Author Topic: 2022 FIRE cohort  (Read 59394 times)

cheddarpie

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Re: 2022 FIRE cohort
« Reply #50 on: September 16, 2015, 10:50:00 PM »
I'm also looking about 7 years out. I haven't run the specific numbers carefully and it will depend on some anticipated/hoped for job transitions, but should be doable. I love 2-2-22 ... that wasn't my goal before but it is now!

Also I second the idea for Bend or Bellingham, or other parts of the Northwest like Olympia, or if you want more sunshine, Sequim.

countdown

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Re: 2022 FIRE cohort
« Reply #51 on: September 17, 2015, 09:47:12 AM »
Still plugging along. Loving the market correction since I'm still a buyer rather than a seller and excited that due to some family rearrangement (cheaper option for preschool), not only is this the first year we max the 401(k) and both IRAs, we'll also have enough to start a 529 for DD1. Our biggest hurdle is boredom. Plugging away for the next 6.5 years sounds almost as bad as the next 20/30 yrs, just because both numbers seem so far away. Lately, I've been leaning toward taking a sabbatical in 2017 and possibly going PT after that to cash flow expenses while letting my mini-stache grow.

Cadman

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Re: 2022 FIRE cohort
« Reply #52 on: September 17, 2015, 04:32:17 PM »
I'm glad I caught this thread! I haven't talked too much about our FI plans but my goal is also end of 2021 (the DW may carry on a year or two more), which'll put me at 20 years with the company and a ripe old age of 40 (kinda hurts to say that). Of course I'd be coming right into an Iowa winter so maybe I'll power through to the spring.

Until then we'll be going nuts stashing, saving and investing, but it just seems like it's so far off. On the other hand you don't want to wish your life away. It sure would have been nice to discover MMM a few years ago!

2Birds1Stone

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Re: 2022 FIRE cohort
« Reply #53 on: September 26, 2015, 10:13:20 AM »
Looks like we got a nice group shooting for 2022!

Technically we have 6 years and 3 months left till the start of 2022, which in the grand scheme of things is not that long!

Will be great to see everyones progress over the years, I'm behind many of you shooting for this date......but never was one to shy away from a challenge.
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zephyr911

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Re: 2022 FIRE cohort
« Reply #54 on: September 27, 2015, 01:07:30 PM »
I'm in.

2022 is my earliest possible (and most likely) Air National Guard retirement date. I expect to reach FI earlier but I'm committed to reaching 20 for several reasons - personal ones, as well as padding the safety margin.

So, '22 should be the end of my last wage-earning job. I'll be 44 and hopefully enjoying casual self-employment thereafter.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

cheddarpie

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Re: 2022 FIRE cohort
« Reply #55 on: September 30, 2015, 11:43:50 AM »
I'm curious, other than FIREcalc, what other tools do you guys use to calculate your FIRE date? Are you doing calculations on your own assuming certain savings and growth rates, or are there specific tools out there or tricks of the trade that I should know about? 

My target it date is, at this point, pretty non-scientific. I know how much I save, how much I hope to keep earning, and what general market trends might be, but I'd love any tips on more-better-easier-accurate ways to do this. Thanks!

2Birds1Stone

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Re: 2022 FIRE cohort
« Reply #56 on: September 30, 2015, 12:07:59 PM »
I'm curious, other than FIREcalc, what other tools do you guys use to calculate your FIRE date? Are you doing calculations on your own assuming certain savings and growth rates, or are there specific tools out there or tricks of the trade that I should know about? 

My target it date is, at this point, pretty non-scientific. I know how much I save, how much I hope to keep earning, and what general market trends might be, but I'd love any tips on more-better-easier-accurate ways to do this. Thanks!

I have an elaborate excel spreadsheet.
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zephyr911

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Re: 2022 FIRE cohort
« Reply #57 on: September 30, 2015, 12:56:07 PM »
I have more than one elaborate Excel sheet ;)

I plan to rely on two PT jobs I already have, two rentals, and my 1/3 share in an LLC that is currently buying rentals and will pay out all profits starting ~4 years from now, leaving TSP/IRA for the safety margin. To model this phased approach, I've tried several different structures. I'm not sure I've settled on one yet, but I enjoy the experimentation.

My latest sheet shows revenue streams (jobs, rentals, pensions, etc) and major costs for each year, given as monthly averages, and sums up to show take-home pay after health care and debt payoffs. It also projects retirement account balances. This allows me to identify key junctures, especially low points, and analyze the effects of any changes. For example, if the low point looks too low, I can delay my ANG retirement, or stay in real estate past 2019 when my rental LLC stops buying properties (I'm our agent so it's basically free money up to that point; afterward it's more like work).

I will probably add a column for spending and use that to sum up surplus income into a taxable account balance. I may also add in SWR-based logic to show "backup" income for each year, giving me a better grasp of the safety margin.

I use present-day dollars and 4% post-inflation returns to keep things simple and conservative.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

cheddarpie

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Re: 2022 FIRE cohort
« Reply #58 on: September 30, 2015, 03:03:53 PM »
Thanks, zephyr911, that's really helpful! It's the details of the elaborate Excel spreadsheet I was interested in. :)

zephyr911

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Re: 2022 FIRE cohort
« Reply #59 on: September 30, 2015, 09:20:06 PM »
Thanks, zephyr911, that's really helpful! It's the details of the elaborate Excel spreadsheet I was interested in. :)
Hell, I'll send you a copy if you like.
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Bob W

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Re: 2022 FIRE cohort
« Reply #60 on: October 01, 2015, 12:36:52 PM »
22 works for me.    I'll be 62 and eligible for SS for myself and sub 18 son.   Yeah,  I know --- I'm not as young as most of you.   My wife will be set with a retirement plan that year and we will have investments.   Will also plan to sell out equity in house and move to a home for half the costs.   So yeah,  we may decide to continue with a gig but we should be FI with very little expenses.

Of course a lot changes in 7 years.  We could make a number of choices that would speed up or slow down the process.

The biggest thing to consider is ongoing expenses.   Housing being the biggest usually.  If retired one generally has the option to live in anyplace at a vast variance in housing prices.   
Better living through math.

cheddarpie

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Re: 2022 FIRE cohort
« Reply #61 on: October 01, 2015, 06:04:11 PM »
Hell, I'll send you a copy if you like.

zephyr911, I'd love that if you're sure you don't mind -- thank you! you can find me via cheddarpieblog at the gmail dibbity-doobittty-dot com. (I have no idea if this code language will prevent the autobots from spamming me but worth a try?)

thank you!

Playing with Fire UK

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Re: 2022 FIRE cohort
« Reply #62 on: October 02, 2015, 05:40:47 AM »
22-2-22

What a lovely number. I'm on track for 2025, at age 42 (Hitchhikers Guide), but would love to bust that down to 2022. 22 Feb is just after my birthday and a big day in Guides/Scouts so that would be epic.

Right, I'm officially inspired. No idea quite how I'm gonna bridge the gap but I'll give it a shot. Cue the new spreadsheet music.

[For clarity, I'm a mathmo and numbers geek, not a numerologist geek]

2Birds1Stone

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Re: 2022 FIRE cohort
« Reply #63 on: October 02, 2015, 06:19:49 AM »
This is shaping up to be a pretty badass group =)

Zeph, if we all can somehow manage to crack that 75% SR in the next year we are all golden. Heck that's starting from a NW of $0 too!
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zephyr911

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Re: 2022 FIRE cohort
« Reply #64 on: October 02, 2015, 06:28:38 AM »
(I have no idea if this code language will prevent the autobots from spamming me but worth a try?)

Spamming is really more of a Decepticon thing, but either way, electronic countermeasures are advised.

I should have something out this morning... just gotta strip some personal details ;)

This is shaping up to be a pretty badass group =)

Zeph, if we all can somehow manage to crack that 75% SR in the next year we are all golden. Heck that's starting from a NW of $0 too!
I'd be done even sooner at 75% if I could stay put. I'm contemplating the fairly scary step of giving up nearly all my surplus income next year to chase dreams, but I have a feeling I'll rebound quickly and get back to stashing.
Plus, DW is currently enthralled with her job and saving plenty herself... we'll make it one way or another. ;)
« Last Edit: October 02, 2015, 07:32:53 AM by zephyr911 »
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

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Re: 2022 FIRE cohort
« Reply #65 on: October 02, 2015, 04:13:03 PM »
Count me in for 2022👍

countdown

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Re: 2022 FIRE cohort
« Reply #66 on: October 02, 2015, 07:50:30 PM »
It's so inspirational to know that I'm not the only one going after this. Sometimes, 6.5 more years seems unbearably far away when I have enough saved now to go for 3 years without working if I just go for immediate gratification.

On the other hand, it's easy to say, well, I'll just do "x" to make it more bearable. The trick seems to be making "x" something free or low-cost. :) The last 2 weeks, I drove home for lunch 3x, with a cost in gas of $3/trip home. I also just built a spreadsheet titled "Through 2017" which is the date of my personal FU fund, and an unofficial title, "Making work not suck". I'm scheduling at least one and preferably two things to look forward to each week through 2017.

Am I crazy, or is anyone else doing something similar?

MMMdude

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Re: 2022 FIRE cohort
« Reply #67 on: October 02, 2015, 08:00:47 PM »
Count me into this cohort as well.  I'll be 47 in 2022.  Actually this year my dividend income surpassed my expenses.  Why aren't i retired?  Well my expenses last year were pretty bare bones - no auto replacement or house repairs so i need to save some more dough for that.  Plus our retirement will involve at least one extended trip each year so i need to save $ for that as well.  I'm getting there but it has seemed like a horrible slog lately at work.

AllieVaulter

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Re: 2022 FIRE cohort
« Reply #68 on: October 02, 2015, 10:56:50 PM »
I also just built a spreadsheet titled "Through 2017" which is the date of my personal FU fund, and an unofficial title, "Making work not suck". I'm scheduling at least one and preferably two things to look forward to each week through 2017.

What kind of events are you scheduling?  This sounds kind of fun.  Like, bike to the farmer's market?  Or take a walk through the fall-colored leaves?  I think I might try to do something similar. 

zephyr911

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Re: 2022 FIRE cohort
« Reply #69 on: October 04, 2015, 07:39:00 AM »
Count me into this cohort as well.  I'll be 47 in 2022.  Actually this year my dividend income surpassed my expenses.  Why aren't i retired?  Well my expenses last year were pretty bare bones - no auto replacement or house repairs so i need to save some more dough for that.  Plus our retirement will involve at least one extended trip each year so i need to save $ for that as well.  I'm getting there but it has seemed like a horrible slog lately at work.
Nothing wrong with running up the score. If you're already FI, why not consider tapering off? Carve out a gradually increasing chunk of time for yourself, and make a soft unemployed landing at the end.
That's my plan, starting late next year.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Seppia

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Re: 2022 FIRE cohort
« Reply #70 on: October 04, 2015, 08:22:50 AM »
It's really impossible to tell precisely, but 2022 could be a ballpark for me too.
Assumptions are an unrealistic stable 5-7% investments growth, the addition of a member to the family and similar earnings / expenses conditions as today.
If we were to experience a very big drop in the markets soon I could get there earlier.

Hell, I've been selfishly rooting for a huge crash for the last two years now but these stupid stocks keep going up :D

At least there's been the energy sector crash, so I have been doing some speculative moves in the last 12 months (basically added VGENX to my portfolio and still DCAging).

I was lucky enough to start investing just 6 months before the big 2008-09 financial crisis and to have the right advisors that helped me stay the course, but I was making peanuts at the time.
If this happened now I would throw the kitchen sink at the market lol

Digital Dogma

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Re: 2022 FIRE cohort
« Reply #71 on: October 04, 2015, 08:56:05 AM »
I love numbers so my FI date is 2-22-22. 
I'd like to become FI by 2022 as well and I thought this was a great idea since it never occurred to me that nailing down a definitive end date might just give me the motivation I need to nail it. Otherwise Id probably work till New Years Day 2023

After that Id like to work for myself, and maybe bring a friend on board.

Ill be 36 when 2022 rolls around if all goes well.

zephyr911

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Re: 2022 FIRE cohort
« Reply #72 on: October 04, 2015, 10:25:05 AM »
...and if things go poorly, will you be a different age?
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Digital Dogma

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Re: 2022 FIRE cohort
« Reply #73 on: October 04, 2015, 11:01:49 AM »
...and if things go poorly, will you be a different age?
If things go poorly someone is going to receive a hell of an inheritance :)

zephyr911

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Re: 2022 FIRE cohort
« Reply #74 on: October 04, 2015, 11:43:21 AM »
...and if things go poorly, will you be a different age?
If things go poorly someone is going to receive a hell of an inheritance :)
Oh hahahahaha... yeah.
We were just having this talk with my sisters, who are both married with kids. I let them know I'd probably leave behind enough to put a couple through college, but we'd check back in future years as it grows.
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kudy

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Re: 2022 FIRE cohort
« Reply #75 on: October 17, 2015, 11:45:00 PM »
For me, it's less about spreadsheets and precise plans, and more about having the courage to take the dive; I am hoping to be free by my 40th birthday, October 2022. Earlier would take some courage, but we'll see!

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Re: 2022 FIRE cohort
« Reply #76 on: October 18, 2015, 02:10:58 AM »
I'll be 39 in 2022 and have this as my "better" case FI date.  Its a little far out to predict numbers with any certainty.  What I do know is by that time, really before that, I will have plenty of FU money backing up my life decisions. That's a good feeling.

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Re: 2022 FIRE cohort
« Reply #77 on: October 24, 2015, 03:01:39 PM »
Signing up as a club member too! 2022 is when our youngest finishes high school, so it seems a good 'end of an era' date to shoot for.

I'm planning it all out on an Excel spreadsheet with years along the top and income/ expenses/ savings/ account balances down the side. I assume a 4% real return on equity accounts, 2% for bonds, and 0% for cash. I've got various pensions ticking in during the 2030s, gradually reducing the need to pull from capital, so am working on a 4% withdrawal rate (I'd otherwise use 3%, as I'm terribly conservative). The Lifetime Spreadsheet scrolls out to age 100; I figured if the money projections last until then, we're golden.

I've already had to use the Spreadsheet to model the result of a massive life bump, as the sole household earner lost his job this year, so we had some months of no income/ spending savings. Happily we're now back on track in a new state, with the same salary, a cheaper cost of living, and better 401k matching/ cheaper health insurance, to make up for it!

londonbanker

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Re: 2022 FIRE cohort
« Reply #78 on: October 24, 2015, 04:14:17 PM »
Count me in. My FIRE date is set for 2-2-22. I will be 42 then. I have a stretch goal to retire at 40, so 2020, but given that I will still have 2 kids (8 and 6yo) and hence big expenses ahead, as I intend to pay for their education, 2022 is therefore more likely.

Axecleaver

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Re: 2022 FIRE cohort
« Reply #79 on: November 09, 2015, 08:49:09 AM »
My date is 6/1/2022, when I will be 52. Not "early" by community standards, but I was late to the game, and currently putting a kid through college. My plan is to have her graduate debt free, which sets me back less than a year (but will give her a far larger advantage).

We're still getting our empty nest situation figured out, and we've cut our expenses by about 40% compared to last year. I'm a business owner and there is a chance things accelerate over the next seven years. If they do, I can pull the date in from where it is now. Stretch goal is to finish 9/30/2020, when a major contract we're working ends. I'm considering going part time and selling the business then, too.

kendallf

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Re: 2022 FIRE cohort
« Reply #80 on: November 09, 2015, 10:39:17 AM »
Figured I'd post here when I saw ARS' meta-thread link to these "target year" posts.  I'll be 56 in 2022, so that's the target for us right now. 

As a gov't employee I have significant "carrots" that prompt me to stay to full retirement age; an immediate pension, a supplemental pension until SS age, and continued medical coverage and the payment of the lion's share of my insurance premiums.  Right now, the job's bearable enough to keep me working that long.  Maybe.  :-)

I am in the first planning steps of looking to take an overseas position for my last few years, which would allow us to see Europe or Asia on somebody else's dime -- very attractive to us as we're basically empty nesters at this point with our youngest in college now.

One irony is that I'm saving heavily and I basically could totally give that up and be fine at retirement; our current expenditures would be more than covered by pension/SS without touching investments.  Rather than go out and buy a Corvette, I intend to continue saving with the goal of improving our lives through simplicity, broadening our options in retirement or in case of adverse events, and giving our children more options as well.
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rachael talcott

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Re: 2022 FIRE cohort
« Reply #81 on: November 10, 2015, 05:54:42 PM »
I just updated my spreadsheet, and it looks I've moved from 2024 to 2022 in the past few years.  So count me in! 

My savings strategy is based on buying distressed houses, fixing them up to get sweat equity, and then renting them out.  I have property #5 under contract right now.  My goal is to eventually get to 9.

Travelling Biologist

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Re: 2022 FIRE cohort
« Reply #82 on: November 11, 2015, 09:57:11 AM »
Unless things go really poorly, this should be my final year as well. If I am still clinging to my job by then, someone facepunch me.

rachael talcott

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Re: 2022 FIRE cohort
« Reply #83 on: November 11, 2015, 10:30:49 AM »
Quote
I'm curious, other than FIREcalc, what other tools do you guys use to calculate your FIRE date?

I like the flexible retirement planner: http://www.flexibleretirementplanner.com/wp/

But I also have several elaborate excel spreadsheets :-)


zephyr911

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Re: 2022 FIRE cohort
« Reply #84 on: November 12, 2015, 05:53:17 AM »
I am in the first planning steps of looking to take an overseas position for my last few years, which would allow us to see Europe or Asia on somebody else's dime -- very attractive to us as we're basically empty nesters at this point with our youngest in college now.
Army civilian here. Will follow your plans with interest, as it's one of the things I've considered for a long time.
Right now I'm knee-deep in building a rental portfolio so it's unlikely to work in the next couple of years, but I'd love to try later, if I'm still in service.
Quote
“In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it.”
― Robert A. Heinlein
Man, I love this line. I've been there more times than I care to admit.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Playing with Fire UK

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Re: 2022 FIRE cohort
« Reply #85 on: November 12, 2015, 08:36:13 AM »
So, bit of a milestone.

According to my current spreadsheet, if I stopped saving anything at all today, I'd still be able to retire at 58,* and continue to spend what I'm spending now, forever, without relying on any state pension.

Still some work to do on non-pension saving, but a nice feeling that my 'old age pension' years are taken care of.

*Or whatever age my government allows my to access my own pension /grumble

DividendMoney

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Re: 2022 FIRE cohort
« Reply #86 on: November 12, 2015, 09:33:09 AM »
Y’all can add me to this list… at least according to my calculations.

I’ll be 42 and DW will be 41. Annual expenses are running at $40K, including a paid off 2-year old house, which we plan to retire in.
There is room to trim the budget some. Savings rate is around 65% this year  (not including my annual bonus which is not included in any FIRE calculations)

I can’t imagine that we’ll completely quit working in 2022 because our children will be early teenagers at that time and will require orthodontic work and all of the other  teenage year expenses.  With kids in junior high school, our eventual slow travel retirement goals are not practical.

That said, the entire point of FI is to have options. Once we reach our ~3.75% SWR goal, we might take sabbaticals or ratchet down to less than full-time work with our current employers… just enough to retain benefits.  My expectation at this time is the latter.  We both scale back to just enough work to retain benefits and use the excess time to pursue other hobbies and pursuits that we may not be able to do in our later years. (Athletic/Adventure sports etc.)

Both of us enjoy our jobs… so, if it’s possible to be just scale back and maintain some pay and benefits with extra time off for other pursuits until the kids are off to college, then that seems like the ideal balance to me.

Having FI/FU Money in my back pocket will allow me to keep working on my terms and give me the leverage I need to just walk away whenever I don’t enjoy it any longer. Working at something I like, having leverage on my side, is the whole point of FI for me.
It certainly doesn’t mean I will leave an occupation that I enjoy just because my investment income exceeds my expenses.

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Re: 2022 FIRE cohort
« Reply #87 on: November 12, 2015, 11:38:45 AM »
Y’all can add me to this list… at least according to my calculations.

I’ll be 42 and DW will be 41. Annual expenses are running at $40K, including a paid off 2-year old house, which we plan to retire in.
There is room to trim the budget some. Savings rate is around 65% this year  (not including my annual bonus which is not included in any FIRE calculations)

I can’t imagine that we’ll completely quit working in 2022 because our children will be early teenagers at that time and will require orthodontic work and all of the other  teenage year expenses.  With kids in junior high school, our eventual slow travel retirement goals are not practical.

That said, the entire point of FI is to have options. Once we reach our ~3.75% SWR goal, we might take sabbaticals or ratchet down to less than full-time work with our current employers… just enough to retain benefits.  My expectation at this time is the latter.  We both scale back to just enough work to retain benefits and use the excess time to pursue other hobbies and pursuits that we may not be able to do in our later years. (Athletic/Adventure sports etc.)

Both of us enjoy our jobs… so, if it’s possible to be just scale back and maintain some pay and benefits with extra time off for other pursuits until the kids are off to college, then that seems like the ideal balance to me.

Having FI/FU Money in my back pocket will allow me to keep working on my terms and give me the leverage I need to just walk away whenever I don’t enjoy it any longer. Working at something I like, having leverage on my side, is the whole point of FI for me.
It certainly doesn’t mean I will leave an occupation that I enjoy just because my investment income exceeds my expenses.

We are in a very similar position with even younger kids. We might not be fully FI by then, but my DH wants to work longer so I may stop entirely or scale back considerably. Even if my DH retires at 55, our kids will still be home for a couple of years. Still, it would be nice to have the freedom and flexibility to do what we want with life, even if we don't get to slow travel at first.

kendallf

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Re: 2022 FIRE cohort
« Reply #88 on: November 12, 2015, 07:56:17 PM »
Can I just post a counterpoint here?  I have no retirement spreadsheet and no plans to create one!

I may have run CFiresim a time or two though..

I am in the first planning steps of looking to take an overseas position for my last few years, which would allow us to see Europe or Asia on somebody else's dime -- very attractive to us as we're basically empty nesters at this point with our youngest in college now.
Army civilian here. Will follow your plans with interest, as it's one of the things I've considered for a long time.
Right now I'm knee-deep in building a rental portfolio so it's unlikely to work in the next couple of years, but I'd love to try later, if I'm still in service.

Take a look at the various overseas living allowances.  They are extremely generous.  If you can pare your possessions down and make the move, I think the payoff is substantial.  I still have a house to sell next year, and probably a couple of years before we'd consider it, but I think it'd make an awesome way to finish out.
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faramund

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Re: 2022 FIRE cohort
« Reply #89 on: November 12, 2015, 11:55:23 PM »
Well.. first post here.

I'm targeting 1 November 2022. I teach at a university, and so then, I should finish all courses, and then have 4 months or so off teaching before I finally pull the trigger (well, and then I'll have some long service leave).

I'm a bit of a history junky.  So to help time pass. Its now
521 BC  (and counting each future day of real time, as one year.. by 2022, I'll have caught up to my no more work day. In 521 BC, Persia has recently conquered Egypt, and soon the classic Greek-Persian wars will start.

Its also 13 November 1938, so Germany has just occupied the fringe bits of Czechoslakia (and passing one day of real time for each one day of WW2, WW2 will end in 2022 a bit before I retire).

And last, 26 November 2008 is the same amount of time from now, as also the time of my no more work day..  Back then the main concern was dealing with the global financial crash.

(I have a bit ... too much time on my hands)

zephyr911

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Re: 2022 FIRE cohort
« Reply #90 on: November 13, 2015, 07:31:07 AM »
Can I just post a counterpoint here?  I have no retirement spreadsheet and no plans to create one!

I may have run CFiresim a time or two though..
Teehee. To each his own.
Quote
Take a look at the various overseas living allowances.  They are extremely generous.  If you can pare your possessions down and make the move, I think the payoff is substantial.  I still have a house to sell next year, and probably a couple of years before we'd consider it, but I think it'd make an awesome way to finish out.
Yeah, a one-time supervisor clued me in on the $$ aspect before going back to Germany, where he grew up and has come & gone his whole adult life. He's making more there, even after taking a reduction from GS-14 to 13.

My reasons aren't primarily financial, but a higher SR is never a bad thing. I only have 4 years in service and most of my retirement income will be from other sources, so the main question is whether I'll say in federal service long enough for it to be an option. One of my current COAs has me leaving at the 5-yr point to be an ANG bum and do real estate.
Semi-FIREd December 2017, part-time entrepreneur, lover of puppies and saltwater.

Travelling Biologist

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Re: 2022 FIRE cohort
« Reply #91 on: November 13, 2015, 08:33:53 AM »
Well.. first post here.

I'm targeting 1 November 2022. I teach at a university, and so then, I should finish all courses, and then have 4 months or so off teaching before I finally pull the trigger (well, and then I'll have some long service leave).

I'm a bit of a history junky.  So to help time pass. Its now
521 BC  (and counting each future day of real time, as one year.. by 2022, I'll have caught up to my no more work day. In 521 BC, Persia has recently conquered Egypt, and soon the classic Greek-Persian wars will start.

Its also 13 November 1938, so Germany has just occupied the fringe bits of Czechoslakia (and passing one day of real time for each one day of WW2, WW2 will end in 2022 a bit before I retire).

And last, 26 November 2008 is the same amount of time from now, as also the time of my no more work day..  Back then the main concern was dealing with the global financial crash.

(I have a bit ... too much time on my hands)

Neat approach to passing the time! I'm not a history buff so the past dates wouldn't make a good timeline for me, but thinking back to November 2008 does help. It doesn't seem like that long ago (though our lives have changed quite dramatically since then with the addition of two kids).

boarder42

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Re: 2022 FIRE cohort
« Reply #92 on: November 13, 2015, 08:36:20 AM »
alright i'm in ... this is in the ballpark timing of when i though i could make this happen so why not push for it ... sitting at 300k now.  7 years should be enough time to get us there.  i'll be 36.  FIRE estimates have me at 37 for super security but why not push it and join this badass group.
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forestj

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Re: 2022 FIRE cohort
« Reply #93 on: November 13, 2015, 08:47:12 PM »
Yep, I'm planning on some time around 2022 as well, I will be 30 by then. I'm aiming for about $300k. It seems like it's going to be long, but its not like life is so bad in the mean time. A small part of me worries that the world I know will crumble somehow, and my savings will disappear. I know it's irrational, but I can't help it. But even if that does happen, unless the world ends at the same time, I'm sure I'll figure something out.
« Last Edit: November 13, 2015, 11:50:50 PM by forestj »

BeardedLady

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Re: 2022 FIRE cohort
« Reply #94 on: November 17, 2015, 01:46:48 PM »
2022 is my target as well. I started with $-114,000 after professional school in 2013 (undergrad was debt-free), and I bought a private practice last year to more than double my income over being an associate. I will be making accelerated payments on the practice loan until 2020 (LOL...I'm an eye doctor). The practice is my main wealth builder, as I expect to sell it for $550-600K later on.  I am also maxing out my 401K, DH's 403B, 2 Roth IRAs (we don't qualify for traditional anymore), and an HSA. I'm not sure if I will retire completely or simply cut to part-time, but we are on track for 2022. Great to be a part of this group! Good luck (and good planning and execution) to everyone!

faramund

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Re: 2022 FIRE cohort
« Reply #95 on: December 25, 2015, 10:59:30 PM »
ok, seeing as its now at least the 26th everywhere in the world. Its only 6 more Christmases (whats the plural for Christmas) between now and FIREing!

homestead neohio

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Re: 2022 FIRE cohort
« Reply #96 on: December 30, 2015, 09:58:14 AM »
Joining as well, DW and I will be mid 40s in 2022.  Our $800k 'stache target is the driving force behind forecasting 2022, subject to change based on index performance and real life spending/saving.  We are aiming to support a 4% SWR that matches our planned ER budget.  $300k invested to date.  We use J. Money's early retirement calculator v2 spreadsheet.

PhysicianOnFIRE

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Re: 2022 FIRE cohort
« Reply #97 on: January 18, 2016, 02:06:02 PM »
Probably my earliest projected RE date.  If the markets perform better than they have the last 2 years, 2021 could be in play.  I'll have to see how I feel about my job when all financial goals have been met.

Tortoise Banker

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Re: 2022 FIRE cohort
« Reply #98 on: February 05, 2016, 04:29:23 PM »
+1

We're targeting 7/1/2022 as our FIRE date.  The day to day challenges are tough, but we stay the course.  Looking forward to reaching FI!
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couponvan

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Re: 2022 FIRE cohort
« Reply #99 on: February 09, 2016, 12:38:35 PM »
I just found this thread!

Arebelspy's "Time to FI spreadsheet" says early 2021, but it doesn't include college expenses....so December 2022 is my conservative FIRE date.

By 12/22 my last kiddo will be a Senior in high school and she should know where she's going and what scholarships (if any) she can get.

The plan is to sell our main house and rent a condo/townhome locally for the last few months until she finishes high school. I do threaten to move in with DH's parents who live local for the first five months of 2023. (Hey payback's a B**TCH....they lived with us/mooched off us for 1.5 years earlier in life). We have a FIRE house about 1 1/2 hours away we're working on fixing up right now, so we'd only be there M-Th nights. DH plans to keep working PT after FI....I plan to let him.

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