Author Topic: 2025 Fire Cohort  (Read 204411 times)

OurTown

  • Handlebar Stache
  • *****
  • Posts: 1371
  • Age: 54
  • Location: Tennessee
Re: 2025 Fire Cohort
« Reply #800 on: February 29, 2024, 10:13:39 AM »
Yes, I will be keeping my p/t side gig that I have now.  Will keep doing that until age 69, then draw SS at my age 70.

SaucyAussie

  • Bristles
  • ***
  • Posts: 328
  • Location: Raleigh, NC
Re: 2025 Fire Cohort
« Reply #801 on: February 29, 2024, 10:27:44 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

My partner is a teacher and needs 4 more years until their pension kicks in.  So my original plan of travelling the world full time is probably not gonna fly.

I've thought about taking short term contracts, working at the local golf course, substitute teaching, or even driving a school bus.

swashbucklinstache

  • Pencil Stache
  • ****
  • Posts: 626
  • Location: Midwest U.S.
Re: 2025 Fire Cohort
« Reply #802 on: February 29, 2024, 11:58:26 AM »
I'm thinking about making it to spring then saying I want the rest of the year off and to return at a lower level and part-time. Then I can either not come back the next year after all or come back and work through spring again and see how I feel. Maximizes flexibility because the calendar and actual returns are the biggest factor and minimizes taxes. This might help me mentally jump a year earlier too.

evanc

  • Stubble
  • **
  • Posts: 112
  • Simplicity is the ultimate sophistication
Re: 2025 Fire Cohort
« Reply #803 on: February 29, 2024, 12:24:24 PM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

Lots of room between 4% and 3%. Have you considered working 1 day per week to get to 3.7% or 3.5%? I'm getting the impression that you are only working to keep the WR <4%, but does it necessarily have to jump all the way down to 3%?

evanc

  • Stubble
  • **
  • Posts: 112
  • Simplicity is the ultimate sophistication
Re: 2025 Fire Cohort
« Reply #804 on: February 29, 2024, 12:28:35 PM »
And I also selfishly want to have our anniversary, Thanksgiving and Christmas holidays with NO WORK RESIDUE for the first time since 1982.


Work residue – LOL! You may have just coined a term.

AK

  • Stubble
  • **
  • Posts: 189
Re: 2025 Fire Cohort
« Reply #805 on: February 29, 2024, 01:19:12 PM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I started creating courses in my area of expertise to share my knowledge and generate passive income. The passive income is starting to be worthwhile. I'm hoping that it'll cover my expenses and the portfolio is just gravy. Freelancing is also fun too so the plan is to continue doing both while they're enjoyable. Thankfully, our expenses are pretty low and the pay is good enough that I already only have to work part-time.

Freedomin5

  • Walrus Stache
  • *******
  • Posts: 6482
Re: 2025 Fire Cohort
« Reply #806 on: February 29, 2024, 08:35:55 PM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

Yes, it's part of our SORR mitigation strategy. There's a role I really want to try, and there's a part-time position that pays well, allows me to get my feet wet, while also providing the opportunity to try different things and to potentially grow the business. It should be about 1-2 days per week.

Sandi_k

  • Handlebar Stache
  • *****
  • Posts: 1558
  • Location: California
Re: 2025 Fire Cohort
« Reply #807 on: February 29, 2024, 09:33:47 PM »
And I also selfishly want to have our anniversary, Thanksgiving and Christmas holidays with NO WORK RESIDUE for the first time since 1982.


Work residue – LOL! You may have just coined a term.

Ha! Hadn't thought of that. It just...weighs on me, you know?

jade

  • Pencil Stache
  • ****
  • Posts: 519
Re: 2025 Fire Cohort
« Reply #808 on: March 01, 2024, 02:50:39 AM »
And I also selfishly want to have our anniversary, Thanksgiving and Christmas holidays with NO WORK RESIDUE for the first time since 1982.


Work residue – LOL! You may have just coined a term.

+1!

MMMarbleheader

  • Bristles
  • ***
  • Posts: 252
Re: 2025 Fire Cohort
« Reply #809 on: March 01, 2024, 06:58:05 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

Yes, it's part of our SORR mitigation strategy. There's a role I really want to try, and there's a part-time position that pays well, allows me to get my feet wet, while also providing the opportunity to try different things and to potentially grow the business. It should be about 1-2 days per week.

Nice! Same on my end as I don't own real estate. I am thinking about one of two things:

1) Sticking with that I do but trying it part time. I like it enough, but I am good at it and will make almost $100k and keep benefits if I went to 24 hours a week.

2) Try something new which would probably be closer to $50,000 per year and require me to go on the ACA.

My spending is only about $4k a month so #2 would cover expenses but it would be stepping out of the comfort zone but I kind of welcome that change.

Fomerly known as something

  • Handlebar Stache
  • *****
  • Posts: 1627
  • Location: CA
Re: 2025 Fire Cohort
« Reply #810 on: March 01, 2024, 05:02:34 PM »
I have an FA.  I also have built over then last 3-4 years a cash account to take me through at least 2026 before I’ll need to withdraw from my investment accounts which are at a 70/30 split and again have been for 3-4 years, I call it having my sea anchor out.  I work with my Financial Advisor, I will happily export to him the grunt work of which amount to take out of which account assuming I agree with him.  I control my account 100%

frugalecon

  • Pencil Stache
  • ****
  • Posts: 730
Re: 2025 Fire Cohort
« Reply #811 on: March 02, 2024, 05:57:21 AM »
Checked in on account balances as part of a Q1 review. Liquid net worth at 111% of end-of-year target. Still kind of stuns me that all of the planning has us ahead of the game for a Q1 2025 retirement.

If it weren’t for a meaningful bump from going until March 2025, I would be pulling the rip cord now.

TempusFugit

  • Pencil Stache
  • ****
  • Posts: 632
  • Location: In my own head, usually
Re: 2025 Fire Cohort
« Reply #812 on: March 02, 2024, 09:46:54 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I am thinking that I would like to take on small paid projects a couple of times a year.  I’ve done lots of freelance development work in the past, though not since COVID.   My same contacts have told me they have plenty of things to do.  My concern is that I want to find the sweet spot of having a little bit to do, maybe 2-3 projects per year that take 40-50 hours (about a month of 10-12 hour weeks).   That’s being pretty picky, I know!

It isn’t primarily about the money, though bringing in 10-20K a year in the first 5 years of my planned retirement would be a nice extra cushion.  My current financial plan has me spending about 5% for years 1-5 before my pension starts.  It shouldn’t be any problem since my WR will drop almost 2% at year 5, but still having a little income in those early years might be psychologically comforting. 

Freedomin5

  • Walrus Stache
  • *******
  • Posts: 6482
Re: 2025 Fire Cohort
« Reply #813 on: March 02, 2024, 02:38:05 PM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I am thinking that I would like to take on small paid projects a couple of times a year.  I’ve done lots of freelance development work in the past, though not since COVID.   My same contacts have told me they have plenty of things to do.  My concern is that I want to find the sweet spot of having a little bit to do, maybe 2-3 projects per year that take 40-50 hours (about a month of 10-12 hour weeks).   That’s being pretty picky, I know!

It isn’t primarily about the money, though bringing in 10-20K a year in the first 5 years of my planned retirement would be a nice extra cushion.  My current financial plan has me spending about 5% for years 1-5 before my pension starts.  It shouldn’t be any problem since my WR will drop almost 2% at year 5, but still having a little income in those early years might be psychologically comforting.

You can afford to be picky. :)

MMMarbleheader

  • Bristles
  • ***
  • Posts: 252
Re: 2025 Fire Cohort
« Reply #814 on: March 04, 2024, 09:40:40 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I am thinking that I would like to take on small paid projects a couple of times a year.  I’ve done lots of freelance development work in the past, though not since COVID.   My same contacts have told me they have plenty of things to do.  My concern is that I want to find the sweet spot of having a little bit to do, maybe 2-3 projects per year that take 40-50 hours (about a month of 10-12 hour weeks).   That’s being pretty picky, I know!

It isn’t primarily about the money, though bringing in 10-20K a year in the first 5 years of my planned retirement would be a nice extra cushion.  My current financial plan has me spending about 5% for years 1-5 before my pension starts.  It shouldn’t be any problem since my WR will drop almost 2% at year 5, but still having a little income in those early years might be psychologically comforting.

This all makes me think of some musing from Cal Newport

https://www.nytimes.com/2024/02/16/opinion/creative-work-productivity-seasonality.html


TempusFugit

  • Pencil Stache
  • ****
  • Posts: 632
  • Location: In my own head, usually
Re: 2025 Fire Cohort
« Reply #815 on: March 04, 2024, 11:34:54 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I am thinking that I would like to take on small paid projects a couple of times a year.  I’ve done lots of freelance development work in the past, though not since COVID.   My same contacts have told me they have plenty of things to do.  My concern is that I want to find the sweet spot of having a little bit to do, maybe 2-3 projects per year that take 40-50 hours (about a month of 10-12 hour weeks).   That’s being pretty picky, I know!

It isn’t primarily about the money, though bringing in 10-20K a year in the first 5 years of my planned retirement would be a nice extra cushion.  My current financial plan has me spending about 5% for years 1-5 before my pension starts.  It shouldn’t be any problem since my WR will drop almost 2% at year 5, but still having a little income in those early years might be psychologically comforting.

This all makes me think of some musing from Cal Newport

https://www.nytimes.com/2024/02/16/opinion/creative-work-productivity-seasonality.html

This rings true to me - the idea that we need seasons off and away from work.  I can’t recall who said it, but the concept of a ‘vacation’ can really mean just doing *something* else.   I’d love to take a 3-6 month sabbatical as a trial retirement.  Who knows, maybe I’d find out that I really miss being part of a large organization working on common goals.  Maybe I’ll be bored out of my mind after a couple months. 

Over the holidays I had lunch with an old friend who is a university professor (tenured) and he told me how much he enjoys the ‘seasonality’ of his job.  Every semester is new, and summer is different from the academic semesters.  It seems like a great way to have some variety that most regular corporate types may not get.  I’m sure academia has some big down sides, especially for the non-tenured, but in this aspect it sounds lovely. 

MMMarbleheader

  • Bristles
  • ***
  • Posts: 252
Re: 2025 Fire Cohort
« Reply #816 on: March 04, 2024, 11:55:31 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I am thinking that I would like to take on small paid projects a couple of times a year.  I’ve done lots of freelance development work in the past, though not since COVID.   My same contacts have told me they have plenty of things to do.  My concern is that I want to find the sweet spot of having a little bit to do, maybe 2-3 projects per year that take 40-50 hours (about a month of 10-12 hour weeks).   That’s being pretty picky, I know!

It isn’t primarily about the money, though bringing in 10-20K a year in the first 5 years of my planned retirement would be a nice extra cushion.  My current financial plan has me spending about 5% for years 1-5 before my pension starts.  It shouldn’t be any problem since my WR will drop almost 2% at year 5, but still having a little income in those early years might be psychologically comforting.

This all makes me think of some musing from Cal Newport

https://www.nytimes.com/2024/02/16/opinion/creative-work-productivity-seasonality.html

This rings true to me - the idea that we need seasons off and away from work.  I can’t recall who said it, but the concept of a ‘vacation’ can really mean just doing *something* else.   I’d love to take a 3-6 month sabbatical as a trial retirement.  Who knows, maybe I’d find out that I really miss being part of a large organization working on common goals.  Maybe I’ll be bored out of my mind after a couple months. 

Over the holidays I had lunch with an old friend who is a university professor (tenured) and he told me how much he enjoys the ‘seasonality’ of his job.  Every semester is new, and summer is different from the academic semesters.  It seems like a great way to have some variety that most regular corporate types may not get.  I’m sure academia has some big down sides, especially for the non-tenured, but in this aspect it sounds lovely.

Well said

I went to Northeastern University which is known for it's co-op program. I LOVED co-op, school was OK but co-op was great. It was 6 month work, 6 months school for three years. You couldnt pull me away from it.

I was excited for work every day. That continued for about a year of full time work. Then I kind of came to a realization that well, this is it. Originally I thought that it was because co-op was the low responsibility, decent pay factor. plus I was hourly. But I think I have come to realize it was the school/work cycle that I missed (and still do). Though I was not a huge fan of being in school, I still had breaks to re-charge and school life was a different schedule.

I had some slower periods in my work life when younger. I work on construction projects and the start/end are usually slower than the middle. So you would get maybe 6months of one ending and another starting. But the cruel reality as I got more experience is now I typically get pulled from a project when it is substantially complete and added to a new project that I am now in charge of. Thank god for FIRE, I am so over it.

Tax prep, though possibly boring, I could see myself getting into if my part time pursuits within my current line of work don't work out post - FIRE.

Either way, I am not about to do this for another 25-30 years.
« Last Edit: March 04, 2024, 12:00:42 PM by MMMarbleheader »

jade

  • Pencil Stache
  • ****
  • Posts: 519
Re: 2025 Fire Cohort
« Reply #817 on: March 06, 2024, 01:39:08 AM »
I second this. I'm not an academic but I work at a university (term time only) so 30 weeks of the year. This is why I'm happy to continue working part time (as well as loving the actual job) even though we've (just hit.. woohoo!!!) our FIRE figure. I get months off over the summer and other big chunks in the year. It's great. I'm also fortunate that I work by the hour with flexibility too. Universities often have temp banks too for short term contracts which can be an easy way in.
« Last Edit: March 06, 2024, 01:40:46 AM by jade »

SaucyAussie

  • Bristles
  • ***
  • Posts: 328
  • Location: Raleigh, NC
Re: 2025 Fire Cohort
« Reply #818 on: March 07, 2024, 09:01:29 AM »
I don't know if this makes it feel closer or further away, but we are this close to 2025 -
491 days
11798 hours
707890 minutes
42473421 seconds

Going fast!

299 days
7189 hours
431340 minutes
25880429 seconds

mistymoney

  • Handlebar Stache
  • *****
  • Posts: 2417
Re: 2025 Fire Cohort
« Reply #819 on: March 07, 2024, 09:14:00 AM »
I don't know if this makes it feel closer or further away, but we are this close to 2025 -
491 days
11798 hours
707890 minutes
42473421 seconds

Going fast!

299 days
7189 hours
431340 minutes
25880429 seconds

https://www.youtube.com/watch?v=bagCdMUuevQ

frugalecon

  • Pencil Stache
  • ****
  • Posts: 730
Re: 2025 Fire Cohort
« Reply #820 on: March 07, 2024, 04:04:02 PM »
I don't know if this makes it feel closer or further away, but we are this close to 2025 -
491 days
11798 hours
707890 minutes
42473421 seconds

Going fast!

299 days
7189 hours
431340 minutes
25880429 seconds

https://www.youtube.com/watch?v=bagCdMUuevQ

My personal countdown has me 365 days (yes! Exactly 1 year today!) until my target retirement date, with 199 total workdays required. But in truth, I have really been feeling like I am operating on fumes, and considering decamping for the 2024 cohort. I know I should tough it out for the pot of gold at the end of the rainbow, but sometimes it is hard.
« Last Edit: March 07, 2024, 04:05:34 PM by frugalecon »

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17374
Re: 2025 Fire Cohort
« Reply #821 on: March 09, 2024, 07:32:56 AM »
Anyone thinking about working part time post 2025?

I always thought I would walk away and I do plan on being 4% on our core spending. BUT our travel spending has inflated alot as the kids have gotten older. I am thinking about working 2-3 days a week until I hit 3% and re-evaluate.

I have always intended to keep working part time. DH as well, but we really like our work.

obstinate

  • Handlebar Stache
  • *****
  • Posts: 1147
Re: 2025 Fire Cohort
« Reply #822 on: March 09, 2024, 09:07:48 AM »
I've been starting to consider the possibility of retiring in 2025. I've been following MrMoneyMustache since very nearly the start of my career. I've also been lucky enough to be paid very well for my labor, have a similarly minded partner, and also make some luckily timed financial moves regarding housing.

At this point we have saved up something like 40x annual expenses, ignoring housing cost, taxes, and health insurance. We are considering relocating from our current HCOL location to an MCOL location, where a whole house of a similar quality to the one we have can be purchased for just the equity we have in our current house.

Moreover, if we were retired, I reckon we would be able to immediately cut about 1/4 of our overall expenses, which are currently spent on afterschool care and full day+sleep away summer camps for the kids.

Health insurance is somewhat of an unknown for me. At this point, I'm trying to approach the problem by looking at the upper bound of expenses. According to the health insurance transparency page for the state we're considering moving to, we'd be spending about $1,500/mo for our family to be on a gold plan. I think we would actually be fine on a silver plan as we have no significant health issues and could probably afford to self-insure.

I also find it difficult to game out exactly how much I'm going to spend on taxes. I've just estimated 25% average on rich-broke-dead, and the model seems to think we'd be fine.

In light of all this, I think we're about as safe to retire as you could really ask for. I think the bigger questions are the intangibles. Would we really be as happy in the medium sized city we'd be moving to? It has much better outdoor options and kids stuff than where we currently live, but not as many fancy restaurants and cultural options. As parents of young children, we don't currently take much advantage of all that fancy big city stuff. We would miss the mass transit options, but we also don't mind driving that much either. Would we miss work? Would we suddenly decide that we really want to buy a boat and a plane if we retired? Probably not, but the overcautious worrier in me can't help thinking about it.

This is such an interesting problem because you can't really talk it out with the "normies" in your life. People where we live just do not think about retiring or quitting the rat race. Also, most of our friends are still struggling to acquire a house adequate to their family needs, to say nothing of having enough saved up to live off their investments. Chatting about already having way too much, or the unthinkable luxury of not having to work, with such folks is not something I really feel that comfortable with.

To dip my toes in the pool of early retirement, I'm planning to start taking a lot more vacation over the next year. My idea is to just take vacation any time I want until I run out, and, if I want to do more vacationing beyond that, take unpaid time off. I could probably even retire in place, although we'd be much closer to the line, and I'm not sure I really want to be retired in this city.
« Last Edit: March 09, 2024, 09:20:44 AM by obstinate »

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17374
Re: 2025 Fire Cohort
« Reply #823 on: March 09, 2024, 12:03:34 PM »
I've been starting to consider the possibility of retiring in 2025. I've been following MrMoneyMustache since very nearly the start of my career. I've also been lucky enough to be paid very well for my labor, have a similarly minded partner, and also make some luckily timed financial moves regarding housing.

At this point we have saved up something like 40x annual expenses, ignoring housing cost, taxes, and health insurance. We are considering relocating from our current HCOL location to an MCOL location, where a whole house of a similar quality to the one we have can be purchased for just the equity we have in our current house.

Moreover, if we were retired, I reckon we would be able to immediately cut about 1/4 of our overall expenses, which are currently spent on afterschool care and full day+sleep away summer camps for the kids.

Health insurance is somewhat of an unknown for me. At this point, I'm trying to approach the problem by looking at the upper bound of expenses. According to the health insurance transparency page for the state we're considering moving to, we'd be spending about $1,500/mo for our family to be on a gold plan. I think we would actually be fine on a silver plan as we have no significant health issues and could probably afford to self-insure.

I also find it difficult to game out exactly how much I'm going to spend on taxes. I've just estimated 25% average on rich-broke-dead, and the model seems to think we'd be fine.

In light of all this, I think we're about as safe to retire as you could really ask for. I think the bigger questions are the intangibles. Would we really be as happy in the medium sized city we'd be moving to? It has much better outdoor options and kids stuff than where we currently live, but not as many fancy restaurants and cultural options. As parents of young children, we don't currently take much advantage of all that fancy big city stuff. We would miss the mass transit options, but we also don't mind driving that much either. Would we miss work? Would we suddenly decide that we really want to buy a boat and a plane if we retired? Probably not, but the overcautious worrier in me can't help thinking about it.

This is such an interesting problem because you can't really talk it out with the "normies" in your life. People where we live just do not think about retiring or quitting the rat race. Also, most of our friends are still struggling to acquire a house adequate to their family needs, to say nothing of having enough saved up to live off their investments. Chatting about already having way too much, or the unthinkable luxury of not having to work, with such folks is not something I really feel that comfortable with.

To dip my toes in the pool of early retirement, I'm planning to start taking a lot more vacation over the next year. My idea is to just take vacation any time I want until I run out, and, if I want to do more vacationing beyond that, take unpaid time off. I could probably even retire in place, although we'd be much closer to the line, and I'm not sure I really want to be retired in this city.

First, you can talk to anyone about this stuff, you just can't necessarily expect people not to react as though you are strange.

Once you get accustomed to people thinking you are strange as a totally reasonable outcome of being authentic, it's very easy to talk about your authentic life experiences.

As for whether things will make you happy, it's impossible to know what your future self will want. They will be wiser and far more informed than you are.

Leaving work will fundamentally alters your relationship to the world, to time, to just about everything. There's a whole process of getting to know this version of yourself who has totally different needs and constraints than your working self.

You didn't have all the answers of how things would play out when you started working, you also don't have all the answers of how things will play out if/when you choose to leave your job(s).

I left my career almost exactly 4 years ago and nothing, and I mean NOTHING has played out as I expected.

But present me is much wiser and far more equipped to build the optimal life I enjoy most than a more ignorant, past version of myself that didn't really quite understand what matters most.

There's SO MUCH my career self just didn't know about me and had to learn for present me to have the insights that I do now about happiness and well being.

So don't put pressure on yourself to have it all figured out. I pretty much guarantee that the future you from a few years from now will have learned so much about themselves that they will look back on present you with condescending fondness and a "there there silly" perception.

At least that's the hope.

The greatest privilege in life is to look back on oneself as foolish because you've become much wiser about life.

frugalecon

  • Pencil Stache
  • ****
  • Posts: 730
Re: 2025 Fire Cohort
« Reply #824 on: March 20, 2024, 07:32:07 PM »
I don't know if this makes it feel closer or further away, but we are this close to 2025 -
491 days
11798 hours
707890 minutes
42473421 seconds

Going fast!

299 days
7189 hours
431340 minutes
25880429 seconds

https://www.youtube.com/watch?v=bagCdMUuevQ

My personal countdown has me 365 days (yes! Exactly 1 year today!) until my target retirement date, with 199 total workdays required. But in truth, I have really been feeling like I am operating on fumes, and considering decamping for the 2024 cohort. I know I should tough it out for the pot of gold at the end of the rainbow, but sometimes it is hard.

Strangely, since I posted this, I have moved into a feeling of deep calm. (190 workdays at this point) My situation at work abruptly changed, with a new assignment, and that has given me a bit of wind in my sails. If I like it, great. If I don’t like it, I have a plan to go in 2024. Something about being at less than a year makes it feel like the bulls#$t can just roll off my back.

jade

  • Pencil Stache
  • ****
  • Posts: 519
Re: 2025 Fire Cohort
« Reply #825 on: March 21, 2024, 01:02:09 AM »
I don't know if this makes it feel closer or further away, but we are this close to 2025 -
491 days
11798 hours
707890 minutes
42473421 seconds

Going fast!

299 days
7189 hours
431340 minutes
25880429 seconds

https://www.youtube.com/watch?v=bagCdMUuevQ

My personal countdown has me 365 days (yes! Exactly 1 year today!) until my target retirement date, with 199 total workdays required. But in truth, I have really been feeling like I am operating on fumes, and considering decamping for the 2024 cohort. I know I should tough it out for the pot of gold at the end of the rainbow, but sometimes it is hard.

Strangely, since I posted this, I have moved into a feeling of deep calm. (190 workdays at this point) My situation at work abruptly changed, with a new assignment, and that has given me a bit of wind in my sails. If I like it, great. If I don’t like it, I have a plan to go in 2024. Something about being at less than a year makes it feel like the bulls#$t can just roll off my back.

LOVE this!

MMMarbleheader

  • Bristles
  • ***
  • Posts: 252
Re: 2025 Fire Cohort
« Reply #826 on: March 21, 2024, 06:12:01 AM »
Well if the market keeps raging, I will hit my end of 2024 savings goal in April or May....

stealthwealth

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: 2025 Fire Cohort
« Reply #827 on: March 21, 2024, 03:20:00 PM »
I've been technically able to FIRE for a couple years, but I'm aiming for fat/ter fire.  I live in a low/medium COL part of the Midwest.  A couple developments in that time frame, and some of the math:

1)  We owe $50k on our house (prob worth $250k as is), and are probably going to put $150k into our house the next couple years to definitively repair and update it from 1975 (would recover every bit of that in a sale).  We may eventually want to relocated to a slightly higher COL location in the future (north and/or west - with 4 full seasons), but still not coasts or super hot city. 

2)  We have $2.1M in investable assets. 

3)  No debt besides the mortgage.

4)  Kids have $160k in college savings funds.

5)  Wife started a job she digs, making $90k a year, and it pays for half tuition for the kids in 7 years if she sticks around.  I make $120-150k depending on bonuses. 

6)  If I stick around my job another 18 months, I'll get 1100 PSI and 1100 RSI shares of stock (at least half no matter what) currently worth $140/share.  So between 150-300k after taxes maybe.  I like my coworkers and the job is interesting, so after the RSI and/or PSI vest next August, I'll maybe try to go part time.  But I also wouldn't mind just riding my bike, playing music, helping my folks, kid time, and pursuing other interests instead. 

Anyway, I've recently come to realize that with my wife's income, our investable stash is probably plenty.  Am I overthinking this?  I feel like something is missing in my itemization. 

grantmeaname

  • CM*MW 2023 Attendees
  • Walrus Stache
  • *
  • Posts: 5960
  • Age: 31
  • Location: Middle West
  • Cast me away from yesterday's things
Re: 2025 Fire Cohort
« Reply #828 on: March 21, 2024, 03:31:50 PM »
What do you spend in a year? Roughly how old are you two?

stealthwealth

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: 2025 Fire Cohort
« Reply #829 on: March 21, 2024, 03:59:47 PM »
We probably spend about $65k a year, wife likes fancy groceries, and I spend money on bike and music stuff.  Two adults, two kids.  We're mid 40s, kids are tween. 


grantmeaname

  • CM*MW 2023 Attendees
  • Walrus Stache
  • *
  • Posts: 5960
  • Age: 31
  • Location: Middle West
  • Cast me away from yesterday's things
Re: 2025 Fire Cohort
« Reply #830 on: March 21, 2024, 05:09:09 PM »
So you're a bit below a 3% safe withdrawal rate with a 30-40 year planning horizon? Looks pretty good for full retirement, and very good for Coast, to me.

weebs

  • Stubble
  • **
  • Posts: 120
  • Age: 50
  • Location: The Sticks
Re: 2025 Fire Cohort
« Reply #831 on: March 22, 2024, 06:52:35 AM »

6)  If I stick around my job another 18 months, I'll get 1100 PSI and 1100 RSI shares of stock (at least half no matter what) currently worth $140/share.  So between 150-300k after taxes maybe.  I like my coworkers and the job is interesting, so after the RSI and/or PSI vest next August, I'll maybe try to go part time.  But I also wouldn't mind just riding my bike, playing music, helping my folks, kid time, and pursuing other interests instead. 


You're already FI, but this seems like a no-brainer.  That's a nice payout in a relatively short amount of time. 

WorkingToUnwind

  • Bristles
  • ***
  • Posts: 341
Re: 2025 Fire Cohort
« Reply #832 on: March 22, 2024, 05:32:53 PM »
@stealthwealth I think you are quite FI already. Any more earnings are just icing on the cake.

ca-rn

  • Stubble
  • **
  • Posts: 173
Re: 2025 Fire Cohort
« Reply #833 on: March 22, 2024, 09:56:29 PM »
I've been technically able to FIRE for a couple years, but I'm aiming for fat/ter fire.  I live in a low/medium COL part of the Midwest.  A couple developments in that time frame, and some of the math:

1)  We owe $50k on our house (prob worth $250k as is), and are probably going to put $150k into our house the next couple years to definitively repair and update it from 1975 (would recover every bit of that in a sale).  We may eventually want to relocated to a slightly higher COL location in the future (north and/or west - with 4 full seasons), but still not coasts or super hot city. 

2)  We have $2.1M in investable assets. 

3)  No debt besides the mortgage.

4)  Kids have $160k in college savings funds.

5)  Wife started a job she digs, making $90k a year, and it pays for half tuition for the kids in 7 years if she sticks around.  I make $120-150k depending on bonuses. 

6)  If I stick around my job another 18 months, I'll get 1100 PSI and 1100 RSI shares of stock (at least half no matter what) currently worth $140/share.  So between 150-300k after taxes maybe.  I like my coworkers and the job is interesting, so after the RSI and/or PSI vest next August, I'll maybe try to go part time.  But I also wouldn't mind just riding my bike, playing music, helping my folks, kid time, and pursuing other interests instead. 

Anyway, I've recently come to realize that with my wife's income, our investable stash is probably plenty.  Am I overthinking this?  I feel like something is missing in my itemization.

Healthcare.

Is healthcare covered at your wife's job or if you quit, will you need to buy via ACA?

stealthwealth

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: 2025 Fire Cohort
« Reply #834 on: March 25, 2024, 01:15:56 PM »
I've been technically able to FIRE for a couple years, but I'm aiming for fat/ter fire.  I live in a low/medium COL part of the Midwest.  A couple developments in that time frame, and some of the math:

1)  We owe $50k on our house (prob worth $250k as is), and are probably going to put $150k into our house the next couple years to definitively repair and update it from 1975 (would recover every bit of that in a sale).  We may eventually want to relocated to a slightly higher COL location in the future (north and/or west - with 4 full seasons), but still not coasts or super hot city. 

2)  We have $2.1M in investable assets. 

3)  No debt besides the mortgage.

4)  Kids have $160k in college savings funds.

5)  Wife started a job she digs, making $90k a year, and it pays for half tuition for the kids in 7 years if she sticks around.  I make $120-150k depending on bonuses. 

6)  If I stick around my job another 18 months, I'll get 1100 PSI and 1100 RSI shares of stock (at least half no matter what) currently worth $140/share.  So between 150-300k after taxes maybe.  I like my coworkers and the job is interesting, so after the RSI and/or PSI vest next August, I'll maybe try to go part time.  But I also wouldn't mind just riding my bike, playing music, helping my folks, kid time, and pursuing other interests instead. 

Anyway, I've recently come to realize that with my wife's income, our investable stash is probably plenty.  Am I overthinking this?  I feel like something is missing in my itemization.

Healthcare.

Is healthcare covered at your wife's job or if you quit, will you need to buy via ACA?

We currently use my health insurance, but would switch to hers when the time comes. 

OurTown

  • Handlebar Stache
  • *****
  • Posts: 1371
  • Age: 54
  • Location: Tennessee
Re: 2025 Fire Cohort
« Reply #835 on: March 27, 2024, 02:06:51 PM »
March 31, 2025.  Hold me to it!