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Working Hard Now So I Can Goof Off Later
12-16-2009, 02:20 PM
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#1
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Dryer sheet aficionado
Join Date: Dec 2009
Posts: 33
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Working Hard Now So I Can Goof Off Later
Just turned 48 a couple of days ago and find myself 14 years from SS ER but hopefully 7-8 years from true FIRE. Found this board from a link on the Motley Fool's RECF board where I'm known as decath.
I've been browsing on and off for the past month and like it here. Decided to finally jump in.
I have a pretty solid plan in place at the moment. Debt free except the mortgage and plan on retireing it (the mortgage) in 4 or less years. I currently contribute about 25% of my income to FIRE investments and plan on ramping it up higher once my wife gets a career established after being a SAHM for the past 25 years. I'm looking for about 1.5 mil before pulling the plug, thus going for a 60k income with a 4% SWR. I started my FIRE plans back in 2000. I originally planned to FIRE before 50. But alas, 2 market implosions, some bad investing decisions on my part and unrealized career expectations for DW has made me move the date forward several times.
A few personal items. 3 kids. 1 grown. 1 that graduates from college in 2010 and the last, my adopted precious girl, a freshman in HS.
We've been a single income household for most of our marriage and have yet to make a 6 figure income. However, a perenial LBYM type has enabled me to consistently contribute double digit % to 401k, IRA's and individual stocks.
"MultiEventer" is a track & field term that means one who competes in more than one track & field event. Usually a decathlete (men) or a heptathlete (women). Up until a few years ago when I injured my hip high jumping, I competed in Master's Track & Field competions around the U.S. Now I golf and mountain bike. Less stress and impact on the joints.
Professionally, I'm a System's Analyst that works on a legacy database system and does some web development.
I look forward to contributing some as work and family allows.
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12-16-2009, 02:22 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Hey, I know you.....
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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12-16-2009, 02:27 PM
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#3
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Dryer sheet aficionado
Join Date: Dec 2009
Posts: 33
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ziggy29, Texas Hill country. Hmm.. Can't be more than one of those!
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12-16-2009, 03:00 PM
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#4
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,472
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Welcome, MultiEventer! I'm not on that board, but looking forward to reading your posts here.
Sounds like you have a pretty good handle on what you want in retirement, and the steps you need to take to accumulate a nest egg of that size.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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12-16-2009, 03:13 PM
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#5
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Welcome to the boards, ME. Your planning seems to be paying off and the next few years will fly by.
Jump in (but be careful of that hip) any time and share opinions, advice, rants, etc. like the rest of us.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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12-16-2009, 03:53 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,203
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Congrats on your plans.... seems like you have it under control....
You in the hill country? I guess we have another Texan on the board!!!
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12-16-2009, 04:08 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Thousand Oaks
Posts: 1,111
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if you feel like sharing, what is your plan w/ regards to health insurance?
just wondering how that fit's in w/ your 60k/yr requirement
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12-16-2009, 05:18 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Welcome and congratulations on your ability to save and invest with a single income.
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12-16-2009, 06:21 PM
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#9
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Welcome to the board !
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12-16-2009, 08:26 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Another refugee from the right wing circle j**k board, eh? Welcome, decath. Are you the one that was doing the vegan thing?
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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12-17-2009, 08:33 AM
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#11
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Dryer sheet aficionado
Join Date: Dec 2009
Posts: 33
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Quote:
Originally Posted by Texas Proud
Congrats on your plans.... seems like you have it under control....
You in the hill country? I guess we have another Texan on the board!!!
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Yep. Ziggy lives in the best part of Texas. That is one of my possible retirement destinations. I love to vacation there. I live north of Dallas in a small town.
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12-17-2009, 08:36 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,003
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Quote:
Originally Posted by MultiEventer
Ziggy lives in the best part of Texas. That is one of my possible retirement destinations.
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Sorry, we're full. Feel free to put your name on the waiting list.
__________________
Numbers is hard
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12-17-2009, 08:50 AM
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#13
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Dryer sheet aficionado
Join Date: Dec 2009
Posts: 33
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Quote:
Originally Posted by mh
if you feel like sharing, what is your plan w/ regards to health insurance?
just wondering how that fit's in w/ your 60k/yr requirement
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Great question. My plans are to accumulate as much as possible in my HSA between now and my FIRE date. Currently, my company provides a HDHP/HSA option and I take fully advantage of. I hope to have in the neighborhood of 50k by the time I FIRE. Then, I plan to get a high deductable plan for DW and I.
However, the biggest and most important part of my health plan is to stay fit and be healthy. Both DW and are are psuedo vegans and workout regularly. Well, my wife works out regularly. I'm a work out nazi, as my co-workers call me.
By psuedo vegan, I mean that I eat vegan most of the time except on special occasions where I have some fish, wine or a dark brew. I also avoid processed sugars, white flour, caffeine, meat, dairy and salt.
Most longevity studies show that people can live quality and quantity lives by eating predominantly raw fruits and veggies. I also incorporate some grains and nuts in the diet. I heavily supplement with barley grass juice and fresh carrot juice daily.
This diet/regimine has helped me tremendously for the past 18 years as I suffered numerous sports injuries from football, basketball and track & field in my youth.
So my plan is to eat my way into FIRE and hopefully avoid high cost prescription medications and doctors visits. My dad follows a similar plan as well. At the age of 67, takes no drugs, plays Master's volleyball competitions around the US (and world) and can still bench press around 250 lbs.
I hope to emulate his example.
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12-17-2009, 08:52 AM
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#14
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Dryer sheet aficionado
Join Date: Dec 2009
Posts: 33
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Quote:
Originally Posted by brewer12345
Another refugee from the right wing circle j**k board, eh? Welcome, decath. Are you the one that was doing the vegan thing?
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Hey brewer. Nice to hear from you. Yes I still do the vegan thing.
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12-18-2009, 08:11 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,633
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Quote:
Originally Posted by MultiEventer
Found this board from a link on the Motley Fool's RECF board where I'm known as decath.
I look forward to contributing some as work and family allows.
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I remember your screen name from TMF where I used t post a lot. I was jtmitch back then. I got sick of al the political stuff on TMF and have found this board better (although I'm an aperiodic visitor here.)
Good luck and welcome aboard.
__________________
friar1610
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12-23-2009, 12:54 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Welcome aboard! Sounds like you are doing well.
"Working Hard Now So I Can Goof Off Later" is my plan, too.
Quote:
Originally Posted by MultiEventer
Ziggy lives in the best part of Texas. That is one of my possible retirement destinations. I love to vacation there.
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Do you rent from Philip Sheridan?
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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