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Old 11-23-2016, 03:26 PM   #1261
Confused about dryer sheets
 
Join Date: May 2015
Posts: 5
Age 32
DW 31
We just crossed $300K NW milestone (excluding primary residence).
Hope to hit $400K by age 35
Hope to hit $500K by age 37
Hope to hit $1M by 42.
$2M by 50? I'll keep dreaming and keep socking away like a machine.

(all NW figures exclude primary residence)
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Old 11-23-2016, 09:29 PM   #1262
Recycles dryer sheets
 
Join Date: Mar 2013
Posts: 197
Quote:
Originally Posted by jsal7 View Post
Age 32
DW 31
We just crossed $300K NW milestone (excluding primary residence).
Hope to hit $400K by age 35
Hope to hit $500K by age 37
Hope to hit $1M by 42.
$2M by 50? I'll keep dreaming and keep socking away like a machine.

(all NW figures exclude primary residence)
You're doing it right. Keep it up......
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Old 11-25-2016, 10:59 PM   #1263
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Adding money in all our accounts, including retirement accounts, checking, savings, emergency, HSA, etc., we reached the $2.0M milestone today. I did not expect to reach this milestone until the middle of 2017.

This is the amount, according to the 4% rule and our expenses tracking, that we should have for a comfortable level of financial independence or retirement. So, for the first time in my life, I bought some bond funds seriously, increasing my cash/bond part to about 20% of our total portfolio. We plan to move slowly to 75/25 asset allocation.
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Old 11-27-2016, 09:14 AM   #1264
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Quote:
Originally Posted by jsal7 View Post
Age 32
DW 31
We just crossed $300K NW milestone (excluding primary residence).
Hope to hit $400K by age 35
Hope to hit $500K by age 37
Hope to hit $1M by 42.
$2M by 50? I'll keep dreaming and keep socking away like a machine.

(all NW figures exclude primary residence)
Seems like you're on the right track. One of the key factors in knowing if you're reaching FI is to understand your how your expenses compare to your savings/investments. Here's a chart of ratios comparing savings to income, income to expenses and savings to expenses from another couple I know. YMMV
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Old 11-30-2016, 01:12 PM   #1265
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Posts: 66
Today is my 12 year work anniversary at megacorp. (No emails or anything from anyone acknowledging it of course, which is perfectly okay with me.) Tomorrow I reach the 'rule of 70' and can officially retire from megacorp. Unfortunately, the only thing this gets me is a $100/mth pension. Currently tracking to a 6/1/2017 ER date.
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Old 11-30-2016, 01:26 PM   #1266
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Originally Posted by Carpediem View Post
Today is my 12 year work anniversary at megacorp. (No emails or anything from anyone acknowledging it of course, which is perfectly okay with me.) Tomorrow I reach the 'rule of 70' and can officially retire from megacorp. Unfortunately, the only thing this gets me is a $100/mth pension. Currently tracking to a 6/1/2017 ER date.
I had over 26 years in when I quit my job and my pension was only worth $1200 a month. I can't get to it until age 58. Meanwhile inflation eats away at it. I just consider it icing on the cake at this point. Very few jobs even have a pension nowadays and it becomes fewer each year.
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Old 11-30-2016, 02:20 PM   #1267
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I had over 26 years in when I quit my job and my pension was only worth $1200 a month. I can't get to it until age 58. Meanwhile inflation eats away at it. I just consider it icing on the cake at this point. Very few jobs even have a pension nowadays and it becomes fewer each year.

This makes my potential $181/month pension look good...until I remind myself that's tomorrows dollars, 20yrs from now. If I can hold out until 65 30 years from now its worth $
432/month. Wouldn't even cover the taxes on my home today and probably why I wouldnt even bother figuring it into my FIRECALC.

All a pension does these days is make it a little tougher to compute your final salary. For instance, if I wanted to go find a better job, with my bonus and pension that would be like another 30k/yr raise. Nobody is paying that in my industry right now unless I move to a high COL.

At least I know how much my pension-cuffs are worth...
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FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $3.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
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Old 11-30-2016, 02:22 PM   #1268
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Originally Posted by nvestysly View Post
Seems like you're on the right track. One of the key factors in knowing if you're reaching FI is to understand your how your expenses compare to your savings/investments. Here's a chart of ratios comparing savings to income, income to expenses and savings to expenses from another couple I know. YMMV
3yrs ahead of me. Literally when you turn 42 I will be turning 45 and hitting my first million of investable assets.
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AA (Stock/Bond/Cash ): 95/0/5% MIX (Small/Mid/Large): X/Y/Z% BLEND(US/Foreign): 100/0%, (Value/Growth/Blend): X/X/X% REIT (Real Estate Equity): X% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $3.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
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Today I am FIREd!
Old 12-01-2016, 05:26 AM   #1269
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Location: Southfield
Posts: 58
Today I am FIREd!

Today I am FIREd! Finished moving from our home of 27 years into the lake house last month, which is now our retirement home. Closed on the sale of that house 2 weeks ago. And yesterday was my last day of w*rk! I've been fortunate enough to have gone through a phased retirement, where I w*rked 1/2 time for full time pay as a knowledge transfer mechanism. When people asked yesterday if I would miss it, I simply stated that at least for the foreseeable future, I'm already so busy with my new life that I don't have time to miss it!

Some credit for being able to ER goes to the great folks on this forum, where I learned enough to pull the trigger years earlier than initially planned. Thanks all!
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Old 12-01-2016, 05:32 AM   #1270
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Originally Posted by fishndad42 View Post
Today I am FIREd! Finished moving from our home of 27 years into the lake house last month, which is now our retirement home. Closed on the sale of that house 2 weeks ago. And yesterday was my last day of w*rk! I've been fortunate enough to have gone through a phased retirement, where I w*rked 1/2 time for full time pay as a knowledge transfer mechanism. When people asked yesterday if I would miss it, I simply stated that at least for the foreseeable future, I'm already so busy with my new life that I don't have time to miss it!



Some credit for being able to ER goes to the great folks on this forum, where I learned enough to pull the trigger years earlier than initially planned. Thanks all!


Congrats Fishndad42. We are about 6 months behind you on the move to our lake house (well cottage really). Enjoy your new home and retirement.
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Old 12-01-2016, 07:55 AM   #1271
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Quote:
Originally Posted by fishndad42 View Post
Today I am FIREd! Finished moving from our home of 27 years into the lake house last month, which is now our retirement home. Closed on the sale of that house 2 weeks ago. And yesterday was my last day of w*rk! I've been fortunate enough to have gone through a phased retirement, where I w*rked 1/2 time for full time pay as a knowledge transfer mechanism. When people asked yesterday if I would miss it, I simply stated that at least for the foreseeable future, I'm already so busy with my new life that I don't have time to miss it!

Some credit for being able to ER goes to the great folks on this forum, where I learned enough to pull the trigger years earlier than initially planned. Thanks all!
Congratulations!!!!
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Old 12-01-2016, 07:59 AM   #1272
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Location: Acworth
Posts: 251
Quote:
Originally Posted by fishndad42 View Post
Today I am FIREd! Finished moving from our home of 27 years into the lake house last month, which is now our retirement home. Closed on the sale of that house 2 weeks ago. And yesterday was my last day of w*rk! I've been fortunate enough to have gone through a phased retirement, where I w*rked 1/2 time for full time pay as a knowledge transfer mechanism. When people asked yesterday if I would miss it, I simply stated that at least for the foreseeable future, I'm already so busy with my new life that I don't have time to miss it!

Some credit for being able to ER goes to the great folks on this forum, where I learned enough to pull the trigger years earlier than initially planned. Thanks all!
Congrats
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Old 12-03-2016, 12:48 PM   #1273
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Was hoping to hit a million at 40, however just did it a few months past my 41st birthday last month. This excludes paid off home of about $400K. Now 10 years ago when i started on this journey i figured i'd be getting close at around 1.1 or 1.2 Million, however I believe I will need to be around 2Mil to pull the plug. Hopefully around 48,49 years old i can do that.
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Old 12-03-2016, 07:28 PM   #1274
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Was hoping to hit a million at 40, however just did it a few months past my 41st birthday last month. This excludes paid off home of about $400K. Now 10 years ago when i started on this journey i figured i'd be getting close at around 1.1 or 1.2 Million, however I believe I will need to be around 2Mil to pull the plug. Hopefully around 48,49 years old i can do that.
Just like you, I just hit a million in liquid assets at 41. $860k invested and $180k in cash. Hit a million in net worth last year. Plan to use the cash to buy income properties to hopefully accelerate FIRE.
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Old 12-05-2016, 07:26 PM   #1275
Confused about dryer sheets
 
Join Date: Jun 2016
Location: Tbd
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Six months after reaching a million , net worth passes 1.1 million. considering adding one additional work year to the plan due to loss of Affordable Care Act subsidies expected, unless the market continues to cooperate.
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Old 12-05-2016, 11:26 PM   #1276
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DWs 401k+IRA recently hit 1/2 million.
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Old 12-06-2016, 07:59 AM   #1277
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Mailed DW's formal, contractually-mandated retirement notice via certified to corporate officers and counsel yesterday (informal notice/discussions and hunt for replacement began more than 18 months ago). Termination/retirement date of 7/31/17. Starting to feel real.
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Old 12-07-2016, 11:04 PM   #1278
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After Wednesday's stock run up our savings + investments hit $2 million, so DW and I now really feel like multi-millionaires . So we celebrated with an extravagant dinner at the most expensive restaurant we could find... NOT! Actually, we just went to the local Asian buffet and enjoyed a large but economical meal.

We don't expect it to stay consistently at this level, but it is a nice feeling for a day, the first time reaching this goal.
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Old 12-08-2016, 09:17 AM   #1279
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Originally Posted by jollystomper View Post
After Wednesday's stock run up our savings + investments hit $2 million, so DW and I now really feel like multi-millionaires . So we celebrated with an extravagant dinner at the most expensive restaurant we could find... NOT! Actually, we just went to the local Asian buffet and enjoyed a large but economical meal.

We don't expect it to stay consistently at this level, but it is a nice feeling for a day, the first time reaching this goal.
WOW!
Cool Jollystomper

401 broke 750,000 after yesterday's craziness and I would have never imagined I'd get to that level when I found this great community.
Gonna split a $6 footlong with the CO for lunch to celebrate
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Old 12-08-2016, 09:48 AM   #1280
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I finally broke through the $1.4M mark in the last day or so. I first broke the $1.3M mark in May of 2014. I bounced above and below $1.3M a few times in late 2015 and early 2016 before the recent run-up of the stock market overcame the downturn in the bond market enough to push me to $1.401M in the last say or so.


It would be nice to be above $1.4M when 2017 begins in a few weeks.


Onward and upward!
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

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