Race to 2031 - please join :)

[lionfire]

Inspired by the "Race to 2024" thread

Will be 56 by 2031. Primary home should be paid off. Our retirement home should be ready and ideally we will be in it. Goal retirement funds is around 3M retirement funds, and 10k per mo spending.

As 2022 starts up, I find myself losing patience as i am entering the "single digit years" to retirement (9 years to go) and have to remind myself of Robert Frost's "... miles to go [before I sleep]" and tell myself to be patient and calm.

Anyone else retiring in 2031? Please join in, and lets keep each company in this journey

 

[B0bL0blaw]

I'm aiming for 2030, but could easily be 2031 (or later...), so I'll happily join in the "race".

We're aiming for similar numbers as you, though likely carrying a mortgage into retirement. What's your plan for age 56 through 60 (when you can access retirement accounts)? Relying on non-retirement accounts, 72(t) distributions, Roth IRA Conversion ladder, some combination of the above?

Cheers to a fellow traveler on the journey. (Seeing your Frost, and raising you some Tolkien):

The Road goes ever on and on
Down from the door where it began.
Now far ahead the Road has gone,
And I must follow, if I can,
Pursuing it with eager feet,
Until it joins some larger way
Where many paths and errands meet.
And whither then? I cannot say.

 

[BadgerNCarolina]

I'm aiming for '29 at 59.5, but perhaps I'll set 2031 as the goal and be pleasantly surprised by an earlier date. I have a goal of $4M, currently much lower at $1.5M. Mortgage should be paid off by retirement, but still expect more like $15k/month expenses in retirement.

Is there anything else you'd like to share at this point? Specifics? Or just more like a moral support area? Either is good for me.

 

[turbo89]

Count me in! 2031 may be a bit lofty, but I like aggressive goals. I should be in my early 40’s by then.

 

[ATXFIRE2034]

I’ll join 2031, I need to update my handle anyway. Things have improved with our situation so this seems doable.

 

[turbo89]

I’ll join 2031, I need to update my handle anyway. Things have improved with our situation so this seems doable.

That’s a good idea, how does one do that?

 

[lionfire]

I'm aiming for 2030, but could easily be 2031 (or later...), so I'll happily join in the "race".

We're aiming for similar numbers as you, though likely carrying a mortgage into retirement. What's your plan for age 56 through 60 (when you can access retirement accounts)? Relying on non-retirement accounts, 72(t) distributions, Roth IRA Conversion ladder, some combination of the above?

Cheers to a fellow traveler on the journey.

Cheers! Between 56 and 60 planning to utilize some "pension"-like distributions from vesting stocks from the employer. I am also hoping to keep 2-3 years of expenses as cash in order to reduce sequence of returns risk (SORR). Medical will be paid out of pocket (estimating $2k for me and wife).

(Seeing your Frost, and raising you some Tolkien):

The Road goes ever on and on
Down from the door where it began.
Now far ahead the Road has gone,
And I must follow, if I can,
Pursuing it with eager feet,
Until it joins some larger way
Where many paths and errands meet.
And whither then? I cannot say.

Touche!

 

[lionfire]

I'm aiming for '29 at 59.5, but perhaps I'll set 2031 as the goal and be pleasantly surprised by an earlier date. I have a goal of $4M, currently much lower at $1.5M. Mortgage should be paid off by retirement, but still expect more like $15k/month expenses in retirement.

Is there anything else you'd like to share at this point? Specifics? Or just more like a moral support area? Either is good for me.

Journey is interesting and fun with company, so, welcome friend!

My hope is the market will shake itself to reality in 2022/23 and resume its 7-8% per annum growth over the rest of the years until 2031 helping me (us) stay on track. Hoping to maximize investments into the market (VTSAX, etc.) fr at least the next 5 years to boost this. I think I can coastfire at this point (i.e. no further contributions into retirement accts, but dont want to do that - and firecalc agrees with me for a 40 yr retired period for 100% success rate, so I think I'll just keep my head down and contribute the max possible).

 

[lionfire]

I’ll join 2031, I need to update my handle anyway. Things have improved with our situation so this seems doable.

Thats great to hear! I know that the Jan 2022 stock market performance has reset many folks' retirement goals (for sure, I am likely 1yr behind lol). We seem to be entering a correction phase, and given inflation is highest its been in several decades, so I am very curious you said "things have improved with our situation" - appreciate if you could share more

 

[ATXFIRE2034]

Thats great to hear! I know that the Jan 2022 stock market performance has reset many folks' retirement goals (for sure, I am likely 1yr behind lol). We seem to be entering a correction phase, and given inflation is highest its been in several decades, so I am very curious you said "things have improved with our situation" - appreciate if you could share more

Even with the recent market conditions, we’re still up 113% since the March 2020 pandemic lows.

 

[F.I.R.E User]

I’ll be 53 in 2031.

 

[ATXFIRE2034]

I will turn 50 in 2031.

 

[RxMan]

I’m still trying to figure out my retirement timetable. I could see myself retiring as early as say 2026-2027 but I certainly could be working until 2031. I turn 48 in a couple of months so in 2031 I will be turning 57 years old.

I guess it depends on how well the markets do over the next few years. I really like the idea of retiring in 2027 but we may not have quite enough savings to be safe financially for a 2027 exit.

I’ve also thought about investigating my options to downshift my hours after say 4 more years of full time employment. This may allow me to better prepare for retirement. I may be ok working longer if it means I have fewer hours per week. We’ll see.