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Old 08-27-2007, 10:14 PM   #21
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We have a range of FIRE dates: minimum 2012 (age 38, portfolio should be large enough to pay for all mandatory expenses plus a bit more), ideally 2017 (age 43, portfolio should be large enough to maintain current lifestyle, i.e. plenty of cash for fun stuff), maximum 2024 (age 50, that's in case the market returns less than 5% adjusted for inflation or our abilitiy to save money decreases over the next 10 years).
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Old 08-27-2007, 10:28 PM   #22
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Best guess between 2012 and 2017, when I'm in my early to mid forties. So many things could impact this that I'm not making any plans based on those dates yet! Health care expenses, tax law changes, market returns, maybe buying a home, income from hobbies...
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Old 08-27-2007, 10:47 PM   #23
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Wow...lots of projected early retirements here. I'm hoping to ER in Aug. 2008 (50 yrs. old), but plan PT work in fitness (because it is my interest and for some spending money). DH will continue working for another 5 - 9 years (until 55 or 59 1/2). I don't want to touch my IRA and Roth's until much later. So, just wondering what folks are doing for $ until they are 59 1/2? 72Ts? Just wondering if I'm missing the obvious.
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Old 08-28-2007, 02:42 AM   #24
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I'm shooting for sometime this decade...as in before 12/31/2009. I'm currently at about 28x expenses, and want to get to 31x. The problem is, I originally told myself that my target was 25x, but when I got there, I had second thoughts. Hope it doesn't happen again at 31x!
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Old 08-28-2007, 03:51 AM   #25
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First quarter 2012
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Old 08-28-2007, 05:52 AM   #26
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July 2008. I had been entertaining various scenerios for extending that date, particularly because I would be eligible for Government-subsidized health insurance if I hung on for an additional year. But, I was reminded once again this morning how unpredicatable life is when, on a whim, I ran a google search on the name of an old high school sweetheart and pulled up her obituary -- she was only 51. Life is too damn precious to waste any more of it doing something I don't really find rewarding. So, I'm making a firm commitment to pull the plug in July 2008. I would probably seriously consider an earlier date but for the fact that I have 20 weeks of leave on the books . . . so the next 10 months should be relatively painless. I'll be 59 next July. Pulling the plug will be my birthday present to myself.
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Old 08-28-2007, 07:26 AM   #27
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Soon!

I have done some fairly strategizing/calculations and have decided that I can FIRE at 43 years old in 2012. The DW is 11 years younger and will w*rk another 5-10 years as needed to round out the details. She LIKES to w*rk!!!
I will be the homemaker, handyman, gardner, chef, nanny, and putter around making some hobby income myself.
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Old 08-28-2007, 08:06 AM   #28
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earliest will be 2026, when DH is 50 and gets his pension. Many factors may extend it ... I don't see much of anything that would shorten it.

dog - our plan is to live off the pension (and gov't subsidized health care!) and taxable savings until 59 1/2. Also, there will likely be some income generation from things DH and I like to do that we don't consider w*rk. Our home will be paid off by then and we plan to garden and raise some small livestock so our expenses will be low ... until 2026 we're living all over the world on the taxpayer's dime so we may wear out the travel bug by retirement time, so won't have that expense.
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Old 08-28-2007, 08:10 AM   #29
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Oh DEAR...I've got ALL of you beat! Our anticipated retirement date is 1st quarter of 2035. DH will be 58, I'll be 56...DH needs to stay till then to get full pension so that's the "plan" however, it might change depending on wear and tear (he's a mailman). Might be worth it for him to leave if his knees or back get bad. Like Geoffrey pointed out, life is too short...

As for me, we've talked about me getting out a few years earlier, perhaps doing something part time that I really love...but as you can see, we have a long time to think about it! It will also depend on whether we decide to have children. It's early...DH makes fun of me, but tells me he secretly is happy I'm so obsessed with doing what we have to do today to make sure we get what we want tomorrow.
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Old 08-28-2007, 08:12 AM   #30
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Some people don't do this by date, but rather by assets accumulated or reduction of one-time expenses (e.g. college tuition, house paid off, etc.). In some ways, that's less arbitrary than a fixed, distant date though I imagine it would get frustrating when the market stalls.

Personally I use a hybrid: it will not be any later than a certain date almost regardless of my financial situation (haven't quite picked that date yet ), but possibly sooner if the savings grow faster than expected.
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Old 08-28-2007, 08:27 AM   #31
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FI should happen around 2023 I will be 45. It requires an 8% ROR and holding the line on lifestyle creep. The ROR seems to matter +or- 3 years. The big factor is lbym. Ever since making that calculation I have not been as concerned about the market as I have been about expenses. Hopefully I will still enjoy my work and will be able to feather the nest for a couple of years before retiring. Even better DW may enjoy her's
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Old 08-28-2007, 09:51 AM   #32
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Good lord willing and the creek don't rise, 2027. I'll be 52, wife will be 49 and she'lll work another 5-7 years.

Man, 2027 is a looooong way away. Good thing I like my life in spite of my j*b.
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Old 08-28-2007, 11:48 AM   #33
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Good lord willing and the creek don't rise, 2027. I'll be 52, wife will be 49 and she'lll work another 5-7 years.

Man, 2027 is a looooong way away. Good thing I like my life in spite of my j*b.

I feel your pain
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Old 08-28-2007, 12:58 PM   #34
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I really, really want to be done by age 40, which is early 2016. I know well that fools plan and the gods laugh, and that life can really change. But when I think about getting the hell outta the cube farm, age 40 is always in the back of my mind.

I'll have to utilize after-tax savings and 72t withdrawls to make it happen.
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Old 08-28-2007, 01:28 PM   #35
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I'm waivering between April 2008 and April 2009 after collecting the previous year's KEOGH contribution which is consistently 25% of gross income, business is currently thriving so no worries there.

I could probably get by retiring now as I'm sitting on 30 times current expenses including a small pension annuity which kicks in at age 62 and SS which I would take as soon as I retire.

I'm going for a later date because I may want to increase expenses soon with higher housing expenses. I don't worry about health insurance, I could cover that, expect it to be about $500/month until age 65. I'm 60 now.
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Old 08-28-2007, 01:46 PM   #36
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2029, on my 55th birthday. It's too far off to think about too much. It will be built on a 50% pension, about $1,000,000 in 2007 dollars in investments, and a paid off house.
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Old 08-28-2007, 03:02 PM   #37
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2Cor - I am 38, my planned retirement date is 6/30/2021 - I will be 52. That date gives me my 30 years in the federal gov't - so full pension at 57.

Also, my spreadsheet goes out until I am 90, which is in 2059.

However, if my investments do better than expected (my projections are very conservative), then I may go earlier - I can plug in scenarios where I receive a reduced pension if I only stick around until I am 47 or whatever.

Karen
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Old 08-30-2007, 02:14 PM   #38
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an Excel spreadsheet that goes out to about 2045 and has a couple dozen different columns of data.

Mainly I just want to see if I'm the biggest loser on this site ;-).

2Cor521
Mine just got to about a dozen - and now I have to start factoring in the taxes/withdrawal etc...

Spring of 2018 so far but Medical remains the biggest unkown and will dictate it
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2022? I don't even know what the weather will be like Tuesday.
Old 08-31-2007, 11:06 AM   #39
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2022? I don't even know what the weather will be like Tuesday.

I guess my date is around 2022 as well. I certainly keep tight records on what I have now, how much I can save and so forth - and of course I'm planning as if things will go along as they are. But I'm a little confused that so many people here - especially in the "young dreamers" category - believe they can predict what their finances (and lifestyle) will be 15 years from now.

I don't need to rattle off the things that could sour such a FIRE deal (or speed the day forward), but just on my own there are many uncertainties: My job, my wife's job; neither are things we can count on being there forever, not owning a house (L.A.: 1000 sq ft house is still about $680,000), both sets of parents getting older, may need to relocate out of the city, may have to take jobs that pay less, health insurance may skyrocket, we may get quite sick or injured, may need to replace our cars, may not be able to maintain our current savings rate...

Then there's the one I fully expect - the market returns will revert to the mean. I don't think it unlikely we will see a market that will go sideways for a few years and might not even keep pace with the inflation rate. And that's not even considering other big political problems the US might encounter.

By nature I can be a bit of a pessimist, but it doesn't stop me for planning and saving and investing. Still, I'm curious: Do many of you in your 30s at least acknowledge that with all the FIRE calculators in the world, there are way too many unknown quantities out there to pin down an exact day 15 years into the future?
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Old 08-31-2007, 12:34 PM   #40
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August, 2011. I will be 50 and will have been at the same company for 25 years. Electable for full retirement benefits. Including a decent pension. However if I can not convince my wife to retire and move I will wait a couple of years. If I can't move away from here I don't want to be retired. If I must live in Hell I may as well work.

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