Confused 30 Year Old

[Davis65]

Teej, good for you for doing a gap year. Travel when you're young is quite different from when you're older. We took our first big post retirement to in the fall - two months in Iceland and central Europe. It was amazing, but it was different from the travelling that I did when I was young.

I know know that the travelling I did when I was young (22-23) was huge in shaping who I was as an adult.

You're further along in your life that I was, but I think it will still make a tremendous impact on how you view the world and what you do not with your life.

So, where are you planning to go? (I broke my ankle towards the end of our trip, so I can only travel vicariously for now, but I'll be back - I haven't been everywhere yet, but it's on my list.)

[teej1985]

Quote:

Originally Posted by Davis65 Teej, good for you for doing a gap year. Travel when you're young is quite different from when you're older. We took our first big post retirement to in the fall - two months in Iceland and central Europe. It was amazing, but it was different from the travelling that I did when I was young. I know know that the travelling I did when I was young (22-23) was huge in shaping who I was as an adult. You're further along in your life that I was, but I think it will still make a tremendous impact on how you view the world and what you do not with your life. So, where are you planning to go? (I broke my ankle towards the end of our trip, so I can only travel vicariously for now, but I'll be back - I haven't been everywhere yet, but it's on my list.)

Thanks Davis, will mostly be exploring the US this time around. Think national parks, historical sights and new cities. I might do a year abroad somewhere but more likely to work a few years before doing that. It all depends on how much I end up spending while traveling. The good news is that all I need to do to match my current housing costs is spend $1k/mo on lodging, and that will be pretty easy to stay under - I have a month long room rental booked in New Mexico for like $500.

[teej1985]

Quote:

*401k: 36k (70/30 stocks/bonds - stocks are large US value and bonds are US corporates - mix of Vanguard Equity Income and Vanguard Wellesley Income) *IRA: 50k (65/35 stocks/bonds - stocks are large US Value and bonds are US corporates - Vanguard Wellington Fund) *Taxable Account: 165k (roughly 90/10 stocks/cash - stocks are in Betterment's 100/0 allocation, this is all index funds with an international tilt.

It looks like i started this thread about four years ago. I figured I would provide an update.
I still have no clue what the future will bring. While I did stop working March 2017, I was back working by Summer/Fall 2017.
My gap year was ruined for a couple reasons. 1.) I did not enjoy solo travel and I did not have a Plan B for what to do with the time. 2.) I wasn't sure how long the money would last even though I had contingencies like X amount in cash and X amount in bonds. I found it difficult to spend money even though I planned for it.
That job from Summer 2017 wasn't for me and I was voluntarily unemployed for all of 2018.
I took a job in January 2019 to work for the TSA in Hawaii. It sounded like an adventure, but really I took it because I figured it was a good way to transition into another government agency. By the end of September 2019, I was out of TSA and into another part of the government.
As of the end of November 2020 my financial stats went from the above to: $255k in IRA/TSP/HSA $95k in Taxable Account. But I also paid cash for my current 1 BR residence in mid 2017, so it's worked out I suppose even though it didn't go exactly as planned.
I still really have no idea what I want to do with my life. For the time being, the government work is low stress and enjoyable at times. I like that there are so many different things you can do in the government, and different places you could live and contribute to the same pension. it's hard to believe I would want to keep doing it until age 57, but if I did, I would have the retiree health insurance.
If I did commit to working until 57, I would not need to save as much as I have been saving. Expenses would be lower due to subsidized health insurance and income would eventually be higher due to more SS and FERS covered earnings.
I've been saving as much as I can, because I don't really know anything else, but maybe I will want to retire early.
Ultimately, I do still want a life partner and I am beyond disappointed that it has not happened, but it feels out of my control other than continuing to put myself out there and meet people. Much harder to do in Covid times.
I apologize for the formatting.. i have tried to fix it, but the forum keeps running it all together.

[SnowballCamper]

Looks like you're off to a great start. I would recommend being more aggressive with your asset allocation... assuming you have the discipline not to panic sell in a downturn and continue with index investing, closer to 90% stocks... Spend your energy on your career for the greatest return at your age (over the next decade).

[teej1985]

Quote:

Originally Posted by SnowballCamper Looks like you're off to a great start. I would recommend being more aggressive with your asset allocation... assuming you have the discipline not to panic sell in a downturn and continue with index investing, closer to 90% stocks... Spend your energy on your career for the greatest return at your age (over the next decade).

My retirement accounts have been 100% stock for a couple years. I have a fair amount of cash in taxable though. Not sure if I want to buy property or not in my next location.


With the spring 2020 crash, I did not sell anything, I also did not look at my balances for my typical monthly account check.

[teej1985]

I crossed $500k in the summer, but then took on a mortgage.

Since the beginning of 2021, I Moved from Arizona to California back to Arizona. Sold a 1 BR Co-op right before the market started heating up, bought a 2BR condo about a month ago, a relatively bad time but it's nice having space to comfortably Work From Home.

I switched gears in my government agency - from auditing to facilities management. It has been fun to try something totally different.


Still hopelessly single though.

[Bamaman]

Your greatest allies are TIME and COMPOUNDING.
And you've got a good start on a long term savings program.
Just keep on saving, and pay close attention to the market and which equities are in vogue at the time. Be moderately aggressive.
You have the time to be fully funded and ride out any expected peaks and valleys.
And don't forget to enjoy life while you're saving.

[teetee]

You are only 36. I started saving from 0 when I was 36. I am 44 now, still single, and I don't think it will change.

I do have $1m nw and look forward to retire when I am 54. Hopefully by then I have relatively good health because One of my plans after FIRE is live on the road for several years.

[teej1985]

Quote:

Originally Posted by teetee You are only 36. I started saving from 0 when I was 36. I am 44 now, still single, and I don't think it will change. I do have $1m nw and look forward to retire when I am 54. Hopefully by then I have relatively good health because One of my plans after FIRE is live on the road for several years.

Nice! I was on the road for about 2 months in 2017, but I found it a bit lonely. I had originally planned to go an entire year, see a bunch of different national parks, but obviously that didn't happen.

Right now my plan is to in government until 57, when I'm eligible for lifetime retiree health insurance, but that could certainly change.

[OldShooter]

Quote:

Originally Posted by teej1985 ... With the spring 2020 crash, I did not sell anything, I also did not look at my balances for my typical monthly account check.

You are wiser than most. We've been riding Mr. Market since the 1987 crash and have done exactly as you have done. It gets easier and easier as you keep doing it.

[Martinboyle_85]

Don't worry too much confusion is part of your growth talking from a personal experience. It's okay to get confused before reaching your goal. so it won't be a problem in a very years of time.