2022 FIRE cohort

[ToughMother]

After a lovely review of our situation yesterday, it appears we both can be FIRE'd by the end of this calendar year. That said, I'd like to finish the academic year next year (and that will improve my small pension a bit). My spouse is younger and needs a bit more time to figure out what they want to accomplish... But I'm ready to pull the rip cord, so count me in for 2022!!

@ToughMother

After several more reviews, it looks like June 16, 2022 will be the date (end of pay period, end of academic year, maxed out vacation accrual to cash out) of retirement. That will get my small pension to the key number we need, it will let our sufficient stash grow a bit more (market, supply chains, inflation willing!), and I'll get the retroactive raises that keep getting promised but bumped forward as the union negotiates the contract. Now they are saying spring 2022 (all the way back to 2020) for the raises.

The pension and stash will be sufficient for both myself and spouse to stop working, so more family decisions will be forthcoming. Once I'm done, I'm just going to chill for a while. I'm super burned-out, so decompressing, getting into a healthy routine and starting to do the things I enjoy again (pandemic willing!) will be fantastic to work on!

[Holocene]

"Only" 6 months left for me and it's feeling like an eternity, somehow. Anyone have any advice for getting through the home stretch? Maybe even enjoying it a little?

I also have around 6 months left and feeling the same way.  I took a long vacation earlier this fall which was great, but it sure was hard to get back into work.  At least for a few weeks after getting back, I kept busy and had a bunch of stuff to catch up on.  The last couple weeks though my work has slowed down which has made it worse.  It's really easy to get distracted when things are slow.  I've been a pretty bad employee lately.  Surfing the internet more when WFH and spending more time chatting when in the office.  I still feel guilty when I do that too much, but working on boring shit for 9 hours straight is honestly impossible at this point.  I could FIRE now.  I've reached my money goals.  But I'd rather stick it out through the winter and FIRE when it's nice out in the spring.  There are still occasional good days where I truly enjoy what I'm doing and I like the people I work with so I try and focus on those things.  There are certainly aspects of my current job that I will miss, but I want freedom so much more.

[Holocene]

On another note, I opened a Donor Advised Fund (DAF) this year as it'll be my last time in the foreseeable future with a full year's worth of pretty high income.  I donated VTSAX/VTI that I bought in 2013 (my first purchase in a taxable account) that had appreciated quite a bit.  Don't have to pay tax on the gains and still get to count the full amount in itemized deductions to save me 22%.  I initially tried doing a direct donation from Vanguard to a charity but it took a long time and seemed like a very manual process.  So I set up a DAF with Fidelity Charitable, then I transferred some shares to a Fidelity taxable account.  It's very easy to go from Fidelity taxable to Fidelity DAF.  I've been happy with that and the process is much more streamlined and easy to give to multiple different charities.  The fee bugged me a bit but I do think it's worth it.

I've also thought about putting up rooftop solar panels this year as it may be the last time the tax credit does me much good since it's non-refundable and I'm guessing my tax bills will be low in FIRE.  I'm more pulled to it for environmental reasons but figure now would be the time to do it if ever.  But my electric bills just don't seem high enough to justify this.  Not sure that a ~3kW system is really worth putting up.  I think I could still do it next year as well so I'll keep mulling it over and maybe get some quotes at some point...

Anything else people are doing as the end of 2021 nears in preparation for FIRE in 2022?

[lollylegs]

Welcome to the newcomers!

I've given notice at work and my leaving date will be sometime in April, it just depends on how quickly I can handover a few outstanding projects.

 I'm finding the days seem to be passing painfully slowly now, I've kind of checked-out but have a lot of work to finalise before I go. I cannot wait to wake up and not have to think about work. At the moment I'm enjoying the 'last time I will ever do this' of various annual end of year events & reports.

is this common in your country to give that long of notice or are you of a more typical age to retire?

I think it depends on where you work & what role you have, most people would just ive 2 weeks to a months notice if not in management roles. I'm 58 and have been acting in a senior management role this last year. We have a lot of change & new projects coming in January & half of my teams positions are vacant. I know my leaving will have quite and impact so giving notice early helps with the planning. I have a great manager though and a really good team.  I probably wouldn't be so generous with notice if I had bad manager though.

[ToughMother]

@lollylegs I’m in the same boat (both age and role). Manager position at a place that has an arduous hiring process. I think my direct report will be promoted to my position but then their position needs to be back filled.

Since my plan is retirement and not leaving for another gig, I suspect I’ll start conversations with my supervisor once back from holiday break. Plenty of time for planning, seeing how they want to handle it, and it is during a quieter time when people can take in the info when not slammed with the peak of work.

Operation June Retire!

[Much Fishing to Do]

On another note, I opened a Donor Advised Fund (DAF) this year as it'll be my last time in the foreseeable future with a full year's worth of pretty high income.  I donated VTSAX/VTI that I bought in 2013 (my first purchase in a taxable account) that had appreciated quite a bit.  Don't have to pay tax on the gains and still get to count the full amount in itemized deductions to save me 22%.  I initially tried doing a direct donation from Vanguard to a charity but it took a long time and seemed like a very manual process.  So I set up a DAF with Fidelity Charitable, then I transferred some shares to a Fidelity taxable account.  It's very easy to go from Fidelity taxable to Fidelity DAF.  I've been happy with that and the process is much more streamlined and easy to give to multiple different charities.  The fee bugged me a bit but I do think it's worth it.

I set up and funded a Vanguard DAF during my two really huge business profit years a few years back with some highly appreciate stock, it really did basically double my giving power of those dollars when you combine the bracket I was in plus the gains diverted.  I intend to make all my charitable donations (larger than the $500 min.) from that going forward (a charitable deduction will be worthless to me in RE).  If the charity is not already on their list it can take some time, but I've found around like 3 weeks usually, which is fine in any of my instances.  Once you have them set-up in the system then it seems like just a week turnaround.

I just put it all in VTI and plan to give away around 6% of it each year, so could last a lifetime, or maybe not, depending on how that performs.

[boarder42]

On another note, I opened a Donor Advised Fund (DAF) this year as it'll be my last time in the foreseeable future with a full year's worth of pretty high income.  I donated VTSAX/VTI that I bought in 2013 (my first purchase in a taxable account) that had appreciated quite a bit.  Don't have to pay tax on the gains and still get to count the full amount in itemized deductions to save me 22%.  I initially tried doing a direct donation from Vanguard to a charity but it took a long time and seemed like a very manual process.  So I set up a DAF with Fidelity Charitable, then I transferred some shares to a Fidelity taxable account.  It's very easy to go from Fidelity taxable to Fidelity DAF.  I've been happy with that and the process is much more streamlined and easy to give to multiple different charities.  The fee bugged me a bit but I do think it's worth it.

I set up and funded a Vanguard DAF during my two really huge business profit years a few years back with some highly appreciate stock, it really did basically double my giving power of those dollars when you combine the bracket I was in plus the gains diverted.  I intend to make all my charitable donations (larger than the $500 min.) from that going forward (a charitable deduction will be worthless to me in RE).  If the charity is not already on their list it can take some time, but I've found around like 3 weeks usually, which is fine in any of my instances.  Once you have them set-up in the system then it seems like just a week turnaround.

I just put it all in VTI and plan to give away around 6% of it each year, so could last a lifetime, or maybe not, depending on how that performs.

We opened our daf at the end of 2017 to take advantage of the change in tax law at the time. We put 25k in and have given away 11k since then out account is worth 28k now. Pretty awesome perpetual giving account

[arrintonpalmer]

It's time I join this Cohort. June 6, 2022 is my Army retirement date and we will be FI then, a month and a half before my 38th birthday(two months before my wife's 39th, our kids will be 6 and 4).

I've waffled on whether it would be my FIRE date or not because the pension won't start until I'm 60(2044). I spent over a decade in the regular Army and when I resigned(FU Money) I figured I was pushing out my real retirement. However, the spreadsheets say we will be FI by then, so here I am.

I'll probably keep earning my grad student stipend for a few years afterwards, because it's lots of fun and feels like a retirement already.

I jumped into the Cohort in 2018, and just made a commitment that locks me in. When I joined I had left the Active Army for the Army Guard (civ: quit my full time job and started doing the same thing part time) and had started graduate school. Since then I finished a master's degree, started a PhD - and then was told I was deploying (civ: involuntarily full time for a total of about 15 months, with about 9 months overseas).

That full time military stint is ending next month. I committed to attend a 4 month military school in 2022, May to August. I'll keep the part time Army job for about three years so I can't 'vest' at my next highest paygrade, and as long as I don't volunteer for anything I will work 2-3 days a month and a few weeks in the summer for the next three years.

We are 'skinny fi' ('stache=25x avg annual spending for the last 4 years) since last year.

We will be 'fat fi' (buffer to pay kids college etc) when I finish that course in August.

I have a VA disability rating that I count in our 'stache and I'll start receiving a pension that covers 'skinny fi' in 2043; the 'stache only has to last 21 years. Because those two benefit die with me I will carry life insurance throughout, and have that factored in.

It has been really tough to be away from my wife and kids for the last 9 months, but it's nearly over, we added 100k (on top of market gains) to the 'stache, and I got to command an infantry company overseas for a year (which checks the MMM badassity block).

The tough part is leaving my academic program - it's a great gig, with great people, interesting and meaningful work. We have been growing our 'stache deliberately since about '12-aimlessly since '07-and now I have the amazing privilege at hand of spending mountains of time with my kids while they grow up. I'm sitting on the email to my advisor letting him know I'm not coming back, hesitating to send it. It is the right thing to do, and it's what we've been working for, but before this deployment I thought I would hit FI somewhere along the way to completing the PhD, complete it and RE. I've learned that I can't say yes to everything I want to do, kind of like with these fat 'staches we've got. Most of us could buy anything, but not everything, and I want to buy time with my wife and kids.

I just re-read the whole cohort thread, what I love is the variety in 'exits'. For the most part RE does not seem to be happening for folks in that "I hit 25x, walked out, and never looked back' way. We are all taking little detours and twists that fit the realities of our lives. It's always good to have a cohort, even when going though something good.

[friedmmj]

It's time I join this Cohort. June 6, 2022 is my Army retirement date and we will be FI then, a month and a half before my 38th birthday(two months before my wife's 39th, our kids will be 6 and 4).

I've waffled on whether it would be my FIRE date or not because the pension won't start until I'm 60(2044). I spent over a decade in the regular Army and when I resigned(FU Money) I figured I was pushing out my real retirement. However, the spreadsheets say we will be FI by then, so here I am.

I'll probably keep earning my grad student stipend for a few years afterwards, because it's lots of fun and feels like a retirement already.

I jumped into the Cohort in 2018, and just made a commitment that locks me in. When I joined I had left the Active Army for the Army Guard (civ: quit my full time job and started doing the same thing part time) and had started graduate school. Since then I finished a master's degree, started a PhD - and then was told I was deploying (civ: involuntarily full time for a total of about 15 months, with about 9 months overseas).

That full time military stint is ending next month. I committed to attend a 4 month military school in 2022, May to August. I'll keep the part time Army job for about three years so I can't 'vest' at my next highest paygrade, and as long as I don't volunteer for anything I will work 2-3 days a month and a few weeks in the summer for the next three years.

We are 'skinny fi' ('stache=25x avg annual spending for the last 4 years) since last year.

We will be 'fat fi' (buffer to pay kids college etc) when I finish that course in August.

I have a VA disability rating that I count in our 'stache and I'll start receiving a pension that covers 'skinny fi' in 2043; the 'stache only has to last 21 years. Because those two benefit die with me I will carry life insurance throughout, and have that factored in.

It has been really tough to be away from my wife and kids for the last 9 months, but it's nearly over, we added 100k (on top of market gains) to the 'stache, and I got to command an infantry company overseas for a year (which checks the MMM badassity block).

The tough part is leaving my academic program - it's a great gig, with great people, interesting and meaningful work. We have been growing our 'stache deliberately since about '12-aimlessly since '07-and now I have the amazing privilege at hand of spending mountains of time with my kids while they grow up. I'm sitting on the email to my advisor letting him know I'm not coming back, hesitating to send it. It is the right thing to do, and it's what we've been working for, but before this deployment I thought I would hit FI somewhere along the way to completing the PhD, complete it and RE. I've learned that I can't say yes to everything I want to do, kind of like with these fat 'staches we've got. Most of us could buy anything, but not everything, and I want to buy time with my wife and kids.

I just re-read the whole cohort thread, what I love is the variety in 'exits'. For the most part RE does not seem to be happening for folks in that "I hit 25x, walked out, and never looked back' way. We are all taking little detours and twists that fit the realities of our lives. It's always good to have a cohort, even when going though something good.

Congratulations and thank you for your service to our country.  I'm not sure I would refer to 25x as "skinny"  that seem like it's got some good meat on the bones to me!

[arrintonpalmer]

Yeah, skinny refers to the level of spending not my comfort with the withdrawal rate. We are comfortable with what we spend, but have the delusion that we will want to spend more in RE despite the evidence to the contrary.

[Axecleaver]

We all think that while we're working. We're all surprised when our retirement spending is lower than planned.

[boarder42]

We all think that while we're working. We're all surprised when our retirement spending is lower than planned.

Still interested to see this. But we saved passed the 5% we expect to be fine with and will have other income streams. Be interesting if we over saved and spending is lower bc I've honestly stopped caring about our spending and hardly even track it. I always knew we'd over save most likely bc I was working til year end after we hit our number.

[2Birds1Stone]

Also hoping that is the case! We already did a mini-FIRE in 2019 when we were @ 18X actual trailing 12 months of  expenses and ended up spending less than anticipated. When we pull the plug in May we'll be somewhere around 25-28X, which should last into perpetuity if we don't spend more in retirement. The backup plan is just to go back to work for 1-2 years if we find that budget feels like a sacrifice.....not the worse thing to have to do in your late 30's.....

[arrintonpalmer]

We all think that while we're working. We're all surprised when our retirement spending is lower than planned.

Yup, if it wasn’t clear when I wrote it, I know we are over saving and I could probably not attend this course and still be fine. My wife is a little less comfortable with the numbers, so we are going fo the ‘fat’ number anyway. It still puts us as done with real work in 2022, and lets me ski my ass of with our older kid this winter when I get home!

I sent that email to my PhD advisor yesterday, no reply yet. I don’t think he is psyched, which is pretty fair but I didn’t volunteer to go on this deployment, and the extra money really changed our picture.

[Glenstache]

I’ve been pretty burned out at work (and generally) due to some big changes at work and also taking on a caretaker role for my SO who got a reaalllly badly broken leg in September. I’ve hit my lean fire number and a few other things are likely to line up in the next few years that would put me squarely into a more than comfortable category. In short, I could stop work today and be fine (most likely). I do still like a lot of the technical stuff I do, but PM eats my soul. Anyways, my bike was stolen at work this week. For whatever reason, that was the thing that made me say to myself “Fuck it, I need to change and get more of my life back.” The next day I set a meeting with company leadership and laid out a plan to go to part time and shift some project work around so that it would actually be part time. Given my role, this will be a transition over a couple of months. My current plan is to drop to 30 hrs/week through the spring and then taper to some other number if I feel I need to come spring and summer. This should allow me to concentrate on the parts of the job I am best at and enjoy the most, and also give me free time to get my physical and mental health back on track. I work at a great company and the response from leadership was overwhelmingly supportive.

Whew!

[Slow road to freedom]

I’ve formally submitted my notice now. Freedom in November 2022. One month ahead of schedule!
Now thinking ‘better write a list of things to do’ but doesn’t seem real yet.
Not yet excited, fairly neutral about the whole thing. Certainly not sad though!

[ToughMother]

I’ve formally submitted my notice now. Freedom in November 2022. One month ahead of schedule!
Now thinking ‘better write a list of things to do’ but doesn’t seem real yet.
Not yet excited, fairly neutral about the whole thing. Certainly not sad though!

Congrats!!! Submitting notice is so REAL!

I've not given notice (for June 2022), but may in the new year if the market stays reasonable.
That said, I've started to think about all the TO DO's for healthcare spending and getting accounts ready and checking with CPAs and CFPs and such. Now I'm wondering if some fine MMM'er has made a soon-to-FIRE check list!

Well done @Slow road to freedom

[MoseyingAlong]

....
That said, I've started to think about all the TO DO's for healthcare spending and getting accounts ready and checking with CPAs and CFPs and such. Now I'm wondering if some fine MMM'er has made a soon-to-FIRE check list!
....

Someone sure did.
https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/

Please add to it if you come across more items.

Best wishes!

[arrintonpalmer]

I work at a great company and the response from leadership was overwhelmingly supportive.

Whew!

That's awesome, I hope your downshift lets you regain some sanity and FIRE more smoothly.

[ToughMother]

....
That said, I've started to think about all the TO DO's for healthcare spending and getting accounts ready and checking with CPAs and CFPs and such. Now I'm wondering if some fine MMM'er has made a soon-to-FIRE check list!
....

Someone sure did.
https://forum.mrmoneymustache.com/post-fire/pre-fire-checklist/

Please add to it if you come across more items.

Best wishes!

Thanks! Reviewing it now.

[DaTrill]

Probably 2022 cohort, mostly due to WFH ending early next year.  Probably could have joined 2019-2021 but WFH stretched out my working life as there wasn't much one could do with more free time (travel curbs, current location and EFH eliminated most work issues).  Currently deciding whether to max ROTH or Regular for start of 2022, wondering what most people do on their way out.  Not really looking for calculations, but the end result of different individuals (I can do all the estimations, but crowd sourcing the answer). 

Also wonder if anyone plans to use ACA for the remainder of the year or Cobra private as ACA subsidies will not be available with higher income.  Will use ACA in some capacity from 2023 on, trying to estimate sweet spot of subsidies and income limits (appear to be 200% of FPL with Silver plans).

I've semi-retired between careers several times and have hobbies that I will want to pursue as soon as I can relocate, but sure will encounter other issues as most retirees with all their health tend to have some adjustments to the "new normal" of not working.     

[ixtap]

We plan to max traditional, but that is based on our best guess calculations (ie, much of our converting will not be taxed with our current plan). Might even get to contribute to Roth IRAs!

We plan to use COBRA for the remainder of 2022, not least because DH will start using up the deductible in January, with his PT.

[boarder42]

We plan to max traditional, but that is based on our best guess calculations (ie, much of our converting will not be taxed with our current plan). Might even get to contribute to Roth IRAs!

We plan to use COBRA for the remainder of 2022, not least because DH will start using up the deductible in January, with his PT.

anyway to see cobra pricing?

[ixtap]

We plan to max traditional, but that is based on our best guess calculations (ie, much of our converting will not be taxed with our current plan). Might even get to contribute to Roth IRAs!

We plan to use COBRA for the remainder of 2022, not least because DH will start using up the deductible in January, with his PT.

anyway to see cobra pricing?

We are going by 102% of what is reported on our W2, as his employer covers 100%

[Axecleaver]

Cobra can be a better choice if you've hit your deductible or max oop, but it's typically more expensive than a comparable plan on the exchange. Prices vary a lot across counties, so you really have to compare the options available to you and do the math.

[bownyboy]

Morning everyone!

I've graduated from the 2021 thread due to OMC (one more contract syndrome). I'm 48, wife is 56. Been on the FIRE path for 10 years now. Based in UK, DINKs.

Was due to finish up at the end of this month, but with Covid still throwing a spanner in the works for our travel plans, decided to take a contract renewal that my existing company offered (work in IT, surprise surprise!).

With a good stash comes leverage, so negotiated a month off between the contracts and moving down to a 4 day week (will most likely take odd days off during the week as well to make a mix of 3 and 4 day weeks).

This extra income will be put towards some home improvements and also towards our travelling experiences.

Plan is to rent out our house for at least a year and slow travel through South East Asia, Oz / NZ, Central America and Europe.

The 5 weeks off in September / early October was great. A real taster for slow travel and downshifting a gear. The 4 day working week has been a revelation, who knew a 3 day weekend would feel so different?

Trouble is, my motivation levels have never been lower. I am literally 'phoning it in' most days, doing the minimum I can get away with. Then feeling guilty for getting paid a decent day rate and that I shouldn't be complaining, first world problems etc.

Official end date for my contract is end of August 2022, not sure if I'll make it that far!

[2Birds1Stone]

@DaTrill, it really depends on your tax bracket. I would personally try to max out the 0/10/12% fed brackets before going tax deferred. Unless you plan on starting Roth conversions or the like in those brackets.....

[boarder42]

Cobra can be a better choice if you've hit your deductible or max oop, but it's typically more expensive than a comparable plan on the exchange. Prices vary a lot across counties, so you really have to compare the options available to you and do the math.

yeah its insanely more expensive.  I plan to put our kids on CHIP most likely and they try to get an ACA "review" of our ability to be on the ACA and then getting us put on medicaid b/c of our income the last 3 months.

[DaTrill]

@DaTrill, it really depends on your tax bracket. I would personally try to max out the 0/10/12% fed brackets before going tax deferred. Unless you plan on starting Roth conversions or the like in those brackets.....

Thanks.  Just looking for opinions, can't really talk to people at work about this.   

I'm probably going mostly ROTH as Regular balance is much higher, about 70/30 Trad/Roth.  I can go all ROTH, pay for private insurance after June or August until January 2023 or contribute all Traditional and start ACA with max credits in June or August.  No easy solution and just wondering what decision people made on their last year of work/ACA experiences with mid-year enrollments, other fun HR issues.  We have to do 100% of our own HR decisions and there is no professional support in this area, which makes the decision more challenging.  Making it more complex, Traditional can go into a 457, which is available before 59.5... and can use "catch-up" for the first time.

My gut says the main issue is the market.  If market tanks in the next few years, better to use traditional, then convert after the market tanks.  If market stays up or rips, better to use ROTH and enjoy tax free returns.         

[ixtap]

Last annual bonus is in the bank, as is the final MBR contribution.

DH is prepping for his last All Hands on Deck project next month.

Still no official transition plan, though. He has let it be known that he is walking away in June if they don't figure something out.

[friedmmj]

Last annual bonus is in the bank, as is the final MBR contribution.

DH is prepping for his last All Hands on Deck project next month.

Still no official transition plan, though. He has let it be known that he is walking away in June if they don't figure something out.

Very exciting!  Congrats!

[Holocene]

I'm planning to do all Roth next year.  Mainly because I only plan to work 3 months of the year and quit by early April.  This should have me in 12% bracket.  I think at 12% and below, Roth starts making sense.  I haven't decided if I'll do the full 50% of income I'm allowed or lower it a bit and save the rest for living expenses.  I just did a cash out refinance a few months ago so that might allow me to max out the 401k and still have enough cash on hand.  I'm currently doing 50% into MBD Roth after doing the full $19.5k to traditional this year.  Glad that loophole stayed around long enough for me to take advantage of it!

For health insurance, I'm just planning to do a private non-subsidized plan for 2022 since my income will probably be too high for good subsidies.  I'm looking at a $7k deductible/OOP max HSA plan with HealthPartners for around $250/mo.  I'm guessing this will be a lot cheaper than COBRA since I don't have any ongoing health issues.  So should just be the $250/mo for 8-9 months.  If I hit the deductible, that'll suck but I can handle it.  For 2023 and beyond, I should be able to get on a very low cost state plan if I keep my income below 200% FPG or around $25k at the moment.  Unless I decide to do another year or two of Trad to Roth conversions or capital gains harvesting while I'm young and currently healthy.  I'll have to re-evaluate that at the end of next year.

In other news, I randomly got a raise at work this week.  This was completely unexpected since our normal annual raises occur in March.  This has never happened before and is the 2nd largest % raise I've ever gotten, including 2 promotions.  I guess I've been underpaid since they said they reviewed market rates and bumped me up.  I have now just barely crossed into the 6 figure salary mark.  I didn't think I'd make it with my plans to quit next year.  And because of that, I'll never actually have a full year making 6 figures.  But I have enough, so more money is not going to entice me to stay.  Must be a crazy job market out there though if they're proactively giving people raises.  I guess the great resignation is real.  And I plan to be a part of it next year :)

[boarder42]

bonuses i've been waiting on and one of the 2 reasons i stayed employed are being distributed this week and hit bank accounts next week.  taking the week of xmas off I'm down to 11 working days this year and 8 next year.

[lollylegs]

 Told my team I'm retiring at our staff meeting yesterday, they were shocked but happy for me. I've also had my holidays cancelled and I have to be on call over Christmas but essentially from now I'm just finishing up and handing work over to people. It feels good to have it out in the open.

[boarder42]

Told my team I'm retiring at our staff meeting yesterday, they were shocked but happy for me. I've also had my holidays cancelled and I have to be on call over Christmas but essentially from now I'm just finishing up and handing work over to people. It feels good to have it out in the open.

congrats - this post encouraged me to put my resignation letter together.

[lollylegs]

Told my team I'm retiring at our staff meeting yesterday, they were shocked but happy for me. I've also had my holidays cancelled and I have to be on call over Christmas but essentially from now I'm just finishing up and handing work over to people. It feels good to have it out in the open.

congrats - this post encouraged me to put my resignation letter together.

You'll feel good once its all official - a weight lifted!

[boarder42]

Told my team I'm retiring at our staff meeting yesterday, they were shocked but happy for me. I've also had my holidays cancelled and I have to be on call over Christmas but essentially from now I'm just finishing up and handing work over to people. It feels good to have it out in the open.

congrats - this post encouraged me to put my resignation letter together.

You'll feel good once its all official - a weight lifted!

I've told alot of people both laterally and below me the only people who dont know are above me.  I feel i owe it to the people who will be filling some of my role when i leave and i think its not important upper management knows til i'm protected in my monetary returns i stayed this long for.

[friedmmj]

Told my team I'm retiring at our staff meeting yesterday, they were shocked but happy for me. I've also had my holidays cancelled and I have to be on call over Christmas but essentially from now I'm just finishing up and handing work over to people. It feels good to have it out in the open.

congrats - this post encouraged me to put my resignation letter together.

You'll feel good once its all official - a weight lifted!

I've told alot of people both laterally and below me the only people who dont know are above me.  I feel i owe it to the people who will be filling some of my role when i leave and i think its not important upper management knows til i'm protected in my monetary returns i stayed this long for.

So are you submitting the resignation the day after the bonus hits your account?

[boarder42]

Told my team I'm retiring at our staff meeting yesterday, they were shocked but happy for me. I've also had my holidays cancelled and I have to be on call over Christmas but essentially from now I'm just finishing up and handing work over to people. It feels good to have it out in the open.

congrats - this post encouraged me to put my resignation letter together.

You'll feel good once its all official - a weight lifted!

I've told alot of people both laterally and below me the only people who dont know are above me.  I feel i owe it to the people who will be filling some of my role when i leave and i think its not important upper management knows til i'm protected in my monetary returns i stayed this long for.

So are you submitting the resignation the day after the bonus hits your account?

5th of Jan. I have to work one day in 2022 to get another bonus so if I resign and they don't let me work til jan 5 then I lose out on that.

i'd be in the 2021 cohort if i could resign upon receipt of bonus with no monetary implications.

[Playing with Fire UK]

I'm planning giving notice around bonuses too. So it'll be notice end of February or March for a last day at the end of May or June, ready for summer. I might review if Covid spikes again.

[MisterA]

Hi everyone,

I'd like to join you, as 2022 will be my year, I haven't decided which month yet. But I can't wait!

Our numbers are  growing and I'm in the valuation region we had been targeting a few years ago. We had a minimum figure, that we have now surpassed, but I'm carrying on for a while just for peace of mind. There's no turning back, once you're gone (not for me anyway).

Our investments are spread in 60:40 type global passive funds, and I'll be needing to withdraw about 4% initially for the first 10 years, then much less.

As 2022 is approaching and the bull market rages, I'm interested in what people are doing to mitigate against any potential crash and the ensuing sequence of returns risk early in our FIRE. The obvious thing to do would be to have cash to cover (for example) 2 years worth of expenses. But, that would mean not benefiting from the potential gains of that cash if it were still in the markets, and there wasn't a crash. Or move the whole portfolio to a more conservative allocation. Neither of these options excite me.

We do have an emergency fund of about 2 years of expenses, but this is to cover things we know we will need (replacement car, home improvements, etc). I guess that in a severe crash, we could divert some of this cash - for a period of time. We have no debts.

I'm just interested to find out what others are doing, if anything, and what you think as our time approaches.

[ixtap]

Your bonds are your crash insurance, so at 60/40, you are in a good place.

[friedmmj]

Your bonds are your crash insurance, so at 60/40, you are in a good place.

+1

[TempusFugit]

Your bonds are your crash insurance, so at 60/40, you are in a good place.

+1

Well, we all like to think so, anyway.  I’m pretty nervous about the bond bubble caused by the US government pumping billions into it every month for years. Seems to me that every asset class is in a bubble, from real estate to crypto and everything in between. 
Of course that means there isn’t anything anyone can reasonably do other than spread our money around and hope for the best.

[Glenstache]

Put in the formal notice of change in status to internal consultant today, which will allow for the 2022 coast to begin. I also plan on working few enough hours by the end of the year that I went ahead and bought an ACA healthcare plan. I may have been able to finagle a way to stay on the company plan, but for the hassle and small amount saved I decided that it was not worth it. The change takes effect on 12/27, which is the first payroll week of the 2022 year. This FIRE thing is starting to feel real. I do still plan on working so it is a small RE, but will include a significant taper down to lower hours. I'm really looking forward to 2022. 

[boarder42]

Put in the formal notice of change in status to internal consultant today, which will allow for the 2022 coast to begin. I also plan on working few enough hours by the end of the year that I went ahead and bought an ACA healthcare plan. I may have been able to finagle a way to stay on the company plan, but for the hassle and small amount saved I decided that it was not worth it. The change takes effect on 12/27, which is the first payroll week of the 2022 year. This FIRE thing is starting to feel real. I do still plan on working so it is a small RE, but will include a significant taper down to lower hours. I'm really looking forward to 2022.

Congrats!

[SteadyStache]

I'm joining this group to hold myself accountable. We are FI now, but hoping to leave by EOY 2022 or when we meet 3.5% SWR . After declaring RE, we plan on taking PT jobs after a period of decompression. Can we stay in, or do I need to start a Barista FIRE 2022 cohort?

[Axecleaver]

FIRE looks different for everybody, you can stay! I found after four months I wanted some pt work.

[DaTrill]

I'm joining this group to hold myself accountable. We are FI now, but hoping to leave by EOY 2022 or when we meet 3.5% SWR . After declaring RE, we plan on taking PT jobs after a period of decompression. Can we stay in, or do I need to start a Barista FIRE 2022 cohort?

+1, was trying to maximize Trad/ROTH/ACA with mid-year RE, but employer offered YE 2022 contract and seems to be what will occur.  ACA uncertainty makes mid-year retirements a little trickier.  Having three different health insurance policies (work, Cobra or private, then ACA) in a few months doesn't seem wise if given a choice.   

[mspym]

I'm moving on over from the 2024 cohort, so TLY? My target year was fully aspirational when I set it and now it's only 20 weeks away. I might make some money here and there but I knew in my bones when signing up for my current contract that it was my last FT corporate gig.