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04-23-2013, 06:41 AM
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#121
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Recycles dryer sheets
Join Date: Jan 2008
Posts: 136
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Not sure this counts as a milestone. Getting better everyday to find the place that feels comfortable that we're saving enough for FI and living for today.
Had a milestone yesterday though, got to fill up on sub $3.50/gal
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04-23-2013, 06:46 AM
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#122
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Just received the pink slip today as mega corp (a major medical device company) has decided to cut our R&D budget by 50%. I am debating whether to find another position or simply retire as we can live on 2% SWR with a 100% chance of survival based on the estimates from firecalc.
__________________
May we live in peace and harmony and be free from all human sufferings.
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04-23-2013, 06:59 AM
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#123
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Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: USA
Posts: 1,050
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Quote:
Originally Posted by Spanky
Just received the pink slip today as mega corp (a major medical device company) has decided to cut our R&D budget by 50%. I am debating whether to find another position or simply retire as we can live on 2% SWR with a 100% chance of survival based on the estimates from firecalc.
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Congrats Spanky - some assumptions here... with 2% SWR, enjoy the severance and unemployment for a bit, that should give you time to figure out another job or RE.
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04-23-2013, 07:17 AM
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#124
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Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: USA
Posts: 1,050
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Personal milestones... turned 44 years old.
In the last 12 months...
1. Started contract employment at age 43, my first step to semi-ER. In May, it'll be 12 months, while it's 40 - 45 hours a week, I'm not stressed and feel it's a break from megacorp with a mix of office time and telecommute.
2. Added a rental for long term, buy and hold strategy.
3. Purchased a foreclosure as a short term contract for deed, coming due in Sep 2013. I would be happy if he could not closed the deal as it would make a great rental.
4. Net rental income exceed family expenses without changing lifestyle, but see lifestyle increase as the kids get older. This budget includes a monthly contribution to kids' 529 accounts but should reach our funding goal within 2 years or a lump sum deposit is possible.
5. Consolidated investment/retirement accounts from 11 to 4. I need to do the same with bank accounts as I've chased higher interest rates over the years. Now, it's meaningless.
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04-23-2013, 07:20 AM
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#125
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Thinks s/he gets paid by the post
Join Date: Apr 2005
Location: Duesseldorf, Germany
Posts: 1,202
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@Spanky
Might be a blessing in disguise.
Take your time to decide which path to take.
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04-23-2013, 07:21 AM
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#126
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Lots of personal milestones lately. Looks like 2013 was made for FIRE:
January 2013: DW gets a new ministry gig in a much more stable situation than where we were before, including a decent raise, housing and paid utilities. This gets me to planning my corporate exit in earnest.
February 2013: Quicken tells me that our net worth exceeds $1M.
April 2013: I get RIFfed, run the numbers, go through FIRECalc and realize we're probably going to be OK.
And today is Tuesday, and for all I know it might as well be Saturday.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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04-23-2013, 07:35 AM
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#127
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by Aiming_4_55
Congrats Spanky - some assumptions here... with 2% SWR, enjoy the severance and unemployment for a bit, that should give you time to figure out another job or RE.
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Thanks. That's my thought also. Enjoy the 5 months of severance and possibly one year of unemployment.
__________________
May we live in peace and harmony and be free from all human sufferings.
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04-23-2013, 07:38 AM
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#128
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by chris2008
@Spanky
Might be a blessing in disguise.
Take your time to decide which path to take.
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Hi Chris,
It might be. I am in NO hurry in landing another position as DW will still be working to receive health care coverage for both of us.
__________________
May we live in peace and harmony and be free from all human sufferings.
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04-23-2013, 10:18 AM
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#129
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Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: USA
Posts: 1,050
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Quote:
Originally Posted by Spanky
Thanks. That's my thought also. Enjoy the 5 months of severance and possibly one year of unemployment.
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After the overnight snowfall, we had 6" by me, taking the next 5 months off, May - Sept is ideal. Summer in the Twin Cities is the best IMHO, enjoy the lakes and free time, truly a blessing.
My contract assignment is scheduled to end June 30 and I was very hopeful to take the summer off, but new leadership just started and discussions of converting contractors to FTE is on tap. I will have to learn how to say No on an assignment extension and FTE.
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04-23-2013, 10:59 AM
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#130
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Smaller but important milestone: DW and I agreed on the withdrawal plan and on dates and times for withdrawing particular funds. This is based upon previously agreed upon retirement dates. These dates are pushed out a few years from our original ER plan so we can go on some expensive vacations while we still have work income. But no lackadaisical OMY syndrome here, we have a plan.
Of course, all bets are off if that bird flu in China really is being transmitted from person to person CDC Races to Create a Vaccine for China's Latest Bird Flu Strain - Businessweek
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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04-23-2013, 02:16 PM
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#131
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Recycles dryer sheets
Join Date: Apr 2013
Location: The sticks
Posts: 314
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Two big ones recently:
-Actually took retirement last August. Was planning for ER, crossed the 55yo threshold for the company pension plan, then went down with a stroke a few months later. While out on paid sick leave, I found out my job would be outsourced this year so PSL ran out and I went ahead and retired.
-Paid off the mortgage last month. I had tentatively planned for this event to be the trigger for ER, but ended up taking it a little early.
Spanky, go ahead and take your time. You'll probably start to enjoy this phase.
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04-23-2013, 06:56 PM
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#132
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Spanky, go ahead and take your time. You'll probably start to enjoy this phase.
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Thanks. I just have to change my mindset that we already have enough to retire and now it is time to start enjoy life.
Quote:
May - Sept is ideal. Summer in the Twin Cities is the best IMHO, enjoy the lakes and free time, truly a blessing.
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Yea - we have such a chilly and snowy spring this year. I can't wait to spend more time outdoor as the weather gets warmer.
__________________
May we live in peace and harmony and be free from all human sufferings.
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04-24-2013, 06:08 AM
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#133
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: dubuque
Posts: 1,163
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Its hard to adapt to retirement after being frugal all those years to get there. Breaking the careful spending habit is a tough one.
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04-24-2013, 06:27 AM
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#134
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Full time employment: Posting here.
Join Date: May 2011
Location: Twin Cities
Posts: 523
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Quote:
Originally Posted by Spanky
Thanks. I just have to change my mindset that we already have enough to retire and now it is time to start enjoy life.
Yea - we have such a chilly and snowy spring this year. I can't wait to spend more time outdoor as the weather gets warmer.
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70's this weekend!! Can't wait for ice out on Tonka
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04-24-2013, 09:54 AM
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#135
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,467
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I am already FIRE'd, but reached a couple of great milestones now that I am almost at my 65th birthday (June 8th).
1. I have my Medicare card for Parts A&B! Don't know if this is good or bad, but I'll find out after it becomes valid on June 1st.
2. My property tax assessment is now officially frozen! In Louisiana, if you are 65, live in the home, and your 2012 federal AGI was less than $69,463, you can do this. So now, the only way my property tax can rise from last year's $956 is if the millage rate rises.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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04-24-2013, 06:11 PM
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#136
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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W2R,
Great milestones - medicare and frozen tax assessment.
__________________
May we live in peace and harmony and be free from all human sufferings.
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04-25-2013, 03:02 PM
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#137
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Recycles dryer sheets
Join Date: Jan 2013
Posts: 295
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Quote:
Originally Posted by FIREd
Celebrate a new milestone on your journey to FIRE with us! Did you just pay off your mortgage, reach financial independence, or pass a nice round number on your way to FI? Tell us of your accomplishments here!
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NW = lifetime W2 earnings. Thanks to; time, compound interest, & LBYM's
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04-29-2013, 08:16 PM
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#138
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Dryer sheet wannabe
Join Date: Oct 2007
Posts: 11
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Net Worth finally hit 500k. 31 years old, married, with wife just finishing up ridiculously expensive 3 year doctoral program. Will be so thankful when she starts working.
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04-29-2013, 09:45 PM
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#139
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Full time employment: Posting here.
Join Date: Jun 2006
Posts: 927
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I have a milestone coming up. I retired from the army on may first 1993. Those 20 years seem to have gone by faster than the 21 years I was in the army.
__________________
CW4, USA-(ret)
RN, BSN-(ret)
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Broke the $2M barrier today!
05-01-2013, 06:19 PM
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#140
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Dryer sheet wannabe
Join Date: Mar 2013
Location: Pine
Posts: 18
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Broke the $2M barrier today!
Finally broke through the $2M barrier in savings and investments today. Who knows where the market will go tomorrow, so time to celebrate while we can. (Net worth up to $2.843M).
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