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New member of the ER board from Central NJ
Old 03-07-2007, 10:03 AM   #1
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New member of the ER board from Central NJ


Dear All:

I am so glad to have found this board! My goal of retiring early raises quite a few eyebrows and criticism from nay-sayers....especially in the good old garden state where conspicous consumption is the only way to live!
I am logging in a few years in good old corporate America....after which it's off to beautiful North Carolina where I can bask in the southern hospitality!
Currently, I save 20% of my salary with a 5% match from my employer in a 401K, I have a year's worth of savings in a Money Market, another lump sum in a CD, a Traditional Roth, a Roth IRA, and Mutual Funds. I try to live as frugally as I can....for most of the high dollar items, I do a cost/time analysis and try to find the best deal that I can. My biggest weakness is diamonds.....but I make sure that I save up the cash in other areas to buy them
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 10:20 AM   #2
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Re: New member of the ER board from Central NJ

Welcome to the board, citrine.

Have you set a target portfolio amount or ER date yet?
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 10:47 AM   #3
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Re: New member of the ER board from Central NJ

Welcome to the board from a fellow "Jersey Girl" (have to laugh about that since not orig from NJ - but permantly here now!)

What do you do for fun? (I am down here by Princeton)

Jen
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 12:21 PM   #4
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Re: New member of the ER board from Central NJ


My target date is July 1, 2019 with $850K...to be able to say goodbye to corporate America.

I actually work in Plainsboro and live in Somerset.
I usually hang out with my friends, write, do oil paintings, hang out in New Hope, and read.
There is a really cool coffee shop in Plainsboro that has opened up which has live bands on the weekend....there is so much to do that is free/low cost
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 12:49 PM   #5
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Re: New member of the ER board from Central NJ

Have you purchase property here yet or do you plan to? I am considering buying a townhouse down here - and letting the renters carry the mortgage, as my landlord does. My salary is too small to support a mortgage payment! (rather pathetic I think!) I house share - and that is why I can afford to LBYM. (renting this way lets me save for better things!)
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 12:57 PM   #6
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Re: New member of the ER board from Central NJ


I actually had bought a condo in 2002 before the prices took off....I sold it last year and made a nice profit which is now invested in various accounts.
I was actually supposed to move to North Carolina this spring....but a few things happened to keep me here for a bit more.
I rent currently (it pains me to spend the $990/mo.) and hope to share a house when the lease runs out next year.

The salaries defintely have not kept up with the cost of living in NJ....
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 03:17 PM   #7
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Re: New member of the ER board from Central NJ

Hi, citrine. I am a fellow NJ resident (Monmouth County). DW and I have seriously thought about relocating in a few years because the lower COL elsewhere would enable ER or semi-ER much, much earlier than if we stayed in NJ.
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Re: New member of the ER board from Central NJ
Old 03-07-2007, 04:09 PM   #8
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Re: New member of the ER board from Central NJ

Quote:
My target date is July 1, 2019 with $850K
If I am reading you correctly, you'll have to be pretty frugal to live on that amount. Assuming inflation is the same as it's been for the last 12 years, $850K will only be worth about $644K in today's dollars. If you can live on about $25K per year (today's dollars), it will be enough.
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Re: New member of the ER board from Central NJ
Old 03-08-2007, 07:18 AM   #9
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Re: New member of the ER board from Central NJ


Dear TromboneAl:

I plan on relocating to the South in the next five years....and buying a house outright. 25K to live is more than enough for me (not including if I get married or have kids from now till then...I will have to crunch numbers when/if that happens).
I try to learn a new "self-sufficient" skill every year.....last year I grew my own tomatoes and herbs.....this year I will try and grow more vegetables on my apartment deck.
I have also become quite efficient in home decorating/renovation. I would subsidize my retirement by either tutoring part time and teaching Yoga....
I just need to learn how to do some auto mechanic work....and I'll be set
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Re: New member of the ER board from Central NJ
Old 03-08-2007, 07:39 AM   #10
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Re: New member of the ER board from Central NJ

Quote:
Originally Posted by citrine
Dear TromboneAl:

I plan on relocating to the South in the next five years....and buying a house outright. 25K to live is more than enough for me (not including if I get married or have kids from now till then...I will have to crunch numbers when/if that happens).
I try to learn a new "self-sufficient" skill every year.....last year I grew my own tomatoes and herbs.....this year I will try and grow more vegetables on my apartment deck.
I have also become quite efficient in home decorating/renovation. I would subsidize my retirement by either tutoring part time and teaching Yoga....
I just need to learn how to do some auto mechanic work....and I'll be set
Welcome aboard!

Just do a little work on that diamond fixation, and you'll fit right in

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Re: New member of the ER board from Central NJ
Old 03-08-2007, 07:51 AM   #11
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Re: New member of the ER board from Central NJ


I don't know DRiP....diamonds are a girl's best friend!
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Re: New member of the ER board from Central NJ
Old 03-10-2007, 05:05 PM   #12
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Re: New member of the ER board from Central NJ

Quote:
Originally Posted by citrine
I don't know DRiP....diamonds are a girl's best friend!
Well Citrine welcome to the forum. Somerset, well whadya know, spent the last 4 months on Cedar lane in Somerset NJ. I just ERd on Dec 22nd from the Newark Public schools and we sold the house out in western nj and moved to The Raleigh NC area.

Yes it is Nice!!

Ya live a month and they send me A check!!
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Re: New member of the ER board from Central NJ
Old 03-10-2007, 10:56 PM   #13
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Re: New member of the ER board from Central NJ


Hey Newguy...you are living my dream!
I have been looking at the NC Raleigh/Durham/Winston-Salem area for a couple of years now. Due to some things that have come up....I have to postpone that dream for a little bit.....but I keep an eye out for homes and jobs in that area.

Have a wonderful time in Raleigh and any wisdom/information that you can give me will be welcomed.

I cannot believe you survived Newark Public schools.....you deserve a medal for that!
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