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First time post - Hi.
Old 07-20-2007, 10:26 PM   #1
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First time post - Hi.

Like my handle, I work for a large financial corporation.
Married with 2 kids with another on the way, we live in the NYC area.
My wife is a RN in a ICU of a major trauma center.

So nice to be in the company of likeminded folks.....the road to financial success has been lonely and hard.
After two decades of busting our butts, saving pennies and making smart /aggressive investments, we've reached some milestones:

200k combined income
700k in retirement (rollover, roth, 401k, 403b, ESOP, union pension)
80k in 529plans
rental property/no debt worth 120k
100k in various aftertax investment accts
250k primary residence with 97k left in mortgage
no debt
stellar credit
pair of trusty old Volvos (pre-Ford) with 120k miles each (good for another 100k or when the wheels fall out )
minivan for the growing brood

Really wanted to make the 1mm mark for the 40th birthday and I did it.
Now, I need to set new goals and try hard not to lose the 'hungry attitude' until we can retire early.
I look forward to all of your feedback and suggestions.

God bless this wonderful country of ours that allows us life liberty and pursuit of happiness.
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Old 07-22-2007, 08:56 PM   #2
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You've done well for yourself. In fact, if you're willing to move out of expensive NYC, you have plenty of $$ to retire tomorrow. What are you waiting for?
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Old 07-22-2007, 09:17 PM   #3
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You're getting here, Salaryman.

Have you discovered Firecalc (link at bottom)? It is a big help in obtaining a sanity check as to whether you're on track.

FYI, most planning does not include equity on your primary residence, though it can become relevant if you downsize or have big payments, etc. Otherwise, the thinking goes that "everyone has to live somewhere."

Anyhow, welcome aboard, and nice going on your FIRE plans. Sound to me like you are on track.
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ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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Old 07-22-2007, 10:19 PM   #4
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Thanks for your comments.
We've been in NYC due to family and work reasons but may need to relocate closer to Philly soon for the Mrs' grad school.
Until we hit the magic number, I can't see moving away from the major metro areas where mega-corps usually are.
I'll work with the calculator, it'll be a change from the well worn spreadsheet that I've been working with all these years.
Once my wife's done with school, we can turbocharge our game plan and be closer to our goal....if we can live through it.
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Old 07-23-2007, 12:55 AM   #5
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Lots of nice communities in and around Philly. Don't let all the bad press about Philly scare you away. DH and I live in the city and it is not as bad as the nightly news depicts. We are not wearing flack jackets .

You still work and have kids. I cannot say anything nice about the wage tax or the public schools so for that reason the burbs may be your best bet. DH and I are empty nesters so we did not have to take those things into consideration. Lots of New Yorkers living in Philly and working in NYC. Must be a hell of a commute.
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Old 07-23-2007, 07:53 AM   #6
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Quote:
Originally Posted by Cattusbabe View Post
Lots of nice communities in and around Philly. Don't let all the bad press about Philly scare you away. DH and I live in the city and it is not as bad as the nightly news depicts. We are not wearing flack jackets .

You still work and have kids. I cannot say anything nice about the wage tax or the public schools so for that reason the burbs may be your best bet. DH and I are empty nesters so we did not have to take those things into consideration. Lots of New Yorkers living in Philly and working in NYC. Must be a hell of a commute.
We lived in the burbs of Philly for 15 years. We loved it there. I agree, lots of nice places to live in the area. Salaryman, any idea where you may want to live near Philly?
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(49, married; DH 53. I am fully retired as of 2015 (well ok, I still work part-time but only because I love the job and have complete freedom to call off if I want to travel with hubby for work), DH hopes to fully retire 2018 when he turns 55 to access 401K penalty-free...although he may decide to do part-time consulting)
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Old 07-23-2007, 09:26 AM   #7
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Welcome! Looks like you are well on your way to ER. How many more years until you do retire?
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Old 07-23-2007, 10:04 PM   #8
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Originally Posted by Dawg52 View Post
Welcome! Looks like you are well on your way to ER. How many more years until you do retire?
That's the million dollar question.
The magic number seems to be a moving target (upwards only from what gather).
At this point, anything north of 5mm would give us a great comfort...should be anywhere from 5 to 10 years.

How about you, Dawg? have you already ER'ed?
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Old 07-23-2007, 10:17 PM   #9
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Quote:
Originally Posted by Cattusbabe View Post
Lots of nice communities in and around Philly. Don't let all the bad press about Philly scare you away. DH and I live in the city and it is not as bad as the nightly news depicts. We are not wearing flack jackets .

You still work and have kids. I cannot say anything nice about the wage tax or the public schools so for that reason the burbs may be your best bet. DH and I are empty nesters so we did not have to take those things into consideration. Lots of New Yorkers living in Philly and working in NYC. Must be a hell of a commute.
So I am gathering from my research so far.
It won't be pleasant at all, but it'll only be for 3 years until she's done with school.
We haven't settled on a specific area yet (still a year away before we pull the trigger) but the basic needs that will need to be met are:

-short dist from Philly (UPenn, Drexel, Nazareth, Thomas Jefferson & other Hospital/schools are what we're considering...all in Philly)
-burbs with decent schools (promised myself that at least we'll have a backyard+pool if we're going to go through this exercise)
-relatively easier commute to NYC (bus to NYC, park and ride or NJ Transit trains)

I've heard alot about Yardley/Pennsbury area but not sure about the ease of commute. Any suggestion about where to look would be very much appreciated.
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Old 07-31-2007, 06:41 PM   #10
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Originally Posted by Salaryman View Post
So I am gathering from my research so far.
I've heard alot about Yardley/Pennsbury area but not sure about the ease of commute. Any suggestion about where to look would be very much appreciated.
I'm not familiar with Yardley but I was just surfing and happenned to run across this housesitting opportunity in Yardley:

House Sitter wanted housesit for bpearl in Yardley Pennsylvania United States house sitting

Not sure if it would benefit you, but when I read it, I remembered this thread and thought I'd pass it on.
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less stuff, more time

(49, married; DH 53. I am fully retired as of 2015 (well ok, I still work part-time but only because I love the job and have complete freedom to call off if I want to travel with hubby for work), DH hopes to fully retire 2018 when he turns 55 to access 401K penalty-free...although he may decide to do part-time consulting)
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Old 08-06-2007, 10:21 PM   #11
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Originally Posted by simple girl View Post
I'm not familiar with Yardley but I was just surfing and happenned to run across this housesitting opportunity in Yardley:

House Sitter wanted housesit for bpearl in Yardley Pennsylvania United States house sitting

Not sure if it would benefit you, but when I read it, I remembered this thread and thought I'd pass it on.

Thanks for the information. We'll most likely buy a house since we'll be there at least 3+years.
With the way the credit/housing market is going these days, we're hoping some opportunities will come our way.

Regards,
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