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Old 12-29-2014, 03:32 PM   #781
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I finally hit the "number" that gives me FI if I take 3% SWR. I have cut down to 3.25 days and heading to 3 days this summer. If part-time doesn't do it...I can leave completely! Nice to have that option.
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Old 12-29-2014, 03:55 PM   #782
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Congrats Travelwanted. That's gotta be a great feeling.
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Old 12-29-2014, 04:11 PM   #783
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I've set up my accounts to "oay myself" during retirement. I set up a new savings account with one years worth of budgeted expenses with a monthly transfer to checking of 1/12th of the total. From now until ER I will pay all bills from that single checking account (was previously paying bills out of two accounts but will move all automatic payments to the single account). Since I will hae 3 months income credited that checking account I will manually move to my "normal" savings account so that I don't corrupt the system.

(As an aside, I have another years worth of expenses in savings and another 2 years of expenses in short term bonds as part of my AA).

Not a financial milestone, but a very big mental leap.
How organized! Good job.
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Old 12-29-2014, 04:42 PM   #784
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Congrats Travelwanted. That's gotta be a great feeling.
Thanks, WannabeRetired. Yes, I think it feels good, but to be honest it really hasn't hit me yet. All of this is surreal to me. And I'm only 43.
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Old 12-29-2014, 06:03 PM   #785
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Finishing up my first year of retirement at 57. I spent more than I thought I would, but the investment gains still put me ahead of my projections. I Should be paying off a car and finishing up on some other things that will help with spending this next year. I have to say it's been a great first year.
What have you been doing in your first year of retirement?
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Old 12-30-2014, 12:27 AM   #786
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What have you been doing in your first year of retirement?
I used to travel a good bit for work, and had a lot of frequent flyer points with airlines and hotels. So, my wife and I did travel a good bit this first year.

We went to visit my relatives in Tennessee and hers in Mississippi. We took a couple of Caribbean cruises, and spent a week in a condo on St Thomas. We also went to visit my daughter who works at Disney World. The biggest trip was a week in London, followed by a transatlantic trip back to the U.S. on the Queen Mary 2. We won't be keeping up that pace in the future, but it was great fun this year.

But really, most of the year I was at the house. It was kind of like every day was a Saturday, and I just did a lot of little things mostly. I got my golf game back in better shape, and spent time trying to fix some things around the house. I also started piano lessons, since I have always wanted to learn to read music.

Retirement is a slower pace, and I think the slower pace takes some adjusting, but it does take away a lot of stress knowing that you can always finish something later if you want to. All in all, I am looking forward to year number 2.
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Old 12-30-2014, 10:04 AM   #787
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I finally hit the "number" that gives me FI if I take 3% SWR. I have cut down to 3.25 days and heading to 3 days this summer. If part-time doesn't do it...I can leave completely! Nice to have that option.
Excellent job ! Options are nice
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Old 12-30-2014, 11:58 AM   #788
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Hit 50% of our FI number this week. A little more than five years left to get the other 50%. Tiiiiiiiiiiime... is on my side... yes it is...
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Old 12-30-2014, 12:15 PM   #789
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DH started SS this month upon reaching his FRA of 66. The annual amount is virtually the same we withdrew from the Vanguard money market fund (I know, I know) last year, so one of the last pieces of our retirement financial puzzle is in place. Next up is Medicare for me this summer, when my $1000 monthly HI payment (COBRA) will be cut to a third.
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Old 12-30-2014, 06:53 PM   #790
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Originally Posted by Dwhit View Post
I used to travel a good bit for work, and had a lot of frequent flyer points with airlines and hotels. So, my wife and I did travel a good bit this first year.

We went to visit my relatives in Tennessee and hers in Mississippi. We took a couple of Caribbean cruises, and spent a week in a condo on St Thomas. We also went to visit my daughter who works at Disney World. The biggest trip was a week in London, followed by a transatlantic trip back to the U.S. on the Queen Mary 2. We won't be keeping up that pace in the future, but it was great fun this year.

But really, most of the year I was at the house. It was kind of like every day was a Saturday, and I just did a lot of little things mostly. I got my golf game back in better shape, and spent time trying to fix some things around the house. I also started piano lessons, since I have always wanted to learn to read music.

Retirement is a slower pace, and I think the slower pace takes some adjusting, but it does take away a lot of stress knowing that you can always finish something later if you want to. All in all, I am looking forward to year number 2.
Wow, that sounds awesome. Congratulations and thanks for the reply.
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32 and half way there.
Old 01-01-2015, 09:53 PM   #791
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32 and half way there.

So today, I was updating my 'outside' account balances on vanguard, and I noticed something. I'm halfway to financially independence (@ 3% SWR)

In some abstract way, this feels big. My net worth is 100x what it was 10 years ago. I do have to keep it in perspective. I'm single so I'm only figuring *my* expenses, but that could certainly (hopefully? ) change. That'll be one of those questions that answers themselves in due time.

I do stand a bit conflicted. As much as I want to step back, take a breath and relax a bit, I cannot afford to become complacent now.
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Old 01-07-2015, 01:15 PM   #792
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I am FI, just RE, and applied for ACA insurance today. Paid the premium while I was still online. It feels very freeing not to be dependent on my employer for my health insurance, for the first time in my life.
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Old 01-07-2015, 01:32 PM   #793
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Love to read these milestones. Congrats!
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Old 01-07-2015, 01:53 PM   #794
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I tried the FIRECalc for the first time today. And the numbers looked good!

Mostly thanks to my somewhat generous disability pensions. And by using the 4% rule I could use more of my savings than I had expected.

No doubt these numbers may change the next time I try since I'm very much a newbie here.

Another milestone was how fast I could find the numbers FIRECalc requested. I started budgeting again last summer after a several years hiatus - but took the time to import or enter all the backlog data. So that average spending each year etc. could be calculated. Took me almost 3 months but definately worth it!
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Old 01-08-2015, 02:58 PM   #795
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I tried the FIRECalc for the first time today. And the numbers looked good!

Mostly thanks to my somewhat generous disability pensions. And by using the 4% rule I could use more of my savings than I had expected.

No doubt these numbers may change the next time I try since I'm very much a newbie here.

Another milestone was how fast I could find the numbers FIRECalc requested. I started budgeting again last summer after a several years hiatus - but took the time to import or enter all the backlog data. So that average spending each year etc. could be calculated. Took me almost 3 months but definately worth it!
Yep - the key to understanding if you can RE is understanding your spending levels. Definitely worth gathering the data. Congrats on the good numbers out of firecalc!
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Update:
Old 01-11-2015, 05:04 PM   #796
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Update:

So the DW and I did the year end calculations and bypassed our year end goal of $600,000 by finishing with $623,000! We could have probably done better but it was a great year! On another note, I have decided to sell my 1/2 of duplex (rental). I am tired of renters and don't want to deal with it any longer. I hope to walk away from closing with about $52,000. ( I always counted the debt in our net worth but never the equity!)

The Mrs and I have decided to forgo reaching $700,000 by the end of year and shoot for $800,000 which could possible make us millionaires by the time I am 42 and she is 37! EEEEKKKKK We shall see. I thank goodness for this website every day.
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Old 01-11-2015, 06:49 PM   #797
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Congrats, RAF! Fabulous progress.
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Traditional pension
Old 01-14-2015, 09:44 AM   #798
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Traditional pension

Hi new to this group and thought I would chime in a little here, just because I can :-)
So, I see a lot of folks have over 1M in accumulated wealth. I just asking and wondering here. I am 55 yrs old in July, we will have two guaranteed monthly pensions that total about 4,500 with COLA and presently have about 500K in annuities, 401Ks, and a little cash. Would like to retire at age 60 but not sure if we can? Only major bill will be mortgage. Any thoughts out there. (I am sure there are)

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Milestones:

1. net worth exceeding USD1 million - this one was so good I passed it a few times from both directions

2. making partner - the jump in income put me on track to retire in my early 40s

3. having children - the jump in expenses put me on track to retire in my fifties ... if I was lucky ...

4. watching the FIRECalc success rate marching upwards in sync with my own spreadsheet and telling us that we were good to go ... but then falling victim to one more year syndrome

5. telling my firm that I am leaving

194 days to go!

Hoping the stock market will have a major downward move between now and the end of September when I FIRE and get my capital back.

Eight years to go on the mortgage and no plans to pay it off early unless interest rates start rising.
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Old 01-14-2015, 09:57 AM   #799
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Hi new to this group and thought I would chime in a little here, just because I can :-)
So, I see a lot of folks have over 1M in accumulated wealth. I just asking and wondering here. I am 55 yrs old in July, we will have two guaranteed monthly pensions that total about 4,500 with COLA and presently have about 500K in annuities, 401Ks, and a little cash. Would like to retire at age 60 but not sure if we can? Only major bill will be mortgage. Any thoughts out there. (I am sure there are)
Welcome to the site! No magic about 1million, especially when you have 4500 (COLAd!) monthly pensions. The crucial question is whether your cash flow (Pension + annuity + social + portfolio income/drawdown) is likely, under a conservative analysis, to meet your spending needs and desires.

For example, if you mortgage is 10,000 a month, you obviously can't retire! OTOH, if it is $660, and you aren't a super big spender, you probably can--particularly if the pensions continue for the life of the surviving spouse.

Check out Imoldernu's detailed postings regarding the retirement he and his wife; you don't need to be filthy rich to enjoy a long retirement.

Finally, as I private messaged, you should break this out as a separate post for better feedback. The "Hi, I am" forum would be a good place: Hi, I am... - Early Retirement & Financial Independence Community
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Old 01-22-2015, 03:58 PM   #800
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Just summed up all our investment and retirement accounts....

$1.35MM

Not really a milestone, but compared to last year an increase of 20% in 12 months.

For fun I pulled up my "projections" spreadsheet I made about 5 years ago and I am waaay ahead of where I thought I would be...even though I've added 2 kids and a 529 into the mix.

5 years ago I had a target of FIRE at 50. But maybe now 45? I'm 35 now.
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