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Old 07-04-2007, 05:00 AM   #701
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Age: 21
Net worth: 15K (euro), all cash
Occupation: Student, consulting internship

Financial ambition: No fixed goal, although I have this ambition of reaching my age in million euro. Practically, my ambition is to invest 80% of my after tax income and to spend 10% of the passive income, while re-investing the rest. all this should get the snowball rolling hard.

I don't really care about frugal living when only cents are involved (eg looking for coupons for a supermarket), but I am extremely frugel when it comes down to liabilities (cars, home equity, ...).

Whether I will be able to live by my rather ambitious financial plan during the first years of my career (read: lower pay), depends on the initial job I chose: http://www.early-retirement.org/foru...-my-28624.html
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Old 07-04-2007, 06:53 AM   #702
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Hello everyone,

I'm 31 y/o married accountant. We're hoping to have some children within the next few years.

I've been reading and enjoying the site. Lots of great info.
I'm just looking for ways to get closer to contributing 15k (each) to our 401k's each year. We live in MA with a higher than average COL but I see others managing to do it! I also have about 45k of student loans to keep paying off!
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Old 07-04-2007, 07:44 AM   #703
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Hello everyone,

I'm 31 y/o married accountant. We're hoping to have some children within the next few years.
Hello When? Let me guess - your spouse is Where? You plan on having two children, Who? and What? And if a third one comes along you'll name it Why?

PS: Welcome to the forum.
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Old 07-05-2007, 08:02 AM   #704
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Only about 8 months to go until my DH and I retire. I will be 57 and he will be 58. Looking forward to reading the posts here and sharing information.
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Old 07-05-2007, 09:01 AM   #705
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I am still working but considering ER. My son is moving from South Africa to Indiana,USA and I thought of combining my early retirement with an extended visit to him and seeing some of North America. My wife and I are both seasoned hikers/campers and I was wondering how long one could make $50000 last and am looking for suggestions for an itenary.
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Old 07-06-2007, 12:12 PM   #706
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53 and Ready to Jump

Hi, all. I'm a self-employed consultant in Southern California. I guess some people might think I'm already half way to being FIRED but dealing each day with incompetence, ignorance and the Peter Principal doesn't make me feel that way.

My partner and I are both 53 with about $1.1 million in stocks and bonds ($630K in stocks and tax advantaged bonds in our taxable investment account , and the balance in stocks/funds in rollover IRAS and 401(k)s. We owe about $65K on a house worth about $800K so that should be paid off in a couple of years.

I'm ready to retire now (or at least reinvent my life). My hope is to work part time just enough to cover our expenses and let the nest egg grow untouched for the next 6-8 years.

I guess I have three areas I want to explore in this forum:

1. Does my plan make sense (given the high cost of living in California)?

2. If I decide to move to a state which has a lower tax burden, where can I find a location with weather as close to Orange County as possible? (Call me spoiled - I've lived in Southern California all my life and I'm not sure I can handle extreme heat, cold or humidity). I've found information on state tax burdens, but so far no "comfort index" to help me decide where to relocate. Sperling just gives a rating when you plug in a location. I'm looking for a comfort index which would help me to narrow down my choices.

3. I've checked some of the "Best Places to Retire" websites but don't trust them at all. (Riverside, California is a good place to retire) Any ideas on how to find cool places to live that take into consideration the restaurant and night life available? (Sort of like San Diego Gaslight District without the high prices.)

4. Does anyone have advice on what to do if you have a workaholic for a partner who doesn't want to retire any time soon -- if ever?

Sorry this is so long. I've never participated in a forum before so I'm not sure of the etiquette.

Thanks for listening....
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Old 07-06-2007, 12:45 PM   #707
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Welcome to the board, Games. Lots of collective wisdom here.

I like the idea of semi-retiring and working enough to let your nest egg grow untouched to the final number over 5 years, and will be doing that myself. The downside is that if you don't have enough cushion, there is no guarantee that the market will grow your investments as fast as you hoped.

In that case you are either gonna take a cut in lifestyle or work longer.

Bob Clyatt wrote a book on this concept - highly recommended. He visits here as ESRBob once in a while. Great guy, great book.
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Old 07-06-2007, 01:02 PM   #708
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Thanks, Rich.

That's my concern, too. That medical expenses and inflation will take bigger chunks than I planned for.

Of course, life has always required rolling with the punches -- I suppose retirement will be no different....
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Old 07-06-2007, 01:28 PM   #709
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That's my concern, too. That medical expenses and inflation will take bigger chunks than I planned for.
Feel free to post any specific questions in the appropriate forum. Chances are that someone has been there, done that.
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Old 07-06-2007, 02:24 PM   #710
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Welcome When?, Wonomo, SouthAfrican, and Games. Lots of good information shared here.
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Old 07-11-2007, 10:49 AM   #711
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Hi I'm am a 62 year old and I recently retired. I'm on Social Security and I get a retirement check from the government. I am an avid golfer. I have approx. 60,000 in stocks and mutual funds and one home paid for and a rental home that is paying for itself. My wife and I travel quite a bit since retirement to take care of business and see the kids and grandkids. We are doing ok and hope some day that our day trade investments will supplement our retirement.
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Old 07-13-2007, 08:01 AM   #712
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I have recently been downsized as a result of a Mega-Merger. I am 45, (Chemical Engineer) and will try to stay out of the rat race and live on my investments until I officially start to draw SS at 62, and a modest pension at 65. I ran the numbers (Financial Engines) and I should be able to count on an annual draw of $45K for at least 30 years adjusted for a 3% per annum inflation, so I will begin training as a self made middle class early retiree. I want to travel. I have a home, absolutely no debt, but no pension until I turn 65 and no medical insurance. But, I can figure all this out and may choose to move offshore and lever my modest income where it will work the best. Though I am a naturalized US citizen, I was born & raised in Russia, (still have a valid CIS passport). I could live cheap over there, and medical care is "free" so long as you have some money to pay the Doctor under the table! But that place has its own set of problems. I have lived in the States almost twenty years, like my life here and would only enjoy the old country for family visits and long adventures. Anyway, I am taking an extended 'time out" that I know has the real potential of being way more fun than having to run my life by the factory clock.

By the way, I speak perfect English without an accent, and fluent Russian, and know if I had to find a job there are plenty of them out there that pay well for Chem E's willing to work in the Russian oil industry. I just don't want to listen to another company slogan or mission statement no matter how much some clown is willing to pay me to have to sit there with a closed mouth and open ears.
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Old 07-14-2007, 10:08 AM   #713
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Hi there

I restore VW Karmann Ghia's as a hobby, hence the kingkarmann username.
During the last part of 2006 I recieved a substantial (for me) esop payout. My goal has always been to work towards retirement along with the status quo but figured I would not have the luxury of considering the move early. I have spent some time lurking here and there seems to be wealth of good information.

I rolled my payment into a group of funds that was recommended to me by a family member. I am satisfied with the performance and feel confidant that with some research and insight from the members here I might be able to make the move by age 55. Am I dreaming !!
I have 300k in those group of funds. Additionally I have 25k in a company 401. I buy a share of stock per month from my employer through a payroll deduction. A pitance ! My wife is 39 and works part time. She is starting a business and is seeing early success. Any and all thoughts are needed and welcomed !
Thanks for having me.
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Old 07-20-2007, 10:11 PM   #714
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first time post

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 07-27-2007, 02:55 PM   #715
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Hi everyone -

Pavo here. Long time lurker who finally registered.
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Old 07-27-2007, 03:42 PM   #716
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OK Pavo, what did you like while lurking? Whats your ER story?
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Old 07-27-2007, 04:54 PM   #717
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Hi Yakers -

Somehow I knew that was coming...

- Single, 25 year old white male, hoping to stay that way for a while but I have a habit of getting in trouble with the opposite sex. Kidding aside, I would like to marry in a few years.
- I did investment management consulting for 2 years out of college (hedge funds, mutual funds, plan sponsors, state pensions, etc.).
- Joined a smaller financial software company about 6 months ago doing new product development; will probably go into investment banking next (within a year) for a 2 year rotation before going back to school full time (MBA and/or JD - depends on which schools accept me). Currently a CFA level 2 candidate.
- Combined assets (personal portfolio of stocks and a few options, 401k, IRA, company stock options, etc.) is at ~130k. ~17k is tied up in an escrow account for a new condo. purchase in the near north loop of Chicago (sadly, i-rate is a measly 2%ish). Looking to purchase a recent foreclosure from a bank as investment property as well. Long term I would like to deal with rental units, but I'm not there yet (parents did quite a bit with rental units). Lived at home after college, commuted 1.5 hours each way. Lied to co-workers that I had an apartment in the near 'burbs or else I'd never hear the end of it (or if my clients knew!). Mom and dad are never around, and I can handle the commute on a train and save a great deal of money by not renting in the 'hot spots' of the city where everyone I work with lives and plays. I'll admit it's a fun area, but you also live paycheck to paycheck due to eating out, bars and clubs, always something going on in the city and it costs money, etc.
- What would I rather do? Eh, be at the beach, sleep a little more than I do now, exercise more, travel for non-business purposes, not play with Excel as much as I do now, volunteer, be at the zoo, deal with humans other than colleagues and clients, etc., basically more of life and less of work, and less of the high consumption lifestyle that comes with working in finance (this has been the toughest part of my job - practically berated by colleagues for not going on lavish vacations, drinking with them on a regular basis, sub-designer clothing, etc. I don't want to deal with this my whole life and keep up with the Jones').
- Learned many things about money from my parents (blue collar immigrants from Europe who have done well for themselves), as well as college (business), and then from clients. Found this site a while back when searching on 'early retirement' in engines; great resource with a wealth of knowledge.
- Investing style: aggressive growth, primarily small cap and international/emerging markets. I'll forego intra-day/daily/weekly volatility for long term growth. Total portfolio returns YTD = 34.567 (should be more, but markets got hammered yesterday & today). I plan on a re-constitution in the near future and diversify some more, but I have been riding some great small caps and international stocks the last couple of years.
- My main concern with everything that I am doing is how my way of living has been transformed. In college, I was your 'average' kid. I worked, got good grades, etc., but partied, had fun, slept, etc., then when I accepted my job I turned into a workaholic. When I was in consulting I was doing an average of 70-80 hour weeks of just work, plus traveling, etc. My new role is more lax in terms of stress and hours, but IB, which I am looking into next, is not a playground either. I've come to like the fast paced, action-oriented job, albeit on the flipside I have lost sleep, social life, etc. So my original plan is to max savings and investings, then enjoy my life in my life in my 30s, 40s, 50s, 60s, and on. Ideally, I would like to teach for a paycheck (love working with people, and I love to talk, drop any knowledge which I am have - I find it similar to consulting in many ways but with less work and hours), have a family, investments, and maybe a business. I'm just afraid of getting used to the busy, busy, life.
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Old 07-27-2007, 06:39 PM   #718
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Pavo (and everyone else)

Welcome to the board. There are forums to discuss each of the areas you mentioned below, from discussing investments to find a good beach to retire to.
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Old 07-27-2007, 10:20 PM   #719
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Pavo, I have no experience in investment banking but this is a good time to LEARN about the field. Employment opportunities, however, may be hard to find for a couple years. [My personal opinion.]
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Old 07-28-2007, 12:43 AM   #720
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Pavo, 130K at 25 years old is very nice. Congratulations.
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