Author Topic: 2021 FIRE Cohort  (Read 274126 times)

Arbitrage

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Re: 2021 FIRE Cohort
« Reply #1650 on: May 09, 2022, 10:26:14 AM »
We went coast-FIRE rather than full FIRE, which is proving to be a load off of our minds in the current environment.  Since we were on what I consider to be the ragged edge of financial comfort when we made the leap, we'd be sweating bullets without the continued income, given that even most of the safe assets are down double digits, while our costs are going up much faster than expected.

It's good not to need to withdraw anything, as well as to keep saving/investing.  Sure, we're not investing anywhere near as much as we were before RE, but we're still managing to max out employer accounts. 

Fru-Gal

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Re: 2021 FIRE Cohort
« Reply #1651 on: May 09, 2022, 04:03:55 PM »
I still haven't sold any stocks but am almost out of cash. Actually if I put off a little home improvement I probably have 2 more months of cash. So this is actually really cool to me. Of course in hindsight selling some stock earlier this year would have been better, and probably having a DCA approach to withdrawals would make sense. All I did so far was deposit some dividends/gains but that wasn't much. I also have two tiny payments coming in for contract work in my passion project. I also want to create some passive income streams relating to that, and maybe get more contract work there so long as I enjoy it.

Peter Parker

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Re: 2021 FIRE Cohort
« Reply #1652 on: May 10, 2022, 01:42:25 PM »
Just celebrated our one-year retirement anniversary.  Love, love, love it!

Before retiring we hired a for-fee financial advisor to help us to decide whether to take a lump sum payment or pension.  We told them all of our hopes and dream in retirement and they ran a number of "monte carlo" scenarios to see which option would best suit our retirement desires...I always thought we'd take the lump sum, but the various models showed we would have a much better chance (99%) of doing everything we hoped, if we took the pension.  The pension was the better scenario for us, even if one of our pensions went belly-up...And so we made the decision to go with the pension--and I'm so glad we did in this market.

That is not to  say, the market downturn hasn't been concerning--We have delayed some withdrawals from our deferred comp, hoping that the market will recover.  But as of now, we are still doing everything we hoped.

Here's to hoping everyone can find some peace in this volatile market.  But have faith in your plan...history tells us what to expect.