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Old 02-27-2019, 09:54 AM   #1861
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Originally Posted by Huston55 View Post
Sounds like you’ve mapped out a great plan. Why wait until 2030 to test drive ER budget? Any savings from doing it earlier could go into your broker account. Our experience has been that having a substantial portion of our NW in an after-tax broker account significantly improves our flexibility in early FIRE; rebalancing, zero/low tax LTCG capture, Roth conversions, etc.
Oh we are pinching every penny here. The plan is to ER when the kids fledge the nest...so im assuming our ER budget will drop just by nature of empty nest. Still paying daycare and a mortgage...when that frees up we will have many more options for brokerage. Always more room for improvement.. A pemny saved is a penny earned
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AA (Stock/Bond/Cash ): 96.5/0/3.5% MIX (Small/Mid/Large): 25/25/50% BLEND(US/Foreign): 100/0%, REIT (Real Estate Equity): ~50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil 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 02-27-2019, 10:15 AM   #1862
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A penny saved is a penny earned
Actually... A penny saved is about 1.3 pennies earned (before taxes)!
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Old 02-27-2019, 11:28 AM   #1863
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Oh we are pinching every penny here. The plan is to ER when the kids fledge the nest...so im assuming our ER budget will drop just by nature of empty nest. Still paying daycare and a mortgage...when that frees up we will have many more options for brokerage. Always more room for improvement.. A pemny saved is a penny earned
I agree - as soon as you can build that brokerage account. It is critical to have a non-MAGI source of income if you plan to purchase healthcare on the marketplace. Many do not plan well for this.
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(51, married; Mr. Simple Girl, 55. I am semi-retired as of 2015 (occasional part-time self-employment), Mr. Simple Girl is contemplating fully retiring in 2019 (he has the OMY syndrome, but it seems to be fading)
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Old 02-27-2019, 11:39 AM   #1864
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I agree - as soon as you can build that brokerage account. It is critical to have a non-MAGI source of income if you plan to purchase healthcare on the marketplace. Many do not plan well for this.
Got lucky myself. Didn't specifically plan for age 57 retirement nor use of the ACA, but built up a decent size taxable account not involving stocks more out of conservatism.
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Old 02-27-2019, 11:54 AM   #1865
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Got lucky myself. Didn't specifically plan for age 57 retirement nor use of the ACA, but built up a decent size taxable account not involving stocks more out of conservatism.
A bit of luck here, too. The only reason we started a taxable account was because we hoped to retire before 59.5 and knew we needed money we could access that wasn't in retirement accounts. I only thought about that due to being on this board (thank heavens for this board!). We had no idea the ACA would even exist back at the time we opened the account, which was around 2005.

Even with having the taxable account, we still are going to have to manage it VERY carefully to make sure we have enough MAGI $ to last us 14 years until I hit Medicare. I wish we had more in it!
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Old 03-03-2019, 08:23 AM   #1866
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Funny this came up, last week we reached $100k.

I was just thinking of what my next milestone is. Maybe $250k.

What's funny is that as we accumulate, I keep thinking its just not that much. When I started saving I remember thinking, "man, if I had 100k. Wow... ". Back then it seemed like a lot.

I wonder if when we reach $1M... will it also be "not enough" in my mind. Anyway didn't mean to hijack the topic, so back to it...

$100k. Woohoo

Curious, six years after your post where are you now? You must be in good shape. I share your feeling, no amount ever feels like enough. I have $1.5M and she has $600K and we are still nervous about having enough.
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,,
Old 03-03-2019, 03:14 PM   #1867
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,,

I am excited to post that DW and I have reached the 2 comma club -- Whoop! This is from a mix of cash, taxable, Roth, and TSP/401K accounts. We are still targeting retirement in 2028, and so far we are ahead of our savings goals to meet that that date.

I joined this site in early 2017, and this thread helped me think a bit deeper about what we were trying to accomplish, our "number", and our strategy for getting there. It also helped me break down the final "number" into smaller, bite sized goals that didn't seem quite so daunting. A few months later we reached a mini-milestone of $750K. A year and a half later we've reach $1M. Thanks to everyone here who has posted and helped inspire us.

$1.5M here we come!
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Old 03-03-2019, 03:35 PM   #1868
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NW is at an all-time high of $2.79 million. Trying to hit $3 million by Dec. 2019 when DH hits 50.
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Old 03-13-2019, 07:57 PM   #1869
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I ran FIREcalc for the first time in a long time of saving aggressively, and got 100% for the first time! This was using a very tight budget, but it felt really good at a time when my j*b is discussing need for layoffs in my department. It feels good to know that I am currently working for "gravy" in the future budget and not for necessity!
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Old 03-14-2019, 05:27 AM   #1870
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NW is at an all-time high of $2.79 million. Trying to hit $3 million by Dec. 2019 when DH hits 50.
That's fantastic, congrats! We are currently at $2.1M not including a debt free house (~$700k). I plan to retire Dec 2019 as well at age 59, and DW will work a few years longer (unlike me, she loves her job).
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Old 03-14-2019, 05:46 AM   #1871
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Wife and I are both 37. Shooting for an active duty military pension in 7 years, should be an O5 pension. With that said, we just crossed $775k in net worth which includes equity in 3 homes and retirement /taxable accounts.
RE equity- a solid 375k
Retirement/taxable accounts- $400k

Very proud of our progress!
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Old 03-14-2019, 01:42 PM   #1872
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Wife and I are both 37. Shooting for an active duty military pension in 7 years, should be an O5 pension. With that said, we just crossed $775k in net worth which includes equity in 3 homes and retirement /taxable accounts.

RE equity- a solid 375k

Retirement/taxable accounts- $400k



Very proud of our progress!


Congrats! We’re right behind you
Hope you get to pin on O-5 soon!
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Old 03-14-2019, 02:45 PM   #1873
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Congrats! We’re right behind you
Hope you get to pin on O-5 soon!


Congrats......so young and doing so well. Retired Navy CMC with close to 1MM. Thank you sooooo much for your service
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Old 03-15-2019, 06:36 PM   #1874
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Hit the button and filed for my ss. Feels weird.
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Old 03-16-2019, 12:10 PM   #1875
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Originally Posted by sassnco View Post
I ran FIREcalc for the first time in a long time of saving aggressively, and got 100% for the first time! This was using a very tight budget, but it felt really good at a time when my j*b is discussing need for layoffs in my department. It feels good to know that I am currently working for "gravy" in the future budget and not for necessity!
This is excellent! Congrats!
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Old 03-16-2019, 12:34 PM   #1876
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Congrats......so young and doing so well. Retired Navy CMC with close to 1MM. Thank you sooooo much for your service


Hey thanks. Same to you!
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Old 03-16-2019, 02:44 PM   #1877
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That's fantastic, congrats! We are currently at $2.1M not including a debt free house (~$700k). I plan to retire Dec 2019 as well at age 59, and DW will work a few years longer (unlike me, she loves her job).

Thanks! DH will probably continue to work past 50 since he enjoys his job (most days anyway). Since we’re now debt free, previous mortgage payments are now being used to top up the nest egg.
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Old 03-20-2019, 02:52 PM   #1878
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Milestones for DW and me (50 & 48) as of this month

$2.7M Investable Assets
$3.5M Net Worth (includes house)

If I only had a solid plan for Health Insurance, we'd be pulling the plug...
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Old 03-20-2019, 04:13 PM   #1879
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Milestones for DW and me (50 & 48) as of this month

$2.7M Investable Assets
$3.5M Net Worth (includes house)

If I only had a solid plan for Health Insurance, we'd be pulling the plug...
How much in taxable and can you manage taxable income for ACA tax subsidies?
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Old 03-20-2019, 04:44 PM   #1880
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How much in taxable and can you manage taxable income for ACA tax subsidies?
The 2.7 is about 50/50 split taxable and tax deferred.

The bigger issue is that we have 2, early twenties, adult kids that are still on our insurance and one of them is on an expensive medication that may or may not be covered on ACA. I'm not even sure how to figure that out.

So for now its employer group health and maybe move to COBRA if we decide to pull the cord, but COBRA only gets us 18 months.
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