Class of 2027

[LivingTheory]

Anyone else aiming for FIRE in 8 years? Dates are flexible being this far out but the encouragement from those in a similar boat could be helpful.

Current situation:
$400k House
$300k Invested
$15k Cash
$5k Vehicle

$268k Mortgage

$450k NET WORTH

Saving $46k with employer match and paying off $20k-$30k from the mortgage per year. Expenses are $51k now, $25k without Principal and Interest. Hopefully income continues to rise and the date moves closer or fun spending moves higher.

[NgineER]

I’m aiming for 2024-2030, hopefully on the earlier side. But I want to be very Fi when I go.

[ziziric]

I'm targeting 2027 as well, on my 50th birthday. We are crossing over into double digits on the number of months left, it will be here before we know it!

[JoshTrent]

Quote:

Originally Posted by LivingTheory Anyone else aiming for FIRE in 8 years? Dates are flexible being this far out but the encouragement from those in a similar boat could be helpful. Current situation: $400k House $300k Invested $15k Cash $5k Vehicle $268k Mortgage $450k NET WORTH Saving $46k with employer match and paying off $20k-$30k from the mortgage per year. Expenses are $51k now, $25k without Principal and Interest. Hopefully income continues to rise and the date moves closer or fun spending moves higher.

Hey There.. and greetings from Colorado Springs!

I am aiming for FIRE in 2026 / 2027. I am ahead of you slightly - NW of $550k, but I am also 10 years your elder. The rest of the stats are similar (except for the contributions & house, our market's a little bit slower than yours!)

$300k House
$380k Investments (Pre-Tax, Roth & Taxable @ AA of 90/10)
$40k 529
$10k HSA
$10k Cash

$190k Mortgage

My Contributions are annually..
$24k (mine in R401k & match in pre-tax 401k)
MAX to HSA
MAX to Taxable.. Once my taxable reaches the balance of my mortgage, I may decide to pre-pay.. but right now I am enjoying my Index Funds' earning good $$!

My Expenses are $55k - and that includes a sizable Child Support payment.

My current project is recharacterization - from tIRA to Roth. I am moving over as much as possible each year - to the limit of what my Child Tax Credit will cover for taxes.

[BradyC10]

Targeting 2027 as well! This will be the date unless there is a package offer which I would take anytime after 2022.

Assets:
Tax advantaged accounts: $830K
Company stock: $115K
House value: $600K
Rental property value: $350K

Liabilities:
House mortgage: $135K
Rental mortgage: $225K

Spouse and I are 46 years old. I'm working at Megacorp and have a case of the golden handcuffs. Spouse is a stay-at-home parent. We have 2 teens.

Salary is $145K. We add approx $28K to the various savings vehicles each year. It could be more but we're just coasting to retirement now and have decided to enjoy life a little. The kids are in competitive gymnastics to the tune of $18k/year so we might increase our savings rate when they retire

I will have a pension (partially indexed) of approx $30K if I stay until 55 but wait until 60 to draw from it. Pension is reduced by 4% each year if taken earlier than 60. Retiree health benefits start at 55 (paid by company).

Estimated retirement income need is 90K pre-tax with about 25% of it being discretionary spending. I am assuming that the mortgage is paid and the kids are launched by this time. The plan is to sell our principal residence and downsize into the rental townhouse. Our tax burden will be greatly lessened in retirement since we will be able to split the income 50/50 between us. Currently I am in a very high tax bracket since I'm the sole income earner.

2027 can't get here fast enough!!!!

ETA: we're in Canada so no need to worry about healthcare

[JoshTrent]

Quote:

Originally Posted by BradyC10 Targeting 2027 as well! This will be the date unless there is a package offer which I would take anytime after 2022. Assets: Tax advantaged accounts: $830K Company stock: $115K House value: $600K Rental property value: $350K Liabilities: House mortgage: $135K Rental mortgage: $225K Spouse and I are 46 years old. I'm working at Megacorp and have a case of the golden handcuffs. /snip/ ETA: we're in Canada so no need to worry about healthcare

Wow.. congratulations! You are well on your way!

I am caught by the Golden Handcuffs as well.. Which has really given me serious focus to my expenses lately. (although my balance sheet isn't representative of that yet)

I wish my HC was a known variable in my equation. That sure would make finding the solution more straightforward.

[RxMan]

Quote:

Originally Posted by NgineER I’m aiming for 2024-2030, hopefully on the earlier side. But I want to be very Fi when I go.

This is pretty much my wide range of expected retirement dates as well. Realistically I think 2026-2027 is very possible. I want to be safety in the FI category before riding off into the sunset.

My wife and I will be really working to save in the next 5 years so we’ll see how much that will help. For me it’s kind of odd to be seriously thinking/planning my retirement because I feel too young and it still feels like a long way into the future.

[ckelly78z]

Hoping to FIRE at 62 in 2027, but health care seems to be the limiting factor...(I have many pre-existing conditions, and often hit my OOP deductible). I will have a decent pension of about $1400, 2 partial SS from my DW, and I, along with around $500K in my 401K, no debts, and a paid off farm.

My quandary is about finding/paying for health care from 62-65 years old until medicare kicks in. I can stay with Cobra for 1 year, which has me thinking about waiting until 64 to retire. Both my pension, and SS would be higher amounts, and my job is fairly low stress at Megacorp.

[LivingTheory]

Quote:

Originally Posted by ckelly78z Hoping to FIRE at 62 in 2027, but health care seems to be the limiting factor...(I have many pre-existing conditions, and often hit my OOP deductible). I will have a decent pension of about $1400, 2 partial SS from my DW, and I, along with around $500K in my 401K, no debts, and a paid off farm. My quandary is about finding/paying for health care from 62-65 years old until medicare kicks in. I can stay with Cobra for 1 year, which has me thinking about waiting until 64 to retire. Both my pension, and SS would be higher amounts, and my job is fairly low stress at Megacorp.

Depends what the insurance landscape looks like 8 years from now but I’d be hard pressed to give up another 2 years of life just for medical coverage. If ACA subsidies are still around, and not means tested, then this plan is probably very doable if you have lowish expenses at 62. Hopefully you’re able to save more then expected and all of this becomes a moot point. Good luck - you’re so close!

[segfault]

I'm shooting for FI in 2027, as well. I'll turn 45 that year. It's a pretty aggressive goal and assumes favorable growth of existing investments, and that I will be able to pay off my primary residence by then.

[RxMan]

Right now I have a wider target retirement date range of anywhere from 2024-2030 with an emphasis on trying to make it in the first couple of years in that range. We’ll see because there are a lot of unknowns.

I think the next 5 years of compounding could be huge for us. We’re hoping that our next egg really starts to grow. If there is a major recession in the next 5 years I’ll definitely be motivated to stay employed until there is a clear recovery.

It’s fun to think about retirement but right now I’m still focused on accumulation and growth. In a couple of years I’ll evaluate where we are and probably at that time attempt to focus down the target retirement date.

[RxMan]

Sign me up for the Class of 2027! After discussing retirement with my wife today we thought a 6-8 year timetable was a reasonable estimate. Naturally, I want to assume the best so I will work towards the early part of that range which would put me retiring in 2027.

Just for fun I set up a countdown on one of those apps late last year. I happened to pick Friday, April 30th 2027 (at 5PM EST) randomly just to have a countdown to follow. I really like the idea of retiring in the spring so I could see myself picking this kind of a date. The countdown on my phone says I’m under 6 years for this retirement date. It would be quite the irony if that should end up being my actual retirement date.

Lots of things can change going forward but I wanted to try and nail down a year to motivate me more to work towards that goal. It might be premature but setting an estimated date was fun and makes it a little more real rather than retirement being some far off abstract concept.

Hope to have many more of you join me in the Class of 2027. If I make it to April of 2027 that would be the month after I turn 53 years old which is not a bad age to finish employment.

I know it’s still a ways off but I hope to hear from others that also could be retiring in 2027. Good luck everyone!

[hopefullyoneday]

2027 for me as well as that is the year i can retire with a full pension. I would like to leave sooner but my work deducts 5% each year earlier than 2027. I am maxing out my 457, HSA and IRA for the past 5 years and will continue till 2027. My house has been paid off for the last 5 years and has a 450k value at this time. Work is tough as i am working as much overtime as i can to save and invest. Going on vacation next week and boy i need it. My current year income has my overtime as much as my regular pay.

[RxMan]

Quote:

Originally Posted by hopefullyoneday 2027 for me as well as that is the year i can retire with a full pension. I would like to leave sooner but my work deducts 5% each year earlier than 2027. I am maxing out my 457, HSA and IRA for the past 5 years and will continue till 2027. My house has been paid off for the last 5 years and has a 450k value at this time. Work is tough as i am working as much overtime as i can to save and invest. Going on vacation next week and boy i need it. My current year income has my overtime as much as my regular pay.

Enjoy your vacation!

[Youngblood]

I'm planning on 2028, but I would love to go in 2027. I have just over 900K in my portfolio and savings (pre and post tax). My home will be paid off in about 2 years. After that, I'm just coasting to the finish line....barring any other once in hundred year events, lol

[Youngblood]

I finally hit 1 million in investable assets a couple days ago!! After I updated my spreadsheet I use to gauge future portfolio balances and using FIRE Calc, I really think I can retire at the end of 2027. Fire Calc gives me 100%, so it aligns with what my spreadsheet is telling me.

[NgineER]

Congratulations - it is only six years away! I also updated my spreadsheet and my second SS bend point is in 2027 as well. 2027 looks like a good year. 2024 seems too soon for me at this point, but I'd love it I'm sure.

[Youngblood]

Quote:

Originally Posted by NgineER Congratulations - it is only six years away! I also updated my spreadsheet and my second SS bend point is in 2027 as well. 2027 looks like a good year. 2024 seems too soon for me at this point, but I'd love it I'm sure.

Thanks! I agree, 2027 looks like a good year to end the rate race! This past year has brought several family and friend medical issues / scares. We can't buy time, so I really don't feel I'm going to have a OMY issue. When I hit my number, I'm gone!

[RxMan]

My little countdown app reached under 2000 days a couple of days ago. There are 1996 days left if I keep that date for my retirement. Slow but steady!

[ziziric]

5 years away! I started my countdown 5 years ago so I’m at my halfway point, seems like it’s coming up quick now. How is everyone looking?

I got lucky and turned my 100% S&P allocation into 100% cash a month before the pandemic hit. Got about 30% back in around the bottom and trickled the rest of it back in, did pretty well overall on that. Won’t mess with market timing like that again though, it was extremely stressful!

Have 2 million in 401k and brokerage accounts.
700k house will be paid off in 2027.
Wife has a defense contractor pension and is 5 years younger than me so she will work an additional 5 years after I retire to pump the pension and give everything more time to grow before we start spending any savings.
Looking at a Roth conversion ladder to get me to 59, Hope that will still be available to us since the vast majority of our money is in 401k.

I could stop working today since the amount I am contributing to savings is almost irrelevant at this point, but I’m 44 and don’t want to retire so early and have my wife work 10 more years. So I’ll finish out these next 5 and then call it quits, can’t wait!

Hope everyone else eyeing 2027 is progressing nicely toward their goals and is getting excited about how fast it will be here!

Good luck!