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01-19-2013, 07:17 AM
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#141
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Recycles dryer sheets
Join Date: Nov 2012
Location: Kearneysville
Posts: 239
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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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01-19-2013, 11:07 AM
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#142
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Full time employment: Posting here.
Join Date: Jan 2012
Posts: 518
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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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01-21-2013, 06:54 PM
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#143
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,558
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Quote:
Originally Posted by Nords
I miss Jarhead.
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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.
__________________
Deserat aka Bridget
“We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm.”
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01-21-2013, 07:28 PM
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#144
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Location: North Bay
Posts: 1,246
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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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01-21-2013, 11:06 PM
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#145
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Recycles dryer sheets
Join Date: Dec 2009
Location: Hyderabad
Posts: 75
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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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01-22-2013, 05:50 AM
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#146
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Thinks s/he gets paid by the post
Join Date: May 2011
Location: South Eastern USA
Posts: 1,068
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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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01-22-2013, 06:16 AM
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#147
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Recycles dryer sheets
Join Date: Aug 2011
Location: GA
Posts: 211
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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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01-23-2013, 10:15 PM
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#148
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Confused about dryer sheets
Join Date: Jan 2013
Posts: 1
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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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01-24-2013, 05:55 AM
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#149
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Confused about dryer sheets
Join Date: Jan 2013
Posts: 9
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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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01-24-2013, 07:59 AM
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#150
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: The Bay Area
Posts: 2,736
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Quote:
Originally Posted by Comspec2600
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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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!
__________________
You may be whatever you resolve to be.
100% x 10% > 10% x 100%
Small pensions & SS cover essentials
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01-27-2013, 01:54 PM
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#151
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Full time employment: Posting here.
Join Date: Jun 2009
Location: SoCal
Posts: 569
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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 $1 M (halfway there now, so still some work to do but on the right path), and on track to FIRE by 55-ish.
3. Other stuff: will be single and no kids, working/living in same place, hopefully both myself, parents and siblings will continue to enjoy good health. Continue to travel and enjoy life as much as the j*b will allow.
Will be interesting to look back on this in 5 years...
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01-27-2013, 06:39 PM
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#152
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Recycles dryer sheets
Join Date: Apr 2012
Location: Oswego
Posts: 76
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Love this Thread. I am 47 so hopfuly i will be 52 as will DW. I hope to still be with Mega Corp but closing in rapidly on ER. I expect to have about 1.4M in liquid assets with a target total of 1.8M by 55. I am basically in a race with my employer, I have to get to FI before I zig when i should zag and get zapped. Best thing to have happen is to get zapped close to ER with a nice exit package
Steel
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01-27-2013, 06:45 PM
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#153
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,983
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Holy crap in 5 years I'll be 62! Time to take this Fired thing serious and wrap things up at w$#k.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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01-29-2013, 04:08 AM
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#154
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: The Bay Area
Posts: 2,736
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Quote:
Originally Posted by foxfirev5
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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Zactly!
You don't want the worst thing* to happen.
* __________________
"What's the worst thing that could happen - I keep my job."
__________________
You may be whatever you resolve to be.
100% x 10% > 10% x 100%
Small pensions & SS cover essentials
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01-29-2013, 05:20 AM
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#155
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Full time employment: Posting here.
Join Date: Feb 2006
Posts: 599
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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.
__________________
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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01-31-2013, 10:20 AM
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#156
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by cardude
Would like to live on a boat for a year and do the "Great Loop" and the Bahamas.
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Is your wife on board?
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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01-31-2013, 10:31 AM
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#157
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Full time employment: Posting here.
Join Date: Feb 2006
Posts: 599
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Quote:
Originally Posted by FUEGO
Is your wife on board?
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Allegedly, yes.
__________________
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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01-31-2013, 10:36 AM
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#158
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
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__________________
Numbers is hard
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01-31-2013, 08:59 PM
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#159
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
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Bahamas first for sure! The loop is for old people!
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
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02-16-2013, 08:06 AM
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#160
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Posts: 11,701
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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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