Planning FI in 2020, and will decide about RE timeline then, but likely in 2022.  Assuming the stock market is average and the creeks don't rise.  :)
Title: Re: 2020 FIRE Cohort
Post by: RedefinedHappiness on March 26, 2016, 08:15:02 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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...).
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: jan62 on March 26, 2016, 04:34:58 PM
I'm excited to be joining this thread having recently finally set a retirement date of 31st December 2020. I'll be 58, hubby will keep working for a few years after that.

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.


Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on March 28, 2016, 01:31:27 PM
I sometimes feel like I am at the end of a run where I am not quite sprinting, but I have picked up my pace and I am doing everything I can to just stay in that groove with the finish line in sight but still far away. We are on this great trajectory right now but the uncertainties in the math are still enough that 2020 is a fuzzy goal. That said, I try to focus on the upside of stocks being lower now than before (buying more cheaply) and I'll worry about the details of how the numbers look in 2020 much closer to then.
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on April 01, 2016, 03:56:16 PM
Four years out to the day. I re-ran the numbers. I need a 6% real rate of return and I can still hit my target. Alternatively if I have a 4% real rate of return can net U$5000 from writing in 2019 I'll still pull the trigger.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: RedefinedHappiness on April 23, 2016, 07:02:44 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
-
-
-


-
Title: Re: 2020 FIRE Cohort
Post by: beelea on April 25, 2016, 09:14:52 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.

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!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.

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!
  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!

  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
Title: Re: 2020 FIRE Cohort
Post by: Trudie on April 25, 2016, 11:00:40 AM
Ya'll are my peeps.  Aiming for 2020.  I'll be 50, husband will be 59 (certainly not the youngest on the page.)  If we get fed up or have a life-changing watershed moment before that we might go sooner and would need to figure out a SEPP/Roth/unqualified investments strategy.  (Most of our investments are in qualified accounts.)  We're both getting a bit career weary at this point and my husband (who works in higher ed) is likely to see continued freezes and cut-backs in his benefits.  We just keep trying to sink the plow blade deeper and move forward.

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!
Title: Re: 2020 FIRE Cohort
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.

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!
  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!

  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 :)
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: RedefinedHappiness on April 28, 2016, 01:53:55 PM
It does help. Thanks for sharing. I have tried to get back into more hobbies. Focusing on me has helped my attitude at work and with family. After being a workaholic it is a tough adjustment, but I think it is necessary to prepare for a FIRE transition.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: meadow lark on May 01, 2016, 08:03:02 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.

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.
Title: Re: 2020 FIRE Cohort
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.

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.
Meadow that sounds like a great way to ease into it.  Knowing that you can easily jump back into the workforce is really nice.
Title: Re: 2020 FIRE Cohort
Post by: mlbfan07 on May 02, 2016, 07:15:16 PM
Great post! And what better way to join MMM then my first post to be on my FIRE plans!

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!
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on May 11, 2016, 07:21:04 PM
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.
Title: Re: 2020 FIRE 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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: fishnfool on June 02, 2016, 10:53:05 AM
My target retirement date is June 1st 2020, it feels great to be under the 4 year mark!

Good health and happiness to all of you 2020 cohorts!

Aloha
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on June 02, 2016, 12:25:38 PM
I'm at the end of 2020, so it will feel good at the end of this month when I am closer to 4 years than 5
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on June 03, 2016, 09:20:27 AM
Nice, fishnfool, I didn't think about that but a "glass half full" way of viewing my 47 month estimate is now I can say "3 years and 11 months" ... It's the little things I guess :-)

BFGirl - 4.5, then 4 years, those mile markers will be behind you before you know it!
Title: Re: 2020 FIRE Cohort
Post by: Maenad on June 04, 2016, 07:07:53 AM
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!
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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? 
Title: Re: 2020 FIRE Cohort
Post by: deeshen13 on June 05, 2016, 11:02:06 AM
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on July 01, 2016, 10:44:26 AM
Well, June closes out a GREAT month of progress toward FI.
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!
Title: Re: 2020 FIRE Cohort
Post by: Half Stached on July 02, 2016, 11:37:50 AM
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.
Title: Re: 2020 FIRE Cohort
Post by: sidestache on July 04, 2016, 04:13:19 AM
Add me to the list!! 2020 FIRE!!

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! :)
Title: Re: 2020 FIRE Cohort
Post by: HappyMargo on July 09, 2016, 04:10:55 PM
Checking back in one year later for progress report.   

-- 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!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: HappyMargo on July 10, 2016, 06:00:45 AM
Haha!  Markbike,  I like the TM.  Thanks!

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!)
Title: Re: 2020 FIRE Cohort
Post by: Trudie on July 11, 2016, 01:26:03 PM
My DH, now 55, is supremely frustrated with his current job in higher education.  We had sort of thought we'd finish out our careers here, and now that's looking less likely due to some leadership changes and enrollment challenges -- mostly things out of our control.  While I wouldn't call the environment toxic (yet), I do think he's in a difficult position.  So, I've encouraged him to (1) first seek a new position where he's at; and if that doesn't come to fruition (2) we can relocate.

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.
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on July 14, 2016, 07:17:16 AM
Today for the first time ever my NW is 25x my spending for the previous year. (That's 75% of my FIRE goal). Still on track for April 2020.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: FancyNest on July 15, 2016, 02:20:24 PM
Hello - OP here – every one of the posters and lurkers in this thread has taken steps to increase the speed at which you’re traveling to FI/RE/FIRE and it’s been awesome to see the growth of frugality muscles first hand.

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!
Title: Re: 2020 FIRE Cohort
Post by: Trudie on July 15, 2016, 02:34:31 PM
Hey @FancyNest, thanks for the update.  It's uplifting to read about the positive changes you've made in your life.  It's also refreshing to hear you acknowledge that even though you had FU money and could make these decisions from a position of strength that getting laid off was difficult and something you had to process emotionally.  My husband and I would be in a position of strength if something happened to either one of our jobs, and even though we look forward to FIRE we are quite candid that it's much better when you can leave a job on your own terms.  I've been through a couple of lay-offs and know that it can take some time to recover.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on July 31, 2016, 09:22:07 PM
Closed out July, took a small step back driven by our energy holdings, but we hit all our savings goals and did well on spending.
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
Title: Re: 2020 FIRE Cohort
Post by: FrugalFarmer on August 05, 2016, 12:11:19 PM
Assuming I don't become any more badass or receive any raises between now and then, I am on track to be FI by 2020.  I will be 36 years old.  That said, I'm doing everything in my power to reach FI even sooner!  In my case, I consider FI to mean having my food, shelter, and basic necessities covered by passive income.  I plan to continue working after my FI date, so any optional purchases will have to fall within the fully optional income I choose to accept for said work. I will become fully self employed and free to pursue only the work that is interesting to me. Basically, I'm building an infinite stream of "fuck you money"! 
Title: Re: 2020 FIRE Cohort
Post by: dreams_and_discoveries on August 09, 2016, 10:46:02 AM
Some great progress here, although my FIRE date is 2021 currently, I'm love for it to be brought in a bit to 2020.

This could be possible, especially if I do something like TEFL for a year and don't need money to live on....

Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on September 01, 2016, 09:49:24 AM
OK, August is behind us.  It's stretches like this that make me begin to question whether 2Q-2020 will really be possible vs. the original target of 2Q-2021.  We hit our monthly savings goals again, however this was largely offset again by energy holdings (pullback vs. recent peak in July 2016).

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
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on September 01, 2016, 01:08:57 PM
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.

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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on September 01, 2016, 02:37:47 PM
I'm still waiting around to be able to take my pension at the end of 2020.  Four years and four months to go!!

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!
Title: Re: 2020 FIRE Cohort
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.

Title: Re: 2020 FIRE Cohort
Post by: Maurits28 on September 15, 2016, 01:46:09 PM
Our goal is FI on December 31, 2020. I'll be just 39 and DW 36. I say OUR goal as since half a year it became our plan, and we both believe in it. The spreadsheet counter is currently at 24.5% stash-completeness. I estimated a conservative 3.5% return on investments, in this way I mitigate inflation over time. Pension kicks in at 67, moderate income from one property. One small property paid off to live in, but more money will be needed to suit family needs etc.

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..
Title: Re: 2020 FIRE Cohort
Post by: zoomzip on September 16, 2016, 02:33:15 PM
Throwing my hat into the ring here.  Depending on the final dollar amount I settle on for RE, it should be Mid-Late 2020, barring any massive downturns.  My stache is right around 50%,  but I am entering into some pretty big saving/earning years (have a stable house after buying a new home twice in 3 years, promotion at work, dialed in savings etc.), I am currently 37, so while it wouldn't be RE prior to 40, it is just after which is great.

I am pretty impatient at this point - its hard to focus and stay ambitious at work.

Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Livewell on September 23, 2016, 01:12:52 PM
Hi everyone,

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! 

Title: Re: 2020 FIRE Cohort
Post by: DailyGrindFree on September 24, 2016, 01:16:48 PM
Hi everyone, we are Mr. & Mrs. DailyGrindFree (http://www.dailygrindfree.com (http://www.dailygrindfree.com)), I am in my late 40's and she is in her early 40's. We just got started to get serious about early retirement several months ago. We already have some accumulated for our retirement and hoping to retire some time in 2020. I didn't do the specific math and read about portfolio theory until just a few months ago. Since we realized that it was attainable if we lower our expenses and be smart with our money we decided to shoot for 2020. If we need additional income I can always work part time for a few more years. My ultimate goal is to be done with cubicles and 9-5 routine as soon as I can. Then travel and do whatever else tickles our fancy. :-)

Here is where we stand as of today: http://www.dailygrindfree.com/net-worth/ (http://www.dailygrindfree.com/net-worth/) .
Title: Re: 2020 FIRE Cohort
Post by: Livewell on September 30, 2016, 03:24:31 PM
Hi all

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/
Title: Re: 2020 FIRE Cohort
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...
Title: Re: 2020 FIRE Cohort
Post by: FrugalFarmer on October 05, 2016, 08:46:41 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. 
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: robtown on October 07, 2016, 01:18:56 PM
My date is March 2020, moved out from 2019.   My DW retires early 2018 when we are mortgage free.   We should have a comfortable income by 2020.
 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.
Title: Re: 2020 FIRE Cohort
Post by: Exhale on October 07, 2016, 02:28:23 PM
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

Thank you - on my way over to your blog!
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on October 09, 2016, 11:17:05 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
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: onlykelsey on October 12, 2016, 07:15:11 AM
I'll eventually need to come up with a more complex formula, but assuming 50K/year and a 4% withdrawal rate, I am currently 36.8% FI.

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.
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on October 12, 2016, 09:42:16 AM
@FIREby2021 - I like the monthly checks myself... I simply don't have the history to make quarterly or yearly checks worth it, since I only really started tracking diligently this year. I like to see the progress. And it's cool to see other people's progress too!

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!
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: Faraday on October 24, 2016, 10:20:29 PM
Hey all! I'm back after a few months hiatus and I've got some news that could be interesting to some in this thread. My posting from last November, 2015:

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on November 01, 2016, 09:39:37 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
Title: Re: 2020 FIRE Cohort
Post by: 6-Saturdays on November 03, 2016, 12:42:52 PM
With a modest return on investment and our current savings rate DW and I plan to be FI(+) by Valentine’s Day 2020. RE should follow shortly as of March 2nd 2020. I will be 44, DW is a bit younger. We are probably over saving, but “forever” is a long time. Once we both stop working getting back into our careers would be difficult so when we jump it’s for keeps.
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(+)!!!
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on December 01, 2016, 09:41:21 AM
As stated last month, we will be re-evaluating our conservative assumptions with the current plan after EOY.  With that said, by all measures this was a positive month.  Using the original target, our countdown is now at 41 months to-go (end of April 2020). Gains this month were driven by energy holdings (make oil great again??, haha), and my (modest) anticipated EOY bonus hitting the account a couple weeks earlier than expected.  I expect very little progress for December, aside from our normal savings.  IMO, the recent weakness in the Nasdaq needs to sort itself out in order for markets overall to continue making upside moves.

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
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on December 19, 2016, 01:40:47 PM
I'm having a dull day at work today. It's hard to keep myself from dabbling in my FIRE spreadsheets... taking a fiver to post our past couple of months of progress.

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?
Title: Re: 2020 FIRE Cohort
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.   
Title: Re: 2020 FIRE Cohort
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.   
Title: Re: 2020 FIRE Cohort
Post by: ysette9 on December 23, 2016, 08:21:46 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.
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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 :)
Title: Re: 2020 FIRE Cohort
Post by: Half Stached on December 30, 2016, 08:10:48 PM
I just finished my year end budgeting, so it is time for a quarterly update! This is our first full calendar year here, and things are going great:

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on January 02, 2017, 05:40:49 PM
Hey 2020 people!  Putting the wraps on 2016, by most counts it was a good year.  We started in earnest on our FIRE journey in 2015 after years of so-so habits, and shifted our sights to April 2020 as our target to FIRE from the corporate world and move to our "dream" LCOL location.

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
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on January 20, 2017, 10:59:05 AM
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). 

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.
Title: Re: 2020 FIRE Cohort
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). 

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.
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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on February 01, 2017, 11:25:05 AM
January 2017 was a bit rough for us.  Had some significant (expected) medical and property tax expenses, and the energy holdings in my 401k were pretty weak to start the year.  So a muted savings month for January is generally to be expected, but poor market performance didn't offset those factors.

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
Title: Re: 2020 FIRE Cohort
Post by: Roothy on February 03, 2017, 04:44:20 PM
I'm joining.

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. 
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on March 01, 2017, 09:41:58 AM
February 2017 is in the books!  My new "countdown" shows 26 months to go!  It has been particularly difficult at work lately, which makes that seem VERY FAR away!  Despite continued market strength, much of that was offset by poor relative performance in our energy holdings.  Grumble grumble, but we continue to DCA into our long-term strong dividend company at a lower cost basis.  Finished up with those medical expenses (for now), and allocated some capital to fund the side-gig concept.  So, month-on-month, if you squint you can see the progress needle moved a tick upward :-)

EOY 2016:  70.9%
JAN 2017:  70.3%
FEB 2017:  70.4%

FIREby2021
Title: Re: 2020 FIRE Cohort
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 :)
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on March 01, 2017, 05:54:34 PM
I also love seeing another month go into the books, especially when it's one that I come in well under budget.  :-)  January and February I managed to come in at nearly half my budget despite some car repairs and tool purchases I'd not planned on!

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on April 01, 2017, 04:45:31 PM
With March 2017 behind us, that provided me the opportunity to update my whiteboard countdown @ the office to show 25 months left ... who knows?!

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
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on April 02, 2017, 07:31:44 AM
This may be a version of OMY syndrome, but I found out this week that my employer will pay 60% of my health insurance if I stay to the end of 2022 as opposed to 45% if I go at the end of 2020.  But I don't know that the savings of approximately $24,000 (bridges the gap between retirement and Medicare) is worth 2 more years of my life. Of course my pension payout would also increase if I stayed longer. I guess it just depends on a lot of factors at that time, so we shall see. 
Title: Re: 2020 FIRE Cohort
Post by: NorCal on April 02, 2017, 07:56:19 AM
Just re-ran my numbers through the Personal Capital Retirement Planner.  It's my new favorite online retirement planner since it lets me change all the variables in a single spot.

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.
Title: Re: 2020 FIRE Cohort
Post by: Half Stached on April 02, 2017, 11:46:57 AM
Our best quarter yet! Between strong investment returns and a larger than expected bonus, we made a lot of progress in the past three months:

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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: steveo on April 04, 2017, 04:03:38 PM
I'll add my numbers to this thread.

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.
Title: Re: 2020 FIRE Cohort
Post by: albireo13 on April 14, 2017, 08:33:28 PM
Looking towards 2020:
 *  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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on April 29, 2017, 11:30:01 AM
Not much to report, just grinding.  Minor changes reflected in historical numbers related to an accounting error I fixed in my spreadsheet.  Will update my (stretch goal) countdown # on my whiteboard to 24-months on Monday (2 years?!?!).  Feels less likely to meet that stretch target with each passing month.

EOY 2016:   70.6%
JAN 2017:   70.0%
FEB 2017:   70.2%
MAR 2017:  71.2%
APR 2017:   71.9%

FIREby2021
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on May 01, 2017, 10:26:54 AM
We're still plugging away too. Another great month, as my bonus got paid in April. I also was surprised by a very hefty raise that I wasn't planning on, so that made our aggressive goals seem less aggressive. I think 2020 is still on the table, though if 2020 is a year where my company is going to meet bonus, I may stay until April 2021. We'll see once we get there.

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)
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on June 02, 2017, 07:41:41 AM
Tick! Another month ... our stretch goal countdown now shows UNDER 2 years (23-months), is that even possible?!?  I swing back and forth between this feeling like an unattainable time frame, yet I still want to be hopeful ... ehhh, "hope is not a plan", so just going to keep taking it 1 month at a time until we get there.  Even our 'realistic' target of 2Q-2020 would be quite the victory.  A theme as of late, our energy holdings are an anchor to real progress (down 15% YTD), but we continue to DCA.

- 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
Title: Re: 2020 FIRE Cohort
Post by: ixtap on June 15, 2017, 01:13:44 AM
2020 is starting to look good for us. A year and a half ago, we were aiming for my partner's milestone birthday, then we switched to my milestone birthday, which shaved two years off. Our most recent checkup, along with finally defining a number, rather than a year, shaved a couple more years off.

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.
Title: Re: 2020 FIRE Cohort
Post by: dreams_and_discoveries on June 15, 2017, 01:34:24 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on June 16, 2017, 08:26:40 AM
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%.
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: dreams_and_discoveries on June 16, 2017, 02:34:50 PM
Love the plans 2Birds -  a good mixture of family, adventure and locations.

Less than 3 years to go...
Title: Re: 2020 FIRE Cohort
Post by: tawyer on June 25, 2017, 11:55:06 AM
PTF and bookmark all the information here.

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!
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on June 30, 2017, 04:23:09 PM
We are shooting for 2020, it just sounds cool :)

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on July 01, 2017, 02:48:30 PM
Well, slow & steady progress continues, but nothing fancy.  Even though our stretch target timeline now shows 22-months, periods like this remind us that the more realistic goal appears to be early (1Q) 2020.  Despite staying rock-steady with our savings goals, the prior 6 months have yielded 1/2 the rate of progress vs. 2016's uber-bullish result.  It has given us great opportunity to stay focused on the things we do enjoy while working here in our HCOL location, to help avoid being too consumed with a number or a target.  Still, we track, measure & celebrate the progress we have, staying motivated toward our goals!

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
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on July 02, 2017, 05:38:28 AM
Right now, I'm just glad things went so well for us the last couple of years, getting us way ahead of schedule.  My wife's out of work now, my job's iffy, and we're looking to run about 10% over budget this year (and that's if nothing else goes seriously wrong).  Hopefully we can at least break even (job income vs. expenses) and not have to tap into the investments.  Fingers crossed.
Title: Re: 2020 FIRE Cohort
Post by: Half Stached on July 02, 2017, 11:16:13 AM
This past quarter we bought a condo (cash), so our numbers changed a lot. The market here in Seattle is rather crazy, so it cost a bit more than we expected. That being said, we're still on track for 2020, and I'll probably go part time in 2019. Also, it feels good to know that we don't have to worry about large rent increases anymore - those have been a regularity around here.

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.)
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on July 03, 2017, 08:44:53 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 :)
Title: Re: 2020 FIRE Cohort
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! 
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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?
Title: Re: 2020 FIRE Cohort
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...
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: xDavidx on July 18, 2017, 12:07:32 PM
I understand the people who are so close to their target goal but struggling with the grind every day. In December I had enough and left my high paying job and am now working a low paying part time job. It is working for me. I will still reach my target, it might take longer but I am starting to feel healthier already.

The hardest part so far has been to decline all the job recruiter who are calling/emailing all the time.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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.
Title: Re: 2020 FIRE Cohort
Post by: markbike528CBX on July 18, 2017, 07:52:03 PM
".............pivoted vision.

keeping this for buzzword bingo
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on July 20, 2017, 08:17:22 AM
".............pivoted vision.

keeping this for buzzword bingo

Ha, I had to look that up.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on August 01, 2017, 08:47:09 AM
Another (hot, humid, long, busy) month in the books, with continued slow & steady progress.  Stretch target timeline now sits @ 21-months, with the "more realistic" goal @ 30-months.  These are both sweet-spots that seek to optimize / balance for reaching savings goals, receiving expected bonus payments, and managing 1st year FIRE tax implications.  For those that don't want to add, that puts the stretch target @ May-2019, with the "more realistic" target @ Feb-2020.  There's a smidge of 'OMY' built-in between those 2 dates, but we would stand to capture 12 months of 'value' in exchange for 9 months of 'time'.  I reckon we'll know a lot more about which date appears to be most realistic by this time next year.

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
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Gumption on August 08, 2017, 03:43:35 PM
The closer I get, the more stressful it seems.

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?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on August 08, 2017, 06:18:19 PM
This month I will be getting a healthy commission check.....barring any crazy market fluctuations......we will be at,

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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on August 09, 2017, 07:36:38 AM
I'm probably at 19-20x expected expenses and working for a pension to make up the difference. If I can make it until the end of 2020, then I can take the pension at 53.  If I quit before, then I get it at 60. 

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.
Title: Re: 2020 FIRE Cohort
Post by: FIRE 20/20 on August 27, 2017, 09:34:51 AM
I think I'm going to be moving in into the 2019 Fire Cohort.  We are tracking our expenses for the first time, and they're lower than expected.  I'm feeling pretty good about pulling the date into 2019.  Even 2018 looks reasonable if we were willing to go as high as a 4% WD rate, but we're aiming for 3.5%. 
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: dreams_and_discoveries on September 05, 2017, 03:32:49 AM
Great progress everyone.

I'm working towards the end of 2020, which gives me 1200 to go today. :)
Title: Re: 2020 FIRE Cohort
Post by: Pennycounter on September 05, 2017, 02:53:42 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 and March April 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!
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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 and March April 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!
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on September 10, 2017, 05:58:49 PM
I feel like I am late to the game!  So many of you knew a date back in 2015 :).

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

Title: Re: 2020 FIRE Cohort
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.


Out of curiousity, 2020ers, what % of your FI number are you at right now?
About 63%
Title: Re: 2020 FIRE Cohort
Post by: WonderfulLife43 on September 27, 2017, 06:29:34 PM
Following, and joining the Cohort.

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!
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on September 29, 2017, 05:21:47 AM
Woohoo Wonderfullife43. I'm glad you checked things out and got yourself on track!
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on September 29, 2017, 09:36:38 AM
I've decided to join you all!

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!
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on September 30, 2017, 08:36:24 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

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)
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on September 30, 2017, 09:04:46 AM
Love the cat pic! Keep it up! :)
Title: Re: 2020 FIRE Cohort
Post by: Half Stached on September 30, 2017, 01:28:41 PM
The quarter is up! Time to see how things are going...

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on October 01, 2017, 12:50:42 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
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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.
Title: Re: 2020 FIRE Cohort
Post by: RedefinedHappiness on October 16, 2017, 11:50:39 AM
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: ixtap on October 16, 2017, 05:31:09 PM
The math says 2020 is still doable; the SO says 2021 is more likely.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on October 16, 2017, 05:57:25 PM
I`m looking at a 4Plex rental that'll allow me to skip the part-time (or I guess landlording will be my part-time) for 2020.

I might not have to do ALL 40Hrs a month I was planning!
Title: Re: 2020 FIRE Cohort
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...
Title: Re: 2020 FIRE Cohort
Post by: FireLane on October 16, 2017, 07:53:53 PM
This bull market is definitely accelerating my FIRE timeline. Right now I'm at the NW number my original plan said I would hit in late 2018. If this keeps up, I'll reach my target number well before 2020.

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.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on October 20, 2017, 05:05:00 PM
The markets have been awesome and the investment are growing on all fronts.  Love the cat pic!  To freedom!!

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!

Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on October 22, 2017, 01:08:19 PM
ixtap, I love the alternates people have found!  Living on a boat would be interesting.  I hope to get to the point where I can fix all the van issues that occur.  Paying someone else to do it always makes me a little sad.  Right now we are so busy with work and other things that spending time fixing the vehicles mostly doesn't happen.

LV
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on November 01, 2017, 12:49:47 PM
Summer is OVER! -> Oct-2017 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on November 01, 2017, 01:17:10 PM
I should rather be joining this thread than the 2019 that I optimistically join earlier. I realized some time ago that I am not going to FIRE earlier than december 2019 and probably not even that. I expect it to really hapoen somewhere in 2020. And maybe first by working part time for some time.

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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on November 16, 2017, 04:36:15 PM
Our joker card is downsizing the clown house.

What is a clown house?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on November 22, 2017, 09:39:34 AM
1135 days and counting down...
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on November 22, 2017, 07:20:21 PM
859........can't come soon enough ;)
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on November 23, 2017, 07:32:10 AM
859........can't come soon enough ;)

I am 850, we are close :)
Title: Re: 2020 FIRE Cohort
Post by: Able was I ERE on November 23, 2017, 08:59:42 AM
It's fewer days if you only count the ones you're working.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on November 23, 2017, 01:59:42 PM
Keep that for the final year. this way it seems to go down really quick. <1000 days.
Title: Re: 2020 FIRE Cohort
Post by: FIRE Artist on November 27, 2017, 12:14:42 PM
Assuming 7% returns, I should hit my FIRE target in October 2020.  I will likely work out to the end of the calendar year to start my first year of FIRE in a low tax bracket because I intend to cash out my defined pension. and if I do so, I likely will have to take some of it as taxable income due to not having any sheltered savings room to dump it into. 

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on December 01, 2017, 02:18:08 PM
Nov-2017 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on December 02, 2017, 01:20:38 AM
Since yesterday afternoon I am seriously confused. This is due to my lack of using Excel and not being an accountant.

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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on December 02, 2017, 02:04:32 AM
See my previous post where I no longer had a clue what my FIRE number was...

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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on December 02, 2017, 10:38:26 AM
Our NW cracked $425k yesterday, which is almost 9X our current annual expenses. I feel like we have a lot of ground to make up if we are to pull the plug in exactly 28 months.

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.

Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on December 02, 2017, 03:20:10 PM
Market up a lot, so it is was a good month. Still shooting for the same target date though, there are many considerations besides finance. Happy December!
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on December 11, 2017, 12:46:14 PM
Out of curiosity, what % WR are folks here planning to retire with?

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:
These realizations along with some detailed reading on "safe" withdrawal rates has caused me to consider 5-6% WR to start. In the "easy-math" scenario, where one would retire with $1M in assets and plan on withdrawing $40K per year (4%), I would now consider retiring with $667K - $800K (6%-5%), with the intention of the WR eventually reaching 4% or lower as the portfolio grows.

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."
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on December 11, 2017, 01:21:48 PM
Our target is 4%. We actually will initially do 2-3%. We travel a lot and we plan to do even more during RE. Initially we are going to target inexpensive areas (and hard activities) first, so we will need less. If that makes sense.
Title: Re: 2020 FIRE Cohort
Post by: RedefinedHappiness on December 11, 2017, 03:05:15 PM
4% but with a lot of margin/buffers. Not counting SS, not counting some other assets, etc. And still I might decide to work longer once I get to that 4% number.  Playing it by ear because I have no idea how I will feel at that point. Will it decrease stress level and make me feel ok about working longer?  Or will it make me even less tolerable of the corporate BS? 

I can understand how you might target 5% though.
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on December 11, 2017, 04:03:49 PM
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...
Title: Re: 2020 FIRE Cohort
Post by: FireLane on December 11, 2017, 07:46:33 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Half Stached on December 11, 2017, 09:00:03 PM
We are aiming for about 5%, but it becomes 4% once we figure in social security. Additionally, we have some extra buffers and I would be very surprised if we earn no money throughout retirement.
Title: Re: 2020 FIRE Cohort
Post by: scantee on December 11, 2017, 09:55:21 PM
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!
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on December 12, 2017, 07:51:23 AM
I'll probably start at about 2-3 % from investments to supplement my pension which is more like an annuity and will be less than 1/3 of my current salary.  My pension has no COLA and I anticipate my withdrawal rate from my investments will increase over time.  Healthcare costs are my biggest concern.  I hope to stick it out until the end of 2020, but I work for an elected official who is retiring next year, so a lot will depend on the regime change.
Title: Re: 2020 FIRE Cohort
Post by: asauer on December 13, 2017, 12:15:17 PM
We're aiming at 4% not including Social Security or the house.  We plan to downsize the second our kids are out of the house which should bring us to 3.75%.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on December 13, 2017, 01:10:12 PM
I'm planning 4%, with the option to do some very part-time work (20hrs a month type) in order to increase that IF NECESSARY to 5% (5k extra). But in all likelyhood, I'll be able to coast with 4%.
Title: Re: 2020 FIRE Cohort
Post by: nora on December 17, 2017, 07:06:41 AM
I am planning to retire on the 24th December 2020. Just in time for Christmas. I am somewhat apprehensive about actually stopping working, although I will only have to remind myself of my worst day at work and I will happily say goodbye. I will be 42. My husband has already retired, just before his 40th birthday.

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.


Title: Re: 2020 FIRE Cohort
Post by: Pennycounter on December 17, 2017, 09:43:25 PM
Welcome Layla! Maybe it’s because 2018 is so close but 2020 is feeling not so far away any more!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: rab-bit on January 01, 2018, 09:18:22 AM
Pencil me in for a 3/31/2020 retirement date. It could be sooner though since the financial situation at my employer is pretty shaky and I'm old enough that getting another job might not be that easy. My wife's employment situation is not all that stable either. We could probably make it work even in the worst case scenario so I'm not too worried, but it would definitely be much easier if we could both hang on for 2+ more years and execute our plan. Fingers crossed.
Title: Re: 2020 FIRE Cohort
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)
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on January 02, 2018, 03:16:11 AM
We are really saving our behinds off to finance the years between starting FIRE and starting to receive our regular pension. Eralier I presumed that our regular pension would be sufficient to live off. But I am currently realizing that my personal pension, with quitting so early, will be quite low. So low in fact that I think I will have to rely on DH's pension to survive without working. All well, but you never know how long a marriage lasts.

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.
Title: Re: 2020 FIRE Cohort
Post by: toocold on January 06, 2018, 08:37:00 AM
After finishing our financial updates for 2017, I'm now targeting 4/2020 for my RE date.  I'm already FI living off of 1.5% of NW each year but I'm hoping that my OMY stops at this date, after I accomplish some stuff I'm working on at work.  I'm excited to join this cohort!
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on January 06, 2018, 01:19:17 PM
I closed out 2017 with a 76% savings rate.

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on January 07, 2018, 08:01:00 PM
Dec-2017 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on January 07, 2018, 08:27:37 PM
Hey 2020 crew!  Put the wraps on another great year! We started our FIRE journey in earnest in 2015 after years of so-so habits, and have kept our sights on April 2020 as our FIRE date from the corporate world, and move to our "dream" L(M)COL location.


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
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on January 08, 2018, 08:10:07 AM
Still hoping for EOY 2020.  Putting more into tax deferred accounts and really going to focus living within my prospective budget for the next ~3 years.  I've spent way too much the last couple of years.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 08, 2018, 08:23:02 AM
I'm kinda unmotivated, I have everything put on automatic, so there's not much left to do except for wait for time to get me to 2020. (Everything indicates it'll go perfect, as I have job security and it's SR based, not market based for the FIRE date. (I.E. market returns will have almost no effect on the timing)

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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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.

$100 is very low, glad you can do it. I am fascinated by how much we can learn from youtube, etc. We are still on track for spring 2020 as planned.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 08, 2018, 09:52:41 AM
95% of my meals have about 3 ingredients + spices. When everything is around 1$/Lbs or less, it's easy enough to reach 100$.
Title: Re: 2020 FIRE Cohort
Post by: dreams_and_discoveries on January 09, 2018, 02:06:26 AM
It's great to see everyone's progress here as the years reduce, are people counting down in months now?

On the grocery budgets, fascinating how different everyone's version of the norm is....to me $100 seems reasonable rather than a frugal target.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on January 09, 2018, 03:30:51 AM
1187 days for me!
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 09, 2018, 06:12:01 AM
927 here! or 30 Months!
Title: Re: 2020 FIRE Cohort
Post by: asauer on January 09, 2018, 06:13:03 AM
Another good month!  Still aiming at 12/31/2020. 

Sept 1 2017:526,110
Oct 1: 531,034
Nov 1: 548,730
Dec 1: 564,953
Jan 1, 2018: 580,396



Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on January 09, 2018, 07:56:37 AM
811 days =p
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 09, 2018, 07:57:44 AM
811 days =p

Well played... well played.
Title: Re: 2020 FIRE Cohort
Post by: bluebelle on January 10, 2018, 08:48:46 AM
I'm in....our target date is May 31 2020 - date hubby qualifies for a (reduced) defined benefit pension then.  We're holding out for that date, because retiring rather than quiting, gives us access to the group rate for retiree benefits, rather than purchasing it privately.  Contrary to popular belief, health care in Canada is not free, only basic medical, and hubby has some medical issues that require some expensive drugs. 

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. 
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 11, 2018, 11:17:44 AM
Wouldn`t that be a nice suprise Linda:

-Recalculates the numbers: Oh, we can FIRE now.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on January 11, 2018, 01:41:22 PM
DH has started spending me updates on how many days we have left.  Also, how many of those are working days.  And how many weeks.  That man loves excel.

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
Title: Re: 2020 FIRE Cohort
Post by: MaybeBabyMustache on January 17, 2018, 02:48:59 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!
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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.

Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 24, 2018, 06:47:55 AM
I have a hard date: july 25th 2020, because I have access to a ton of services/expense saving options for making it to that date. (And since I`m getting there at very high SR, it`s pretty much the time I will hit my stash number +/- 5%, even if the market goes down.)

But If I were to find a 250,000$ bill on the ground, I`d fire today. (After bringing it to the bank)
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on January 24, 2018, 06:57:50 AM
I hit my "low" stash number this week. If our office gets hit by a meteor, or our COO gets run over by a bus, or they just get tired of my face and fire me, I won't look for a new job, I'll just FIRE.

But I am still looking at Friday, March 20, 2020 to retire on my own terms.
Title: Re: 2020 FIRE Cohort
Post by: tyd450 on January 24, 2018, 10:22:14 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.




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.



Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on January 24, 2018, 10:34:37 AM
If only... I'd be fined. (Military wouldn`t allow that sort of shenanigans)
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on January 25, 2018, 11:08:22 AM
12/31/2020. It's the first date I'm eligible to take my pension and get partial retiree health benefits.  However, I will be getting a new boss and if they decide to reorganize or if things become unbearable, I have FU money.
Title: Re: 2020 FIRE Cohort
Post by: robtown on January 25, 2018, 08:39:00 PM
I pushed my FI out to the end of March 2020 from 2019 a year ago.  For me it is too late to RE, since I am 61.   My DW and I live in a HCOL area and our estimated monthly expenses in retirement would make many here gasp.   Fortunately, the DW's pension and my social security will cover most of the base expenses.  My 401k will cover unexpected expenses, better food, and entertainment/fun.   Now to convince my wife that 2 condos (one empty  at any time), each the cost of our soon paid-off house,  are not a viable option in retirement.    I'd rather have one nice single family home and rent in other locations for a couple weeks or a month.

As each week that passes it seems that the 2020 date is no closer.  Maybe I need to install a countdown timer.
Title: Re: 2020 FIRE Cohort
Post by: princeradar on January 25, 2018, 08:57:46 PM
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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: tipster350 on January 28, 2018, 02:54:46 PM
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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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).
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on February 01, 2018, 08:39:34 AM
Just stop it with these January numbers. The market came to its senses a bit the last few days, but still. That was the single largest monthly gain (in real dollars and %) I've seen in over two years. It's going to be an interesting few years for this group I think. It's fun to pop into the 2018 and 2019 FIRE threads too. Lots of OMY conversations as no one seems to trust this market.

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....
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on February 01, 2018, 12:36:46 PM
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
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on February 01, 2018, 02:23:40 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.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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 :)
Title: Re: 2020 FIRE Cohort
Post by: FIPurpose on February 04, 2018, 12:58:30 PM
When I first joined this forum, I remember setting my FIRE date to 2020. I began living my FIRE life in 2017. We took a road trip, and we started volunteering which covered all our expenses.

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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on February 05, 2018, 05:52:11 AM
In my FIRE spreadsheet, I made made an estimate of what we can be left with after selling our house. My conservative estimate is 12% lower than what we paid for the house 2,5 years ago.

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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on February 05, 2018, 03:53:32 PM
I wonder how many folks timeline is affected by the current correction in progress?

I had about 1 year of living expenses wiped out in the past 5-6 trading days.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on February 05, 2018, 05:14:12 PM
It's still up 20% from 2017... On a longer timeframe this 2-4% pull back is nothing.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on February 05, 2018, 06:28:06 PM
The 2018 cohort seems to be holding it together so I'm not going to worry just yet. Though we are facing another potential government shutdown this week. I'm sure that will go swimmingly. It's good when your government is living paycheck to paycheck, right?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on February 05, 2018, 06:46:38 PM
And we are likely going another 10%+ lower before any real bull resumes.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on February 05, 2018, 06:51:28 PM
If we drop another .7% then at least we will have the "correction" everyone has been predicting and maybe things will settle down.
Title: Re: 2020 FIRE Cohort
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!)
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on February 05, 2018, 09:51:09 PM
Today one of the "financial experts" in the paper said that the market might not recover from this correction. He himself did not have stock at this moment and didn't plan to buy any. He advised people to not buy new stock.
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on February 06, 2018, 05:29:30 AM
As an actionable item, it feels like a good time to brush up on tax-loss harvesting concepts. Fortunately, I think the FIFO rule was dropped out of the final iteration of the tax plan, but I have some reading up to do to understand if anything else impacted it.
Title: Re: 2020 FIRE Cohort
Post by: dreams_and_discoveries on February 06, 2018, 11:46:12 AM
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.
Title: Re: 2020 FIRE Cohort
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.

Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on February 06, 2018, 01:25:04 PM
I'm out of buy money until 2.5k gets transfered from my bank to Questrade (Been over 3 months). I'm quite content with the market calming the hell down. (Technical jargon, hope everyone can follow)
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on February 06, 2018, 01:50:13 PM
I'm glad that this there are has been somewhat of a drop.  Helps me see how my allocation will react.  I'd rather face a correction of downturn before I FIRE rather than right after.

I kept with my plan and put in a buy order yesterday for my every other week 457b contribution.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on February 07, 2018, 12:17:19 AM
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.
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on February 10, 2018, 10:55:22 AM
I "timed the market" by investing my HSA into the market, where it was previously just sitting in a low interest MM account with my HSA provider.

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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: markbike528CBX on February 10, 2018, 02:25:21 PM
RE: market timing.    Not sure if this is the original source... but

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.


Title: Re: 2020 FIRE Cohort
Post by: FireLane on February 17, 2018, 02:03:32 PM
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.
Title: Re: 2020 FIRE Cohort
Post by: Richmond 2020 on February 17, 2018, 11:12:35 PM
Okay i’m joining the 2020 cohort. Put me down for the 31st of December 2020.

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!

Title: Re: 2020 FIRE Cohort
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.

Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on February 19, 2018, 09:36:55 AM
770 Days to go!
550 Weekdays to go!

Anyone scheming of ways to slide into the 2019 cohort? *raises hand*
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on February 19, 2018, 09:46:33 AM
I'm planning on creating a camera company, then saying I'm moving into bitcoin.

That should save a year on FIRE right?
Title: Re: 2020 FIRE Cohort
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...
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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)?
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on February 26, 2018, 07:28:35 PM
Looks like the market gave us some of those gains back =)

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 $14k in from June-August.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on February 26, 2018, 07:36:54 PM
I'm okay with it, I already deployed all cash. Literally at 2000$ until next paycheck:D
Title: Re: 2020 FIRE Cohort
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. :)
Title: Re: 2020 FIRE Cohort
Post by: Rubyvroom on March 01, 2018, 07:51:01 AM
Well that was a sad month for market gains but we're still net positive for the year at least. We've somehow managed to crank out nearly 75% savings rate both months, so that certainly helps to stand our ground when the market stumbles.

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!
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on March 01, 2018, 02:10:52 PM
Ooof, looks like March is off to a rough start.

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. 
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on March 01, 2018, 02:27:02 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
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on March 02, 2018, 12:47:10 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. 
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on March 02, 2018, 10:25:28 AM
Feb-2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on March 02, 2018, 10:42:21 AM
Market up market down, numbers are not pretty recently but we still on target for 2020.
Title: Re: 2020 FIRE Cohort
Post by: princeradar 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.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on March 02, 2018, 03:07:51 PM
My house is in the 200k range, (2% mortgage, got really lucky and got a fixed at the lowest moment possible)
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.
Title: Re: 2020 FIRE Cohort
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 :).
Title: Re: 2020 FIRE Cohort
Post by: Maenad on March 14, 2018, 07:35:39 PM
Had a bit of a freakout moment today, and only the FIRE community will understand. :-)  I've been meaning to re-run FIRECalc and cFIREsim with our numbers, just to make sure, and realized that DH had misheard me when I originally gave him the goal total - he overestimated by $160,000. It's enough of a difference to bring in our date significantly - it's still in 2020, but has moved up by months, and I just had one of those "this is really going to happen" hyperventilating moments. We've been planning it for 20 years, so to have the goal so close is scary/exhilarating.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: Nancy on March 16, 2018, 04:22:44 AM
@Maenad Congrats! Way to stick with it!
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on March 17, 2018, 12:10:55 PM
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.

Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on March 17, 2018, 01:46:43 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)
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on March 27, 2018, 01:08:59 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.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on March 27, 2018, 02:23:08 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on March 31, 2018, 09:27:13 AM

We won't be tying the knot till 2020 most likely.

Spring, Summer, Fall, or Winter?
Title: Re: 2020 FIRE Cohort
Post by: asauer on April 02, 2018, 06:16:15 AM
Dang it.  I tried not to look, but I did.

April 1: 522,955k down from
March 1: 598,288k

Ugghhhh!!!
Title: Re: 2020 FIRE Cohort
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 :)
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on April 02, 2018, 11:11:52 AM
March-2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on April 03, 2018, 01:33:15 AM
Even though the return of my index funds is at an all time low, the total amount of what it is worth has actually risen since December. At December I had 750K NOK (Norwegian crowns) in my personal index fund. I have since pumped in a LOT of money, but still didn't see it grow at all. Today I noticed it has actually grown to almost 800K NOK. I probably put in twice the difference, but at least we are making a bit of progress towards or FIRE amount.

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.
Title: Re: 2020 FIRE Cohort
Post by: Maenad on April 03, 2018, 05:06:50 AM
We did our end-of-month financial summit over the weekend.

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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on April 24, 2018, 12:51:45 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!
Title: Re: 2020 FIRE Cohort
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).
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on April 25, 2018, 09:52:33 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. You are always welcome back here :)
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on April 26, 2018, 10:36:52 AM
It was a joke!

(Though quite serious that I really don't want the OMY syndrome.)
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on May 01, 2018, 10:05:30 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
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on May 15, 2018, 12:20:56 PM
It has been awfully quiet on here....

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
Title: Re: 2020 FIRE Cohort
Post by: rab-bit on May 15, 2018, 12:58:07 PM
Yes, I was thinking the same thing, very quiet here...

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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on May 15, 2018, 01:58:56 PM
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.

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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on May 15, 2018, 03:13:44 PM
It's quiet because everyone is contemplating OMY.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on May 15, 2018, 05:04:35 PM
OLY here. Even here I will be different!
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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?
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on May 17, 2018, 08:29:01 AM
958 calendar days to go.  A lot is changing for me in those days, so I'm not positive about my FIRE date.  It could be earlier if the new boss I have in Jan 2019 is an asshole or it could be later if things take a turn for the positive and I begin to enjoy my job again.  Also, it looks like my BF will be moving in next year and I just don't know how that will effect things.  Health insurance is also a concern.  But I'm sticking with 12/31/2020 for now.
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on May 17, 2018, 05:37:28 PM
Currently looking at May 2020.  We'll see though.  Will adjust based on how work is going.  If I'm having fun I'll stick around longer...
Title: Re: 2020 FIRE Cohort
Post by: Rcc on May 20, 2018, 07:06:31 PM
I’m hoping to land my lawn dart in May 2020 as well. Macro factors that I share with others, mean my FI and RE may be split:

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.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on May 23, 2018, 03:23:17 PM
Apparently May 2020 is the time to retire!
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on May 25, 2018, 05:13:06 AM
2019 would be even better than 2020, if you are ready :).
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund on May 26, 2018, 08:08:41 AM
Apparently May 2020 is the time to retire!

Why May though?
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on May 26, 2018, 09:46:34 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 =)
Title: Re: 2020 FIRE Cohort
Post by: Rcc on May 26, 2018, 01:31:37 PM
May for me lines up with my birthday that year 😆
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: DeanHedlund 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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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 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.
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...
Title: Re: 2020 FIRE Cohort
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. 
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on May 31, 2018, 12:50:55 AM
I would appreciate it if you would contribute to my thread here, since it is a major part of our FIRE moment:

https://forum.mrmoneymustache.com/real-estate-and-landlording/when-is-a-smart-time-for-us-to-sell-our-house/

(I will also post it in the 2019 thread.)
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on June 01, 2018, 02:15:29 PM
May 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on June 05, 2018, 01:41:29 AM
Pasted from my post in the 2019 FIRE cohort thread:
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.
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on June 05, 2018, 05:02:16 AM
Linda,
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
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on June 05, 2018, 07:19:31 AM
I hit my "If the office is destroyed by a meteorite, I won't look for another job" number.

Under 400 work days to go, still anticipating March 20, 2020 as the end.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: letsdoit on June 18, 2018, 01:19:48 PM
is anyone FIRE with less than 1 million?
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
Post by: Lews Therin on June 18, 2018, 01:33:58 PM
500k CAD stash for me. + Maybe 50k in house equity.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: SwordGuy on June 22, 2018, 10:56:33 PM
The 2018 thread is cranking out FIRED folks left and right.

Y'all are closer than you think to 2020!   
Title: Re: 2020 FIRE Cohort
Post by: Loren Ver on June 23, 2018, 04:41:18 AM
So much going on!

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!!!!
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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 ?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on June 30, 2018, 11:11:47 AM
June 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: steveo on June 30, 2018, 06:28:40 PM
Everyone sounds like they are doing great here so well done but I'm going to spoil the party.

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.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on July 02, 2018, 11:50:58 AM
This is the first year we are doing a deep-dive into tracking every one of our expenditures.  Recognizing we are at the ~2 year countdown, we want to be sure our annual expense assumption is valid.  At the end of 2018, we'll use our expense info (categorized) to project future expenses in our new LCOL location.  While we won't make COLA assumption changes, we will account for some "known" cost reductions vs. our current HCOL scenario:

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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on July 03, 2018, 02:39:54 AM
Today I requested to work 80% in my current job from September. DH will apply for the same thing at his work. This means we will have a long weekend every week, if it is accepted. It will move our FIRE date a few months later, which I think will be worth it for making life better until that time.
My direct boss was initially positive, but there are others who decide. So, we'll see what they will answer. Recently a valuable colleague quit his job. I think they are cautious to keep me on board.

Edit: my request for 80% work is granted.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on July 03, 2018, 03:11:28 AM
This is the first year we are doing a deep-dive into tracking every one of our expenditures.  Recognizing we are at the ~2 year countdown, we want to be sure our annual expense assumption is valid.  At the end of 2018, we'll use our expense info (categorized) to project future expenses in our new LCOL location.  While we won't make COLA assumption changes, we will account for some "known" cost reductions vs. our current HCOL scenario:

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.

I have also been thinking at what we will save when FIRED and after we move into the country.
- Reduce 2 cars to 1 car. But our second car is an El Cheapo, so not much to save here.
- A bit of petrol, but that will be made up  by frequent trips in FIRE.
- No monthly train tickets, 130 USD a month.
- No lunches at work for DH
- Putting half the value of our house in funds or bonds, hopefully generating money instead of sitting in the house.
- Hopefully not paying for 2 private roads, 900 USD per year.
- More time for side-gigs that hopefully can generate some money.

But we will miss:
- Whole year, whole family travel insurance
- Occasional private printing
- DH's phone subscription with 5 GB data
- Drinking tea and eating fruit at work
- Health insurance that helps you faster than the almost free public healthcare system
- Living in a community without property taxes. There are not many such places left here in Norway.
- Good incomes

Our travel will probably change. I think we will make more longer trips and stay longer in the same place, instead of rushing home after a (long) weekend. But of course we will make more trips in total and do more hobby stuff that might require driving. I hope to find a place to live where lots of our daily stuff is at walking/cycling distance. And I hope that we on foreign trips can choose cheaper times to fly or have time to take a slow bus occasionally. Living in a less central location will probably make flying abroad more expensive.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on July 12, 2018, 06:42:08 AM
Our FIRE plan includes selling the house. I had made a very conservative estimate for the house, as I am not a typical optimist person.
This week I had an estate broker to see our house to give his estimate on a possible sales price. His lowest estimate was 18% above my conservative number. And his most optimistic estimate is 32% above my conservative number.

This means I have updated the value of our house in my excel sheet with 7% and I could probably set it higher. But it means that the consequences of us starting to work 80% from September will not be as negative for our finances as I had thought. I am now pretty sure we could FIRE at the beginning of 2020 or even slightly earlier if we would manage to sell the house in 2019 for a good price. So even though I thought I was definitively out of the 2019 cohort, I might still have a toe hanging in there. We'll see where it ends, but it won't last longer than 2020, if the house market doesn't completely crash, that is.

I am also getting more and more interested in selling the house without an estate broker. It will be a lot of work. But there is a lot to save and knowing ourselves, we would do a pretty thorough job collecting all the required information. But I am not sure whether our house is easy enough to sell to do it this way. We can't really afford to loose any potential buyers because they are sceptical.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Richmond 2020 on July 24, 2018, 01:44:20 PM
Saving and investing more. Earning more. I’m moving my date forward to 2019.
Title: Re: 2020 FIRE Cohort
Post by: Pennycounter on July 25, 2018, 08:29:36 PM
I'm committed to leaving full time work in Q2 of 2020. We will not be FI but we will have enough for lots of flexibility.  We will either workr less cover the gap or move to a lower COLA.

Plan is to kick some #@# in the next two years, save, save, save, hit eject and see what happens.
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on July 27, 2018, 03:54:54 PM
Staying the course.  Expenses took a big jump with multiple expensive car and home repairs.  Looking at some future home repairs as well, but we're still on track.  Really, nothing unexpected in the whole, just bad timing to have them all happen right now.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on August 01, 2018, 11:54:05 AM
July 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: MoneyTree on August 09, 2018, 06:36:54 PM
Hoping to be a part of this cohort, but it seems like the finish line is moving further away as I get closer to it. Does anyone else feel that way?

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!
Title: Re: 2020 FIRE Cohort
Post by: TheContinentalOp on August 28, 2018, 11:03:53 AM
I hit my walkway-on-my-terms number. Still 18 months out from my planned FIRE date.
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on September 03, 2018, 06:42:54 PM
August 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: onlykelsey on September 04, 2018, 07:16:23 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.

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.
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.

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. 
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Pennycounter 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...
Title: Re: 2020 FIRE Cohort
Post by: FInding_peace on September 05, 2018, 09:40:19 PM
Hey onlykelsey, I'll +1 the comment about work stress potentially affecting the quality of your relationship right now.  I used to be an academic and I noticed an eerie pattern where I would always argue with my SO a lot more towards the hectic end of the semester, and we would always get along great in the summer.  I didn't think I was any different during those two times, but the pattern reoccurred so consistently, that I eventually concluded that clearly I was.   

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. 
Title: Re: 2020 FIRE Cohort
Post by: catccc on September 14, 2018, 03:18:40 PM
Hesitantly joining.  I'd love to be done by 2020, but I'm not sure if we'll hit our number by then, if I'll really be ready to pull the plug, or what.  We just crossed $1M in NW, but I should point out that maybe $95K is 529s, so that's not really part of our stash.  No real estate, for better or worse, we are renters.

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!
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on September 16, 2018, 03:32:19 PM
I still like what I do, but I'm also wishing my FIRE date was here.  Low unemployment is going to kill me.  We're running at only 75% the people in our department right now as compared to last year.  Job postings sit for months without getting a single response.  So swamped with work I can barely function some days.
Title: Re: 2020 FIRE Cohort
Post by: Gumption on September 20, 2018, 10:23:02 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?
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
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.

Title: Re: 2020 FIRE Cohort
Post by: markbike528CBX on September 20, 2018, 12:57:40 PM

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.
You CAN access tax deferred prior to 59.5 as 72(t) / SEPP.

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.
Title: Re: 2020 FIRE Cohort
Post by: catccc on September 20, 2018, 04:15:12 PM
We recently gained access to a 457, so in addition to our Roth contributions, those amounts will be easily accessible once DH separates from his employer.  I suppose people in this cohort should be seeding their Roth pipelines soon.  Although we (collective 2020 cohort) are less than 5 years out from FIRE, many of us probably have incomes that make converting at this time illogical.  We (DH and I)are definitely still in the mindset of reducing taxable income and maximizing shelters at this time.  As of this year, between DH and I, we have $158K in Roth contributions, plus an $80K conversion from a year we had unusually low income. Plus taxable investments of $203K.  So that's a total of $441K, or 7.35 years of expenses assuming our spend stays near current levels, $60K/year.  (Last year was actually just over $56K, but 2016 was $58K and 2015 was just shy of $60K... it's a work in progress).

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.
Title: Re: 2020 FIRE Cohort
Post by: ixtap on September 20, 2018, 04:25:56 PM
Don't forget that if you have access to mega backdoor Roth, you have another way of building up your bridge fund. It doesn't necessarily have to be in taxable to have easy access prior to 59.5.
Title: Re: 2020 FIRE Cohort
Post by: Bateaux on September 20, 2018, 06:36:28 PM
Since we're wanting Fat-Fire we're almost certainly extending to 2020.  I'm really not mentally prepared anymore anyway.   It's about more than the money we've saved. We've got things to wait out.
Title: Re: 2020 FIRE Cohort
Post by: catccc on September 21, 2018, 05:38:20 AM
@Bateaux what does fat fire mean for you? (Aka, what’s your target # and drawdown rate?)
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Gumption on September 21, 2018, 07:43:44 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)

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.



Title: Re: 2020 FIRE Cohort
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/)
Title: Re: 2020 FIRE Cohort
Post by: Gumption on September 21, 2018, 10:13:55 AM
Thanks. Yes it comes down to that conversion period and being under a certain income threshold. So for those of us to still plan on working at least a little, its a bit hard to figure in a Roth ladder strategy.

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.
Title: Re: 2020 FIRE Cohort
Post by: ixtap on September 23, 2018, 10:06:15 AM
Our plans are in flux, but DH's new mantra is "Just 20 more months." His RSUs vest in May and our current lease is up in June 2020.

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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_Norway on September 23, 2018, 12:37:13 PM
I am now officially aiming to FIRE in 2019, given that the house market doesn't crash in the next 3/4 year.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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!
Title: Re: 2020 FIRE Cohort
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!!!
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: meatgrinder on September 24, 2018, 11:31:13 AM
I don't want to have to count on ACA subsidies

Why not?

Title: Re: 2020 FIRE Cohort
Post by: david_shin on September 24, 2018, 11:37:26 AM
Shooting for December 2020 at superleanFIRE but that's assuming nothing happens between now and then. No sabbatical, no cost of living increase, no job change / raise, etc...

But that's the goal! Want to go to Argentina in December 2020 as our first step into FIRE.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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. :-)
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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?
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on September 29, 2018, 03:34:00 PM
September 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: BlueMR2 on September 30, 2018, 11:48:27 AM
Another expensive month behind us, this year has not gone according to plan.  All kinds of crazy expensive house and car breakdowns.  That said even though this one year has been ugly, we're well on track for our goals and I've actually started funding some hobbies again and doing minor house upgrades (think wall repairs, painting, etc, not anything silly like new cabinets) that I had chopped out to accelerate our savings in prior 3-4 years.

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.
Title: Re: 2020 FIRE Cohort
Post by: letsdoit on October 01, 2018, 08:34:10 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: Gumption on October 01, 2018, 10:13:50 AM
I work for myself, so have a high deductible insurance. We have two kids and are paying $1500/mo. I just got the updated rate for next year, and it went down $80 to $1420.
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: 2Birds1Stone on October 07, 2018, 05:24:08 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.

You're firing in two years?  Must have a lot of income coming in.
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.

Sent from my SM-N950U using Tapatalk

Title: Re: 2020 FIRE Cohort
Post by: meatgrinder on October 11, 2018, 04:53:53 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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
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.
Title: Re: 2020 FIRE Cohort
Post by: markbike528CBX on October 11, 2018, 09:46:36 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.
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. 

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  :-)
   
Title: Re: 2020 FIRE Cohort
Post by: Bateaux on October 11, 2018, 11:59:36 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.
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. 

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  :-)
   

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.
Title: Re: 2020 FIRE Cohort
Post by: Bateaux on October 12, 2018, 01:34:18 AM
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.
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. 

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  :-)
   

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.
Title: Re: 2020 FIRE Cohort
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
Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on November 05, 2018, 01:12:49 PM
October 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: Unique User on November 06, 2018, 05:36:49 AM
My company signed a project that ends with a bang in April 2020.  Talked with my boss about if I stay (we've both been talking about leaving this year) I wanted to negotiate a layoff with my vacation paid out on May 1, 2020, she agreed!  Husband had been planning on April 1, 2020 since bonuses are paid at his company end of March.  He's getting cold feet, fingers crossed my offer to get another FTE job if our numbers don't work out will help him stay the course!
Title: Re: 2020 FIRE Cohort
Post by: Freedomin5 on November 06, 2018, 07:16:13 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.
Title: Re: 2020 FIRE Cohort
Post by: Linda_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.
Title: Re: 2020 FIRE Cohort
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

Title: Re: 2020 FIRE Cohort
Post by: FIREby2021 on December 01, 2018, 04:22:59 PM
November 2018 highlights:

- 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
Title: Re: 2020 FIRE Cohort
Post by: BFGirl on December 04, 2018, 02:19:04 PM
758 days