Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Another update post
Old 10-25-2019, 10:12 PM   #1
Recycles dryer sheets
 
Join Date: Jun 2009
Location: SoCal
Posts: 265
Another update post

I thought I would post another update as I get closer to FIRE. When I started on this forum, my ER target date was 55. Now I can officially make it earlier at 52! Still a few years away, but I am on course so far.

As of October 2019:

I turned 47 this year. I had a job change (with the prior j*b paying a severance that was invested, since I found a new j*b I liked right away). Other than that, life is cruising along!

401k/tIRA: $855K
Roth IRA: $50K
After-tax investments: $261K
HSA/Retirement Medical: $50K
Cash: $100K
Total: $1.3 M

Debt: $450K, 27 years remaining @3.5% fixed. Home value is about $650K. No other debt.

Firecalc, Fidelity and Vanguard all say FIRE at 52 will be nearly certain

Looking forward to tracking expenses to tweak my post-FIRE budget. I can't believe I am so close to the finish line now!

Prior updates: December 2017 - Update from my 2009 intro post

Hi all!

What a difference a few years makes. I was looking back at my intro thread from ~8 years ago. Here are the changes:

1. 45 now, still single, but met Mr. Right and we are are happily cohabitating. No plans to marry (his kids are grown and I never had/wanted any) and we keep our finances separate (except for a small joint checking account to share day-to-day expenses). We are both very happy this way and it is working for us.

2. Desired retirement age is still 55. Gettin' closer...

3. I now make about $150K per year (give or take, depending on bonus)

4. I now have $750K saved in a 401k (max savings plus great company match...and nice market returns since 2009). AA a little more conservative now, at 55% stocks/45% bonds

5. Cash / e-fund: $100K (yes its a lot - but it would take me awhile to find a new job if I lost my current one. this is about 2 year's expenses).

6. VG Investment Accounts: $210K (mostly in index funds, generally along the same AA as above)

7. I still have my tiny Roth that has grown to $13K now (I haven't been able to add to it because of my income but it is still there )

8. Debt side: no more student loan, but I did sell my old tiny 900 SF condo and purchase a new 2100 SF townhouse last year. I badly needed more space and the location of the new place is ideal. However, it did up my mortgage debt: I now owe ~$470K with 29 years left on it at 3.5% fixed. I plan to keep the new place and the current mortgage until I retire, when I may opt to pay off the balance. The place is currently worth around $640K or so. Although my SO lives there with me, I provided the down payment with my own funds, secured the mortgage individually, and the property is titled solely in my name. SO pays a small amount of rent in addition to the shared day-to-day expenses. I do have a living trust that allows him to stay in the house for a year if I should die (so he is not immediately tossed out on the street), before the house is sold and proceeds going to my personal trust. He is aware of this and does not require any additional security.

I still can't believe the changes from 2009

If anyone has any suggestions on tweaks for the last 10 years of accumulation, please let me know!

My original intro post from 2009:
------------------------------
Hi, I'm caninelover and would like to learn from all you fine folks.
So here is my first post! I'm glad I found this place, I've been lurking for a couple of weeks and am ready to jump in. I've already found a lot of really good information, and hope to learn even more.

I am 37 and single/no kids, prefer to stay that way. My desired retirement age is 55. I currently make between $115K-$125K per year (depending on bonus). I have $200K saved in my 401k, invested aggressively 90% stocks/10% fixed income. There is also a Roth IRA with $8K, plus $45k (about a year's expenses) in cash, mostly in VG money market funds. On the debt side, I have a mortgage with $200k/15 years fixed at 5.5% left on it so it should be paid off when I'm 52. I also have $40k left from grad school student loans, fixed at 4.25%. No other debt.
__________________

caninelover is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-26-2019, 11:15 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Apr 2015
Posts: 1,318
Congratulations.
__________________

__________________
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime.
pacergal is offline   Reply With Quote
Old 10-26-2019, 03:16 PM   #3
Thinks s/he gets paid by the post
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 2,463
Congrats! Sounds like you're doing great.
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline   Reply With Quote
Old 10-26-2019, 05:08 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 5,500
Congrats. Very good progress.
Have you given any thought yet about how you will tackle healthcare coverage from 52 to 65 y.o.?
__________________
TGIM
Dtail is offline   Reply With Quote
Old 10-27-2019, 12:10 PM   #5
Recycles dryer sheets
 
Join Date: Jun 2009
Location: SoCal
Posts: 265
Thanks everyone! It is both exciting and gratifying to be close the finish line

Dtail, for the first 2-3 years I should be able to get coverage through my partner's employer plan. After he retires, I will get coverage through a Covered California plan. I have looked into this and there are a good variety of plans available in my area, and I have included the costs into my spending plan.

The premium costs become very high from 60-65 - gulp. But as long as it in the budget it should be manageable. I will keep checking the costs annually though for the next few years.
caninelover is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Update to: Another "Can I retire yet" post movingrightalong FIRE and Money 5 02-02-2018 03:28 PM
Another Update and Asking for Advice PandaBear FIRE and Money 6 07-27-2017 05:41 AM
Update after another 2 years piranha Young Dreamers 3 12-29-2016 02:49 PM
Another update after 1.5 years! panhead FIRE and Money 17 06-25-2015 12:05 PM
Another Trinity update Nords FIRE and Money 0 03-23-2004 11:16 AM

» Quick Links

 
All times are GMT -6. The time now is 10:43 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×