FIRE target club - 2020

[foxfirev5]

As early as May 2012 but no later than October 2015. We'll see...

[lark_L]

Count me in - April 1, 2019.

[HawkeyeNFO]

Quote:

Originally Posted by Nords How much longer will the Hawkeye airframe be hanging around?

E-2C is just beginning to go away. Grumman has begun delivering the D model from the factory in St Augustine. I think the opeval is next year or in '12. By 2021 all the C models in the USN will be done, except for the reserves. From the outside, the C and D look the same.

[Nords]

Quote:

Originally Posted by HawkeyeNFO E-2C is just beginning to go away. Grumman has begun delivering the D model from the factory in St Augustine. I think the opeval is next year or in '12. By 2021 all the C models in the USN will be done, except for the reserves. From the outside, the C and D look the same.

That's impressive longevity. I figured it'd be going the way of the P-3 any day now...

[REWahoo]

Interesting.

Wikipedia says the E-2 was designed in the late 50's and early 60's. The original E-2's were replaced with E-2Bs, E-2Cs and, as HawkeyeNFO said, are being replaced with newly-manufactured E-2D models.

Contrast that with the Air Force B-52 and KC-135 fleet. Designed in the late 1940's and early 1950's, the "newest" B-52s and KC-135s were delivered to the AF in 1962 and 1965 respectively.

All of them are older than the aircrews flying them - some are as old as their grandparents.

Damn Navy...

[Nords]

Quote:

Originally Posted by REWahoo Interesting. Damn Navy...

The B-52 trap SHIPALT just never quite lived up to its potential:

[HawkeyeNFO]

In 1963, the CNO had a C-130 land on the USS Forrestal. It also took off from the ship, not with the catapult, but as a full-length deck run. C-130 Hercules Lands on U.S.S. Forrestal

We've had several USAF guys on the carrier for short stays. They get very good treatment usually, because they call up the S-5 office and say "This is Captain Nutjob, I need ____ delivered to my room." S-5 is in charge of staterooms, and little do they know it is an O-3 on the other end, not an O-6.

[thefinancebuff]

Great, I'm in. What else do we do after signing up for the club?

[tinlizzy]

4/24/20 I'll be able to take early retirement at 25yrs. Reduced pension with medical benefits until 65. Fingers crossed that doesn't change in the next 10yrs! I'm saving like a mad woman though in case it does change.

Good luck to us all!

[Nords]

Quote:

Originally Posted by HawkeyeNFO In 1963, the CNO had a C-130 land on the USS Forrestal. It also took off from the ship, not with the catapult, but as a full-length deck run. C-130 Hercules Lands on U.S.S. Forrestal

ADM Flatley's son Seamus was in my company at USNA, and the "Look Ma, no hook!" story got a lot of air time every year around service-selection night. You really don't want to be in the pilot's seat when people are describing your performance with words like "flabbergasted"...

I have Grandpa Flatley's "Reaper Leader" on my reading pile. Talk about joining the family business.

[REWahoo]

Quote:

Originally Posted by HawkeyeNFO We've had several USAF guys on the carrier for short stays. They get very good treatment usually, because they call up the S-5 office and say "This is Captain Nutjob, I need ____ delivered to my room." S-5 is in charge of staterooms, and little do they know it is an O-3 on the other end, not an O-6.

I tried something similar to that once at a Navy facility on the west coast . The sailor on the other end of the line had evidently been down that road once or twice before...

[martyb]

Quote:

Originally Posted by REWahoo Contrast that with the Air Force B-52 and KC-135 fleet. Designed in the late 1940's and early 1950's, the "newest" B-52s and KC-135s were delivered to the AF in 1962 and 1965 respectively. All of them are older than the aircrews flying them - some are as old as their grandparents. Damn Navy...

You oughta see the wrinkles in the skin on those B-52s too. Up close, they look as old as they are. I've spent plenty of time in the crew compartments, bomb bays, wheel wells etc. of the B-52 and as old as they are, I'm still impressed.

[freebird5825]

Already FIREd, but does it count if 2020 is the year I am minimally eligible for SS at age 62?

I'll cheer from the sidelines.

[devilgator]

I'm in. DW and I will be 50 in 2020. Step 1 paying off mortgage in Jan 2011; Step 2 save like mad for the next 10 years.

[Aiming_4_55]

Quote:

Originally Posted by devilgator Step 2 save like mad for the next 10 years.

What does "save like mad" mean to you? I assume this can vary quite a bit for different people.

[Aiming_4_55]

So, what are some assumptions to hit 2020 target?

For me, I feel I have a few wildcards:

Investment assumptions: I'm more of a Vanguard 2035 target fund investor (normal retirement age) with the return rates with the recent recession, what return rate are you using to plan your retirement? I've been using 8%, but it's just an estimate. Is that high or low?

College funding for 2 toddlers (4 & 3): Investing in an 529 fund since birth with monthly contribution of $500 total. Annual bumps based on work bonus and $ gifts.

Healthcare: No retirement coverage, we'll see what things cost in the future without employer contribution.

Employment: While job is stable now, one never knows.

What are some wild cards for you? How do reduce the risk of wildcards?

[DblDoc]

[QUOTE=Aiming_4_55;1016556]

Quote:

So, what are some assumptions to hit 2020 target? For me, I feel I have a few wildcards: Investment assumptions: I'm more of a Vanguard 2035 target fund investor (normal retirement age) with the return rates with the recent recession, what return rate are you using to plan your retirement? I've been using 8%, but it's just an estimate. Is that high or low?

Real or nominal? I have seen estimates going forward ranging from about 3-5% real. Based on my AA my assumption is ~ 4% real.

Quote:

College funding for 2 toddlers (4 & 3): Investing in an 529 fund since birth with monthly contribution of $500 total. Annual bumps based on work bonus and $ gifts.

4 years of tuition covered under WA GET. Some 529 money, savings and UGTM to help out with related expenses. DS will have to work and help pay. Having some skin in the game will (hopefully) help keep him focused.

Quote:

Healthcare: No retirement coverage, we'll see what things cost in the future without employer contribution.

The big wildcard for us all. No telling how the dust will settle on the new Health Care bill. Those with HP from former employers have no guarantee the benefits will persist in the future. I am fortunate in having a fall back position if it becomes untenable. As a Canadian I can return to Canada and re-establish residency in 6 months and qualify for health care there.

Quote:

Employment: While job is stable now, one never knows.

I'm fortunately in a relatively recession proof profession - although we are seeing falling visit numbers and may see cut backs in coverage. I am diversified however as I work 2 jobs. Either one is sufficient to cover my expenses.

Quote:

What are some wild cards for you? How do reduce the risk of wildcards?

10 years is a long time and much could change. Plan for the worst, hope for the best. What else can one do? Or as Uncle Mick no doubt would say: By mobile, hostile and agile, don't bet against the USA and pssst... Wellesley.

DD

[aaronc879]

I'm assuming real returns of 0%. As long as I stay even with inflation, i'll be happy. Every year I work (at $48K/yr gross) pays for that year plus 2 years of savings. So if I work another 10 years i'll save enough for 20 years. I already have enough for nearly 10 years so that gets me by until age 71 if I retire in 2020 at age 41. Add in a couple of small inheritances and it gets me to 75. Based on male longevity in my family i'll be lucky to make it to that age. If I make it past that then SS will be enough to get me by. Real returns above 0% and i'll feel rich by comparison.

[Aiming_4_55]

[QUOTE=DblDoc;1016568]

Quote:

Originally Posted by Aiming_4_55 Real or nominal? I have seen estimates going forward ranging from about 3-5% real. Based on my AA my assumption is ~ 4% real. nominal 10 years is a long time and much could change. Plan for the worst, hope for the best. What else can one do? Or as Uncle Mick no doubt would say: By mobile, hostile and agile, don't bet against the USA and pssst... Wellesley. 10 years is long time, just have to adjust as time flys by ;-) DD

[Aiming_4_55]

Quote:

Originally Posted by aaronc879 I'm assuming real returns of 0%. As long as I stay even with inflation, i'll be happy. Every year I work (at $48K/yr gross) pays for that year plus 2 years of savings. So if I work another 10 years i'll save enough for 20 years. I already have enough for nearly 10 years so that gets me by until age 71 if I retire in 2020 at age 41. Add in a couple of small inheritances and it gets me to 75. Based on male longevity in my family i'll be lucky to make it to that age. If I make it past that then SS will be enough to get me by. Real returns above 0% and i'll feel rich by comparison.

Good for u! Only if I could reduce my expenses more, but we save a good rate now.