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I think I hit FI!
Old 11-19-2023, 12:54 PM   #1
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I think I hit FI!

With the market run and receiving my annual bonus, I tallied it all up and decided to give Firecalc a whirl. I have always added a future retirement date but this time I left that field blank.

I averaged out my last ten years of spending, added a bit more for inflation, anticipated subsidized health insurance and income taxes.

I included expected Social Security beginning at age 67 and anticipated lower spending beginning at age 70. I'm 53 now and put in a 40 year retirement.

FireCalc gave 100% chance of success.

I still have kids in high school so not likely to pull the trigger until my youngest graduates but its nice to know that I could if I had to. There is a high likelihood my mega corp will offer me a buyout in the next five years but not until after I turn 55. Hopefully the timing works out just as my youngest graduates in 3.5 years.
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Old 11-19-2023, 12:58 PM   #2
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Always good to size things up and prepare. At same age, I accepted an ex-pat assignment. When I did, I realized that it could possibly be last assignment but I decided to take stock of assets and start getting a deeper understanding of assets, risk, expenses etc. I ended up working until 55 but then consulting for three years after that - picking and choosing what projects I took. It was a great off ramp; glad I prepared.
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Old 11-19-2023, 01:02 PM   #3
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Congratulations, sounds like your plan is working well.
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Old 11-19-2023, 01:03 PM   #4
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I recall a conversation with an older coworker, many years ago. In that discussion I mentioned I hoped there would come a day when I only w*rked by choice, and not because I had to. She replied she didn't have to, due to her financial position; I thought that must be a great position to be in. I got to that point years later, and it was a great feeling. Congrats, and maybe start planning your actual RE date!
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Old 11-19-2023, 01:10 PM   #5
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Originally Posted by jebmke View Post
Always good to size things up and prepare. At same age, I accepted an ex-pat assignment. When I did, I realized that it could possibly be last assignment but I decided to take stock of assets and start getting a deeper understanding of assets, risk, expenses etc. I ended up working until 55 but then consulting for three years after that - picking and choosing what projects I took. It was a great off ramp; glad I prepared.
I would love to take an expat assignment after the kids are done with HS but not likely to happen for me. One possibility though is that I shift to part time if I can give up the parts of my job I like least. It's not too far fetched given my position. That would allow me to stretch it out to maybe 60.
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Old 11-19-2023, 01:12 PM   #6
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Congrats! This really helps with the job sanity.
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Old 11-19-2023, 02:46 PM   #7
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How exciting, congrats! Double good, because the more you have, the faster it grows.

Now just be aware (beware?) of OMY syndrome.
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Old 11-19-2023, 03:50 PM   #8
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Fantastic! Sleep well tonight.
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Old 11-19-2023, 04:01 PM   #9
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Congratulations!

Being FI is such a great feeling. Savor it.
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Old 11-19-2023, 05:14 PM   #10
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Congrats! - I was your age when it all came together as well and the math made sense. I retired at age 59. I waited for the kids to get jobs and made sure I had the wedding funds taken care of ( 2 girls) . It's a REALLY good feeling when you know you can step away and be solid. So, once again Congrats!
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Old 11-19-2023, 05:21 PM   #11
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Congrats - that's a wonderful milestone!
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Old 11-19-2023, 05:56 PM   #12
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I would love to take an expat assignment after the kids are done with HS but not likely to happen for me. One possibility though is that I shift to part time if I can give up the parts of my job I like least. It's not too far fetched given my position. That would allow me to stretch it out to maybe 60.
that's the key. Knowing your situation gives you the chance to be alert for a fork in the road that makes things quite different. Unlike many, the last years of my work life were among the most fulfilling and enjoyable of my career.
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Old 11-19-2023, 07:59 PM   #13
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Congrats! - I was your age when it all came together as well and the math made sense. I retired at age 59. I waited for the kids to get jobs and made sure I had the wedding funds taken care of ( 2 girls) . It's a REALLY good feeling when you know you can step away and be solid. So, once again Congrats!
I do have 3 kids so that will likely keep me from pulling the trigger too soon. College is taken care of but other help isnít really budgeted in.

Sometime between 57 and 60 sounds realistic.
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Old 11-20-2023, 07:56 AM   #14
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Good job on your successful journey to this point. Just a warning, your BS bucket just became a lot smaller.

Be nice to receive a megacorp going out the door package, and if you're 55 there's good possibility you can tap your megacorp 401k penalty free if needed.
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