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Old 01-19-2013, 08:17 AM   #141
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I'll play, although 5 years from now I am probably going to be in pretty much the same position I am in today. In 5 years...
- I will be just turning 54, and my DW will have turned 48 (she will not like that)
- I will be still working for megacorp
- I will be 1 year from qualifying for early retirement at megacorp, although taking an out before 60 really will not be an option
- My son will be 15.5, and I will have a better idea what kind of college material he is, and how much it will cost me
- My 401K should be around $1.5 mil, and if so I will be on track for FIREing at 60
- My Roth IRA should be around $160,000
- My mortgage will still be with me, with a balance due of about $260,000
- I will be retired from the Army, missing my drill pay every month and counting down the days until it kicks in again at 60
- The government will still be running trillion + $ deficits, and inflation will finally be roaring to life
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Old 01-19-2013, 12:07 PM   #142
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In 5 Years......

I'll be 39, and DH will be 41.
I'll have my first gray hair. DH will have less of his.
We'll be in the same jobs, DH at Megacorp, me self-employed.
Our invested assets will be about 1.3 Mill, and our net worth will be about 1.6 Mill.
Our beloved cats will have passed away.
My mom will be thinking about retiring.
My father in law may be ready for an assisted living community.

Those are my predictions, but if we manage to stay healthy, happy, and gainfully employed, there will be little to complain about.

SIS
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Old 01-21-2013, 07:54 PM   #143
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I miss Jarhead.
Yup - and a few others - wondered what happened to them.

As for five years from now - wow - I do have plans, but when I look back five years ago, I'm was not good at predicting where I am now. The only constant has been being as frugal as possible while enjoying life and getting as many experiences in life as possible. The other amazing thing is the time value of money (so far!) Every penny saved has earned or been worth much more than that which I could have purchased with it outside of what I truly needed. I.e., my net worth is a lot higher than I thought it would be at any time....taking care of the pennies and dollars has had me gain many more of them.
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Old 01-21-2013, 08:28 PM   #144
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I must have missed this thread 5 years ago. At the time I was (due to closure of the office where I w*rked) semi-RE, doing PT consulting and thinking about full-time RE. Well, my DW had other thoughts...to her, retirement meant irrelevance and decrepitude...and so after a few more years of consulting, two years ago I climbed back in the MegaCorp saddle and am w*rking fulltime with DW and son overseas. I'm definitely not where I expected to be!

Five years hence, I expect to be aligned with DW that RE brings freedom, growth opportunities, and chance for increased relevance. And we will be watching our last son graduate from college from our retirement home, planning a hiking trip somewhere in Europe, volunteering a couple of days a week at the local charity of our choice, and eating fresh vegetables from the garden year-round!
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Old 01-22-2013, 12:06 AM   #145
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5 years from Now :

* I would continue to be Happy , Healthier & Alive .. married to same person :-)
* Since we'll be alive means we'll be 45+ in age.
* We must have moved into our house (off-course paid off) and rental property would start throwing in good income.
* DH must have already retired with retirement portfolio well in comfort zone.
* DD would have gotten admission into world class Engg. institute (IIT) and would be on track to complete her graduation well within our education budget of 25K. DS must be on track to get there as well since he is already getting 2 digit ranks in standardized tests at All India level.
* Would have taken our post retirement celebration grand trip to Australia and explored lots of remote villages in Himalayas.

May we all realize what we dream of and may we all have sense to prioritize and dream right..

-DesiGirl
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Old 01-22-2013, 06:50 AM   #146
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5 Years ago: The major project I was working on was terminated. This project would have lasted 10-15 years. I had been idly guestimating retirement at age 58-59 using very unrefined expense numbers and projected pension payouts. Estimate did not show feasible retirement until age 58-59. Flashforward to 2011: MEgacorp is finally disbanding the remaining staff after the 2008 project termination, I got serious about estimating and projecting expenses and income, then FIRE'd with pension. Small market dip in fall 2011 scared me into looking at which contingencies to implement to reduce spending. 2012: Windfall "part time retirement job" allows much added margin.
Now: things are tracking nicely, exceeding projections.
5 years from now: DS#2 finishing college, DS#3 in 9 th grade. Hopefully things still tracking nicely. Maybe doing some part time work, maybe not. Keeping an open mind and remaining advertant.
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Old 01-22-2013, 07:16 AM   #147
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5 years from now:

- I'll be 48, that's the only thing I know for sure
- I hope to be just a couple of years away from paying off the house
- My company's JV agreement expires so I hope I still have a job
- I hope to be healthy and running half-marathons like they were easy
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Old 01-23-2013, 11:15 PM   #148
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Current I save 880 bi-weekly 21,120 a year in to the Roth TSP, including the government match at my current age of 28. Or 1416 monthly not including the match. In 5 years I hope to have atleast my annual salary saved towards retirement. I am still pretty young and can take advantage of the compounding interest. What do you all think and where do you all feel that will place me money wise, with no changes to saving at my time of retirement?

-Clark
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Old 01-24-2013, 06:55 AM   #149
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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.
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Old 01-24-2013, 08:59 AM   #150
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Originally Posted by Comspec2600 View Post
Current I save 880 bi-weekly 21,120 a year in to the Roth TSP, including the government match at my current age of 28. Or 1416 monthly not including the match. In 5 years I hope to have atleast my annual salary saved towards retirement. I am still pretty young and can take advantage of the compounding interest. What do you all think and where do you all feel that will place me money wise, with no changes to saving at my time of retirement?

-Clark
Comspec-

Not enough info in your post to answer your question. But, below is a great link that answers this question for multiple savings scenarios. You can also do searches on this forum for similar subjects.

How many years does it take to become financially independent?

Also, suggest you go to the "Hi, I am..." Forum and introduce yourself. There's a sticky with instructions.

Welcome to ER.org!
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Old 01-27-2013, 02:54 PM   #151
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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...
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Old 01-27-2013, 07:39 PM   #152
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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
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Old 01-27-2013, 07:45 PM   #153
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Holy crap in 5 years I'll be 62! Time to take this Fired thing serious and wrap things up at w$#k.
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Old 01-29-2013, 05:08 AM   #154
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Holy crap in 5 years I'll be 62! Time to take this Fired thing serious and wrap things up at w$#k.
Zactly!

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Old 01-29-2013, 06:20 AM   #155
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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.
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ER'ed from the new car business Feb 2008. I'm 47, she's 45. Two boys ages 15 and 13. DW is SAHM. I've got a part-time used car lot I w*ork at 3 hours a day that keeps me in beer money.....
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Old 01-31-2013, 11:20 AM   #156
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Would like to live on a boat for a year and do the "Great Loop" and the Bahamas.
Is your wife on board?
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Old 01-31-2013, 11:31 AM   #157
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Is your wife on board?
Allegedly, yes.
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ER'ed from the new car business Feb 2008. I'm 47, she's 45. Two boys ages 15 and 13. DW is SAHM. I've got a part-time used car lot I w*ork at 3 hours a day that keeps me in beer money.....
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Old 01-31-2013, 11:36 AM   #158
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5 year Plan

Would like to live on a boat for a year and do the "Great Loop" and the Bahamas.
Quote:
Originally Posted by FUEGO View Post
Is your wife on board?
Quote:
Originally Posted by cardude View Post
Allegedly, yes.
So she sailed without you?
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Old 01-31-2013, 09:59 PM   #159
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Bahamas first for sure! The loop is for old people!
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Old 02-16-2013, 09:06 AM   #160
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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?
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