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Old 06-13-2014, 11:57 AM   #561
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Just got off the phone with the (outsourced third party) Megacorp pension plan customer service rep, took the "initiate retirement" option with a last work day of 8/1/14 and pension payments to begin on 9/1/14 - first step in making it official.

Think I'll go sit on the deck (burning up remaining vacation days) and ponder that thought a bit
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Old 06-13-2014, 11:59 AM   #562
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Did a few things that qualify as FIRE milestones.

Paid off the mortgage.
Transferred money to live on for 6 months into my high yield checking account. (This is the one I don't use every day - vs the no-interest, but local one, I use for cash flow.)

4 working days left and then I'm RETIRED.
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Old 06-13-2014, 02:00 PM   #563
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Congrats to all who've recently paid off their mortgage. That was the milestone for us when our portfolio really started to grow.

Our portfolio hit 1.6 M. this week. I'll turn 55 this fall. As I can't see myself working another summer, I'll pull the pin sometime between November 1 and May 31. Smiling inside and out.
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Old 06-13-2014, 02:33 PM   #564
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Quote:
Originally Posted by rodi View Post
Did a few things that qualify as FIRE milestones.

Paid off the mortgage.
Transferred money to live on for 6 months into my high yield checking account. (This is the one I don't use every day - vs the no-interest, but local one, I use for cash flow.)

4 working days left and then I'm RETIRED.
Outstanding, congrats!

These were also some of our last Pre-RE moves:
- Paid off mtge (~3 yrs pre-FIRE)
- Transferred 6 mos living expenses into separate fixed income acct
- Also created 4 yr CD ladder for added cushion if needed if down market

We just Semi- FIREd last Friday.
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Debt Free
Old 06-17-2014, 01:42 PM   #565
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Debt Free

Paid off the last of my student loans today. That makes DW and I debt free. No credit card debt, car loan, student loan, or mortgage. Feels good, but we do still have a number of obligations, including four young kids that will one day go to college and our house needs further rehabbing. That said, it's nice to think that none of the dollars that I am earning today have been spent already.
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Old 06-17-2014, 06:49 PM   #566
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I finally drew funds out of my retirement account. My first time taking out from the 401K after 25 years of putting in, feels wrong somehow! Also started rebalancing to a more conservative AA as I'm never going to work again.

Sent from my Nexus 7 using Early Retirement Forum mobile app
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Old 06-17-2014, 07:11 PM   #567
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A real milestone for me is for my portfolio to grow faster than my expenses, such that I can live on 3% WR.

Alas, that did not last long, as home repair and improvement projects will push it to 4%. And who knows what extra expenses will come after that.

Maybe the WR will be low again when we draw SS.
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Seeing the light
Old 06-18-2014, 02:23 PM   #568
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Seeing the light

Just calculated my assets and adjusted my plan. A little over 500K in retirment accounts and DCA 33k/year for the next five, 50k in my son's 529 with nine years left until college, 90k in money market. House on the market, when it sales I am totally debt free. I will FIRE in a little less than 5 years at age 56, four years earlier than my original plan, with a nice FERS pension which alone should more than meet my COL needs.

If I would have found this site 30 years ago, who knows, I might be FIREd now.
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Old 06-18-2014, 03:17 PM   #569
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Some frustrating house hunting in the Bay Area (who are all the people who can afford to pay those 7-digit prices for a hobbit-size house) and spending too much time here have us convinced that we need to push the FIRE goal posts one more time. So new FIRE milestone and it's back to the grinder.
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Old 06-18-2014, 03:24 PM   #570
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So new FIRE milestone and it's back to the grinder.
Bummer.
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Old 06-18-2014, 03:56 PM   #571
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Some frustrating house hunting in the Bay Area (who are all the people who can afford to pay those 7-digit prices for a hobbit-size house) and spending too much time here have us convinced that we need to push the FIRE goal posts one more time. So new FIRE milestone and it's back to the grinder.
Sorry to hear that too. Your "journey" and stories have been inspirational. Especially for someone that likes the Bay Area and dreams of spending winters there too.

Hopefully you can pull the trigger again soon !
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Old 06-18-2014, 06:16 PM   #572
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Some frustrating house hunting in the Bay Area (who are all the people who can afford to pay those 7-digit prices for a hobbit-size house) and spending too much time here have us convinced that we need to push the FIRE goal posts one more time. So new FIRE milestone and it's back to the grinder.
Hopefully you can make it work. The Bay Area is pricey but a nice part of the country to live.
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Old 06-18-2014, 10:51 PM   #573
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After today's market gains, my Megacorp 401(k) hit $1M in its 31st year. Many years of LBYM, savings, not-very-brilliant investing, and patience has paid off. Naturally it will fall back as the market bounces, but still nice to have hit the level for the first time and hopefully soon stay above it until RE.

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Old 06-18-2014, 11:30 PM   #574
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Outstanding, congrats!

These were also some of our last Pre-RE moves:
- Paid off mtge (~3 yrs pre-FIRE)
- Transferred 6 mos living expenses into separate fixed income acct
- Also created 4 yr CD ladder for added cushion if needed if down market

We just Semi- FIREd last Friday.
Congrats on the Semi-FIRE! I like the 4 year CD ladder idea. Do you have criteria for how "down" the market needs to be before you tap it?
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Almost There $1.7M
Old 06-19-2014, 08:29 AM   #575
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Almost There $1.7M

Reached $1.7M on 6/18/2014. We need less than $80k more to reach our goal. The goal includes lots (20% plus) of safety margin. Just waiting for next year so the DW and I can retire.

No debt and earned a state $30k pension starting in 2021. We do include SS int he budget as we are not that far from collecting.
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Old 06-20-2014, 06:56 AM   #576
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I passed 600k EUR NW today!

Onwards to 720k, final destination before defining myself as "100% certified as probably maybe FI"
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Old 06-20-2014, 12:17 PM   #577
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Reducing my fixed cost of living expenses. Sold one luxury car, and one airplane.
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Old 06-20-2014, 01:49 PM   #578
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Congrats on the Semi-FIRE! I like the 4 year CD ladder idea. Do you have criteria for how "down" the market needs to be before you tap it?
You know, that's a great question. I have not finalized the criteria yet. I know that it will be based on market performance but, I can think of two ways to do it, as listed below.

Cash Stash Replenishment Criteria

Market Up /Flat: replenish MMA and CDs
+ Retains more cash stash over time
+ Better ability to ride out bear markets
- More drag on portfolio

Net Worth Up/Flat: replenish MMA and CDs
+ Simpler and more directly relevant to our personal financial condition
+ Slightly increased gains from bull markets
- Consumes part/all of cash stash more frequently

Based on the info above, I think I will use the "Market Flat or Up" criteria. So, if the market (as represented by the S&P 500) is flat or up for the year, I would replenish the MMA and CD ladder. If the market is down, I would not replenish the CD ladder but, rather, consume the first rung of the ladder. I would follow suit each successive year based on the same criteria. To give credit where credit is due, this approach is based on what I learned from Nords and other posters.

I am very much interested in folks' comments on this approach; the pros and cons, as well as other approaches that you all plan to use.
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Old 06-23-2014, 01:30 PM   #579
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Last week, passed the milestone of $3 m net worth, including home equity, thanks to a generous new 'Zestimate.'
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Old 06-23-2014, 03:50 PM   #580
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Net worth briefly passed $4M this morning before pulling back slightly before the close. On my last trip to Europe, I surveyed the parcels of land that I purchased there as a teenager. The price appreciation on those has been phenomenal.
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