Share Your FIRE Milestones - 2021

[The Cosmic Avenger]

i guess there would be no reason not to rent, but would be nice to own my own place. Looking to buy land and get a house built. Found a great farm house plan that looks promising.

Mostly index funds in various retirement and taxable accounts. The alternative assets are in crypto.

Well, as retired military you should have a pension and your health care paid for, so you shouldn't need to draw much, if at all, from your nest egg, depending on your retirement budget. If interest rates keep falling, though, you might want to get a mortgage if you're sure you want to buy. Your investments might outperform the interest rate.

 

[Harris4crna]

Well, as retired military you should have a pension and your health care paid for, so you shouldn't need to draw much, if at all, from your nest egg, depending on your retirement budget. If interest rates keep falling, though, you might want to get a mortgage if you're sure you want to buy. Your investments might outperform the interest rate.

Yeah, the wife and will make 200k in pension income. Should not need to draw except for big purchases. We will see how it goes in a couple years when it's time to make the decision.

 

[Andre1969]

Well, today is a milestone of sorts, more time-related than money. Today is my 54th birthday. My current goal is to retire on my 55th. So, hopefully I can kick the OMY habit, and finally join the ranks of the retired!

It would have been cool if the stock market cooperated and gave me a new all-time high to celebrate, but that's not happening apparently, from the way things are going. Oh well, I did hit a new high on March 28. And, I closed out yesterday at $3,184,627 give or take. So, I can't complain!

 

[F.I.R.E User]

Well, today is a milestone of sorts, more time-related than money. Today is my 54th birthday. My current goal is to retire on my 55th. So, hopefully I can kick the OMY habit, and finally join the ranks of the retired!

It would have been cool if the stock market cooperated and gave me a new all-time high to celebrate, but that's not happening apparently, from the way things are going. Oh well, I did hit a new high on March 28. And, I closed out yesterday at $3,184,627 give or take. So, I can't complain!

Will you use Rule of 55?

 

[Andre1969]

Will you use Rule of 55?

Nah, I have enough in after-tax accounts, to bridge the gap between 55 and 59.5. So I won't have to touch the 401k.

 

[NgineER]

Nah, I have enough in after-tax accounts, to bridge the gap between 55 and 59.5. So I won't have to touch the 401k.

Would it be better to even out the tax burden by tapping the 401k sooner rather than letting it grow?

 

[Andre1969]

Would it be better to even out the tax burden by tapping the 401k sooner rather than letting it grow?

Yeah, I'm planning on tapping into some of that stuff, before my RMD age, at least. I figure once I'm no longer pulling in any W2/wage income, I'd start doing some Roth conversions. And at 59.5, perhaps pulling out a little more, to either spend or reinvest in an after-tax account if I don't need it.

I imagine just letting it sit and grow between the ages of 55 and 73 or whenever I'm supposed to start taking RMDs (might be 75 for someone my age), it could grow to an obscene amount, with some pretty big RMDs!

 

[Samething]

Just ran Firecalc after it was updated to include 2023. My expenses +14% came out with a 100% success rate without SS. Nice.

 

[F.I.R.E User]

Just ran Firecalc after it was updated to include 2023. My expenses +14% came out with a 100% success rate without SS. Nice.

What about other calculators?

 

[Samething]

What about other calculators?

Gosh I’ve used every calculator I could find especially before I retired @5 years ago. This year I anticipate a little higher withdrawal rate. I’ve had some medical expenses and bought a few toys. I just got a hoot out of my Firecalc results today when I ran the simulation with this year’s anticipated draw +14%. I just ran another calculator after you asked with the same results.

 

[Jeffman52]

Bonus payouts hit our account officially putting DW and I at $2M liquid (cash + invested assets) a total of 2.5M net worth.


FIRE in just 7 weeks
FYI found this from me in this same thread in 2018

Just hit 850K NW this month on our way to a minimum of 1M (goal of 1.2M) to retire in the next few years. Wife and I really got a late start on setting ourselves up to retire, but better late than never and better to have 850K dollars than zero dollars saved for retirement.

 

[Finance Dave]

Bonus payouts hit our account officially putting DW and I at $2M liquid (cash + invested assets) a total of 2.5M net worth.


FIRE in just 7 weeks
FYI found this from me in this same thread in 2018

Just hit 850K NW this month on our way to a minimum of 1M (goal of 1.2M) to retire in the next few years. Wife and I really got a late start on setting ourselves up to retire, but better late than never and better to have 850K dollars than zero dollars saved for retirement.

That's awesome! You really whipped that original goal...was that mainly due to a good market or did you contribute a lot more than anticipated or what?

 

[Jeffman52]

That's awesome! You really whipped that original goal...was that mainly due to a good market or did you contribute a lot more than anticipated or what?

Some of both.. the markets from 2018 to end of 2021 were incredible.. I would love to see that again. But also we were living way below our means with two 100K salaries, so we were able to contribute significantly. This last year the house was paid for so my entire pay was going into retirement accounts, while we lived (and played) off DW's salary.

 

[glasswave]

My retirement account made it to $1m for the second time after falling from a high of $1m,4k back around the equinox.

This time I exceeded the $1m mark by just $14. Suffice it to say, it is not as thrilling the second time.





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[Koolau]

Bonus payouts hit our account officially putting DW and I at $2M liquid (cash + invested assets) a total of 2.5M net worth.


FIRE in just 7 weeks
FYI found this from me in this same thread in 2018

Just hit 850K NW this month on our way to a minimum of 1M (goal of 1.2M) to retire in the next few years. Wife and I really got a late start on setting ourselves up to retire, but better late than never and better to have 850K dollars than zero dollars saved for retirement.

Congrats on your good results and especially your impending retirement!