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Old 04-08-2016, 01:28 PM   #21
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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.
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Old 04-13-2016, 01:31 PM   #22
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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)
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Old 04-25-2016, 09:00 AM   #23
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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".
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Old 05-18-2016, 09:19 AM   #24
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Found out that my company does pay taxes on our behalf for this incentive trip.
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Old 07-06-2016, 08:25 AM   #25
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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!!
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Old 07-31-2017, 02:38 PM   #26
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Investable assets just cracked $313k

+$100k in the last 12 months.
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Old 08-02-2017, 10:26 AM   #27
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Nice, congrats! you're doing great...
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Old 08-02-2017, 11:53 AM   #28
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Investable assets just cracked $313k

+$100k in the last 12 months.
Congrats and thanks for the updates.
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Old 08-02-2017, 12:17 PM   #29
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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.
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Old 08-02-2017, 01:22 PM   #30
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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
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Old 08-03-2017, 06:54 AM   #31
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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?
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Old 08-03-2017, 08:42 AM   #32
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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
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Old 11-23-2017, 07:30 PM   #33
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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.
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Old 02-24-2018, 08:37 AM   #34
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Did everyone survive the market correction?

Sitting @ $375k net worth. That's $15k/yr @ 4% draw down.

Spending for 2017 came in @ $24k, therefore I am able to cover 62% of my actual spending through investments.
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Old 04-27-2018, 12:21 PM   #35
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Very cool to read this. I'm 27 so this is inspiring.

Background: Been out of college with a Master's since Dec. 2015. Just came across this site. My FIRE goal is 50 w/ $5M nest egg. Married. DINK.

Currently This is where I am at.
Mid to high 90’s salary (wife + me) plus some incentive compensation (variable)
Paying off ~$2k/month in consumer debt

Budget is $5k/month in KC area.

Currently at $30k Investable Assets
Currently at $40k Consumer Debt
Currently at $215k Mortgage

On track to have consumer debt paid off by EOY. 2019 and beyond will max Roth IRA's and 401k.
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Old 04-27-2018, 12:28 PM   #36
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Originally Posted by KCScubaSteve View Post
Very cool to read this. I'm 27 so this is inspiring.

Background: Been out of college with a Master's since Dec. 2015. Just came across this site. My FIRE goal is 50 w/ $5M nest egg. Married. DINK.

Currently This is where I am at.
Mid to high 90ís salary (wife + me) plus some incentive compensation (variable)
Paying off ~$2k/month in consumer debt

Budget is $5k/month in KC area.

Currently at $30k Investable Assets
Currently at $40k Consumer Debt
Currently at $215k Mortgage

On track to have consumer debt paid off by EOY. 2019 and beyond will max Roth IRA's and 401k.
Welcome to our wonderful site.
Keep up the savings and investing. Great to discover this site at a young age.
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