Monday Milestones!

[LOL!]

This is a tweet.

 

[walkinwood]

Congratulations SecondCor! This is quite a milestone. Hopefully, it will be like a snowball rolling downhill from here on.

 

[SecondCor521]

My withdrawal rate today would be 57.91%.

2Cor521

 

[SecondCor521]

My withdrawal rate today would be 38.93%

I'm calling myself FI when it drops to 4%, which I'm SWAGging at about another 4 years.

Or 99,627,104,722,793 platelets.

2Cor521

 

[bbbamI]

.....Oh no...you didunt......!

 

[aaronc879]

My withdrawal rate today would be 38.93%
I'm calling myself FI when it drops to 4%, which I'm SWAGging at about another 4 years.

I'm confused. Let's say you need $40K/yr to live on. That means you'd need $1M to have a 4%SWR and you plan to be at that in 4 years. If you're at 38.93% right now then that would mean you only have slightly over $100K right now. So you plan to save $900K in 4 years?

I guess what i'm asking is how does your % go down 35% in 4 years. My current % would be around 17% but it'll take me 15 years or more to get it down to 4%.

 

[SecondCor521]

I'm confused. Let's say you need $40K/yr to live on. That means you'd need $1M to have a 4%SWR and you plan to be at that in 4 years. If you're at 38.93% right now then that would mean you only have slightly over $100K right now. So you plan to save $900K in 4 years?

I guess what i'm asking is how does your % go down 35% in 4 years. My current % would be around 17% but it'll take me 15 years or more to get it down to 4%.

Well, the number isn't $40K in my case, but your question is still valid.

I calculate my FIRE net worth based on two things, really: The projected assets I will have less the projected liabilities I will have. Roughly speaking, I expect my liabilities to drop by about 1/3, and I expect my assets to roughly double. The combination of those two factors result in an approximately 11-fold increase in my FIRE net worth.

My liabilities are dropping, in turn, because every month I pay down my mortgage, my student loan, and reduce my number of remaining child support payments by one.

My assets are going up, in turn, because every month I contribute roughly 1/3 of my gross salary into savings, and my existing assets I have scheduled to grow based on historical rates.

Without getting into specific numbers, I don't really require very much to live on, and each month the vast majority (about 70% if I calculated that correctly) of my reasonably good income goes towards the above mentioned items.

HTH,

2Cor521

P.S. -- @bbamI, yes...I did

 

[aaronc879]

I calculate my FIRE net worth based on two things, really: The projected assets I will have less the projected liabilities I will have. Roughly speaking, I expect my liabilities to drop by about 1/3, and I expect my assets to roughly double. The combination of those two factors result in an approximately 11-fold increase in my FIRE net worth.

My liabilities are dropping, in turn, because every month I pay down my mortgage, my student loan, and reduce my number of remaining child support payments by one.

My assets are going up, in turn, because every month I contribute roughly 1/3 of my gross salary into savings, and my existing assets I have scheduled to grow based on historical rates.

Without getting into specific numbers, I don't really require very much to live on, and each month the vast majority (about 70% if I calculated that correctly) of my reasonably good income goes towards the above mentioned items.

HTH,

2Cor521

Well, as long as you understand your system that's all that matters. Congrats on getting close to FI.

 

[Spanky]

Looks like you are on your way to Silver and then Gold. However, do you really want to base your forecast on minimum wage?

 

[Ronnieboy]

If the withdrawal rate drops by almost 20% in two months, wouldn't it be <1 year to hit 4%?

 

[SecondCor521]

Looks like you are on your way to Silver and then Gold. However, do you really want to base your forecast on minimum wage?

I change my spreadsheet around regularly. The recent numbers I have included are to get to Gold FI.

If the withdrawal rate drops by almost 20% in two months, wouldn't it be <1 year to hit 4%?

It's not linear.

2Cor521

 

[SecondCor521]

Attached is a screenshot of my projected progress towards 4%.

2Cor521