Huston55
Thinks s/he gets paid by the post
Ya mon! O0
Share your FIRE Milestones - 2013- 2020
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Ya mon! O0
Huston55
Thinks s/he gets paid by the post
First of all...Thank you for your Service!
I see from your posting history that you've already met Nords and read his book; good on ya, lots of good advice there. I'm also an AF Reservist (Retired, Grey Zone) and anxious to turn 60...did I just say that? It's a nice little warm fuzzy blanky to know I'm eligible for a Reserve retirement. I wish you luck brother.
Hexanova
Dryer sheet aficionado
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It's been a good 6 months for us. Sold one of my websites for $57K. House refinanced at 3.25%, will be paid off in 5 years. All debt gone. Total assets are up about $200K and we are bumping up against $1.5 million in assest (which is ahead of my schedule).
On track to retire at 53 or 54.
Not bad for a kid who grew up without a pot to piss in, from a broken home, living in tiny trailer with 2 siblings, raised by a working mom who could only afford McDonalds once a week as treat to eat out. My childhood taught me a lot: to not repeat it!!
On track to retire at 53 or 54.
Not bad for a kid who grew up without a pot to piss in, from a broken home, living in tiny trailer with 2 siblings, raised by a working mom who could only afford McDonalds once a week as treat to eat out. My childhood taught me a lot: to not repeat it!!
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The milestones for me occured much earlier than I had estimated, although we're lucky that both of us were able to work and both kids pulled down big jobs after college.
I doubled from 1999 to 2004, and 2008, and early 2013.
We paid off the house this month by using cash that was receiving .02% interest.
We reached the retirement/taxable balance last year that I had calculated we needed to retire, but I was calculating based on SS and 66, so we hit it 10 years earlier than I had estimated. Barring a big crash, we can do it in 2 years, and semi-retiring and DW working, we could do it now.
I now plan to semi-retire summer after next (I can work halftime for 40% of current salary, on a yearly renewable basis), DW about five years later.
I see a lot of younger folks posting--stick to your plan, save every paycheck, avoid excessive debt. It happens a lot quicker than you can believe. Staying in one house for 23 years helped us a lot in building net worth.
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Today's quarterly update shows we passed the paid-off-house plus 40x expected expenses threshold. Can I get DW to agree to join the Class of 2014? She doesn't really want to think about it...she just wants to keep beavering away. :/
That's awesome Hexanova! Keep it rolling! Curious on the website you sold, was it a domain name or an actual website?
It's been a good 6 months for us. Sold one of my websites for $57K. House refinanced at 3.25%, will be paid off in 5 years. All debt gone. Total assets are up about $200K and we are bumping up against $1.5 million in assest (which is ahead of my schedule).
On track to retire at 53 or 54.
Not bad for a kid who grew up without a pot to piss in, from a broken home, living in tiny trailer with 2 siblings, raised by a working mom who could only afford McDonalds once a week as treat to eat out. My childhood taught me a lot: to not repeat it!!
You rock! Good for you!!
cinman2000
Recycles dryer sheets
Net worth at an all time high of 2.3 mil. I think 2.5 is the magic number. 15 months or less to go!
Finally "made" 10K+ in the market in a day (12k as it turns out).
Not much of a milestone since its just a response to the political theater, and its not like my accounts are at all time highs (though not far). Still, neat to see on the google spreadsheet.
Not much of a milestone since its just a response to the political theater, and its not like my accounts are at all time highs (though not far). Still, neat to see on the google spreadsheet.
RetiredAndFree
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Passed the 4.5 mill mark recently, up some 600K from when we retired two years ago at 49 and 55. That does not include the value of our home, because we have no plans to downsize currently, nor to take out a reverse mortgage. If we include the equity in our home, we're at 5.2 mill.
We're living on a withdrawal rate of about 2.75% currently, which should help our portfolio continue to grow robustly. We'll edge that withdrawal rate upward when the first one of us reaches SS and Medicare age, then again when the second one does.
We're living on a withdrawal rate of about 2.75% currently, which should help our portfolio continue to grow robustly. We'll edge that withdrawal rate upward when the first one of us reaches SS and Medicare age, then again when the second one does.
This month our retirement investment portfolio 401k+Roth reaches over $200k for the first time! Including the house's equity, the net worth is $320k.
I'm 34 and my wife is 32 (SAHM). I still need another 15 years to reach FI. The industry that I work is very cyclic so I don't know when is the next downturn (already experience 3 times in my working career). I hope the good time continues rolling. Anyway, this community keeps me motivated and focus on my ultimate FIRE goal.
I'm 34 and my wife is 32 (SAHM). I still need another 15 years to reach FI. The industry that I work is very cyclic so I don't know when is the next downturn (already experience 3 times in my working career). I hope the good time continues rolling. Anyway, this community keeps me motivated and focus on my ultimate FIRE goal.
bltkmt
Recycles dryer sheets
Congrats on your milestone - I would like to be at your level some day!
One question about the quote above - why would you increase the w/d rate upon reaching SS age? Wouldn't that be a time to decrease it, as you will be collecting SS?
RetiredAndFree
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I understand what you're asking, but at some point we need to feel free to enjoy what we've accumulated, which is why we'd edge it upward upon reaching age 65, even with the addition of SS and Medicare. Technically, at a current 2.75% withdrawal rate, we're under-withdrawing per every portfolio longevity formula I've run, but we're not comfortably enough with what lies ahead, financially and politically speaking, to increase it for the time being.
Ironically, this is exactly how we achieved FIRE - we lived substantially below our means for a long, long time, and then reaped the rewards.
bltkmt
Recycles dryer sheets
Got it...thanks for the clarity.
Crossed the $1.5 million in savings for the first time ever yesterday (not including our house which we will sell when we retire in 15 months). We are very proud of ourselves. Not too many cops make enough money or have the will power to save anywhere near that kind of money.
jollystomper
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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My 401K crossed $900K for the first time after market close yesterday. The government shenanigans were good to me financially. 
I'm not expecting to stay at this level, but it feels good just reaching it, if only for a day.
I'm not expecting to stay at this level, but it feels good just reaching it, if only for a day.
Wow, you got that right. Even with COLA'd pensions I know a bunch of retirees from LE who are struggling to stay afloat and still working because they have to, not because they want to. Most of those will have to work until they're physically unable to.
I knew there was a reason I disliked loans and and loathed credit cards. Zero Debt is a good place to be, for me anyway.
Andre1969
Thinks s/he gets paid by the post
I would have most likely crossed the $900,000 threshold yesterday. However, I've been cashing out, a bit at a time, and using it to pay down my HELOC.
Last nite's balance was around $849,100, and I've paid about $50,000 extra on the HELOC this year. I'm almost regretting paying it down, because the bragging rights would have been nice...plus that much closer to $1M. But, I guess that once interest rates finally start rising, I'll be glad I made the choice that I did.
Last nite's balance was around $849,100, and I've paid about $50,000 extra on the HELOC this year. I'm almost regretting paying it down, because the bragging rights would have been nice...plus that much closer to $1M. But, I guess that once interest rates finally start rising, I'll be glad I made the choice that I did.
NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Eh, no cheatin'.
One must count net worth, not just portfolio value.
One must count net worth, not just portfolio value.
Andre1969
Thinks s/he gets paid by the post
Oh, cool...well if I throw in equity in the house, plus a few other things I forgot, I come up with $925K. So, woo-hoo, $900K threshold broken!
I don't know if this makes sense or not, but for some reason there are a few accounts I mentally separate out. When I think of "portfolio", I include 401ks, IRAs, after-tax accounts with mutual fund companies, Scottrade, etc. But mentally, I've always kept my checking account, savings bonds, and a money market account with Emigrant Direct separate.
And, I try to keep the home out of the equation, as well, even though there is equity there that could be raided. And when it comes time to sell, there would be some profit (provided I haven't raided the equity!)
I don't know if this makes sense or not, but for some reason there are a few accounts I mentally separate out. When I think of "portfolio", I include 401ks, IRAs, after-tax accounts with mutual fund companies, Scottrade, etc. But mentally, I've always kept my checking account, savings bonds, and a money market account with Emigrant Direct separate.
And, I try to keep the home out of the equation, as well, even though there is equity there that could be raided. And when it comes time to sell, there would be some profit (provided I haven't raided the equity!)
NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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OK, here's my dubious milestone.
My recent illness has kept me at home, if not in bed. Hence, I have not been out spending money on frivolous stuff like travel, or dining, etc...
Thanks to Quicken, I could easily see that my expenses for the last 30 days, if extrapolated to a full year, would run a 2%WR annually. Wow!
And if I extended out to 60 days to capture some non-monthly bills, such as the semi-annual vehicle insurance bill, then it would be 2.16% WR annually.
Darn, being sick is cheap livin', particularly when one has already exceeded the $10K insurance deductible, which came out of an HSA account kept off Quicken and would not be counted anyway.
Just want to share a cost saving tip...
OK, with positive equity in the house, you are now talkin'...
My recent illness has kept me at home, if not in bed. Hence, I have not been out spending money on frivolous stuff like travel, or dining, etc...
Thanks to Quicken, I could easily see that my expenses for the last 30 days, if extrapolated to a full year, would run a 2%WR annually. Wow!
And if I extended out to 60 days to capture some non-monthly bills, such as the semi-annual vehicle insurance bill, then it would be 2.16% WR annually.
Darn, being sick is cheap livin', particularly when one has already exceeded the $10K insurance deductible, which came out of an HSA account kept off Quicken and would not be counted anyway.
Just want to share a cost saving tip...
OK, with positive equity in the house, you are now talkin'...
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RetiredAndFree
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Here's a similar comparison, for when you, hopefully, are fully recovered.
We have found that building our retirement lives around low cost physical activities like hiking and biking, have had a very positive impact on our spending habits. When we come in from a multi hour hike or bike ride, we are generally too satisfied and tired to have any interest in going out for the remainder of the day. Often are the times we've cancelled plans to go out to eat, or to the movies, because we're just too darn content at home.
It wasn't a deliberate strategy going into retirement - we've long enjoyed being physically active - but it has definitely had an unexpected and positive net impact on our overall spend tendencies.
NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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As people who have been on this forum a while already know (or should know), I am fairly frugal.
And I am scroogey too, and enjoy seeing my portfolio grow and grow, which it has a fighting chance to, given the current 2.1% WR, which would drop even lower if I keep this up until SS drawing age. But I do not plan to remain sick.
As frugal and scroogey as I am, I already set my expense at 3.5% WR, which allows us to get to different interesting places to do the walking and hiking that keep us lean and mean.
Most foreign cities are so small, we almost can crisscross them on foot for sightseeing, and we usually do. We would drop into a place, not just museums or cathedrals, but even a plain grocery store to see what food they eat, what the local drink. Our activities during travel are usually low cost. Getting there is what costs money.
And even domestic travel takes some money, particularly gas money for the motorhome, although National Park annual permits are cheap. Again, hiking trails there is free, but getting there to camp takes many gallons of gas.
About eating out, I might have given the wrong impression that we eat out all the time. No, we do not, and I never even bother to budget for that. But when I am not well, I recall the times that we spent at my favorite local French bistro with family or friends, lingering for a couple of hours for a nice dinner. What a good time and money well spent!
Quicken told me that I was spending around 3.6% WR prior, and that even included 0.5% for donation and gift. So, I only spent 1% for discretionary pleasures. And that's money well spent, if I am well enough to spend it.
Hence, I called my current temporary low expense a dubious achievement.
And I am scroogey too, and enjoy seeing my portfolio grow and grow, which it has a fighting chance to, given the current 2.1% WR, which would drop even lower if I keep this up until SS drawing age. But I do not plan to remain sick.
As frugal and scroogey as I am, I already set my expense at 3.5% WR, which allows us to get to different interesting places to do the walking and hiking that keep us lean and mean.
Most foreign cities are so small, we almost can crisscross them on foot for sightseeing, and we usually do. We would drop into a place, not just museums or cathedrals, but even a plain grocery store to see what food they eat, what the local drink. Our activities during travel are usually low cost. Getting there is what costs money.
And even domestic travel takes some money, particularly gas money for the motorhome, although National Park annual permits are cheap. Again, hiking trails there is free, but getting there to camp takes many gallons of gas.
About eating out, I might have given the wrong impression that we eat out all the time. No, we do not, and I never even bother to budget for that. But when I am not well, I recall the times that we spent at my favorite local French bistro with family or friends, lingering for a couple of hours for a nice dinner. What a good time and money well spent!
Quicken told me that I was spending around 3.6% WR prior, and that even included 0.5% for donation and gift. So, I only spent 1% for discretionary pleasures. And that's money well spent, if I am well enough to spend it.
Hence, I called my current temporary low expense a dubious achievement.
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RetiredAndFree
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What has actually surprised us has more to do with when we are at home then when we are traveling. Not previously having had the luxury to hike and bike for several hours a day while working, I'm very pleased with the impact doing so much of it in retirement has had on our at home spending habits. Not to mention our mental health. In my experience, very few people seemed to have made that connection in their day to day lives.
We would likewise consider monies allocated, but not spent, on travel to be more problematic than frugal, in that travel is meant to be a primary focus of our early retirement lifestyle.
I have more of a love hate relationship with dining out. Love the experience, hate the inevitable weight gain if I indulge to often.
We would likewise consider monies allocated, but not spent, on travel to be more problematic than frugal, in that travel is meant to be a primary focus of our early retirement lifestyle.
I have more of a love hate relationship with dining out. Love the experience, hate the inevitable weight gain if I indulge to often.
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