Author Topic: 2022 FIRE cohort  (Read 86290 times)

Classical_Liberal

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Re: 2022 FIRE cohort
« Reply #350 on: August 18, 2017, 09:15:44 PM »
@ TempusFugit... Awesome!

I don't know your situation specifics, but I think your hurdle to FIRE isn't further accumulation, rather its making a few personal changes in thought processes.  For example, your current cash burn rate is about the take home pay of a median US household.  So, as a single person, you spend about as much as 2.5 average people in one of the richest, most consumerist societies in the richest time in human history.  Makes you think a little, no?  I'm not judging, I've been in the same spot. 

Generally, the progression can go something like this...  Get a bit disgusted with your spending and simply optimize (coupons for eating out, get better deals on stuff your do, reward credit cards, etc) and save 15-25% with no discernible change to your life.  Then, realize that you can actually make better choices for less spending (walk or ride bike places, eat less meat, enjoy free neighborhood social activities outdoors, de-clutter your life, ect).  Suddenly you're saving anther 15-25% from the new baseline and begin to see very large lifestyle IMPROVEMENTS.  The rabbit hole can get much deeper, but you'd be FIRE at this point alone, even on your current stash. 

If you focus on those changes (examples of them abound through this entire forum), you'd have no need for further accumulation.  Take the red pill!

Welcome!

TempusFugit

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Re: 2022 FIRE cohort
« Reply #351 on: August 19, 2017, 01:01:22 PM »
Thanks for the encouragement. "...spend about as much as 2.5 average people..."   -   I've always thought I was above average!  : )


atreechange

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Re: 2022 FIRE cohort
« Reply #352 on: September 13, 2017, 04:53:16 AM »
My wife and I are targeting Feb 2022 as our FIRE date.

Networthify currently estimates 5.5 years but we think cutting back our expenses by living in regional Australia (currently living in Sydney) will help materially.

Net assets are currently $750k with another $1m in debt across 4 investment properties. Goal is to pay off 2 properties in the next 5 years to get mortgages down to $570k.

SnufferBottle

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Re: 2022 FIRE cohort
« Reply #353 on: September 24, 2017, 01:26:58 PM »
Count me in! Planning to retire by end of 2022.

If anything I'm already ahead of schedule, I'm 28 now and plan to be retired by 33. If I continue to find RE deals at same CoC ROI as my first two then it'll be closer to 2020 :P

TempusFugit

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Re: 2022 FIRE cohort
« Reply #354 on: September 30, 2017, 04:38:56 PM »
So, 2022 cohortians,  is there anything specific that you are doing now to make this date a reality? Something like trying to get to a specific saving rate goal this year, or trying to reduce your spending this year to match your projected FIRE spending number? 

I am working to reach a 50% savings rate.  September is not helping my averages, unfortunately, because of some unexpected expenses ($1K for car repair and $400 vet bill for my furry roommate).  I also purchased a bicycle, which is a good thing to do, but still a drag on my monthly numbers.  But I'm tracking my other 'normal' expenses and seeing how they look relative to previous months.

I've set up another auto invest for my taxable vanguard account (VTSAX).   I'm also making some smallish adjustments to my spending, specifically working on my restaurant budget.  I'm taking an incremental approach and 'nibbling at the edges' so to speak, in an attempt to reduce my spending in ways that don't really reduce my enjoyment. 

My annual raise should be next month, so I'll take a look at the numbers and see what adjustments I need to make to the 401K contributions to be sure I max that out.   I'll also see how that additional income affects my savings rate, since I plan to save the entire delta.

50% is aspirational, but I think I can get pretty close and then I hope to find that extra motivation to close the gap.   

2Birds1Stone

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Re: 2022 FIRE cohort
« Reply #355 on: September 30, 2017, 08:04:40 PM »
Shooting for a 75% net savings rate, which is a bit of a stretch for me. I will likely be closer to 70%.

Playing with Fire UK

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Re: 2022 FIRE cohort
« Reply #356 on: October 02, 2017, 02:28:51 AM »
I'm shooting for a 100%* savings rate this year. My plan (which I'm slightly behind on), is to save the equivalent of my entire regular net salary from my main job. So I'm aiming to only spend money from secondary sources (which includes for my purposes bonuses, my pay rise, credit card points and my secondary income and side hustles). I have two leads on work that will give me the extra ~£3k that I need to make this happen by the end of the year.

I'm also in the process of clarifying what our spending is likely to be going forward. Our inflation / cost of living in the UK has jumped around a lot in the past year, so I expect that I'll have to increase our target amount well beyond the official inflation measures. I have an epic spreadsheet that is helping me analyse all of this.

* By my definition, which is clearly cheating a bit: you may keep any judgement about this to yourself.

homestead neohio

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Re: 2022 FIRE cohort
« Reply #357 on: October 02, 2017, 07:16:56 AM »
We've set our savings goal higher than ever before and are on track to save that amount.  We did this last year as well and it was so satisfying, we just keep bumping it up.

MrThatsDifferent

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Re: 2022 FIRE cohort
« Reply #358 on: October 13, 2017, 07:46:41 AM »
Originally I was aiming for 2022, then I worked out I could probably achieve this in 2021, but now Iím back to 2022.  Whatís changed? People keep freaking me out! I keep reading about people who have a shit ton of money, being scared to pull the trigger and Iím wondering, am I under-estimating everything, do I need a cushion?  2022, still has me retiring more than 15 years earlier than most and it gives me a 5 year plan to put things into action. Thatís exciting. I have definite financial goals that my guesstimates say should be reached in 2022, but if I reach them earlier, Iíll pull the trigger. So iím back here, even though 2021 is far sexier.

middo

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Re: 2022 FIRE cohort
« Reply #359 on: October 23, 2017, 02:50:29 AM »
I've crunched the numbers a few times and we should be able to FI by 2022.  RE is maybe not that accurate at 52, but with retirement age in Australia now at 67, I'm happy with the extra 15 years.  There are so many things that we have to do before then though.  Selling a property, developing another one into two, selling one (or both) of them.  And ensuring all the kids are financially viable on their own.

Sometimes it seems a big ask, but we are currently saving around 50% of income, soon to boost to 60% if things pan out the way we hope.  We are paying too much interest at the moment and working on getting rid of debt, even if it was for purchasing assets.

rachaelandthegoose

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Re: 2022 FIRE cohort
« Reply #360 on: October 24, 2017, 09:15:33 AM »
Originally I was aiming for 2022, then I worked out I could probably achieve this in 2021, but now Iím back to 2022.  Whatís changed? People keep freaking me out! I keep reading about people who have a shit ton of money, being scared to pull the trigger and Iím wondering, am I under-estimating everything, do I need a cushion?  2022, still has me retiring more than 15 years earlier than most and it gives me a 5 year plan to put things into action. Thatís exciting. I have definite financial goals that my guesstimates say should be reached in 2022, but if I reach them earlier, Iíll pull the trigger. So iím back here, even though 2021 is far sexier.

I'm right there with you! I started out with a very simple 4% calc and I keep being forced to face all the many variables that can affect things - sequence of returns risk, health care (that's the big one!), etc... We've set our sites firmly on May 2022 (coincidentally my husband's 40th birthday month as well) and have told ourselves this: Even if we don't feel 100% comfortable retiring "forever" at that point, we should have PLENTY socked away to justify a year long sabbatical, switching to part time work, and/or relocating for some geo-arbitrage. So we're sticking to 2022! :)

skip207

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Re: 2022 FIRE cohort
« Reply #361 on: November 02, 2017, 02:00:15 PM »
As the year comes to an end I am starting to review my progress.  Put around £90k on the NW so far this year which is not bad given we saved about £40k from income, the rest is growth.  If we can do the same for the next 3 years we will be just under £800k at the end of 2020 / early 2021.  Just hope brexit does not cause any wobbles...

zephyr911

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Re: 2022 FIRE cohort
« Reply #362 on: December 06, 2017, 03:14:27 PM »
Hey all,
Just checking in. I have followed both 2017 and 2022 for quite a while, as my plan was for semi-FIRE (radical life change, less work, more freedom, etc) this year, with my last day of FT work next week, but still doing reserve duty and running a business PT for a few more. Mil status gives me cheap healthcare, but I will most likely apply for retirement in late '22.
I'm 39 now, so I'll be 44 then.
How's everyone doing? Feeling good about your plans?
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

couponvan

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Re: 2022 FIRE cohort
« Reply #363 on: December 06, 2017, 03:33:12 PM »
Hey zephyr911! The FIRE tracking spreadsheet as of 11/2017 gives me 1/2022, but my plan is 4/2022.  I'm already PT, but have to save/pay for all the kids' college still. I wish we had cheap healthcare. It's the whole reason for OMY syndrome.

All plans are subject to the whims of corporate America.  I had a real scare at work this week where I was 50/50 that I would be laid off.  It turned out OK, but it really did hammer in that we need to tighten our spending to be FI sooner rather than later.  I'll be 51 at planned FIRE.
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




zephyr911

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Re: 2022 FIRE cohort
« Reply #364 on: December 07, 2017, 07:57:47 AM »
Hey zephyr911! The FIRE tracking spreadsheet as of 11/2017 gives me 1/2022, but my plan is 4/2022.  I'm already PT, but have to save/pay for all the kids' college still. I wish we had cheap healthcare. It's the whole reason for OMY syndrome.

All plans are subject to the whims of corporate America.  I had a real scare at work this week where I was 50/50 that I would be laid off.  It turned out OK, but it really did hammer in that we need to tighten our spending to be FI sooner rather than later.  I'll be 51 at planned FIRE.

Love your sig. I find my consumerist instinct suddenly resurgent as I approach a huge pay cut, like I need to get all the things now while I can afford it, but I'm doing my best to tamp that shit down so I can successfully ride out my lowest-income period in years. My startup will grow enough to pay me real money by next summer so it's not even a permanent thing... but it will be a good exercise in attitude adjustment.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Axecleaver

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Re: 2022 FIRE cohort
« Reply #365 on: December 15, 2017, 04:30:41 AM »
Currently planning for March, 2021. I got a new job that I'm enjoying, and making lots of new connections for a transition into FIRE and potentially part time work. I see OMY as the biggest risk to this timeline, because I'm having too much fun in my work right now and don't want to stop. I took over a team in crisis and managed them out of what looked like a hopeless situation to them, so I'm riding a wave of popularity at the moment. Things may be different three years from now. I will be 50 in 2021.

couponvan

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Re: 2022 FIRE cohort
« Reply #366 on: December 15, 2017, 04:58:07 AM »
Currently planning for March, 2021. I got a new job that I'm enjoying, and making lots of new connections for a transition into FIRE and potentially part time work. I see OMY as the biggest risk to this timeline, because I'm having too much fun in my work right now and don't want to stop. I took over a team in crisis and managed them out of what looked like a hopeless situation to them, so I'm riding a wave of popularity at the moment. Things may be different three years from now. I will be 50 in 2021.

I hope to avoid OMY from my FIRE date, and I will look forward to vicariously watching FIRE life through you. I think from reading journals many FIRE and then get sucked back to work at least once.
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




CharlesBronzee

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Re: 2022 FIRE cohort
« Reply #367 on: December 16, 2017, 08:10:33 PM »
Joining the club. Wife and I currently have $575k in investments. Goal is to hit $1M by end of 2022.

Goal is to FI but not necessarily RE.  Anyway, I look foward to enjoying the ride to FI/FIRE in 2022 with everyone here!

Btw, I'm 51 now so it will be freedom 56 for me!
« Last Edit: December 16, 2017, 08:12:13 PM by CharlesBronzee »

TempusFugit

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Re: 2022 FIRE cohort
« Reply #368 on: December 17, 2017, 12:24:46 PM »
Welcome aboard CB! There's always room for more.

BeardedLady

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Re: 2022 FIRE cohort
« Reply #369 on: December 22, 2017, 09:56:05 AM »
DH and I are right on track for 2022 FIRE, but there seems to be a small "problem" developing lately. We both like our jobs. I could see myself cutting to 2 or 3 days per week and being very happy. The original plan was to sell my optometry practice to my associate and retire in 2022, but lately I'm thinking about having her buy in as a partner instead. I have not discussed anything beyond partnership with her since RE would make me sound like a crazy person to my coworkers, so I wouldn't be going back on any promises to her. My husband would have a harder time convincing his school district to let him be a part-time teacher. It is not out of the question though. We are planning to have kids between now and 2022, so anything could change. Anyone else planning on FI semi-RE?


couponvan

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Re: 2022 FIRE cohort
« Reply #370 on: December 22, 2017, 01:13:41 PM »
DH and I are right on track for 2022 FIRE, but there seems to be a small "problem" developing lately. We both like our jobs. I could see myself cutting to 2 or 3 days per week and being very happy. The original plan was to sell my optometry practice to my associate and retire in 2022, but lately I'm thinking about having her buy in as a partner instead. I have not discussed anything beyond partnership with her since RE would make me sound like a crazy person to my coworkers, so I wouldn't be going back on any promises to her. My husband would have a harder time convincing his school district to let him be a part-time teacher. It is not out of the question though. We are planning to have kids between now and 2022, so anything could change. Anyone else planning on FI semi-RE?

I'm 1,560 hours per year now (with 225 hours of vacation and 70 hours of holiday time) total hours, and 1,205 actual work hours.  I'd like to be at 1,000 actual work hours per year, as I felt like that was the "happy" place for me working. Unfortunately health care is an important item for our family, so 1,560 hours is the minimum to get health care.  Full FIRE before the kids are on their own insurance is not really an option.  (2 of our kids have iritis that require significant ongoing health care.) I swear we are at the ophthalmologist every other week. If you can swing part time in your practice, I highly recommend it. 
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




2Birds1Stone

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Re: 2022 FIRE cohort
« Reply #371 on: December 23, 2017, 01:03:25 PM »
We will finish 2017 with 9.5X annual expenses.

A lot of ground to make up in the next 4 years!

mtnman125

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Re: 2022 FIRE cohort
« Reply #372 on: January 06, 2018, 12:15:03 PM »
PTF

RWD

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Re: 2022 FIRE cohort
« Reply #373 on: January 06, 2018, 07:09:14 PM »
We ended 2017 with 13X expenses in investments. Should be on track for at least FI in 2022.

Classical_Liberal

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Re: 2022 FIRE cohort
« Reply #374 on: January 07, 2018, 12:47:35 AM »
A little over 7 years expenses on rolling 12 mo average.  I'm still on track though; a) last year expenses increased by 20% for some one off's b) over 75% SR, even at last years expenses.

As time goes on, I think I'll cash in at FU and semi-FIRE or career switch before 2022.  I'm hanging out here until then though.

nereo

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Re: 2022 FIRE cohort
« Reply #375 on: January 07, 2018, 08:12:56 AM »
We ended 2017 with 13X expenses in investments. Should be on track for at least FI in 2022.
Pretty darn close to where we are.  I'm not overly optimistic at our chances at hitting the 2022 target, and its entirely based on market conditions. IMO the chance of us making it to 2022 without a recession are approaching 0.  We need to roughly double our 'stache to declare ourselves FI and for us my back-of-the-envelope calculations have roughly half coming from future savings and half from market growth.  In other words, when the SP500 breaks 4,000 and after 5 more years of contributions to our investments. The contributions we can (mostly) control.  Market response is our of our hands.

Even without a correction we'd be asking for roughly 9% returns for another 5 straight years.

We'll get there... maybe not in 2022.  In the meantime we'll keep trucking along.
"Do not confuse complexity with superiority"

skip207

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Re: 2022 FIRE cohort
« Reply #376 on: January 07, 2018, 11:35:10 AM »
At a similar stage, 14x.

I plan to have 25x by 2022.

However part of that 25x is in my pension which I cant access till 2035 ish so need to consider how I will bridge that gap..

tipster350

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Re: 2022 FIRE cohort
« Reply #377 on: January 07, 2018, 12:30:47 PM »
I'm at 15x and should make it as long as the market doesn't tank. I agree that there is a very strong possibility of recession between now and then. I'm a little older so I could retire in a down market using several years of cash which I intend to have on hand, and tap into SS at a little younger than planned. But it all depends on just how bad a downturn we are in. Hoping not to have to work past 2022.

Baboo

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Re: 2022 FIRE cohort
« Reply #378 on: January 07, 2018, 02:15:21 PM »
I believe this is my home.  I began working at my State government job at the age of 19, and will have my 30 years at age 49.  Retirement date 12/31/2022.   Woot!

TempusFugit

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Re: 2022 FIRE cohort
« Reply #379 on: January 07, 2018, 02:20:06 PM »
I'm pretty much on target for 2022 if I assume a 5% market return on average for my AA. 

That should put me at a 4% WR at my current lifestyle, which is certainly not bare bones.   Then my mortgage would only have about 5 years remaining before that expense goes away. A couple of years after that, I can start drawing a small pension that would allow me to reduce my WR by about 1% (depending on inflation, since that pension is not adjusted). 

Ladychips

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Re: 2022 FIRE cohort
« Reply #380 on: January 07, 2018, 02:45:51 PM »
Welcome Baboo!!

I can't really say what percentage I've saved since I'm relying on a pension that I won't be eligible for until 2021. But I'm feeling confident we'll make it in 2022.  But I also temper my excitement with knowing that many things could change between now and then.  Just going to keep on keeping on...

Is it premature to make the retirement list of names and dates that I see in the other cohort threads?  I love those things!!

skip207

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Re: 2022 FIRE cohort
« Reply #381 on: January 07, 2018, 03:27:38 PM »
Markets are in that "zone" which gets me worried.  Economy in general has a cold. 

That said I think we are in a new era.  Governments all over the world now know what to look for.  Stress tests are much more thorough.  A run on the banks is not likely again.  I think the fact we are already talking about it along with the fact that BoE and FED have pushed rates up with hints of further small rises tells the story that we are probably doing our best to hold it off.

The other issue is the rumblings with NK and China let alone ISIS.

nereo

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Re: 2022 FIRE cohort
« Reply #382 on: January 07, 2018, 04:23:16 PM »
I believe this is my home.  I began working at my State government job at the age of 19, and will have my 30 years at age 49.  Retirement date 12/31/2022.   Woot!

Funny, I had two close friends from the DC area who also started government jobs right out of HS.  At the time we ribbed them for being government workers and taking boring but safe occupations.  Now thye're the ones who might draw a pension for 40 or even 50 years.  C'est la vie - in many ways they were the smart ones.



That said I think we are in a new era.  Governments all over the world now know what to look for.  Stress tests are much more thorough.  A run on the banks is not likely again.  I think the fact we are already talking about it along with the fact that BoE and FED have pushed rates up with hints of further small rises tells the story that we are probably doing our best to hold it off.

Ah, so "it's different this time."  Funny that similar things were said about the economy before the 08 crash, the '01 crash, the 80s, and... Each bull market has a bunch of pundits who claim we've learned from the past and we might never have that bad a crash ever again!  And then it happens.
The next recession probably won't be triggered by any of those - it'll be something slightly different.
Just my 2Ę.
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middo

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Re: 2022 FIRE cohort
« Reply #383 on: January 07, 2018, 04:58:15 PM »
We are at 19◊, but the majority is in property which has lower returns in Australia.  Currently saving close to 60%, which is helping.  2022 should he achievable with some changes to our investments over the next couple of years.

Baboo

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Re: 2022 FIRE cohort
« Reply #384 on: January 07, 2018, 05:44:28 PM »
I believe this is my home.  I began working at my State government job at the age of 19, and will have my 30 years at age 49.  Retirement date 12/31/2022.   Woot!

Funny, I had two close friends from the DC area who also started government jobs right out of HS.  At the time we ribbed them for being government workers and taking boring but safe occupations.  Now thye're the ones who might draw a pension for 40 or even 50 years.  C'est la vie - in many ways they were the smart ones.


Yep, I heard some ribbing from people at the time, too.  In high school, I fell into the "I have zero idea of what I want to do" camp.  Both of my parents worked for the State and it just seemed like a good idea at the time.  I began in an entry level clerical position and worked my way into the HR classification series.  Today, I'm the HR Director at a State facility and am grateful to have had those doors open to me along the way, despite not having a formal education.  Each October, when I look at my pension statement, I'm in awe of that monthly figure, not to mention the health benefits package. 

DirtDiva

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Re: 2022 FIRE cohort
« Reply #385 on: January 09, 2018, 07:11:40 AM »
Hi, everyone.  I'm throwing my hat in the ring for 2/2/2022.   We will probably both go part-time at that point if we can work it out, to keep health insurance and because we both enjoy our jobs. I'll be 57, hubs 58. 

It might happen sooner, but solid goals are helpful to me (and I like numbers too,  so I'm stealing 2-2-22 as our date).

It's exciting! though we are fortunate that our lives are pretty awesome on a day-to-day basis.

I like the idea of having pre-tirement preparations...going off to look at Jon Snow's journal.
Serenity now!

nereo

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Re: 2022 FIRE cohort
« Reply #386 on: January 09, 2018, 07:31:36 AM »
Hi, everyone.  I'm throwing my hat in the ring for 2/2/2022.   We will probably both go part-time at that point if we can work it out, to keep health insurance and because we both enjoy our jobs. I'll be 57, hubs 58. 

I like the idea of 2/2/22 :-)
We're also pushing forward with the idea of going part time at or slightly before that time, both for the reasons you mentioned (health care + we enjoy our jobs) as well to have a better work/life/family balance. We're fine taking the 'glide path' into total retirement, and by then market gains (or losses) will far outstrip any annual contributions.
here's to hoping it all goes smoothly!
"Do not confuse complexity with superiority"

ronsbusa3

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Re: 2022 FIRE cohort
« Reply #387 on: January 09, 2018, 04:32:02 PM »
Hi, everyone.  I'm throwing my hat in the ring for 2/2/2022.   We will probably both go part-time at that point if we can work it out, to keep health insurance and because we both enjoy our jobs. I'll be 57, hubs 58. 

It might happen sooner, but solid goals are helpful to me (and I like numbers too,  so I'm stealing 2-2-22 as our date).

It's exciting! though we are fortunate that our lives are pretty awesome on a day-to-day basis.

I like the idea of having pre-tirement preparations...going off to look at Jon Snow's journal.

Count us in also for 2-22-22.. We hope to go sooner but itís nice having a goal date. Why not a memorable one like 2-22-22

Classical_Liberal

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Re: 2022 FIRE cohort
« Reply #388 on: January 09, 2018, 11:48:01 PM »
I think it's hilarious that we have so many threads with micro analysis of WR's, AA's, OMY, ect. 

Then a cool date comes along, like 2/22/22, and all that shit goes out the window, cause who wouldn't want to FIRE on that date?!  I forget how much I like this forum.

middo

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Re: 2022 FIRE cohort
« Reply #389 on: January 10, 2018, 05:13:32 AM »
I think it's hilarious that we have so many threads with micro analysis of WR's, AA's, OMY, ect. 

Then a cool date comes along, like 2/22/22, and all that shit goes out the window, cause who wouldn't want to FIRE on that date?!  I forget how much I like this forum.

Just decided. Ready or not I retire on Feb 22 2022.  I'm a maths tracher, so this is perfect.

TempusFugit

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Re: 2022 FIRE cohort
« Reply #390 on: January 10, 2018, 07:33:15 AM »
I think it's hilarious that we have so many threads with micro analysis of WR's, AA's, OMY, ect. 

Then a cool date comes along, like 2/22/22, and all that shit goes out the window, cause who wouldn't want to FIRE on that date?!  I forget how much I like this forum.

Good observation.   I was also tempted by the nice numbers.  22 was the number on my dirt bike when I was 10 and it's always been a favorite of mine.  So when folks started pointing out the cool opportunity to pick 2/2/22, I did think about it for a second.  Funny how irrational we are. 

nereo

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Re: 2022 FIRE cohort
« Reply #391 on: January 10, 2018, 09:53:51 AM »
I think it's hilarious that we have so many threads with micro analysis of WR's, AA's, OMY, ect. 

Then a cool date comes along, like 2/22/22, and all that shit goes out the window, cause who wouldn't want to FIRE on that date?!  I forget how much I like this forum.
We bought our house at 12pm on 12/12/12.  When we did a ReFi last November the banker asked if we wanted to shift our payment date to the beginning or end of hte month.  Hell no!  No mathematical reason, but I like it.  Just like I like the idea of declaring our FI on 2/22/22.
You can't change the date, but you can change your FI number :-)
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couponvan

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Re: 2022 FIRE cohort
« Reply #392 on: January 12, 2018, 09:46:59 AM »
I think it's hilarious that we have so many threads with micro analysis of WR's, AA's, OMY, ect. 

Then a cool date comes along, like 2/22/22, and all that shit goes out the window, cause who wouldn't want to FIRE on that date?!  I forget how much I like this forum.

Good observation.   I was also tempted by the nice numbers.  22 was the number on my dirt bike when I was 10 and it's always been a favorite of mine.  So when folks started pointing out the cool opportunity to pick 2/2/22, I did think about it for a second.  Funny how irrational we are. 

The rational me says that for a guaranteed $8K I will make my FIRE date 2 months later....4/2/22. (I vest in matching contributions on 4/1/22.) When I say FIRE date is 4/2/22, it's the date I will turn in notice. I wouldn't put it past my company to let me walk out the same date I turned in the notice and then I'd lose the $8K. I guess my actual FIRE date will be 4/22/22 with 3 weeks notice. How's that for working the numbers? :-) It will either be 4/2/22 if they walk me out, or 4/22/22 if they take the 3 weeks.
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




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Re: 2022 FIRE cohort
« Reply #393 on: January 17, 2018, 11:07:02 AM »
Hello everyone! I'd like to officially join the class of 2022 (I like the sound of that year). I'm currently 44 years old with about 1.4 million in investments/ savings (brokerage account, annuity, 401k, checking and savings accounts). I'd like to have between 1.75 to 2.25 million when I retire sometime during 2022. I think it's doable and Firecalc gives me a 100% chance of success. Looking forward to interacting with you all and to our "graduation" in 4 (hopefully short) years!

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Re: 2022 FIRE cohort
« Reply #394 on: January 17, 2018, 02:07:38 PM »
Hello everyone! I'd like to officially join the class of 2022 (I like the sound of that year). I'm currently 44 years old with about 1.4 million in investments/ savings (brokerage account, annuity, 401k, checking and savings accounts). I'd like to have between 1.75 to 2.25 million when I retire sometime during 2022. I think it's doable and Firecalc gives me a 100% chance of success. Looking forward to interacting with you all and to our "graduation" in 4 (hopefully short) years!

Welcome!!  You're in the right place. You should also join the "Race from $1M to $2M" thread. :-)
Why the hell are we going shopping? Buy sh*t, return other sh*t, go through sh*t and donate sh*t. Complain about having too much sh*t. Repeat. (Bracken Joy 2/17)




beeboy

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Re: 2022 FIRE cohort
« Reply #395 on: January 17, 2018, 02:33:21 PM »
Hello everyone! I'd like to officially join the class of 2022 (I like the sound of that year). I'm currently 44 years old with about 1.4 million in investments/ savings (brokerage account, annuity, 401k, checking and savings accounts). I'd like to have between 1.75 to 2.25 million when I retire sometime during 2022. I think it's doable and Firecalc gives me a 100% chance of success. Looking forward to interacting with you all and to our "graduation" in 4 (hopefully short) years!

Welcome!!  You're in the right place. You should also join the "Race from $1M to $2M" thread. :-)

Thanks Couponvan. I'll join that thread as well. Can't wait to achieve FIRE!

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Re: 2022 FIRE cohort
« Reply #396 on: January 17, 2018, 04:41:22 PM »
I will join the class of 2022. We will certainly never have to work again starting that year but I am unsure if I will fully RE then. A lot will change in a few years. I currently enjoy what I do quite a bit, but dislike the rigid working hours. I'm looking forward to being able to do whatever I want to!

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Re: 2022 FIRE cohort
« Reply #397 on: January 31, 2018, 07:22:44 AM »
Hi, everyone.  I'm throwing my hat in the ring for 2/2/2022.   We will probably both go part-time at that point if we can work it out, to keep health insurance and because we both enjoy our jobs. I'll be 57, hubs 58. 

It might happen sooner, but solid goals are helpful to me (and I like numbers too,  so I'm stealing 2-2-22 as our date).

It's exciting! though we are fortunate that our lives are pretty awesome on a day-to-day basis.

I like the idea of having pre-tirement preparations...going off to look at Jon Snow's journal.

So, after actually running the cfiresim calculator we are reluctantly (hah!) giving up the 2/22/22 goal and are planning to cut back to 3 days a week in January 2020.  Due to my cancer history we may not fully retire until we have access to Medicare (2026).  We both enjoy our jobs, so that's a-ok.

I guess I just skipped a couple of grades. 
Serenity now!

nereo

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Re: 2022 FIRE cohort
« Reply #398 on: January 31, 2018, 07:28:24 AM »
Hi, everyone.  I'm throwing my hat in the ring for 2/2/2022.   We will probably both go part-time at that point if we can work it out, to keep health insurance and because we both enjoy our jobs. I'll be 57, hubs 58. 

It might happen sooner, but solid goals are helpful to me (and I like numbers too,  so I'm stealing 2-2-22 as our date).

It's exciting! though we are fortunate that our lives are pretty awesome on a day-to-day basis.

I like the idea of having pre-tirement preparations...going off to look at Jon Snow's journal.

So, after actually running the cfiresim calculator we are reluctantly (hah!) giving up the 2/22/22 goal and are planning to cut back to 3 days a week in January 2020.  Due to my cancer history we may not fully retire until we have access to Medicare (2026).  We both enjoy our jobs, so that's a-ok.

I guess I just skipped a couple of grades.
So sorry for your sacrifice.  I hope you can find something to do in the 25 extra months of added free time.
That's over one hundred consecutive 5-day weekends.  Rough.
:-)
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Re: 2022 FIRE cohort
« Reply #399 on: February 10, 2018, 05:10:51 PM »
Alrighty, so how's everyone's nerves this week?   Any bets for how next week will go? I'm gonna say next week we shed another 2%. 

I'm generally unperturbed by it so far, thankfully. My asset allocation is relatively conservative at 70/30.  Even more conservative when I consider that around 8% of my NW is cash balance pension and money market. I bet if I ran the numbers, I would find that I've still missed out on some gains by being this conservative just over the past year. 

I moved a big chunk of cash into the market last year, having let it sit whilst waiting for the big drop.  Yes, I was trying to time the market.  I repent.  I found the MMM resources only last spring and have now educated myself.  I said my Hail Marys and swore to go forth and not try to market time again.  My investments are automatic and I'm not planning to change anything.

I wouldn't be shocked by the market continuing to move lower over the coming weeks, but hopefully nothing dramatic. A few down weeks or even months should give us the chance to confirm our asset allocation and risk tolerance.  It would also give people a chance to buy in at some lower valuations.

I've been hoping for a correction because it's part of a healthy market cycle.  I'm old enough to remember the great recession markets, and of course this is nothing like that at this point.  The numbers that the media splash across the screen against a blood red background are meant to be scary. They want us to be scared.  That brings the eyeballs and the ad dollars.  Using the point drops rather than percentage drops is part of that strategy, I'm convinced.

2022 is far enough down the road that I think the healthy and logical view for us is that some normal corrections and maybe even a (short) period of a bear markets would only serve to re-enforce that we are not in any 'special' or 'unique' time for investors, but that our planning which is based on decades of past market behavior is still valid.