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Old 04-23-2013, 06:41 AM   #121
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Not sure this counts as a milestone. Getting better everyday to find the place that feels comfortable that we're saving enough for FI and living for today.

Had a milestone yesterday though, got to fill up on sub $3.50/gal
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Old 04-23-2013, 06:46 AM   #122
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Just received the pink slip today as mega corp (a major medical device company) has decided to cut our R&D budget by 50%. I am debating whether to find another position or simply retire as we can live on 2% SWR with a 100% chance of survival based on the estimates from firecalc.
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Old 04-23-2013, 06:59 AM   #123
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Just received the pink slip today as mega corp (a major medical device company) has decided to cut our R&D budget by 50%. I am debating whether to find another position or simply retire as we can live on 2% SWR with a 100% chance of survival based on the estimates from firecalc.
Congrats Spanky - some assumptions here... with 2% SWR, enjoy the severance and unemployment for a bit, that should give you time to figure out another job or RE.
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Old 04-23-2013, 07:17 AM   #124
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Personal milestones... turned 44 years old.

In the last 12 months...

1. Started contract employment at age 43, my first step to semi-ER. In May, it'll be 12 months, while it's 40 - 45 hours a week, I'm not stressed and feel it's a break from megacorp with a mix of office time and telecommute.

2. Added a rental for long term, buy and hold strategy.

3. Purchased a foreclosure as a short term contract for deed, coming due in Sep 2013. I would be happy if he could not closed the deal as it would make a great rental.

4. Net rental income exceed family expenses without changing lifestyle, but see lifestyle increase as the kids get older. This budget includes a monthly contribution to kids' 529 accounts but should reach our funding goal within 2 years or a lump sum deposit is possible.

5. Consolidated investment/retirement accounts from 11 to 4. I need to do the same with bank accounts as I've chased higher interest rates over the years. Now, it's meaningless.
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Old 04-23-2013, 07:20 AM   #125
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@Spanky
Might be a blessing in disguise.
Take your time to decide which path to take.
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Old 04-23-2013, 07:21 AM   #126
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Lots of personal milestones lately. Looks like 2013 was made for FIRE:

January 2013: DW gets a new ministry gig in a much more stable situation than where we were before, including a decent raise, housing and paid utilities. This gets me to planning my corporate exit in earnest.

February 2013: Quicken tells me that our net worth exceeds $1M.

April 2013: I get RIFfed, run the numbers, go through FIRECalc and realize we're probably going to be OK.

And today is Tuesday, and for all I know it might as well be Saturday.
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Old 04-23-2013, 07:35 AM   #127
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Congrats Spanky - some assumptions here... with 2% SWR, enjoy the severance and unemployment for a bit, that should give you time to figure out another job or RE.
Thanks. That's my thought also. Enjoy the 5 months of severance and possibly one year of unemployment.
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Old 04-23-2013, 07:38 AM   #128
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@Spanky
Might be a blessing in disguise.
Take your time to decide which path to take.
Hi Chris,
It might be. I am in NO hurry in landing another position as DW will still be working to receive health care coverage for both of us.
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Old 04-23-2013, 10:18 AM   #129
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Thanks. That's my thought also. Enjoy the 5 months of severance and possibly one year of unemployment.
After the overnight snowfall, we had 6" by me, taking the next 5 months off, May - Sept is ideal. Summer in the Twin Cities is the best IMHO, enjoy the lakes and free time, truly a blessing.

My contract assignment is scheduled to end June 30 and I was very hopeful to take the summer off, but new leadership just started and discussions of converting contractors to FTE is on tap. I will have to learn how to say No on an assignment extension and FTE.
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Old 04-23-2013, 10:59 AM   #130
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Smaller but important milestone: DW and I agreed on the withdrawal plan and on dates and times for withdrawing particular funds. This is based upon previously agreed upon retirement dates. These dates are pushed out a few years from our original ER plan so we can go on some expensive vacations while we still have work income. But no lackadaisical OMY syndrome here, we have a plan.

Of course, all bets are off if that bird flu in China really is being transmitted from person to person CDC Races to Create a Vaccine for China's Latest Bird Flu Strain - Businessweek
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Old 04-23-2013, 02:16 PM   #131
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Two big ones recently:
-Actually took retirement last August. Was planning for ER, crossed the 55yo threshold for the company pension plan, then went down with a stroke a few months later. While out on paid sick leave, I found out my job would be outsourced this year so PSL ran out and I went ahead and retired.
-Paid off the mortgage last month. I had tentatively planned for this event to be the trigger for ER, but ended up taking it a little early.

Spanky, go ahead and take your time. You'll probably start to enjoy this phase.
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Old 04-23-2013, 06:56 PM   #132
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Spanky, go ahead and take your time. You'll probably start to enjoy this phase.
Thanks. I just have to change my mindset that we already have enough to retire and now it is time to start enjoy life.

Quote:
May - Sept is ideal. Summer in the Twin Cities is the best IMHO, enjoy the lakes and free time, truly a blessing.
Yea - we have such a chilly and snowy spring this year. I can't wait to spend more time outdoor as the weather gets warmer.
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Old 04-24-2013, 06:08 AM   #133
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Its hard to adapt to retirement after being frugal all those years to get there. Breaking the careful spending habit is a tough one.
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Old 04-24-2013, 06:27 AM   #134
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Thanks. I just have to change my mindset that we already have enough to retire and now it is time to start enjoy life.


Yea - we have such a chilly and snowy spring this year. I can't wait to spend more time outdoor as the weather gets warmer.
70's this weekend!! Can't wait for ice out on Tonka
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Old 04-24-2013, 09:54 AM   #135
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I am already FIRE'd, but reached a couple of great milestones now that I am almost at my 65th birthday (June 8th).

1. I have my Medicare card for Parts A&B! Don't know if this is good or bad, but I'll find out after it becomes valid on June 1st.

2. My property tax assessment is now officially frozen! In Louisiana, if you are 65, live in the home, and your 2012 federal AGI was less than $69,463, you can do this. So now, the only way my property tax can rise from last year's $956 is if the millage rate rises.

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Old 04-24-2013, 06:11 PM   #136
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W2R,

Great milestones - medicare and frozen tax assessment.
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Old 04-25-2013, 03:02 PM   #137
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Celebrate a new milestone on your journey to FIRE with us! Did you just pay off your mortgage, reach financial independence, or pass a nice round number on your way to FI? Tell us of your accomplishments here!
NW = lifetime W2 earnings. Thanks to; time, compound interest, & LBYM's
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Old 04-29-2013, 08:16 PM   #138
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Net Worth finally hit 500k. 31 years old, married, with wife just finishing up ridiculously expensive 3 year doctoral program. Will be so thankful when she starts working.
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Old 04-29-2013, 09:45 PM   #139
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I have a milestone coming up. I retired from the army on may first 1993. Those 20 years seem to have gone by faster than the 21 years I was in the army.
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Broke the $2M barrier today!
Old 05-01-2013, 06:19 PM   #140
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Broke the $2M barrier today!

Finally broke through the $2M barrier in savings and investments today. Who knows where the market will go tomorrow, so time to celebrate while we can. (Net worth up to $2.843M).
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