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Old 01-11-2013, 10:34 PM   #21
Full time employment: Posting here.
arebelspy's Avatar
Join Date: Apr 2011
Posts: 625
Similar to the above poster, I have a "not being critical, just curious" question.

1MM at 47.
Originally Posted by ghandi View Post
Currently saving $35k a year for retirement. Figure I'd get to $2m by the time I'm 52ish, then its probably time "to go"...
How do you hit 2MM in only 5 yrs? 1MM->2MM in 5 years adding 35k/yr is like 12% per year, which seems ambitious.

I guess one answer being that 500k in equity in properties you could sell. But it seems odd to not count it now (in the 1MM) but do count it in the 2MM. Do you basically mean 1.5MM now, and 2MM in 5 years? Or did you mean 1MM liquid now, and 2MM liquid (without counting the properties or proceeds) in 5 years?

Either way your progress and assets at our age is quite impressive. Congratulations on your choices.

And it was very fun for me to read the OP with your "realizations" - such bliss and freedom. Thanks for sharing.
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Old 01-13-2013, 08:06 AM   #22
Dryer sheet wannabe
Join Date: Jan 2013
Posts: 14
Originally Posted by ghandi View Post
Last week I realized I got past the $1,000,000 mark. Took 25 years, saving regularly along the way. I never made more than $100k per year. Always lived below my means. No wives, no kids (so far).

I thought a lot about early retirement over this last weekend and decided to join and post about how I was feeling (vs. retirement withdrawl rates, taxes, etc).

[*]Work and workers don't seem to bother me as much this week as they did 2 weeks ago, but interestingly enough I think I'm getting more done at work now that I seem to care less (maybe I should stop watching the movie, Office Space).[*]I spend a lot time thinking about where I'm gonna sail my 32 sail boat and if I can split time between my mountain cabins in SC and Arizona[*]I reqularly take an extra 20 minutes in the morning to have an extra cup of coffee with my girlfriend before I go to work, getting to work by 8:00 am feels irrevelant[*]I'll never again move for a job to make more money in preparation for moving again and making more money[*]I'll never again apply for job that gives me more money but reduces my quality of life (stress, being on call, staffing issues)[*]I suggested to my girlfriend she reduce her work schedule to 3 days a week so she could spend more time with and caring for her aging Dad[*]Told my girlfriend not to worry about money and bills, told her we had plenty and not to worry about that stuff any more[*]I talk to my cats more[*]I talk to my neighbors more[*]I talk and spend more time with my friends and family[*]I find it easier to meet people in public places and strike up conversations with stangers

Interestingly, after reaching the $1M, goal the money is not nearly as important to me as the choices it provides. Choices I would not have considered prior.

I'm much more relaxed now about how I feel about myself, my family, my friends, and my surroundings. I wonder if I should have felt this way all along?

FIRE tbd
I can relate. I recently found out there's a reasonable (but definitely not guaranteed) chance that I will coming into a decent amount of money sometime in the next 5 years. Just knowing that possibility exists makes my daily work life stress level decrease. It makes me realize that work can even be enjoyable when you do it with the mindset that you aren't forced to do it.

In the meantime I continue to enjoy living frugally and building my own wealth so if that outside $ doesn't materialize I can still find that peace of mind.
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Old 01-13-2013, 11:35 AM   #23
Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: USA
Posts: 1,003
Congrats! Sounds like life will be a little less stressful for you.
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Old 01-13-2013, 11:48 AM   #24
Recycles dryer sheets
Join Date: Apr 2012
Location: Seattle
Posts: 479
Originally Posted by ghandi View Post
I have a house and mountain cabin in AZ, a house in SC, and a mountain cabin in NC. The 32 sailboat is used and paid for. Got 4 other boat projects in the back yard (all of them cheap). I have 2 older cars I drive to work and 2 project cars in the back yard. I have $100k of debt in mortgages, $600k of equity in houses and stuff. House in SC is cheap, AZ house is expensive. I live in SC right now.

Plan to spend a long time with the girlfriend. Maybe get married, we'll see. I'll get a prenup if we do.

Currently saving $35k a year for retirement. Figure I'd get to $2m by the time I'm 52ish, then its probably time "to go"...
If those older cars are Chevy Nova's I'd be interested in taking them off your hands for a fair price...
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