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12-27-2010, 12:53 PM
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#41
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Thinks s/he gets paid by the post
Join Date: Aug 2005
Location: Crownsville
Posts: 3,709
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My dream date is April 1, 2016, a Friday, and the day before my 46th birthday. But, we'll see when we get there. I can see myself chickening out at the last minute and hanging around the office awhile longer, especially if the economy happens to be tanking around that point. So, I guess I'll put NLT2020 as my goal!
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12-28-2010, 10:05 AM
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#42
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Full time employment: Posting here.
Join Date: Feb 2008
Posts: 920
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Aiming for 2014-2015, will be mid 40s.
Like others depends on economy until then and perception of economy at that point, also depends on whether dog and cat are still around.
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12-28-2010, 10:44 AM
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#43
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,657
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I'd like to join this club. My previous, much too optimistic. plan was to save like crazy for three years and retire Jan 1, 2011. While I did okay with the saving, a couple unexpected job changes and a very uncooperative stock market kept me from growing my nest egg like I wanted. From where I am now, a very safe plan would be to double the current nest egg, so I'd like to get that done by 2020. What do we do, once we join this club?
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12-28-2010, 03:40 PM
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#44
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Recycles dryer sheets
Join Date: Jan 2006
Posts: 346
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Quote:
Originally Posted by thefinancebuff
Great, I'm in. What else do we do after signing up for the club?
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Well the plan is to bump this thread every quarter or half year and see how we are doing. I think it will be useful in demonstrating the benefits of planning for an exact date or lessons learned along the way
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12-28-2010, 04:20 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: USA
Posts: 1,050
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It might already be in the forum somewhere, but what about ideas for us to do a self check and approximate timing/frequency ... to see where we are in our planning/execution.
- Complete FIRECalc, other retirement calcs
- Do we have a realistic budget for our current/retirement budgets?
- Do we have a spreadsheet tracking our assets (taxable, 401k/403b, - Roth, pension estimates, SSN estimates, etc)
- Things to consider Will(s), Trust(s), insurance, etc.
- Health care sources for quotes and strategies
I'm sure there are more to consider, but just a few.
Quote:
Originally Posted by accountingsucks
Well the plan is to bump this thread every quarter or half year and see how we are doing. I think it will be useful in demonstrating the benefits of planning for an exact date or lessons learned along the way
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12-28-2010, 06:02 PM
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#46
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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No offence, but this is one club I would really hate to become a member of....target retirement date is one of Feb 2012, Feb 2013 or Feb 2014 (+ whatever part of my six months notice period they make me work through sit at my desk surfing the Internet).
__________________
Budgeting is a skill practised by people who are bad at politics.
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12-28-2010, 06:18 PM
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#47
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Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 1,525
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Quote:
Originally Posted by accountingsucks
Well the plan is to bump this thread every quarter or half year and see how we are doing. I think it will be useful in demonstrating the benefits of planning for an exact date or lessons learned along the way
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Quote:
Originally Posted by Aiming_4_55
It might already be in the forum somewhere, but what about ideas for us to do a self check and approximate timing/frequency ... to see where we are in our planning/execution...
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Two things I did this year that I think will help me along the 10-year journey:
- (incomplete, but making progress) Consolidating various IRA and 529 accounts with one mutual fund provider / brokerage. Easier to manage, easier to track.
- The company I picked is low-cost - Vanguard. An extra 0.2 - 0.5% return will pay off measurably over 10 years.
Resolutions for 2011:
- Increase 457(b) contributions at work by 4% of my salary. This is equal to the 2% reduction in SS contributions for 2011 (painless) + redirecting a 1% reduction in existing employee pension deductions (also painless) + finding 1% out of my current take home
- Educate 21-year-old DD on successfully achieving financial independence from the Bank of Mom & Dad
- Make a start in tracking expenses in an organized way (not sure how I will measure progress on this one yet)
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12-28-2010, 07:03 PM
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#48
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: Portland
Posts: 2,038
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Quote:
Originally Posted by kyounge1956
My tentative target date is May 2013. OK, everyone—
Ready..... Aim......
FIRE!!
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Yea, me too! 05/2013. Are you a Taurus?
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12-28-2010, 07:45 PM
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#49
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Thinks s/he gets paid by the post
Join Date: Aug 2004
Location: St. Louis
Posts: 2,179
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I'll go ahead and sign up for 12/31/2020, with a big * next to it for "tentative".
The major unknown is that I'm a single 34 year old male. We'll see what sweet talking grandoise plans I can hatch with the unknown future Mrs. Bonds ....along with what impact future kiddos will have on the budget.
As of right now, things could turn out well for ringing in 2021 on a most pleasant note, based on current portfolio, slight real returns (2%/yr), and most probable inheiritance factors (which aren't really something I'm heavily betting on - more like 'they would speed it up to 2020 vs 2025 or 2027').
It'll be interesting to see what the next 10 years brings. I know in 2000, I never would have expected to be where I'm at currently, so hopefully the next 10 years will bring continued blessings!
__________________
Dryer sheets Schmyer sheets
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12-28-2010, 08:06 PM
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#50
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Recycles dryer sheets
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
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Aiming for January 2014 on 56th birthday.
FREEDOM!
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12-29-2010, 04:03 AM
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#51
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 2,171
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Quote:
Originally Posted by Helen
Quote:
Originally Posted by kyounge1956
My tentative target date is May 2013. OK, everyone—
Ready..... Aim......
FIRE!!
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Yea, me too! 05/2013. Are you a Taurus?
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No, I don't believe in astrology. I chose that date because it's an even number of years before I'm eligible for full Social Security benefits at age 66 + 4 months.
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12-29-2010, 04:26 AM
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#52
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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I am aiming at July 2012, at age 47. Who knows I may have to w*rk a bit longer.
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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