4 years to FIRE

[Rich_by_the_Bay]

I could certainly do this. I do wonder, though, does this still hold if I have a rollover IRA that I won't touch until 60/65? During semi-retirement, I would take out my SWR based only on my taxable account, pretending that my IRA didn't exist.

It seems like the consensus that is developing is that RE in the mid-thirties is a pipe dream. I guess I'm okay with this. Even getting the mortgage paid off and taking a lower-paying job while I let my portfolio grow is a step towards FI at some point in my life.

Hey, don't swing too far away from your dream, just remodel it a little. This group is just doing what it does best: distilling hundreds of years of collective experience into one thread so you can make your decisions more wisely. Consensus? Don't think we ever achieve that . You have no idea how far along the path you already are compared to your contemporaries.

A part-time worthwhile job is a great idea, not just financially but to stay engaged. Maybe a nice 2-3 month vacation between the current job and the next one, to give yourself a reward for seeing the light. You will be amazed at how much stress reduction you'll derive from knowing that your work is optional and not indentured. Throw in health insurance and a few other perks and your plan will be supercharged just a few years later than your current target date, and you won't mind waiting a little if your work is enjoyable.

And remember 72T distributions if you don't want to burn through all your post-tax dollars.

You're probably a little ragged at the moment from work-toxicity but it will fall into place now that you are taking steps to make it so.

 

[aida2003]

Anne,

I'm not competent to say Welcome to the boards, because this is my 1st post over here. I discovered these boards a week or so ago and I ENJOY reading real stories.

Anyhow... I wanted to say that I enjoyed reading your story. I found the following notion interesting "you married because everyone else did." It seems that many people subconsciously follow some unwritten rules of the society.
E.g. A few years back I realized that I don't have to spend money "to enjoy today" because my parents and my sister do. Not that I spent much money ... Now I just attempt to evade discussions about materialistic things because I don't want to argue either. I'm sure I'm like a black sheep in the family now but I ignore that, too. I'm living my life and they're living theirs. Though sometimes I get concerned that I'll be the ONE to help them all because they have no savings and I do

Good luck in your journey.

PS. It's a stupid question probably, but in your OP did you really mean MILLIONS? Like $115M in student loans, etc.

 

[Anne]

PS. It's a stupid question probably, but in your OP did you really mean MILLIONS? Like $115M in student loans, etc.

Thank heavens, no. Although thinking about that makes $115,000 in student loans look pretty reasonable! I've fallen into the finance industry habit of using M for thousands and MM for millions.

I hear you about peer pressure to spend. Maybe, when your family starts talking about all the stuff they bought or want, you can steer the conversation towards personal finance and investing? They might find it boring at first, but maybe it'll get them thinking.

 

[ziggy29]

I hear you about peer pressure to spend. Maybe, when your family starts talking about all the stuff they bought or want, you can steer the conversation towards personal finance and investing? They might find it boring at first, but maybe it'll get them thinking.

The funny thing is, once you develop the mindset, watching new deposits grow your balances and seeing the overall portfolio rise over time is just as fulfilling as having "stuff."

Of course, like anything it's possible to go overboard and become obsessive about it, but better to be obsessive about saving than about running up a huge tab on the plastic because you've gotta have more stuff...

 

[Ronstar]

Welcome Anne,

Maybe consider going part time or lesser hours at your current firm. I found that I disliked my job less when I cut down to 4 days a week. Maybe you would too. Good luck in whatever you decide to do.