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On the path to FIRE
Old 03-28-2004, 02:48 AM   #1
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On the path to FIRE

Great advice on these boards, and also great inspiration...I will be CC free in less than a week (my biannual Expatriate payment will allow it)...am maxing out 401k, not eligible for Roth IRA (due to expatriate assignment tax issues), 529 in effect for newborn, Emergency fund being funded to 10k...Weaknesses...gadgets, good food, good wine, and travel....
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Re: On the path to FIRE
Old 03-28-2004, 09:39 AM   #2
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Re: On the path to FIRE

Me too, but I had a bigger and more compelling weakness...sleeping until 10:30 every morning!
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Re: On the path to FIRE
Old 03-28-2004, 12:04 PM   #3
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Re: On the path to FIRE

TH is definitely my role model now.

Welcome to the board Russ! I will be CC free in 81 days (barring unexpected expenses) and share your weaknesses.
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Re: On the path to FIRE
Old 03-29-2004, 05:02 AM   #4
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Re: On the path to FIRE

What is CC free ?
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Re: On the path to FIRE
Old 03-29-2004, 07:00 AM   #5
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Re: On the path to FIRE

Credit Card?
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Re: On the path to FIRE
Old 03-29-2004, 07:24 AM   #6
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Re: On the path to FIRE

That's what I took it to mean. I am already Carbon Copy free.
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Re: On the path to FIRE
Old 03-29-2004, 08:30 AM   #7
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Re: On the path to FIRE

CC=Credit Card, as in Credit Card Debt (including those 0% interest, no payment for 2 year ones !!!)

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Re: On the path to FIRE
Old 04-03-2004, 12:35 AM   #8
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Re: On the path to FIRE

As of of today CC no longer means Credit Card for me. It means Completely Committed. I paid off my last Card yesterday...What a weight off my shoulders...and the great thing is now...all that money that was being sent to the nefarious credit companies can now be funneled into FIRE purposes.

8) : :P
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Re: On the path to FIRE
Old 04-03-2004, 12:36 AM   #9
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Re: On the path to FIRE

I just fined myself for excessive smiley usage..
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Re: On the path to FIRE
Old 04-03-2004, 02:51 AM   #10
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Re: On the path to FIRE

Congratulations!!! I am so envious, but I'll make it there myself in 75 days if I stick with my budget--that'll be difficult through spring, summer and with all these thoughts in my head of what I'm going to do with the extra money once it's paid off, but your finish and my daily countdown is inspiring me to plan more carefully rather than cheat the budget.

So what will you do now?
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Re: On the path to FIRE
Old 04-03-2004, 12:52 PM   #11
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Re: On the path to FIRE

For one I have an advantage as my semi annual expatriate payment (for "extra" expenses) allowed me to do this as well as remodel my house back home...

Now, I plan to finish funding my emergency fund to 10K (A figure that makes me comfortable) and then I will invest in after tax investments...

401k MAXED
Roth/Traditional IRA - Ineligible for Roth/Tax Deductible IRA
Contributing to 529a for Son...

Also will use some money to enjoy the food of Europe in my remaining months here===I return to USA in January 2005...

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Re: On the path to FIRE
Old 04-03-2004, 01:18 PM   #12
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Re: On the path to FIRE

Sounds like a good plan to me. Up until recently I had been imagining working towards $50k-$70k in short term savings to cover emergencies, car replacement and a house down payment. Lately, based on some discussions here I realize I can do with much less in short term savings--probably in the neighborhood of your $10k. I'll max the 401(k), and I think I'm still barely eligible for an IRA. I'll still have some left over that will go to after-tax investing. I have no dependents, partners or home, but other than that my situation will probably look a lot like yours, including some extra money going for extra entertainment.
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