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Old 01-23-2019, 04:03 PM   #41
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I'm aiming for 2027 when I will be 62. I currently will have a $1000 a month pension, roughly $2000 in SS, and 250K in my 401K. I am using this year to get back out of debt, and then will jump my 401K withdraw from current 14% to 25%. I'm hoping to triple that amount in the next 8 years, but will be just fine if I only double it. We live pretty frugal right now, and drive older used cars, the farm is paid off, and really only have a $24,000 equity loan on a new camper, and diesel Excursion.

This year is all about downsizing our fleet of older vehicles, selling a few pcs of farm equipment, and not buy all the big $$ stuff that we did last year. My son will be graduating from UNOH as a diesel tech, and my daughter will be getting married (we've already incurred most of the costs with that). We are hoping to see some light at the end of the tunnel, and NOT have it be a train.

2030 I will be 65 YO, and really hope i'm not still working !
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Old 01-23-2019, 04:10 PM   #42
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Itís fun to see a thread with our kind of timeline! Shooting for 2028 but may end up being Ď30 for DW. Letís see what happens!
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Old 02-05-2019, 12:26 PM   #43
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Originally Posted by Ready2Save View Post
Greetings to all those jumping in on the 2030 party and really appreciate hilltide for kicking this off! Question for the group - for those with little ones, what is your approach for college savings? My wife & I both had to pay 100% of our way and not going to lie - it sucked and it was hard and that was 25+ years ago when college was a heck of a lot cheaper. Anyway, we do not want our little one to have to go through that, but trying to strike a balance on how much to save? where to save - right now, everything is in a 529 plan and our initial goal was to plow enough for 4 years of instate public U. It is tough to project where a young elementary kid is going to end up...ha.ha. So, what are you guys doing?
We are making our kids pay, encouraging good grades so they are considered for scholarships. My wife and I paid for schooling, and I think it made us appreciate the education a bit more. I could be wrong, of course. Also, we are encouraging community colleges for the first two years and possibly the military (GI Bill). Also, some kids have no interest in college. My wife and I have talked about paying for books and maybe some dorm costs, but tuition is up to the kid!

Lastly, we have set a goal to be FIRE by age 51. The college funds aren't allowed to conflict with this goal. Cold hearted? Maybe.
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Old 02-05-2019, 05:29 PM   #44
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Originally Posted by Ready2Save View Post
Greetings to all those jumping in on the 2030 party and really appreciate hilltide for kicking this off! Question for the group - for those with little ones, what is your approach for college savings? My wife & I both had to pay 100% of our way and not going to lie - it sucked and it was hard and that was 25+ years ago when college was a heck of a lot cheaper. Anyway, we do not want our little one to have to go through that, but trying to strike a balance on how much to save? where to save - right now, everything is in a 529 plan and our initial goal was to plow enough for 4 years of instate public U. It is tough to project where a young elementary kid is going to end up...ha.ha. So, what are you guys doing?


Transferring our GI Bills to the kiddos. If their undergrad costs exceed whatís covered by the GIB then theyíre on the hook. My college was paid for but I still applied myself so I know not every kid will be a slacker if itís covered. DW has zero help with her undergrad costs and she was stressed the whole time. Would like to strike a happy balance if possible.
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Old 02-25-2019, 11:42 AM   #45
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Pencil me in for 2030 (if not sooner!!)
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Old 02-25-2019, 12:47 PM   #46
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I'll hop on this thread as well. This was my original goal, retire by age 55. Looking to take the plunge earlier. Also joined the 2024 thread... Hoping that 2024 works, but that is certainly pushing it.
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Old 04-11-2019, 04:11 PM   #47
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I'll join in here as well! Although not early, I'm hoping to retire right when I hit 59.5 in 2030. Didn't really get serious about finances until a job scare last year, but have always contributed to my retirement accounts and they've done pretty well. My wife has been a stay at home mom, so we've lived on one income for a couple decades. We have three kids, two currently in college. Working towards making 2030 happen while trying to allow for living some life now since you never know what's around the corner. Looking forward to watching everyone's progress!
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Old 04-12-2019, 12:55 PM   #48
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Iíll join the class of 2030! Hereís a recent post /update from my thread.

April 2019 update

Here's our current financial status

April 2015: Tax deferred accounts: $210K
May 2017: Tax deferred accounts: $351K
Dec 2017: Tax deferred accounts: $411K
Apr 2019: Tax differed accounts: $490K

April 2015: Taxable accounts: $20K
May 2017: Taxable accounts: $28K (ned to do a better job pumping in more into brokerage account)
Dec 2017: Taxable accounts: $30K
Apr 2019: 55K

April 2015: Property (overseas): $120K
May 2017: Property (overseas): $150K (picked up another property)
Dec 2017: Property (overseas): $150K
Apr 2019: liquidated one property and used money towards partial down payment. Value of remaining properties is still at 150K
Note: Above properties do not generate income and I'm counting on land value being appreciated in a developing country.
Apr 2019: Might be selling one in the coming year or two - DONE!

April 2015, May 2017, Dec 2017, Apr 2019: Emergency Fund to cover 1 year of expenses.

May 2017, Dec 2017: Cash - 60K (Planning on purchasing a single family home while keeping our current coach home for renting out)
Apr 2019: purchased single family home in 2018. $120K down payment.
Rented our coach home as originally planned.

May 2017:No loans except for mortgage (~130K).
Dec 2017: No loans except for mortgage (~123K).
Apr 2019: single family home (bought in 2018) outstanding mortgage $448,000
Rental property (coach home) outstanding mortgage $109,000
Current coach home approx value: ~ 200K.

Other updates:
I was between jobs from Jan - May 2018 ( was unwilling to take a different role at megacorp which would require me to work in an area that I am not passionate about and would have been miserable). Job market was good and I had a couple of offers to chose from. Though There was a 4-month gap, I am glad I waited and accepted the right offer. I am very happy at my current megacorp.
Wifeís career is taking off and we are doing good income wise.
Property Taxes for our new property are super high. $18,500 annually but we knew what are getting into. Hope it doesnít turn out to be a foolish mistake in the long run.
Current home value : 620K
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Old 06-21-2019, 05:04 PM   #49
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Just hit a major milestone with the rising market yesterday! I'm going to take some time off this Autumn and I plan on getting a part time gig (semi-FIRE) in the next few years. Full FIRE by 2030 is looking very possible, assuming I live that long of course.
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Old 06-21-2019, 09:35 PM   #50
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Iíll join...2030 sounds like a good round number.

I saw some folks are about 25-30% from their target NW. With 2030 being only 11 years away other than going aggressive and maxing our your 401k and Roth IRA what else do others plan to do to bridge the gap from 25-30% to 100% in 11 years. Curious to learn from others here. Thanks.
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Old 06-21-2019, 10:24 PM   #51
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I definitely could end up working until 2030. Who knows at this point? Originally I was applying for membership to the Class of 2024. I would be 50 years old in that class. That seems unrealistic based on the comfortable nest egg Iíd like to have before retirement.

Now I think for me a more reasonable goal is retiring in 2026-2027. But plans change and life happens. Iíll definitely follow along and wish all of you 2030 people good luck. Who knows, maybe Iíll join you.
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Old 06-24-2019, 09:46 AM   #52
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Originally Posted by cooch96 View Post
Just hit a major milestone with the rising market yesterday! I'm going to take some time off this Autumn and I plan on getting a part time gig (semi-FIRE) in the next few years. Full FIRE by 2030 is looking very possible, assuming I live that long of course.
Nice work Cooch. Congrats! Semi-Fire sounds great right now!
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Old 06-24-2019, 07:37 PM   #53
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Obviously I am in by my handle name. Currently 39, 3 kids and currently about to embark on a 3 year journey of getting rid of our debt. We have 1m invested in stocks through taxable, roth and 401k. About 760k worth of debt from mortgage and student loans. Maybe earlier if I can convince my wife.
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Old 06-25-2019, 07:18 AM   #54
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Obviously I am in by my handle name. Currently 39, 3 kids and currently about to embark on a 3 year journey of getting rid of our debt. We have 1m invested in stocks through taxable, roth and 401k. About 760k worth of debt from mortgage and student loans. Maybe earlier if I can convince my wife.
Nice work on the investments Fireby! Great Accomplishment! Yeah, I am 44 now. started paying off my debt at your exact age. Feels great! Now just trying to get the investments up. This first Mill is really hard to crack, lol.
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Old 06-25-2019, 08:24 AM   #55
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I think 2030 sounds just about right. I should be running out of Post-Its just about then.
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Old 06-25-2019, 08:48 AM   #56
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Obviously I am in by my handle name. Currently 39, 3 kids and currently about to embark on a 3 year journey of getting rid of our debt. We have 1m invested in stocks through taxable, roth and 401k. About 760k worth of debt from mortgage and student loans. Maybe earlier if I can convince my wife.
Beans, rice and ramen. That can save you a LOT of money. Cancel all subscriptions, pay as go phone is 1 phone shared. Walk, don't drive...bunch errands up and buy bulk. NEVER pay retail. I don't envy the debt payoff, we habve about 1/2 as much to go as you...but also about 1/2 as much invested.
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FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
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Old 06-25-2019, 08:54 PM   #57
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My wife would never live that way and I understand, we make a healthy living and already have a LBYM lifestyle. of the 760k debt, 230k is from medical school and the other 530k is on our house, which was a gift to my wife as it is her dream home. Property taxes are cheap in the midwest. Also we just got the house appraised for our refinance to a 15 year fixed just incase we change our mind and switch back to investing more rather then pay off the house. I assume the appraisal will come back a little up from what we paid for it.

We don't eat out much and while we drive new cars everything else in our life is pretty frugal. With that being said we have committed to each other to live as frugal as we can while I try to work as much as I can to pay off our debt in 2 years!

I applaud at people that live like MMM, but its not something that I would choose to do.
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Old 06-26-2019, 06:40 AM   #58
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Originally Posted by Ready2Save View Post
Greetings to all those jumping in on the 2030 party and really appreciate hilltide for kicking this off! Question for the group - for those with little ones, what is your approach for college savings? My wife & I both had to pay 100% of our way and not going to lie - it sucked and it was hard and that was 25+ years ago when college was a heck of a lot cheaper. Anyway, we do not want our little one to have to go through that, but trying to strike a balance on how much to save? where to save - right now, everything is in a 529 plan and our initial goal was to plow enough for 4 years of instate public U. It is tough to project where a young elementary kid is going to end up...ha.ha. So, what are you guys doing?

I've got twin 2.5 yr olds, and currently am not putting anything into college savings, as daycare costs 35k/yr. Once they are out of daycare and in public school I'll start putting some of the daycare money saved into a 529 for them (with most of the remainder of savings I expect going to before and after care and summer camps etc.). I've used a few calculators and am shooting to save enough to pay fully for out of state public. I figure that's a good middle ground, between in-state, private, or potential grad school needs. The market could do lots of things between now and then, and so could education costs so I figure the best I can do is kinda aim for the middle this far out.
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Old 06-26-2019, 03:26 PM   #59
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My wife would never live that way and I understand, we make a healthy living and already have a LBYM lifestyle. of the 760k debt, 230k is from medical school and the other 530k is on our house, which was a gift to my wife as it is her dream home. Property taxes are cheap in the midwest. Also we just got the house appraised for our refinance to a 15 year fixed just incase we change our mind and switch back to investing more rather then pay off the house. I assume the appraisal will come back a little up from what we paid for it.

We don't eat out much and while we drive new cars everything else in our life is pretty frugal. With that being said we have committed to each other to live as frugal as we can while I try to work as much as I can to pay off our debt in 2 years!

I applaud at people that live like MMM, but its not something that I would choose to do.
I read a lot about MMM. Was a bit too much for me as well. My wife is frugal, I am the spender so she had to reign me in. What we did do was create a budget which a first for me at the time. The first several months there may have been a few disagreements Looking back, if it wasn't for the budget, the debt would not have been paid off.

As I get older and more anxious to FI, I think to myself maybe I should be more like MMM. That thought quickly fades when I buy something else for my boat, lol. I think with our budget we have a good balance now. We both know our limits every month. Good luck! Keep on posting your progress! Going to update mine at the end of the year.
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Old 07-01-2019, 02:57 PM   #60
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I will join the 2030 Party! I am 46 and my DW is 47 and we have 2 kids (19, just finished her first year of college and 10, going into 4th grade). 2030 should be good for FI and I may be able to RE depending on my youngest daughter's "launch"). NW is about $1.4M right now with just short of $1M in retirement accounts (the rest in home value and education accounts for my daughters). We have less than $100K left on the mortgage and will definitely have that paid off before 2030. My goal is to get over $2M in retirement accounts and over $2.5M net worth by 2030.
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