Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-05-2016, 07:35 AM   #21
Thinks s/he gets paid by the post
DrRoy's Avatar
 
Join Date: Dec 2015
Location: Michigan
Posts: 1,713
You're doing great, Birds. Way ahead of your peers. I was not so focused at your age but was saving ~20% and got to FI. I will RE at 57 next year. Hang in there. The LBYM program works.
__________________

__________________
"The mountains are calling, and I must go." John Muir
DrRoy is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-08-2016, 02:28 PM   #22
Dryer sheet wannabe
 
Join Date: Mar 2016
Posts: 15
In my 20's I still lived with my parents despite that I can afford to rent until I got married and brought my own place. Also I didn't max out my 401k until I saved enough for a down payment for my own place and my home.
__________________

__________________
pug_ster is offline   Reply With Quote
Old 04-13-2016, 02:31 PM   #23
Dryer sheet aficionado
 
Join Date: Mar 2014
Posts: 45
Thanks for the feedback everyone. It's nice to know we are not alone out there (though at times it feels like in my circle of friends/family)
__________________
2Birds1Stone is offline   Reply With Quote
Old 04-19-2016, 09:53 AM   #24
Dryer sheet aficionado
 
Join Date: Mar 2014
Posts: 45
Very cool unrelated to FIRE news.

I found out last Friday that due to hitting 200% to sales quota I received an invitation to this years President's Club trip.

6 days and 5 nights in Bora Bora/ Tahiti valued at $25k per couple. My SO is THRILLED and I am even more motivated to crush it this year.
__________________
2Birds1Stone is offline   Reply With Quote
Old 04-25-2016, 10:00 AM   #25
Recycles dryer sheets
 
Join Date: Oct 2015
Posts: 92
That is awesome!! Congrats.

Don't want to be a Debby Downer, but check to see if a prize like this is taxable. I got hit with an unexpected tax bill when winning something similar (though nowhere near as expensive) from my company. At least for me, they valued the trip at rack rate pricing, which was much higher than I could find elsewhere. It may end up costing you $5K for a "free trip".
__________________
eastnortheast is offline   Reply With Quote
Old 05-18-2016, 10:19 AM   #26
Dryer sheet aficionado
 
Join Date: Mar 2014
Posts: 45
Found out that my company does pay taxes on our behalf for this incentive trip.
__________________
2Birds1Stone is offline   Reply With Quote
Old 07-06-2016, 09:25 AM   #27
Dryer sheet aficionado
 
Join Date: Mar 2014
Posts: 45
Quote:
Originally Posted by 2Birds1Stone View Post
Figured I would toss up an update.

Investable assets are up to $167k as of today. Income for 2015 ended up being $109k, got a small promotion in January so I should be in the $100-120k range for 2016 assuming I hit sales quota.

Looks like ~$210k in investable assets will be possible by the end of this year. At that point a 4% withdrawal rate will cover my rent/utilities/groceries.
Broke through this goal last month!

Investable assets are now up to ~$220k, which at a 4% SWR means income of ~$730/month......covers my rent/utilities & a frugal monthly grocery budget.

Slowly but surely getting there!!
__________________
2Birds1Stone is offline   Reply With Quote
Old 07-31-2017, 03:38 PM   #28
Dryer sheet aficionado
 
Join Date: Mar 2014
Posts: 45
Investable assets just cracked $313k

+$100k in the last 12 months.
__________________
2Birds1Stone is offline   Reply With Quote
Old 08-02-2017, 11:26 AM   #29
Full time employment: Posting here.
 
Join Date: Jul 2013
Posts: 567
Nice, congrats! you're doing great...
__________________
Target FI age /year: 50/2025
dvalley is offline   Reply With Quote
Old 08-02-2017, 12:53 PM   #30
Recycles dryer sheets
 
Join Date: Oct 2014
Posts: 351
Quote:
Originally Posted by 2Birds1Stone View Post
Investable assets just cracked $313k

+$100k in the last 12 months.
Congrats and thanks for the updates.
__________________
-Big Dawg-FI since 9/2010. ER in 2015(failed-mentally not $$). Now back for TMY's.

" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
Bigdawg is offline   Reply With Quote
Old 08-02-2017, 01:17 PM   #31
Full time employment: Posting here.
UnrealizedPotential's Avatar
 
Join Date: May 2014
Posts: 573
Quote:
Originally Posted by 2Birds1Stone View Post
Broke through this goal last month!

Investable assets are now up to ~$220k, which at a 4% SWR means income of ~$730/month......covers my rent/utilities & a frugal monthly grocery budget.

Slowly but surely getting there!!
Maybe I am missing it, and if so I am sorry, but don't you have your assets in pre tax accounts? If so, how will you access the money if you retire before 59.5 for roth IRA or 55 if you stay on the job for your 401k? But you are doing great. Way ahead of me when I was your age. Your killing it, Keep it up. However, to retire really early you will need significant taxable accounts or you could use the equal periodic payments for Roth IRA, but for the 401k I don't know if there is a loop hole.
__________________
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger
UnrealizedPotential is offline   Reply With Quote
Old 08-02-2017, 02:22 PM   #32
Recycles dryer sheets
97guns's Avatar
 
Join Date: Nov 2011
Location: The Deep South Bay
Posts: 310
Your path is eerily similar to mine, got my first corporate job at 26, retail with Home Depot, and said to myself that I would retire by 40. I put my nose to the grinding wheel and made dept manager in 4 months, Max'd out the stock purchase plan and walked out with $80k in stock in 4 years. I hated school, never went to college and graduated HS with a D- average, suffice to say I did manage to fire 9 years ago at 39 years old
__________________
Fired at 39 in 2009 with less than $300k in total net worth, current net worth 1.7mil
97guns is offline   Reply With Quote
Old 08-03-2017, 07:54 AM   #33
Recycles dryer sheets
 
Join Date: Nov 2015
Posts: 297
Quote:
Originally Posted by 97guns View Post
Your path is eerily similar to mine, got my first corporate job at 26, retail with Home Depot, and said to myself that I would retire by 40. I put my nose to the grinding wheel and made dept manager in 4 months, Max'd out the stock purchase plan and walked out with $80k in stock in 4 years. I hated school, never went to college and graduated HS with a D- average, suffice to say I did manage to fire 9 years ago at 39 years old
Why did you get banned on the other site you used to frequent?
__________________
ponyboy is offline   Reply With Quote
Old 08-03-2017, 09:42 AM   #34
Recycles dryer sheets
97guns's Avatar
 
Join Date: Nov 2011
Location: The Deep South Bay
Posts: 310
Quote:
Originally Posted by ponyboy View Post
Why did you get banned on the other site you used to frequent?
I posted a link to an article and was deemed a spammer
__________________
Fired at 39 in 2009 with less than $300k in total net worth, current net worth 1.7mil
97guns is offline   Reply With Quote
Old 11-23-2017, 08:30 PM   #35
Dryer sheet aficionado
 
Join Date: Mar 2014
Posts: 45
Quote:
Originally Posted by dvalley View Post
Nice, congrats! you're doing great...
Thank you!

Quote:
Originally Posted by Bigdawg View Post
Congrats and thanks for the updates.
Obliged.

Quote:
Originally Posted by UnrealizedPotential View Post
Maybe I am missing it, and if so I am sorry, but don't you have your assets in pre tax accounts? If so, how will you access the money if you retire before 59.5 for roth IRA or 55 if you stay on the job for your 401k? But you are doing great. Way ahead of me when I was your age. Your killing it, Keep it up. However, to retire really early you will need significant taxable accounts or you could use the equal periodic payments for Roth IRA, but for the 401k I don't know if there is a loop hole.
Hey there. Tons of ways to access 401k money. Primary is to roll your 401k into a tIRA when you leave a job. Once you leave the workforce and drop to the 15-25% tax bracket, you do a Roth conversion pipeline. Where you can convert say $20k/yr from IRA to Roth IRA in your new low tax bracket, and 5 years later access the funds penalty free, if you do that each year you create a ladder of Roth money you can touch every year.

Also, existing roth IRA you can withdraw principal penalty free at any time.

Taxable I do have, currently ~$50k sitting in there and growing.

For healthcare in retirement I also have an HSA that is growing quickly thanks to contributions. Putting $6,900/yr in there.

Quote:
Originally Posted by 97guns View Post
Your path is eerily similar to mine, got my first corporate job at 26, retail with Home Depot, and said to myself that I would retire by 40. I put my nose to the grinding wheel and made dept manager in 4 months, Max'd out the stock purchase plan and walked out with $80k in stock in 4 years. I hated school, never went to college and graduated HS with a D- average, suffice to say I did manage to fire 9 years ago at 39 years old
That is wonderful! Did you stay with Home Depot your entire career?

Quote:
Originally Posted by ponyboy View Post
Why did you get banned on the other site you used to frequent?
Quote:
Originally Posted by 97guns View Post
I posted a link to an article and was deemed a spammer
Yikes, was that MMM?

Update.

By the end of 2017,

Investable assets will be a hair over $340k now, which throws off $1100+/month @ 4% SWR. That covers 55% of my current expenses (including luxuries/wants)

I decided to take my foot off the pedal for a bit in 2020. Taking a sabbatical starting April 1 2020 for 9-12 months.
__________________

__________________
2Birds1Stone is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hi I am begining a long planned journey to retirement vthorseshoe Hi, I am... 5 04-01-2008 11:50 AM
33 year old single mom of 2 kids...beginning her journey! Freedombound Hi, I am... 12 03-25-2008 09:35 PM
It's been a slow and worthwhile journey... Keopele FIRE and Money 5 01-21-2008 04:46 PM
"Bruce Lee:  A Warrior's Journey" Nords Other topics 9 04-08-2005 05:29 AM
So how do you manage the journey? ChocoKitty Young Dreamers 9 08-08-2003 04:14 AM

 

 
All times are GMT -6. The time now is 01:45 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.