2030 Fire Thread- Who's in?

[Lazyfabs]

2030, but hoping for 2028

asset allocation hovers in the ~65 stock/~35 bond
DW/me: 52
2 kids 13.5 & 12
Networth ~3,900,000
Goal: clear ~150,000/yr from investments + pension to play with, keep lights on, water flowing, etc. upon pulling the plug.

Tax Deferred:
401k/401K Roth: max + max catch-up contribution to both
DW: ~750,000
me: ~650,000

Trad IRA:
DW: ~950,000
me: 0 (use it to do back-door roth since DW has been rolled over multiple times and recharacterizaion would be a nightmare and taxes)

Roth IRA:
DW: ~95,000
me: ~85,000

Taxable:
Brokerage: ~550,000
Cash: ~100,000
ESOP/RSU/ESPP: ~400,000 (vested - exercisable/sellable); ~325,000 (unvested potential value)

Pension:
me: @58 reduced gross ~15,000/yr; @60 ~18000/yr gross; DW would get a survivor benefit if i go before her basically to cover medical insurance; cola adjusted
DW: @60 ~15,000/yr gross; non-cola adjusted

Health Insurance:
eligible under employer @58; DW would stay on it if i go before her for life.

College:
529/UTMA: ~65,000 X 2; we put enough to get state tax benefit, plan on using any of our monies to offset any shortfalls or hope kids are extra nice to qualify for a grandparental scholarship

SS:
DW: ~3,250 @ FRA
me: ~2,500 @ FRA
plan both at 67+ or if at 62 makes sense to do spousal benefit then we might do so.

 

[cooch96]

Invested assets are now $1.25M. My more specific goal now is to semi-FIRE in summer of 2023. That'll give me two whole years of bonuses and I'll get my 15-year tenure gift, but we shall see what the future holds.

I went kayaking this morning and it was lovely. The water was much warmer than the air and the breeze was calm. I ventured into a cove and saw deer and eagles (and a homeless encampment, can't escape those anywhere around here).

I'm dreading going into work tomorrow, but I reckon I can last 23 more months.

 

[teetee]

Count me in!

We will both be 45 in 2030. Our daughter will be 9 (born this April).

We are currently at:

Investable Assets (non tax advantaged/tax advantaged/HSA/cash/etc):
410k

Rental Property Equity:
243k (market value minus loan balances)

Primary Property Equity:
142k (market value minus loan balance)

Net Worth (excluding Primary)
653k

Net Worth (including Primary)
795k

Other than our properties, no debts of any kind. I am not sure on a 529 plan due to the strings attached as opposed to funding our retirements first then merely foot the bill with any extra in our funds. Thoughts?

A cool observation is we have already hit coast fire (FIRE # of 2.5mill) so that is a liberating feeling

I started a 529 account in my name in Vanguard with ~3k annual contribution since 2016 (I am single). My plan is to transfer the account to my niece to pay for education related expenses in the future. Or I can buy a house or an apartment near her college and charge her with the money as rent from 529 so she doesn't have housing cost and I get tax free on the investment return.

529 contribution is after I have all other tax advantaged account contributions (Roth IRA, Roth 401k, HSA) maxed out but $3k is not that much (the contribution amount depends on how much you wish to financially assist your kid) but I bet even with doubling that amount, it won't be enough to cover everything considering the inflation by the time she needs it.

 

[patela6]

Sign me up for 2030. I'd be 2 years late/OMY real target is 2028.

College, I put 40k for each kid before they were one into 529s. Roughly 10 years on, and that's probably the best decision I've made! Grown to low 100k each, this won't fund four years of college,, but should fund two to three hopefully!!

 

[BackHometown]

Currently net worth just past $2mm. I plan to retire probably 2025. DH plans 2035

 

[BackHometown]

Similar situation:

rising stock market just pushed asset above 2 Million.

Same enormous work stress makes me think whether it is worth to sacrifice health for a paycheck.

Also plan to buy 3-4 properties to offset income in the future.
I hope asset can reach 3 million in 5 years and that will be the time for me to retire.

Hey Everyone. Hope you are doing well. This market is screaming and has been fun to watch. Like everyone cautiously optimistic but for now enjoying the ride. Thought I would give an update on my end.

I did purchase a rental property a year ago and of course my 10k renovations ended up being 45k. I was able to write half of those off. The monthly rental income is good but learned a few valuable lessons along the way. Good thing is the value of the property went up significantly. My plan is to buy 3 or 4 properties to offset some of my income in the future.

The market has pushed my assets just above the 2 Million mark not including paid off primary & rental. Work stress is enormous and still trying to find a balance. I am 46 with a 20 month old. I figure i will need to get to 4 Million to hang it up. After 3mill I will need to really take a look at if the stress is really worth the extra comfort. Until then, grinding away, focusing on the positives and the things i can control. Please continue to post. Love to hear everyone's progress and share the journey! Have a great week!

 

[RocketGirl]

We'd love to hit 2030 - I'd been aiming for 2034 but maybe we can push that out a bit if we make some smart choices. We are happy to live frugally right now and we are aiming to have a bit more discretionary spending when we retire (maybe some travel, long summers in a 5th wheel etc...) so time will tell if we can retire then or not but I'm happy to be here with you all for the goal!

 

[old medic]

Our 2030 mile point would be DW reaching her earliest SS... she should already been retired by then by at least 2 years.

 

[cooch96]

The market has been doing great, hasn't it? I've had a couple mini-epiphanies the last month while DW was visiting family. I thought I'd check in and share.

I disliked camping in a tent because it's such a hassle to clean them out, stuff them into their tiny sack, and then air them out for the next trip. But tents are one of the things still very affordable. If you use a cheap one twice, you got your money's worth out of it. Pitch it and get a new one for the next trip.
I don't need an RV. If I don't need an RV, then I don't need a truck for towing/hauling the thing. I just saved myself $80k in ER expenses.

This increases my chances of Semi-FIRE in 2022 to about 50%. And unless there is a vicious drop in the stock market, I fully intend to semi-FIRE before Summer of '23. That's less than 20 months out. I can do that.

 

[Safire]

We'd love to hit 2030 - I'd been aiming for 2034 but maybe we can push that out a bit if we make some smart choices. We are happy to live frugally right now and we are aiming to have a bit more discretionary spending when we retire (maybe some travel, long summers in a 5th wheel etc...) so time will tell if we can retire then or not but I'm happy to be here with you all for the goal!

Same here, would love for my DH to retire in 2030, but he's been aiming for 2035. We also live very frugally but we rent in a VHCOL and we're looking to move a MCOL area - preferably in California - but most likely we'd have to move out of state to really make 2030 work.

I would love for him to be able to retire when he's still young enough to have fun and enjoy life a bit. But he is the numbers guy and claims it would be foolish to pull the plug before 2035. However, IF the market keeps blessing us as it has the past few days, we may be able to make it, after all.

We'll see.

 

[lucky2030]

We’re planning to retire in 2030, at 50/48. Oldest kid will be a HS junior, youngest will be in 8th grade. Our target # has gone up as our salaries and the market have been really soared the last few years. At the moment we have about $4.5M across our house equity, 529s, and retirement funds. We’re both enjoying our jobs and adding a significant amount of savings each year, so 2030 still seems like a good tradeoff on retirement date.

 

[hilltide]

We’re planning to retire in 2030, at 50/48. Oldest kid will be a HS junior, youngest will be in 8th grade. Our target # has gone up as our salaries and the market have been really soared the last few years. At the moment we have about $4.5M across our house equity, 529s, and retirement funds. We’re both enjoying our jobs and adding a significant amount of savings each year, so 2030 still seems like a good tradeoff on retirement date.

Killing it lucky! Nice work. Should be a comfortable retirement. On top of that, you still enjoy your job. Thanks for joining the thread. Look forward to the updates.

 

[teetee]

I am single,no kids, and my current net worth is at 1.1M with annual growth of 300k (investment return portion > income earning portion) with minimal living expense (< 6k). I don't have a set of number in mind for retirement but am hoping to get the net worth up to above 4M aside from a paid-for primary residence by 2030.

 

[livingalmostlarge]

We passed FI today but no RE in sight. I have no idea, but i am suspicious that it will still be RE in 2030. I am not sure if I can convince DH to pull the trigger. Unsure which class I belong to. I guess every class until we actually RE and are just getting fatter fire.

 

[hilltide]

We passed FI today but no RE in sight. I have no idea, but i am suspicious that it will still be RE in 2030. I am not sure if I can convince DH to pull the trigger. Unsure which class I belong to. I guess every class until we actually RE and are just getting fatter fire.

Congrats on FI! What a great accomplishment

 

[MaxFIRE]

Someone mentioned a 2030 thread. I found this one and figured I'd join in and bump it up.

2030 is my target and the year I turn 55, DW will be 48. I should certainly be RE by then, but hopefully sooner. Currently at approx. $1.6M NW, including a $300k paid for house.

How's everyone's progress going?

 

[cooch96]

Someone mentioned a 2030 thread. I found this one and figured I'd join in and bump it up.

2030 is my target and the year I turn 55, DW will be 48. I should certainly be RE by then, but hopefully sooner. Currently at approx. $1.6M NW, including a $300k paid for house.

How's everyone's progress going?

That was me! Thanks for finding it. The ER search function rarely works well for me.

DW's health has not improved much the past 2 years, she's still unable to work and those copays stack up fast, so I'm still toiling for megacorp. She finally applied for disability, which has an average 9mo review time. I'll semi-fire if she gets approved with medicare. Or I'll semi-fire when the S&P reaches 5k (assuming DW doesn't take a turn for the worse).

I've really slowed my investment contributions down, still maxing out my 401k but nothing more. I bought a motorcycle this month and the house could really use remodeling. DW is as comfortable as I can make her, so it's time to start trying to enjoy life more while I'm still middle aged and hale enough to enjoy it.

I see Amazon has a robotics course open to part time employees. Robot maintenance actually sounds fun to me and there's a warehouse nearby. I think that'd be a good retirement gig. Or maybe security; I actually enjoyed guard duty back in my soldiering days. Something to keep me busy 20+hours a week and keep some money flowing in until 2030.

 

[RetireIn2030]

We are planning for 2030 as well. Similar goal of $1.8-2 mil. Our target ages will be 54 and 52. Without early pensions the hardest thing we are finding in this process is to have enough to bridge before reaching 59 1/2. After tax (brokerage/savings) accounts are starting to be more of a focus. Love we found this form and thread since we all have the same goal! Cheers

 

[kgtest]

We are planning for 2030 as well. Similar goal of $1.8-2 mil. Our target ages will be 54 and 52. Without early pensions the hardest thing we are finding in this process is to have enough to bridge before reaching 59 1/2. After tax (brokerage/savings) accounts are starting to be more of a focus. Love we found this form and thread since we all have the same goal! Cheers

Those beudge years are the hardest part of the equation for sure. I figure 20k to 25k invested per year nto broker for about 7 or 8yrs before we retire will be enough to bridge us.

The other thing is the x factor which is staying in good health. I think to have the retirement we vision we will want to be in good health with about 400k in taxable.

 

[tulak]

We are planning for 2030 as well. Similar goal of $1.8-2 mil. Our target ages will be 54 and 52. Without early pensions the hardest thing we are finding in this process is to have enough to bridge before reaching 59 1/2. After tax (brokerage/savings) accounts are starting to be more of a focus. Love we found this form and thread since we all have the same goal! Cheers

Not sure if it’s an option for you, but some places allow access to your 401k in the year you turn 55. That’s my plan to bridge the gap to full access of retirement accounts at 59.5.

 

[RetireIn2030]

Not sure if it’s an option for you, but some places allow access to your 401k in the year you turn 55. That’s my plan to bridge the gap to full access of retirement accounts at 59.5.

I reviewed my plans summary and did not see anything relating to the rule of 55 within it. Since we are 7 years away from that, a lot could happen where I have a different 401k from a different employer and that could work great if I worked just an extra 6 months to have that option. I’m planning the worse case now to build enough in taxable to pull it off.

 

[cooch96]

Happy 2024, Cohort.

I'm getting excited to semi-FIRE this year in preparation to be done by 2030. I built an annual budget yesterday. Next step is to buy a personal phone and start transferring contacts over (in case I get shown the door when I talk to MegaCorps). My plan is to tender my resignation at the end of June (a couple weeks after annual bonuses are handed out). That way, I won't need to supplement 2024 income with any selling.

But if I check my accounts next month and see they've jumped $100k, it'll be hard to stick around that long. I'm so emotionally ready to take a few months off and then start my sunset career.