Where will you be in five years?

[caninelover]

Interesting thread. I'm 40, and in 5 years I want to be:
1. Debts: pay off remaining student loan (will be done by YE 2014), only remaining debt would be mortgage, which would be <$100k at that point.
2. Assets: Net worth close to $1 M (halfway there now, so still some work to do but on the right path), and on track to FIRE by 55-ish.
3. Other stuff: will be single and no kids, working/living in same place, hopefully both myself, parents and siblings will continue to enjoy good health. Continue to travel and enjoy life as much as the j*b will allow.

Will be interesting to look back on this in 5 years...

 

[Steel Rain]

Love this Thread. I am 47 so hopfuly i will be 52 as will DW. I hope to still be with Mega Corp but closing in rapidly on ER. I expect to have about 1.4M in liquid assets with a target total of 1.8M by 55. I am basically in a race with my employer, I have to get to FI before I zig when i should zag and get zapped. Best thing to have happen is to get zapped close to ER with a nice exit package

Steel

 

[foxfirev5]

Holy crap in 5 years I'll be 62! Time to take this Fired thing serious and wrap things up at w$#k.

 

[Huston55]

Holy crap in 5 years I'll be 62! Time to take this Fired thing serious and wrap things up at w$#k.

Zactly!

You don't want the worst thing* to happen.


* __________________
"What's the worst thing that could happen - I keep my job."

 

[cardude]

5 year Plan

In 5 years we will have both boys in college (knock on wood), and then I can actually, really, totally retire.

I have a plan to sell (and owner finance) the used car lot to my current manager and his father. The father recently inherited a decent chunk of money they can use for working capital, or the manager may have enough saved up after 5 years to do it himself.

Might sell the house and downsize and relocate to a more interesting city. Austin is on the radar.

Want to live 3 months out of the year in Costa Rica in a rental (not buying).

Would like to live on a boat for a year and do the "Great Loop" and the Bahamas.

 

[FUEGO]

Would like to live on a boat for a year and do the "Great Loop" and the Bahamas.

Is your wife on board?

 

[cardude]

Is your wife on board?

Allegedly, yes.

 

[REWahoo]

5 year Plan

Would like to live on a boat for a year and do the "Great Loop" and the Bahamas.

Is your wife on board?

Allegedly, yes.

So she sailed without you?

 

[Sarah in SC]

Bahamas first for sure! The loop is for old people!

 

[JoeWras]

In 5 years I'll be FIRE'd. And it could happen much earlier than that.

Funny thing. Megacorp is making us go through a CPP "career planning process". The first thing they ask is where do I expect to see myself at Megacorp in 5 years, and what do I need to get there.

Ha ha ha. Sorry, won't be there. But I can't really tell that to the boss because I don't want to be lame duck, so we go through the charade and make up something about getting to the next level, blah, blah, blah.

And HR people wonder why employees hate this process?

 

[Gasdoc]

Cool thread, indeed....hope it gets rediscovered in 5 years so we can all see how we did. For me....
1) DW and I will be 40. Kids will be 8 and 7.
2) If all goes according to plan, I will still be working for the same group, at the same hospital.
3) Ravens will hopefully have won another Superbowl
4) Mortgage close to being paid off.
5) Surpassed my personal savings goal.
6) Hope to be just as happy as I am today!

Good luck to us all in our 5 year forcasts!
GD

 

[Lazarus]

A former supervisor at megacorp asked me in a performance review where I wanted to be in 10 years. I said retired. It kind of went downhill from there. And I am retired. He left for another company and is still working.

 

[GolfingDuo]

5 years ago I hoped I would be right where I am. Financially planning my retirement. Take this forward 5 years from now I want to be making my final preparations to leaving Snowchusetts (Massachusetts) to warmer climates. Making financial arrangements to begin to set aside money for my darling daughter and planning my first fully retired trip. I am 55 years old soon to be 56. Totally vested in two pensions one set to be collected anytime I am not working the other set for age 60. If I make it to age 60 where I work I will absolutely be looking at a part time job while the wife works full time for another two years. I do hope though in 5 years that maybe I can go back to where it began for my DW and I Seoul South Korea (married there 1980 and left 1982 and not been back).

 

[Lisa99]

Five years from today we'll be 18 months into retirement; I'll be 56 and DH will be 52. We will have finished our first triathlon, be in the middle of our second pickleball tournament season and figuring out which three months we're going to live in Italy and Paris.

 

[RI Mike]

In 5 years my wife and I will be 31 and 33 with two little ones hopefully. Our CC debt and student loans paid off and be saving upwards of 20% towards retirement annually!

 

[ls99]

Hope to be above ground figure skating instead being patted on the face with a shovel by guys in dark suits and stovepipe hats.

 

[citrine]

In 5 years I will be:

38 years old
Saving like a mad woman
Living in North Carolina in a house
On my way to becoming a famous artist

So, it's been five years and I am 38 and saving....but the rest of the story has changed so much! LOL! I didn't account for a new career, a husband, and stepsons!
5 years from now....All college and child support obligations will be over, house will be almost paid off, and I might have a bigger studios with people working for me

 

[eridanus]

-I'll be FI and probably semi-RE. If I don't make the number, I'll reduce my expenses to fit what I have.

-Trip to one or more of Angkor, Bhutan, and New Zealand.

-Trying to decide where to build a house.

 

[MissGina]

I will be 37 in 5 years. I am currently able to save $30k a year, but this year I have $14k of student loans left to pay off and I need to buy a new car for around $10k. So I better have $220k saved 5 years from now. I have around 100k already saved in mutual funds, retirement accounts and a few electric company stocks.

I don't think I will have kids, but the current boyfriend has two already and wants another (sigh). Either way still not going to retire until 53 due to the possibility of having kids and will be staying home with them if I do.

Can't wait to return to this thread and see how things turn out. Especially the kid part.

3 year update. Didn't not buy a new car! My current 1998 Camry (I had for 11 years! 231k miles on it is still going). Getting ready to buy rental property with tenants already living in it! No boyfriend or kids (YEAH) so all is looking good in that area!

Finally, I am on target to have closer to $300k saved by the end of next 2 years! Will update then. May change the retirement age at that point.


Sent from my iPad using Early Retirement Forum

 

[W2R]

Wow! Was I ever off the mark.

Yes, I retired on schedule in 2009, and I am completely decompressed and unwound after my working years.

But I'm not living in Missouri. I bought a house here instead of there, and it doesn't need painting or decorating. I know nothing about snow. And somehow I completely lost the desire to plant a vegetable garden or anything else.

In five years...

I will have been retired for three years;
I will be living in Springfield, Missouri;
I will have owned my house there for two years;
I will just be finishing the process of furnishing, painting, and decorating it;
I will know all about snow and will be giving advice to southerners on the forum planning to move north;
I will have FINALLY decompressed and completely unwound after my working years;
and...
I will be planning my vegetable garden to plant in the spring! (hint: cherry tomatos! lettuce! green beans!)

 

[bbbamI]

I'm not a young dreamer, but I guess I can reply. In five years I hope to be thankful for each day. By then, we will be living off a pension and DH's retirement fund. I like to think that he and I will be doing more things as a couple and growing old together gracefully.

Well, we are getting older...

 

[MichaelB]

Well, we are getting older...

And that be a good thing

 

[simple girl]

Well, blast from the past this is. Let's see...

1) I'm essentially retired. I do teach a few days a week, but only b/c I love it - not b/c I have to.
2) DH is still working full-time. We have not amassed enough $ to take the plunge into full semi-retirement. We also need the health care coverage situation to become clearer before we take any leap, since I am now essentially uninsurable on the private market (due to a significant health issue we had no clue was coming our way).
3) My father passed away summer of 2008 - didn't know how prophetic my statement would be.

Despite all of that, we are happy to be alive and enjoying life!

Well, things are essentially the same as 2 years ago! We've built up more money, and are feeling much closer to taking the plunge, but not quite yet. Our goal is to move to the Sarasota, FL area by 2018 and have DH be fully retired. He would rather continue working FT so that he doesn't have to work part-time (unless he WANTS to). I would love to continue teaching but hope to find a way to do it online so that I can teach from anywhere we happen to "land" in retirement. I've been doing some research into that lately.

In the meantime, still healthy and very much enjoying life! Very thankful for that given my cancer diagnosis in 2011. Every day is bonus!

 

[NW-Bound]

Hope to be above ground figure skating instead being patted on the face with a shovel by guys in dark suits and stovepipe hats.

This is also my hope, to stay above ground and with self-locomotion.

I'm not a young dreamer, but I guess I can reply. In five years I hope to be thankful for each day. By then, we will be living off a pension and DH's retirement fund. I like to think that he and I will be doing more things as a couple and growing old together gracefully.

Well, we are getting older...

One of two is OK?

 

[chris2008]

DH will be 66 and I'll be 60, both retired in 7/2013.
We have kept health up and even improved a bit, exercising regularly.
We will have travelled a lot. Per year one trip longer than 4 weeks, one long bike tour and smaller trips whenever something too good to pass pops up or the weather is right or... or... or...
We have used 20% of our savings to bridge the gap till my pension kicks in (at 60,5).
Life is good and will be good then.

Retired 9/2013. Most of the other items are as planned. Life is good.