2029 FIRE Cohort

[FI4good]

Hey all,
 Partner has decided to sell their other house that they kept hold of as an escape / personal life security .. so mortgage will be gone by June or July hopefully, giving us both more security and more financial security by not having 2 mortgages to pay, nope we’re not interested in investing it instead , freedom from huge uncontrollable outgoings at an interest rate set by a 3rd party is what we want.

This will increase the SR .. because most of my wealth is inside a pension it still looks like it might be 2031. TMY( two more years)

I am saving outside of the pension so i could choose to retire as i planned in 29’ all those years ago when DJ started the thread.

Happy to see how things play out , for me no debt adds a whole lot to my peace of mind and reduces our outgoings per month by 60-70%

I think it will take a while to get used to this new reality, i can hardly believe it’s going to happen as i thought i was slogging away to pay the ”death guess loan” (mort-gauge)  until my retirement date.


cheers FI4

[SharkStomper]

Well, I hate to leave you guys, but I will likely be moving to the 2025 cohort.  I've been running the numbers and unless the market takes a crap this year we'll be able to RE at some point next year.  The only thing that might push me into 2026 is lack of sale of some property we've recently listed.  I'll be 55 and the wife will be 61.

[FI4good]

brilliant news Mr Shark 😎

 Let us know how it goes.

[BuffaloStache]

Well, I hate to leave you guys, but I will likely be moving to the 2025 cohort.  I've been running the numbers and unless the market takes a crap this year we'll be able to RE at some point next year.  The only thing that might push me into 2026 is lack of sale of some property we've recently listed.  I'll be 55 and the wife will be 61.

Congrats and good luck! Even if you are 'leaving us', don't be a stranger. Come back and tell us tales of the promised land :-D.

[markbike528CBX]

Well, I hate to leave you guys, but I will likely be moving to the 2025 cohort.  I've been running the numbers and unless the market takes a crap this year we'll be able to RE at some point next year.  The only thing that might push me into 2026 is lack of sale of some property we've recently listed.  I'll be 55 and the wife will be 61.

This thread has lots to go before "Jumping the Shark".   https://tvtropes.org/pmwiki/pmwiki.php/Main/JumpingTheShark
Sorry but I had to take the opportunity.

Any time that has LESS in it (One Less Year, Two Less Years, Four Less Years etc) is completely acceptable is encouraged.
One More Year is a slippery slope that has lead to some members doing _6_ more years.   Don't Do THAT.

All of you have FU money, if not leanFIRE, so power is leaning toward you.

Mark -- OP of the 2019 Fire thread. 
OLY in 2018, LNW up a lot, even with stache withdrawals.

[SharkStomper]

Thanks all!  I'll be sure to pop in and let you know when I make the jump.  :)

[DeskJockey2028]

Good for you both! Glad you're going earlier.

Well, I hate to leave you guys, but I will likely be moving to the 2025 cohort.  I've been running the numbers and unless the market takes a crap this year we'll be able to RE at some point next year.  The only thing that might push me into 2026 is lack of sale of some property we've recently listed.  I'll be 55 and the wife will be 61.

[DeskJockey2028]

60% of the way from this cohort being founded to 1/1/29! I never intended to build this sort of strange, text based ziggurat but here we are! We're on the downslope of time.

55%! Officially more than half-way from the start of this cohort to 1/1/29! (Sorry, I'm 2 days late, was away for the weekend)

Today is 50% day! We're halfway through from the start date of this cohort to 1/1/29! Wooo! If this were a hill, we'd be at the top and ready to start heading down.

Here we are, 45% of the way through our journey from the start of this cohort to 1/1/29! Onward to 50% early next year!

40% of our journey through the start of this thread to January 1st of 2029 has been completed! Happy December everyone!

35% done.

Welcome to this last day of April, 2021! We are now over a third of the way to 1/1/29 since the start of this thread.  Go us!

Tomorrow, Saturday the 26th of September, we will reach our 30% milestone! 30% of the time from the start of this cohort thread to 1/1/29 has passed. Remember when we passed the 2% mark? Now we're nearly a third of the way to 2029, which is a nice milestone to hit! I hope everyone is doing well and keeping safe.

Today's at 2pm local time, we have hit 25% of the way to 1/1/29, from the start of this cohort! ONE QUARTER DONE! Three to go! If our FIRE process was a dollar, this is the first time we'd get enough change out of it to feed a parking meter. Go us!

Today, at 4am local time, marks 20% of the way to 2029! That's 1/5th of the way there! We're starting to show some serious progress here. 3,452 days to the first day of 2029! Less than 9.5 years and way less than the nearly 4,300 we started this cohort with.

Welcome to 15% of the way to 1/1/29! Hope everyone had a decent year and that 2019 brings more good things and more retirement funds!  In 215 days or so, that is, next July, we'll be 1/5th of the way there! We're currently 3,665 days away from 1/1/29. If anyone's interested, we're also 646 days from the day I started this thread!

And just like that, we're in double digits. Happy 10% day! 1/10th of the way to 2029!

Hey all! Tomorrow, Saturday the 14th, is 5% day! Look at that, we've already more than doubled our previous 2% milestone. :) Hope to see you all again on May 18th, 2018 for 10% day!

Happy 2% day!

[HeadedWest2029]

These posts always cheer me up.  Happy Friday everyone!

[BuffaloStache]

Woohoo! Thanks for keeping things rolling, DJ!

60% of the way makes me think that I need to spend more time planning out the mechanics and logistics of actually being FI. I put it in my log recently, but I think I'm coalescing on a OMY plan that would put my mind at ease but may still enable me to stay in the '29ers club. Other things I need to start thinking about:

• Health Insurance- I need to dig into more details on this. Maybe I should start playing around with my state's exchange website during the next open enrollment window to get an idea of the costs?
• Any consolidation of funds that I'd prefer- I have an old 401k account just sitting there that I probably should roll over. Does it make more sense to roll it into a tIRA or my active/current 401k account?
• Start thinking through my withdrawal plan. What accounts first, in what order?
• Roth conversions? I know there is a 5 year timeline for this, so maybe this is something to start thinking about in 2025ish to set up a ladder??

[FI4good]

So house sale goes slowly:0/

Had a review of my finances, if we pay off the mortgage, the way i’m saving and investing i will quit work by Dec 24th 2027 maybe sooner.

Quitting before the pension can pay out means i want about 2 years living expenses set aside (£20,000 about 25,000 usd)   as a buffer ontop of the projected outgoings + a margin..

This is due to possible government changing rules wrt retirement age / early retirement , house issues like roof or heating , maintenance, family emergencies that kind of stuff .

Nice to be able to chop the time at soul sucking corp inc down a bit , i can always find part time work with the skills i have should finances need a top up at a later date .

On with the plan !

[pasadenafr]

I'm getting antsy as I get closer to my "number" and realize I may get there earlier than I thought, provided the market doesn't fall and I keep my job. I already know I won't have enough in my brokerage account to buy a home AND live on until age 59.5, so the plan is to use the rule of 55 - in 4.5 years. But I'm starting to work on contingency plans if I reach my number before that.

I know I have options. None of them are mathematically better or safer than working here until January 2029. My Dad turned 78 today, 5,000 miles away. I don't think I can wait another 4.5 years before going back home. I don't think I *should*. I don't *want* to. Which means I can't stop making plans, undoing them and making them all over again. Plans, backup plans, backups of the backups. My brain is driving me crazy, because there really is nothing more I can do today.

I'm going to go for a run. Happy birthday Daddy.

[BuffaloStache]

Folks here getting closer to their targets, including the potential for achieving their goals "early" (ahead of 2029), is a great thing to see. Even though many of these calculations and scenario-plannings come with a lot of challenges, hard discussions, and tedious research, remember that it's honestly a great problem to have.

@FI4good - sounds like a good plan and good luck. I agree, having some extra buffer for any large home maintenance type events that may occur in the first ~5 years or so of retirement (a new roof, new HVAC system, Sewer pipe, etc.) seems like a good idea. Everyone always says the first ~5 years of retirement are the most crucial, financially, right?

@pasadenafr - Part of reason *to* FIRE is to open up more time to spend with family, so it definitely seems like your priorities are in the right place. Does your employer offer "unpaid leave" or "leaves of absence"? Maybe an idea would be to keep working until you hit some 'minimum FIRE' number, then ask your employer to take unpaid leave/a leave of absence that would allow you to go spend several months with your Dad. It would be better than a quick vacation and you could still come back to a job to be active for the rule of 55. Just a thought.

For everyone else, I hope you are having a good summer! Mine has been incredibly busy, but I keep trying to remind myself that these are all good problems to have...

[pasadenafr]

@pasadenafr - Part of reason *to* FIRE is to open up more time to spend with family, so it definitely seems like your priorities are in the right place. Does your employer offer "unpaid leave" or "leaves of absence"? Maybe an idea would be to keep working until you hit some 'minimum FIRE' number, then ask your employer to take unpaid leave/a leave of absence that would allow you to go spend several months with your Dad. It would be better than a quick vacation and you could still come back to a job to be active for the rule of 55. Just a thought.

Thank you. They do, but it's limited (including I believe a Family Care leave that would be relatively easy to qualify for, given my Dad's current medical issues). That would indeed give me a few months, maximum 6 (because my employer doesn't allow us to be out of the country for more than that due to tax residency issues).

A (much) better option would be to transfer to my home country's subsidiary. That would keep me eligible for the Rule of 55 (I checked in the SPD and confirmed with Fidelity), allow me to CoastFIRE from my home country, and get a mortgage, preserving my brokerage account. It's also the hardest option to achieve. Still, probably the one I'll shoot for if/when I reach my "number" before 2029.

Another one is to just go home and find a job. I'd lose the Rule of 55, so feasibility would mostly depend on the real estate market by then - and I'd probably have to work longer. OTOH, I could get a mortgage instead of paying cash. That's the least desirable option, from a financial POV (also knowing that finding a job at 52 or 53 isn't a walk in the park).

Other less desirable options are 72(t) or just live on my Roth and swallow the tax penalty for any additional withdrawal from the 401(k), since it's probably not enough to cover all my expenses, but not too far. I'd at least try to work back home before I choose one of those.

My projections put all of this around the end of 2026 in the best case scenario. Worst case, my parents start needing help or their health start to really deteriorate before then, in which case I'll put all my stuff in storage, hop on the first plane - and think later. So I'm also planning ahead for that eventuality.

But there's no question in my mind that I'll do it, because yeah, I'll work longer if it means spending time with my family before they're gone. I mean, in theory I'm supposed to work until 67, so anytime before that is a win anyway.

I wasn't going to write all of that stuff down, sorry. Guess I needed it, so thanks :)

[FI4good]

Cheers Buffalo ,

I have to be 57 here in the UK to get at my pension monies and there is talk of it being lifted to 58 so i think a cash buffer is prudent if i’m considering quitting. with shifting goal posts .

i  had FU money in 2002 so i had the years 2002 -2007 off , that’s why its “FI for good” this time.
20 years back at soul sucking inc wasn’t what i expected but life sometimes happens at ya !

Good luck everyone, keep to the plan ( or improve it :0) )

[caracarn]

So have not posted here or been on the forums for a while, might be around 2 years, except for updating the tracking thread once in a while.  Last time I did that was January 2024.

So I'm really likely 2030 because we have a Type 1 diabetic son who turns 26 at the end of July that year and will then have to find his own insurance.   If not for that we'd likely be able to pull the ripcord now or very soon.   Investments sitting at a bit over $1.1M and we need between $1 - 1.2M to hit our low and high targets ($40K to $48K a year).  I'll be 60 at that point so not super early retirement but I guess 7 years is something right?

My thoughts have more recently shifted to can I keep the job I have until then and with corporate America things are always dicey so it causes me a good amount of stress.  At this point I work from home, job is pretty simple for me as I know my role very, very well and our team is well respected.  We're a bit of a special forces team in our company having a very small group of elite performers that get assigned to fix the biggest problem of the year and have established the track record of delivering for several years.  Recently my boss has had health issues though and been bed ridden since the start of June and not sure if the company will allow them to continue indefinitely in that state.  We do not need to travel and they can do what they need in that state as long as management does not decide they can't.   I do not think if we get a new leader that the situation will remain the same and looking for another role is not something I'm at ALL excited about. It all honestly has turned what should be a happy time, nearly having enough to step away into a sad time as I dread the next 6 years of going through the motions because there is not a financially viable option that my wife will accept.   I've talked about the medical insurance thing on these forums before and suggestions of son could in essence emancipate and then we are not liable to cover them is the gist of what I got.  It's a pretty cold option and one that would frankly end with me dropping my investments to 50% of where they are after we divorced. 

It's nice to see folks hitting their targets, some early.  Knowing that we could be one of those except for the above reality also hits negatively for me.  I know the politics forum is elsewhere so will not dig much into that here, but suffice it to say I think there is one viable option in the US to have things stay stable and it amazes me we have so many people thinking differently that the results are even in question.   So perhaps all our plans will collapse as the financial model we live under will be upended entirely and we'll all be stuck working longer than we want for a myriad of reasons.

Don't want to drag the mood down, so will stop there.   

It is amazing to me as I look at our NW, that the daily increase today ($17,241) is over 5X what I made in an entire year of working when I was 16 nearly 40 years ago.   I'm also wrestling with how to best advise our kids who are just getting past those first working years as to how they can replicate the same results over the next 40 years given the outrageous housing prices, rents and other things that make savings a pipe dream even with a college degree.   We just had a sit down with one of our college grads who is making $45K a year and was paying $1,000/mo in rent and was just told her rent was going up 30% to $1,300.    I never had to deal with such insane shifts in housing costs when the budget was so tight.   We looked through her budget and she's not really wasting on much of anything and moving costs money and it's not as if the market offers any real options.  Low cost rents are not in safe areas and there is no guarantee if she did move again (she just moved a year ago to avoid another rent increase that was not quite as high) that she'd not get the same result.   She just became eligible for the 401(k) at her job after being there a year but not sure she has any room to save anything near the company match amount if anything at all.  A big part of our NW is the fact that the home I bought when I divorced for $224K in 2011 is now estimated to be worth $417K on Zillow.   That result helps me, but makes the barrier to entry for our kids into home ownership the opposite of easy.   Two sides to every coin.  It's hard not to feel guilty for our good fortune when I see how the same things I cheer create impossible barriers for others. 

Hoping I can keep looking for the upside as I float along and here as always to chat with folks who are working away at the same goal.     

[BuffaloStache]

Sorry for the delay in this reply, but I wanted to take time to read through your very insightful post, @caracarn - thanks for sharing and giving that perspective.

Your timeline makes sense given your situation. It may not be the popular thing on these forums to agree with someone to work past when they hit their "number", but honestly each person is different, has different motivations, and well, uh, life happens. As I get closer to my initial "number" (which is based on an 'average expenditure' formula that I created ~9 years ago), I'm realizing that it is important to step back and re-evaluate as you get near the final quarter of your FI journey. If that means you may end up working a handful of extra years, so be it, but it's better than being woefully unprepared, retiring to a life that isn't the way you want it to be, or even worse destroying some of your important relationships (as could potentially be the case with you). Your story is a perfect example of that. However, looking for a silver lining I do think there are some potential positives in your situation:

• If your work situation does go belly-up in the next 6 years and you get laid off or lose employment another way, you'll have one less thing to worry about. Yes, finding a new job is soul crushing and not fun, but if you don't truly need the income (or at least don't need it right away- COBRA is expensive but will continue your healthcare coverage for 18-36 months after leaving any US job in like 90%+ scenarios), then it may take some of the pressure and stress out of finding that "end job".
• Since you are effectively at your FI number now/soon, then every dollar that you earn in income today can go towards reducing that 6 year duration if you want it to. Even though the costs are likely to be very high, you can go get quotes for how much an equivalent health insurance would cost for your son on the private exchange/market. Then you can work for a couple of years to build up enough capital to pay those higher costs until your Type 1 Diabetic Son turns 26. This may result in you only needing to work 4 years and then self-fund your son's insurance for 2 years, or something like that; but it could very easily open up an opportunity to retire ahead of that 6 year timeline.
• If the previous bullet doesn't work out, then you could also continue to save for the next 6 years above and beyond your FI number. This could be used for several things like i) increasing your 'cushion' or safety factor for retirement, ii)Opening new investment/savings accounts for $$ to give to your kids in the future to help out with many of the things you mentioned in your post (high housing costs, low salaries, etc.) iii) donating to causes you care about; or any combination of the above.

I'm in a different stage of parenting (my oldest is still <10yrs old), but I think about your last paragraph a lot: I believe the economic landscape made it much easier for ~Gen X/Millennials and older folks to achieve FI than for Younger generations. But I also think that things were likely harder for me to get to this point than someone born (with the same starting characteristics/skin color/etc.) in  1948, and I still found a way. And the other side of the coin is that I could choose to work longer to give my kids a bigger 'oomph to their starting 'staches, but I don't want to spoil my kids and/or devalue the importance of working hard and having a strong work ethic. I'm still grappling with this today, but my initial plan is to work a couple years after I hit my FI 'number', in the hopes to be able to strategically give my kids some larger financial gifts down the road without completely spoiling them (e.g; maybe wait until they buy a car and take out a loan, only to then pay off ~50% of that loan as a lump-sum early payment or something... I don't know, still trying to figure it out). If you end up working ~6 years longer than needed, then you certainly could help do things like this to ease their burdens and set them on the path to financial success...

Finally, retiring 7 years ahead of 'normal retirement age' is ABSOLUTELY SOMETHING! Life happens to everyone differently, and I think any time saved from 'normal retirement age' is a victory of the FIRE mindset. Congrats! 

[FI4good]

Hey all,
 Doing the math again and again at the moment as anxiety has set in a bit with contemplating an earlier date .
Mine is quite a thin fire compared to some of the numbers i see around here and it adds to my anxiety sometimes

I have to remind myself:-

 it’s not a race,

there is no win or fail it’s just life, just i’d hope a better quality and healthier life without my daft job getting in the way of living my life.

 that 6 or 12 months more or less probably isn’t going to effect the long term viability of the stash,

that i’m still useful and employable / enterprising enough so if the sequence of returns risks come at me i can work part time in a shop , make stuff , do stuff or pick up contract work for a few weeks,

i can minimise outgoings , i could manage on the equivalent of $10,000 usd a year , it might not be fun but neither is earning 10x that and having lots of stress,  telephone calls and emergency call outs , feeling like a witness to a crazy man poorly handling pressure in a crazy job .

After the boring middle does there come an era of renewed anxiety ? am i really going to do this thing ? 

Good luck all

[BuffaloStache]

Well said- it's not a race, and we're all after individual results that enable us to live better lives. How each of that defines that may look very different, but in the end these principles of aggressive saving + frugal living will help us to reach our goals faster.

Also,

...
After the boring middle does there come an era of renewed anxiety ? am i really going to do this thing ? 

This is what I'm worried about. As I approach/surpass the "80% to FI" milestone, I'm beginning to have fears that I've calculated "my number" incorrectly, and that maybe I actually need more than I thought. My goal is to spend some time in Q4 this year to really self-reflect on what it is I need, I want, and other things...

Keep on keepin' on, fellow '29ers...

[pasadenafr]

Well said- it's not a race, and we're all after individual results that enable us to live better lives. How each of that defines that may look very different, but in the end these principles of aggressive saving + frugal living will help us to reach our goals faster.

Also,

...
After the boring middle does there come an era of renewed anxiety ? am i really going to do this thing ? 

This is what I'm worried about. As I approach/surpass the "80% to FI" milestone, I'm beginning to have fears that I've calculated "my number" incorrectly, and that maybe I actually need more than I thought. My goal is to spend some time in Q4 this year to really self-reflect on what it is I need, I want, and other things...

Keep on keepin' on, fellow '29ers...

This is the last step before OMY :)

Joke aside, I think it's normal. The boring middle means your brain will find something to busy itself.

Just remember that you have options, but there isn't much you can do about it now beyond what you're already doing and driving yourself crazy. Decisions and final numbers will be clearer when you're about to step on the finish line. No need to worry so much about until then.

[FI4good]

hey all,
 I hope all our friends here are safe and well after the hurricane.

Getting ready for FIRE , still a way to go yet and a lot of life can happen in 3 years !

This month i have moved my banking around :-

Before i used to have my salary go into a general account, a fixed amount automatically transfers to a bills account.
Whatever was left in the general account was then used in a bit of a haphazard way through the month with some going to savings.


I now have 3 accounts,
The 1st is where all income lands and from that ,
the general account gets an automatic £100 a week,
the bills account gets a set amount once a month.

For a lazy person who is sometimes tempted to spend all the money in the general account this should help ease me into my £100 a week  budget.

I decided to pay myself friday as it’s nice to feel rich at the weekend:0) and  i don’t mind freezer raiding / pantry food, making do with whatever there is weds thurs if ive spent all my “pay” .

Kinda simple compared to a lot here but i guess we got to do what works for each of us , spreadsheets and micro budgeting will never be my thing .

i know dropping 15,000 once a year into the general account as a lump sum would not assist my budget or keep me focused on spending , so this is how i’ve decided to try and set myself up for winning post FIRE . I have 3 years to get used to it and build regular habits.

Best wishes.

[ChickenStash]

I've been running a bunch of sims lately and the numbers they return say I should be able to throw my lot in with the '29ers so here goes nothing. Tough to say how well it will work out without a crystal ball, though.

I've only known about the FIRE movement and MMM for about 3 years. I've always had a fair savings rate by normal society's standards but I never really looked at how to retire early until I found this place by accident when researching what to do with an old 401k account. What a surprise it was to run some numbers and see that retiring early was actually possible.

Fast forward 4 years, I'm at about 90% of my LeanFIRE goal and still on track for my desired numbers so things are doing well. Since that post I've switched jobs a few times and increased my yearly savings in raw dollars without much lifestyle inflation so the overall rate has increased a bit.

I've been tossing around the idea of switching from full time employment to short-term contract work when I get above my lean number. Maybe 3-6mo contracts worth enough to cover expenses but not enough to add significantly to savings. I guess it would be a CoastFIRE scenario, just letting the stash do the work. It would add a few years to the overall plan but having off half the year is appealing. It would be mentally difficult to go from a pretty stable W2 life to a more unpredictable contract life, though. Fun things to think about, anyway.

[henramdrea]

Hey all,
Been a minute since I've posted up on here for a quick check in.  Still on track, still in that boring salt-mine known as the accumulation phase.  I waffle around between '29 and '30 as I still have a teenager at home who will be 20 and graduated at that point.  Honestly, that's really what keeps me in the working game right now, providing for the family (as you do).
The McClown house is still appreciating nicely, but will need some major renovations before it goes on the market in about 4 years.  Pool deck, garage doors, upstairs flooring, maybe a roof (ugh...and I've got friggin' rooftop solar!).  Even with all that, I should be able to clear an extra 120K and have enough to pay cash for a down-sized box to live in.
I'll be 62 in '29, so that's still the hopeful plan:  claim early SS, work a little (seriously, like 1 day a week max), have the spouse continue to work as they're able or want to.  Or it's '30 at 63 with same sort of plan.  Really ends up coming down to how quickly the last kid's able to get on her feet.

Anyway, it's nice to browse the last few pages and catch-up on how y'all are doing.  Glad to hear most of you are still on track or even ahead of schedule.  Everyone stay safe, remember to vote, max out those retirement accounts before the end of the year!

[FI4good]

New 3 account system for spending, savings and bills is working ok .

Nice to automate things so it’s easy to do the right thing each month.

37 months to earliest point of corporate quit window but will most likely do a 6 month sabbatical as a safe exit .

keep on .

[BuffaloStache]

Thanks for the updates, all! I'm starting to get close enough to my goal (almost at ~90% of LeanFI), that I'm thinking about re-evaluating the end point. My goal is to not tack on OMWs here and there spontaneously, but moreso to have a plan ahead of time about what my goals are, and how I define when I've met them.

...still in that boring salt-mine known as the accumulation phase...

Love this phrase for it, never heard that before.

Also, @FI4good , it's awesome that you have a 6 month sabbatical option! At my job I think I could take ~2 months off max, but after that I would lose my position.

[FI4good]

Cheers Buffalo ,
 Luckily i work for a good employer in the UK and am appreciated , i am wasting the time of my life away though but don’t yet have the finances available to live according to my priorities, not long now though :0)

Hey everyone,
Under 4 years and 2 months to go till jan 1st 2029 .

[FI4good]

0.4m USD liquid assets just surpassed.

Still one of the best global economies .
Still has vast natural resources .
Still has enough land to be self sufficient in food despite climate change .
Still has a decent demographic profile of future consumers, certainly for the remainder of my lifetime.
has a bit of debt but not the 300% of japan & japan still functions so plenty of time to see what other countries do who are in more dire straits.

so am keeping on , keeping on investing, dca into VUAG .

[caracarn]

Buffalo, thanks for the thoughtful reply.  Have not been back here since I posted in July.   Now that I know the world is likely set to get a bit chaotic at least I have returned.   I see several of the Project 2025 proposals that are likely in our future creating a big headache for all our FIRE plans not to mention our current lives.   Still pretty raw with this and having a hard time looking at my neighbors knowing that about half of them voted for this chaos.   Returning to MMM to try to see what the conversations and concerns are like right now. 

[maisymouser]

I went through and updated a case study (with journalistic musings) that I did not carve out time to update for a year and a half. You can find it here.

tl;dr We are still chugging along and I need to better track expenses/assets. RE still seems far away and the political/economic climate in addition to future personal unknowns has me questioning how solid 2029 is for RE, but so far we're still on track to FI by then.

[BuffaloStache]

... RE still seems far away and the political/economic climate in addition ...

This is a great point, especially considering that I am US based (like you) and pretty uncertain about how things will be in the near future. I think if nothing else my goal will still be to achieve Financial Independence at or before 2029, but pulling the trigger on full RE may come later. This is especially true if I can try to work out a downshift to part-time or something like that at my job. More to come...

[Jade]

Posting to follow.

I'm aiming at mid 2029 when I'll be 53. I'm already part time and going more part time next academic year (I work in student support at a university). I manage work with some (improving) health issues so the last four years will ease me into full FIRE.

[BuffaloStache]

Welcome! We're glad to have you and hear your insights and perspectives.

One initial thing came to mind:

(I work in student support at a university)...

I'm probably way over-simplifying this, but this seems like an awesome glide-path to RE role. Were you always in this field or is this something that you pivoted to later in life? How did you get into it?
Again- welcome to the '29ers Cohort!

[Jade]

Welcome! We're glad to have you and hear your insights and perspectives.

One initial thing came to mind:

(I work in student support at a university)...

I'm probably way over-simplifying this, but this seems like an awesome glide-path to RE role. Were you always in this field or is this something that you pivoted to later in life? How did you get into it?
Again- welcome to the '29ers Cohort!

Thanks for the warm welcome @BuffaloStache !
You're not oversimplifying at all.. it is a pretty sweet path to RE on the whole! I'm 49 and have been doing it for nearly 15 years. I got into it through my psychology degree, coaching background and other experience. I work 1 to 1 with students and i love the work (usually lol) and it's a good balance of "employment" and flexibility and pays a good rate. I work mainly term time too so have a lot of the year off or at a lower work schedule (term time is 30 weeks). I'd recommend it to others who have a similar interest or background, for sure... Mr Jade was an mmm-er before we knew about mmm so I have him to thank for getting us to this position where I can work so flexibly!

[FI4good]

Welcome along Jade :o)

Hey all ,
 House sale still not happening after 10 months, off the market over Christmas and will re-market for spring. I feel london is slow but the rest of the UK is still turning over ok . A bit stressful as it is the money for a home in a lower cost area in 24 to 36 months time.

I have to remind myself the stress is only caused by the want to achieve something by a completely arbitrary timescale , with a bit of worry as to where property prices are headed.

Climate change, despots, neuclear war, hybrid war, global trade war my inclination is to lean more into FIRE and living the time of my life more fabulously , this planet is still beautiful and glorious despite the abusers and their darkness.
keep on !

[Jade]

Thanks @FI4good

We're outside London now (I was brought up on the outskirts) and find where we live is a pretty slow market too. Your reminding yourself of the arbitrary timescale sounds helpful. I also love what you said about living the time of your life more fabulously!

As I mentioned to @BuffaloStache I have a pretty good work set up with moving towards FIRE but some recent staff charges have led to a feeling of unappreciation and a bit of an atmosphere of frustration and fear for me and my colleagues. I'm lucky that I don't have too much interaction with other staff usually but am aware, with having anxiety of also trying to tune out the unnecessary and lean into my slope to FIRE, whilst also living fabulously!

[HeadedWest2029]

My 2024 end of year stat, the only one I really care about...savings rate
http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

56% savings rate for 2024.
Started down the path to FI in 2014.  My average savings rate is 59% since 2014.
2024 was another expensive year and I'm not sure I can call myself mustachian anymore, but we bought a new to us 2022 Chevy Bolt EUV and I went on 4 trips (2 family, 1 guys trip, 1 spouse trip), so I at least have that to show for it.
FI at this point, but not RE.  Only 4 more years to 2029, but I may exit before then!

[caracarn]

So big news in case you did not see some other threads of mine.   My wife an I are under contract for what will be our FIRE home that we are buying with no debt.  This clears the way to eventually sell the current home and be mortgage free.   Some interim years with some adult kids that are attending college still to get through before we likely would list the other home and get back out cash to re-invest.   So net worth wise we still remain above our FIRE target, but not in sources we could tap and live off of so still not able to be FIRE.   Again we still have four on medical insurance to age out so dates for FIRE still the same but this housing situation changed in a matter of 3 months and moved from not moving to moving in 1 week, so they may find jobs and get their own insurance earlier and then we can be free!  :)   But yes, it's a bit of relief knowing we actually are less than two months away from closing on the biggest part of our final FIRE plan, the mortgage free home we will live in.

[BuffaloStache]

Happy New Year fellow '29ers!

...we bought a new to us 2022 Chevy Bolt EUV ...

Congrats, HeadedWest2029! We also have a Bolt EUV and absolutely love the car. Especially with all of the tax incentives, while still not being the most mustachian car it is a really great value for a car, so I'm all about that.

under contract for what will be our FIRE home that we are buying with no debt.

Good luck Caracarn! I'm keeping my fingers crossed for your family.

My holidays were full of family (good), but far too busy (bad). Now work is trying to start the year off like a drag race- I'll probably come back here and update my year-end stats in a week or so...

[HeadedWest2029]

Congrats, HeadedWest2029! We also have a Bolt EUV and absolutely love the car. Especially with all of the tax incentives, while still not being the most mustachian car it is a really great value for a car, so I'm all about that.

I love the perks of an EV (no oil changes, no freezing fill-ups at the gas pump during the winter, one pedal driving) and just the sheer technological leap going from a 2003 car to a 2022 car (adaptive cruise control, IntelliBeam headlamps, blind spot warnings, Android auto, cameras everywhere).  It feels like such a huge leap and for not that much in the grand scheme with all the incentives.  Highly recommend

[FI4good]

Hey 29 team ,

 House sold ! phew .

Osteoarthritis in my knee playing up with the turn of the season , a reminder that time is passing and good health is not guaranteed.

Think things are ok for a mid 27’ fire. Happy to be flexible depending on the economy we find ourselves in .

Things might happen sooner or later , we’re both trying hardas a couple to gauge the line between financial security and the time of our lives .

[caracarn]

Good luck Caracarn! I'm keeping my fingers crossed for your family.

So home closed over a month ago and we just spent 10 days down there having taken a 15 foot U-Haul with some things down to lower the cost of the big move at the end of May.  We loved it.   My wife and I are both so happy with the home and just getting to spend each morning watching the sun rise over the mountains and such really spoke to our souls about exactly why we wanted to retire in this area.   Came back up to Ohio Sunday and will be here for about two months and then down there.   Changed over our licenses and plates and then moved cars to insurance down there so things are coming together as planned.   We had a good list of things to get set up and done and were able to even get a few more things hammered out so could not have gone much better even with a few hiccups here and there.   Lost about $70K in net worth since the start of the year as the markets keep cratering with the Fool in Chief and His Jester in charge.   At this point weathering that and seeing if they make us all rethink our FIRE plans as they blow up social security.   Those are my worries right now but I will be able to do it in a prettier setting.

[BuffaloStache]

... 
Lost about $70K in net worth since the start of the year as the markets keep cratering with the Fool in Chief and His Jester in charge.   At this point weathering that and seeing if they make us all rethink our FIRE plans as they blow up social security.   Those are my worries right now but I will be able to do it in a prettier setting.

Yea, I think that's a fear that all of us US-based folks have that are working towards FIRE. I've purposely tried to avoid depending on Social Security in most of my FI/RE calculations, but I do have fears that we're headed towards a handful of years with underwhelming market returns and that the already unsteady picture for RE-Health Insurance options will get even muddier.