Author Topic: 2024 FIRE Cohort (Read 143084 times)

ItsALongStory · « **Reply #100 on:** June 24, 2019, 08:55:20 AM »

Nitpicking but if you mean under 1800 it's actually <1800

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techwiz · « **Reply #101 on:** June 24, 2019, 09:46:43 AM »

Quote from: ItsALongStory on June 24, 2019, 08:55:20 AM

Nitpicking but if you mean under 1800 it's actually <1800

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Thanks, I did the greater than symbol by mistake. I should have remembered the trick my 3rd grade school teacher taught the Alligator will always eat the bigger number. ;)

RWD · « **Reply #102 on:** June 24, 2019, 10:17:43 AM »

I have roughly 1900 days left as a 30-something year old. Although I am currently in the 2022 cohort I am thinking 2024 might actually end up being more likely for FIRE.

techwiz · « **Reply #103 on:** July 23, 2019, 10:11:31 AM »

1770 (MDCCLXX) days left till FIRE!

ItsALongStory · « **Reply #104 on:** July 23, 2019, 03:03:16 PM »

So there is some good and some bad news. First the bad, I am a glass half empty kind of guy after all.

I will not be staying in the workforce until 2024. The wifey and I had a great conversation and now have a plan for me to bail in 2022! That was the good news. This will mean I will have been in the us workforce for 10 years so I qualify for ss.

The 2022 timeline is only possible because we are going to be living exclusively off her retirement for 2-3 years before we sell our property here and start drawing down from an investment account seeded with the proceeds of that sale. In the meantime my grossly underfunded retirement stash will continue to grow untouched for 10+ years putting me at a nice fire number of $1-1.5m in todays dollars when I may potentially start drawing down.

I am super fortunate that my wife is on board with this plan, it will offer us an opportunity to spend as much time together as possible while she is still in good health. There is a large age gap between us so it's a reality for us that we just don't have the luxury of time.

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Hvillian · « **Reply #105 on:** July 23, 2019, 03:32:45 PM »

Quote from: ItsALongStory on July 23, 2019, 03:03:16 PM

I am super fortunate that my wife is on board with this plan, it will offer us an opportunity to spend as much time together as possible while she is still in good health. There is a large age gap between us so it's a reality for us that we just don't have the luxury of time.

I just want to wish you well. I am always happy to see people have productive conversations with their spouses, especially when you both end up on the same page.

Also always happy to lose people from the cohort because they've bumped up their timeline. Best of luck.

ItsALongStory · « **Reply #106 on:** July 23, 2019, 06:53:23 PM »

Thank you!

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techwiz · « **Reply #107 on:** September 05, 2019, 10:32:23 AM »

After being stuck in a long painful meeting I felt the urge to check how many days I have left.
1726 days left!

On the bright side there are 247 weeks left which means 494 days of those days will be the weekends. There will be also be about 40 stat holidays during that time too, plus vacation days.... I am sure it will fly by!

techwiz · « **Reply #108 on:** September 16, 2019, 02:17:00 PM »

Interesting fact for us in the 2024 FIRE Cohort:
Year 2024 is a leap year, with 366 days also called intercalary year or bissextile year.

There are two extra calendar days to my FIRE date due to the leap year 2020 and 2024.....

PathtoFIRE · « **Reply #109 on:** September 16, 2019, 03:03:27 PM »

If you get paid biweekly or hourly, you're (probably) getting paid for those two extra days. If you get paid monthly (like me in my new job), you don't :(

techwiz · « **Reply #110 on:** September 16, 2019, 03:52:12 PM »

Might be a good reason to call in sick on Feb 29, tell HR you have a Phobia of leap years! ;)

snuka · « **Reply #111 on:** September 22, 2019, 12:47:25 PM »

I'm currently planning on 1/1/2024 at which time I will be 54 years old and hopefully have invested assets of $1 million. That should safely get me $3,200 per month to live on. If I do OMY x 2, I would be able to draw down $4,000 per month but I'm trying not to think about that. :)

techwiz · « **Reply #112 on:** September 23, 2019, 07:20:00 AM »

Welcome to the cohort Snuka.

Blahhhh456 · « **Reply #113 on:** September 30, 2019, 08:25:11 PM »

I am jumping ship from the 2024 cohort. I am taking a mini-retirement in 40 days!! We are off to Europe for a few months or years... depending how we like the slow travel life. While we are certainly not ready for full time RE, it helps we are FI and can take a break for a bit. Have started a blog and hope to vlog on YouTube of our slow travels with a toddler, dog and cat :)

So excited, now I just need to quit the job and sell the vehicles :)

techwiz · « **Reply #114 on:** October 01, 2019, 10:51:59 AM »

Wow, that sounds like a cool adventure... all the best!

RWTL · « **Reply #115 on:** October 01, 2019, 04:07:37 PM »

Post to follow...I'm in the 2023 cohort right now.

techwiz · « **Reply #116 on:** October 16, 2019, 11:40:36 AM »

1685

FIRE

OurTown · « **Reply #117 on:** October 18, 2019, 08:44:31 AM »

Save me a seat, I may OMY into this one.

Blissful Biker · « **Reply #118 on:** October 23, 2019, 10:19:39 AM »

I'm on the slow cruise into FIRE having downshifted to part time work a few years ago. But I am happy with the decision and the balance between enjoying today and enjoying the future. Still on track for the end of 2024, when I'll be 52.

techwiz · « **Reply #119 on:** October 23, 2019, 10:43:33 AM »

Welcome Blissful Biker.

I really like the idea of downshifting and slow cruising to the finish line. It's something I thought about even if it ment adding more years to the FIRE date. I think the extra transition time and getting to have a better work/life balance today would be worth it.

Blissful Biker · « **Reply #120 on:** October 24, 2019, 12:33:33 PM »

Thanks techwiz. Yes, my stash is doing the heavy lifting now. Even if I was working full time the market growth of my stash would far exceed my new contributions, so it seemed like a good time to structure a fabulous lifestyle around PT work. I recommend it. So glad to have the time with my kids while they still want to hang out with me. :)

techwiz · « **Reply #121 on:** December 03, 2019, 08:14:16 AM »

My FIRE Countdown:

4.5 years
Or only
234 weeks
Or only
1638 days

dcarroll · « **Reply #122 on:** December 05, 2019, 06:56:18 PM »

This is our most likely year to reach FI! Excited about all the future possibilities.

techwiz · « **Reply #123 on:** January 09, 2020, 07:15:40 AM »

Days left!

Blissful Biker · « **Reply #124 on:** January 10, 2020, 01:36:25 PM »

About 1760ish days for me, but I prefer to think of it in months. I have a mere 59 monthly reports still to write. Easy Peasy.

techwiz · « **Reply #125 on:** January 10, 2020, 01:55:02 PM »

Quote from: Blissful Biker on January 10, 2020, 01:36:25 PM

About 1760ish days for me, but I prefer to think of it in months. I have a mere 59 monthly reports still to write. Easy Peasy.

That is a great number to track... they make us do weekly reports per project here, so my reports count seems less appealing than yours.

I am keeping track of my countdown in the corner of my whiteboard in my cubicle. A couple of co-workers have seen it and don't think it is real, or don't care since it's still years away. The tracking of weeks might be the best number 228 weekends left. Have a good weekend, after another 228 I can be on permeant weekend!

Nangirl17 · « **Reply #126 on:** January 30, 2020, 02:10:06 PM »

I love all the countdown numbers!

For some reason, RE seems closer this month, now that we're in the 2020s!

Personal update: for various reasons (including my new niece - YAY!) I'm taking a sabbatical for a year, and this will give me a good estimate of what expenses will be in retirement, which will help our planning. Although before I left, work was going really well, with a good call schedule and I was finding a good balance and enjoying my job again... so maybe I'll work longer and save or donate or travel more? I'm excited to see how it unfolds, and have gotten to the place that I feel freedom to do whatever (like take a sabbatical!).

techwiz · « **Reply #127 on:** January 30, 2020, 02:22:17 PM »

Quote from: Nangirl17 on January 30, 2020, 02:10:06 PM

I love all the countdown numbers!

For some reason, RE seems closer this month, now that we're in the 2020s!

Personal update: for various reasons (including my new niece - YAY!) I'm taking a sabbatical for a year, and this will give me a good estimate of what expenses will be in retirement, which will help our planning. Although before I left, work was going really well, with a good call schedule and I was finding a good balance and enjoying my job again... so maybe I'll work longer and save or donate or travel more? I'm excited to see how it unfolds, and have gotten to the place that I feel freedom to do whatever (like take a sabbatical!).

A sabbatical year sounds amazing! Enjoy

techwiz · « **Reply #128 on:** April 03, 2020, 02:10:14 PM »

Only

days until fire!

rmorris50 · « **Reply #129 on:** April 03, 2020, 05:11:13 PM »

New member here, planning to FI in June 2024 when I turn 50! Was thinking I could now, but want to give time for pandemic to settle and let investments recover.

techwiz · « **Reply #130 on:** April 05, 2020, 01:31:30 PM »

Welcome to the 2024 cohort rmorris50.

I think it is safe to say that the current pandemic should be over by 2024. One positive thing to think about, is these lower prices are beneficial for us that are still building our staches. We are buying stocks on sale!

I think reading some of the comments in the 2020 cohort are very informative. Just in case there is a situation which affects the markets in 2024 this cohort will be in the same position that they are in now.

techwiz · « **Reply #131 on:** April 17, 2020, 04:38:43 PM »

Days Left!

This number reminds me of another Blogger Mr1500
https://www.1500days.com/start-here/

RWD · « **Reply #132 on:** April 17, 2020, 07:48:27 PM »

Still feels so far away. Probably because I have no idea where we will be living in 2024.

techwiz · « **Reply #133 on:** May 27, 2020, 09:28:14 AM »

to my FIRE date!

I must admit that I have been tracking this countdown more closely than maybe is considered healthy. ;)

4 Years = 48 Months = 35,040 hrs = 2,102,400 Mins = 126,144,000 secs

OurTown · « **Reply #134 on:** June 19, 2020, 10:26:07 AM »

Put me down for Feb. 1, 2024.

Travis · « **Reply #135 on:** June 28, 2020, 11:07:00 PM »

Quote from: Travis on November 12, 2015, 01:49:31 AM

I could be 2023 or as early as 2020, it all depends on when the Army tells me it's time to go. Doing some quick math, if the Army lets me stay until 20 years as an O-5 I'll have a pension of around $52k. If I don't get promoted and they make me leave at 17-18 years (and they're still allowing prorated pensions) my pension will be around $37k. Right now I have a portfolio of around $500k. Assuming I will have a comfortable FIRE at $60k/year (what I currently live on now), I would need a portfolio of $200k-$600k to make up the difference. If we don't have a crash in the near future I'll have that in a couple years. My wife just started working this year too. It's not much, but it shaves a few months off. We'll be 40 or 43 in those scenarios.

Uncle Sam told me this week that I will retire at my present rank no later than 31 Dec 2023 with a pension worth between $50k-$55k/year. I could retire as early as Jan 2023 to receive my pension, but most likely it'll be June or later for my son to finish out that school year. I'm still going to consider myself FIRE Class of '24.

The next three years can be chopped up so: one more year in my current assignment, two to two and a half years in the next one, and the last half of that time will be spent preparing for retirement. That almost feels like it's around the corner instead of some nebulous future date.

Travis · « **Reply #136 on:** June 28, 2020, 11:10:04 PM »

Quote from: RWD on April 17, 2020, 07:48:27 PM

Still feels so far away. Probably because I have no idea where we will be living in 2024.

I know the feeling. We have it narrowed down to two locations, and both have financial and personal pros/cons pulling both ways.

OurTown · « **Reply #137 on:** June 30, 2020, 11:50:12 AM »

We are also considering relocating after we FIRE. I think we would both like a change of scenery. Hopefully I can make the money part work out. I suspect we will stay put for about a year and then decide whether to move, that way we can adjust to the lifestyle change before we really choose what we want.

techwiz · « **Reply #138 on:** July 27, 2020, 06:05:21 AM »

Only

Days Until FIRE!

Only 200 more work weeks before I get to take a permanent weekend from my career. The financial part and date for my FIRE plans are pretty stable and I should be able to cruise through the next 1400 days. Some days it seem so far away, but when looking back time sure does fly.

Hope everyone in the 2024 Cohort is hanging in there and doing well.

Cheers!

Blissful Biker · « **Reply #139 on:** July 27, 2020, 03:14:34 PM »

I'm a few months behind you techwiz. I've been thinking I'll pull the pin at the end of 2024 based on 4% rule math.

But today I was reading this article https://www.forbes.com/sites/robertberger/2020/07/26/5-safe-ways-to-boost-the-4-rule-of-retirement-spending/#639bb3bbb2c6 and it is making me think that perhaps the risks of retiring before I reach 4% SWR might be manageable. Hmm, tempting.

But I also see doom and gloom articles about why we should be planning for 3% SWR rates based on the CAPE ratio, current bond returns and long term covid impacts. So perhaps I should just stay the course and plan for 4%.

techwiz · « **Reply #140 on:** July 28, 2020, 04:42:50 PM »

Quote from: Blissful Biker on July 27, 2020, 03:14:34 PM

I'm a few months behind you techwiz. I've been thinking I'll pull the pin at the end of 2024 based on 4% rule math.

But today I was reading this article https://www.forbes.com/sites/robertberger/2020/07/26/5-safe-ways-to-boost-the-4-rule-of-retirement-spending/#639bb3bbb2c6 and it is making me think that perhaps the risks of retiring before I reach 4% SWR might be manageable. Hmm, tempting.

But I also see doom and gloom articles about why we should be planning for 3% SWR rates based on the CAPE ratio, current bond returns and long term covid impacts. So perhaps I should just stay the course and plan for 4%.

It's hard to know if going earlier at a higher SWR or later with a lower SWR is the right choice. I am sure no matter which one you choose there will always be the "What if?" factor. I believe the keys are to be flexible and adaptable.

Blissful Biker · « **Reply #141 on:** July 30, 2020, 12:26:37 PM »

Quote from: tyd450 on July 28, 2020, 01:51:14 PM

Quote from: Blissful Biker on July 27, 2020, 03:14:34 PM
I'm a few months behind you techwiz. I've been thinking I'll pull the pin at the end of 2024 based on 4% rule math.

But today I was reading this article https://www.forbes.com/sites/robertberger/2020/07/26/5-safe-ways-to-boost-the-4-rule-of-retirement-spending/#639bb3bbb2c6 and it is making me think that perhaps the risks of retiring before I reach 4% SWR might be manageable. Hmm, tempting.

But I also see doom and gloom articles about why we should be planning for 3% SWR rates based on the CAPE ratio, current bond returns and long term covid impacts. So perhaps I should just stay the course and plan for 4%.

That Michael Kitces guy they reference in your Forbes article did a really great podcast with the mad fientist, definitely check it out if you haven't heard it yet

https://www.madfientist.com/michael-kitces-interview/

Thanks! I will definitely give it a listen.

And I agree techwiz, there's no way to know for sure what the right answer is for SWR. Flexibility, adaptability and knowing your own risk tolerance are key.

OurTown · « **Reply #142 on:** August 06, 2020, 08:41:28 AM »

We just hit $700k invested which is a milestone on our journey. Total net worth is mid 800s. I want to reach $1m invested and align a few stars before I pull the trigger on FIRE.

techwiz · « **Reply #143 on:** August 06, 2020, 10:02:00 AM »

Quote from: OurTown on August 06, 2020, 08:41:28 AM

We just hit $700k invested which is a milestone on our journey. Total net worth is mid 800s. I want to reach $1m invested and align a few stars before I pull the trigger on FIRE.

Congrats on reaching that milestone.

It is good to see people reaching new milestones again. The stock market has given us a wild ride this year so far. I was sure it was going to take longer for it to recover after the big drop.

Edwards · « **Reply #144 on:** August 14, 2020, 07:18:09 PM »

I am planning to retire (or at least be FI and quitting my full-time job in 2024).
Have been secretly planning it for years but don't have many people to share it with though because I'll be slowing down sooner than my friends and family.

Hopefully, all of our hard work goes as planned and we (everyone in this thread) can get out in 2024!
I'd wish you all luck, but hard work is what got us here.

Blissful Biker · « **Reply #145 on:** August 17, 2020, 12:31:22 PM »

Quote from: Edwards on August 14, 2020, 07:18:09 PM

I am planning to retire (or at least be FI and quitting my full-time job in 2024).
Have been secretly planning it for years but don't have many people to share it with though because I'll be slowing down sooner than my friends and family.

Hopefully, all of our hard work goes as planned and we (everyone in this thread) can get out in 2024!
I'd wish you all luck, but hard work is what got us here.

Welcome to the 2024 cohort! I also haven't widely shared my plans. Will cross that bridge when it comes.

techwiz · « **Reply #146 on:** August 18, 2020, 06:30:40 AM »

Quote from: Blissful Biker on August 17, 2020, 12:31:22 PM

Quote from: Edwards on August 14, 2020, 07:18:09 PM
I am planning to retire (or at least be FI and quitting my full-time job in 2024).
Have been secretly planning it for years but don't have many people to share it with though because I'll be slowing down sooner than my friends and family.

Hopefully, all of our hard work goes as planned and we (everyone in this thread) can get out in 2024!
I'd wish you all luck, but hard work is what got us here.

Welcome to the 2024 cohort! I also haven't widely shared my plans. Will cross that bridge when it comes.

Welcome to the 2024 cohort!

Very hard to share plans of FIRE, with people outside this website. I still haven't found a good way to bring it up without triggering disbelief and an urge for them to change my mind. If you talk about the idea in terms of something far off there is no problem. If I say something like this "I would like to have more free time and wouldn't it be great to retire early" people will gladly join in the hypothetical conversation. As soon as you say something like "I been cutting my expenses and investing the savings and came up with a plan where I can live off my investments and retire early" the conversation turns to "FUD" (Fear Uncertainly and Doubt)! I have a hard enough time convincing my spouse and don't find it worthwhile telling other people. My plan is only tell people if they specifically ask about it.

Edwards · « **Reply #147 on:** August 19, 2020, 04:58:11 PM »

Quote from: techwiz on August 18, 2020, 06:30:40 AM

Quote from: Blissful Biker on August 17, 2020, 12:31:22 PM
Quote from: Edwards on August 14, 2020, 07:18:09 PM
I am planning to retire (or at least be FI and quitting my full-time job in 2024).
Have been secretly planning it for years but don't have many people to share it with though because I'll be slowing down sooner than my friends and family.

Hopefully, all of our hard work goes as planned and we (everyone in this thread) can get out in 2024!
I'd wish you all luck, but hard work is what got us here.

Welcome to the 2024 cohort! I also haven't widely shared my plans. Will cross that bridge when it comes.

Welcome to the 2024 cohort!

Very hard to share plans of FIRE, with people outside this website. I still haven't found a good way to bring it up without triggering disbelief and an urge for them to change my mind. If you talk about the idea in terms of something far off there is no problem. If I say something like this "I would like to have more free time and wouldn't it be great to retire early" people will gladly join in the hypothetical conversation. As soon as you say something like "I been cutting my expenses and investing the savings and came up with a plan where I can live off my investments and retire early" the conversation turns to "FUD" (Fear Uncertainly and Doubt)! I have a hard enough time convincing my spouse and don't find it worthwhile telling other people. My plan is only tell people if they specifically ask about it.

Thanks everyone for the greeting!

Also, I absolutely agree with you.
I learned years ago to be careful who to tell about early retirement. It just seemed so natural to tell those I cared for about the concept and maybe help them create a plan for themselves as well. However, the cold reception taught me to keep this to myself now.

I was even hesitant to mention it to my partner (only telling her about a year ago / we were not together at the time when I initially started this journey).
She has since opened a Vanguard account and started saving as much as she can afford to. I'm still helping her fully understand the concept of FIRE but haven't revealed how soon I actually plan to slow down (don't want to jinx it).

Unfortunately, she wasn't aware how other people usually react when this comes up in conversation. So she made the same mistake I did and told one of her best friends (who then proceeded to be openly dismissive about it by actively trying to dismantle the idea). Of course this "friend" would do this though because she has a bunch of student loan debt, lives in downtown Chicago, and has not started thinking about her future in anyway. Now my partner has also learned to keep the concept of FIRE quiet.

It's just so weird how much people hate the FIRE concept.
I would have been so thankful if someone mentioned this to me earlier.

Blissful Biker · « **Reply #148 on:** August 26, 2020, 01:14:38 PM »

Quote from: Edwards on August 19, 2020, 04:58:11 PM

It's just so weird how much people hate the FIRE concept.
I would have been so thankful if someone mentioned this to me earlier.

I totally agree! What a gift that would have been to my younger self.

FrogStash · « **Reply #149 on:** August 26, 2020, 02:16:10 PM »

Quote from: FrogStash on November 09, 2015, 02:17:00 PM

Wife and I are targeting leap day 2024, I'll be 46. She says she's willing to keep working if it lets me FIRE a year or two earlier, but for now we will shoot for dual FIRE on leap day...or perhaps a month or so later to deliver the best anti-April Fools joke ever.

Wow, the last five years have been wild. The Mrs. quit her part time but very annoying and stressful job and a few years later, started a side hustle related to homeschooling. A year and a half into the side hustle the pandemic has sent so much work her way...it's hard to believe.

We had fallen a bit behind target but are now right on or perhaps ahead, depending on how long the pandemic boost lasts for the side hustle.

I have conflicting emotions about making so much more money because we were fortunate enough to be in the right industry when the pandemic hit. We are priced at or below our competitors and have not raised prices since we opened. We are in no way "taking advantage" of the pandemic, but knowing that we are prospering as others are experiencing such pain and loss is always on my mind.

News:

Author Topic: 2024 FIRE Cohort (Read 143084 times)