2030 Fire Thread- Who's in?

[RxMan]

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 I’d 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. I’ll definitely follow along and wish all of you 2030 people good luck. Who knows, maybe I’ll join you.

 

[hilltide]

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!

 

[Fireby2030]

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.

 

[hilltide]

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.

 

[redduck]

I think 2030 sounds just about right. I should be running out of Post-Its just about then.

 

[kgtest]

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.

 

[Fireby2030]

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.

 

[mrWinter]

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.

 

[hilltide]

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.

 

[scottmn4]

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.

 

[hilltide]

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.

Nice Job Scottmn4! You're killing it! Keep us posted on the progress. Welcome to the thread.

 

[hilltide]

What's up everyone! Just wanted to check in on the 2030's. Been a wild ride this year so far! Don't ask me for advice, I got nothing, lol. Very hard to do but I am staying the course. I have been tempted to reduce my exposure now that we have reached a better place. However, can't find it in my heart to do it yet. Still at 70/30


During this craziness I have been focused on keeping all of our team employed and weathering the storm. It hasn't been easy but so far, so good. As they say, this too shall pass. Hopefully sooner than later. That's all for me. Say hello friends!

 

[TDub]

What's up everyone! Just wanted to check in on the 2030's. Been a wild ride this year so far! Don't ask me for advice, I got nothing, lol. Very hard to do but I am staying the course. I have been tempted to reduce my exposure now that we have reached a better place. However, can't find it in my heart to do it yet. Still at 70/30

Hey, hilltide! Right there with you. Just trying to stay the course!

 

[lucky2030]

With a bit of luck, 2030 will be our year, just as I turn 50.

 

[AreWeThereYet0]

So I am hoping to RE in 2028 at 50 with minimum of 2M in investments and cash. right now I have about 1.38M. House is worth about 230K and I owe 85K still. It will be paid off by the time I am 50. I am counting on using my SO’s HI until Medicare as he is much younger. I know that I still need to budget a decent amount for it.

 

[pj.mask]

Finally a goal that is reasonable for me. Original target was 2032 @ 45 so 2030 is close enough.

Agree with the lots of uncertainty over the last couple years. Hopefully things will quiet down soon but I have my doubts after all the debts that have been issued. But plodding along, just ~10 years to go.

 

[Cassius King]

I'll join 2030 group. 2029 or earlier is possible, but 2030 is the have to be done by date. House will be paid off and it will be prior to my 55th birthday. Seems like a good time to start my FIRE.
Cheers!

 

[hilltide]

So I am hoping to RE in 2028 at 50 with minimum of 2M in investments and cash. right now I have about 1.38M. House is worth about 230K and I owe 85K still. It will be paid off by the time I am 50. I am counting on using my SO’s HI until Medicare as he is much younger. I know that I still need to budget a decent amount for it.

Awesome Work Are we There yet! Yeah, agreed the Health Insurance component is always on my mind.

 

[hilltide]

I'll join 2030 group. 2029 or earlier is possible, but 2030 is the have to be done by date. House will be paid off and it will be prior to my 55th birthday. Seems like a good time to start my FIRE.
Cheers!

Welcome Cassius! Looks like we are right around the same age. Agreed 2030 is drop dead date!

 

[hilltide]

Figured i would add one more post today on a move i just made. Decided to take some money out of the market and buy a rental property in my neighborhood. Needs about 10k to get rental ready but think i can get about $2000 Net rent out of 300k investment.

Also serves as a backup in case i need to move aging parent closer but not in my house. First property I have ever purchased cash. Wanted to diversify and start replacing my monthly outgo. We will see what happens!

 

[TDub]

Figured i would add one more post today on a move i just made. Decided to take some money out of the market and buy a rental property in my neighborhood. Needs about 10k to get rental ready but think i can get about $2000 Net rent out of 300k investment.

Also serves as a backup in case i need to move aging parent closer but not in my house. First property I have ever purchased cash. Wanted to diversify and start replacing my monthly outgo. We will see what happens!

That’s exciting! Buying property with. Ash is no small thing—congrats.
Here’s hoping it works out well for you. I’m sure it will.

 

[SMiller]

Still hoping to retire right when I hit 59.5 in 2028. Although the stock market has been a bit crazy this year, my portfolio has done well. I'm sitting at $1.25M in retirement accounts (up about $300,000 for the year), $110,000 remaining mortgage on a home valued about $320,000 (mortgage should be paid off right at retirement), $150,000 equity in a business I'm a partner in, about $45,000 in cash and enough in 529's to most likely get my three kids through college. Trying to add more to my Roth (which I just started) to try to get some flexibility as I approach retirement. I feel the magic number is around $2.3 to $2.5M and I'm at approx. $1.5M right now with all assets.

 

[cooch96]

Just checking in.
I've been holding pat on my investments, only buying enough to max out my 401k. The rest is going into cash. I plan on not buying more stocks unless the S&P drops below 2500 or I find myself sitting on $90k or more in accounts making negligible interest.

Good news, DW is starting her first week at a new PT gig. She's only worked 2.5 months in the past 18, so it'll be nice for her to contribute to her own car payments again.

My goal is to work two more years at MegaCorps before semi-FIRE. But that depends on a lot of variables; I wouldn't be shocked if I stayed there until the grisly end (Dec. 2029).

 

[pj.mask]

I happens to update this/last months investments at the peak and I think we’re down about 6% since then based on the S&P index.

I think we have had a good expansion run for a number of years. I think volatility will return but with my calculated returns (6% real) I hope to meet the 10 year deadline.

My back up plan is change nothing and hope my spouse keeps working

 

[cooch96]

I just added up all my accounts and my investable net worth came to $999k. I figure that's as interesting an amount as the double-comma club. Next payday is Friday, so maybe I'll make it this week!