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Old 01-07-2020, 02:53 PM   #41
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When you enter you info into firecalc, how many years do you enter? If you are entering a large number, like 60, try entering 30 years and what is yopur success rate?
+1. I learned this trick little late. I run two 30 year simulations: first one using the current balance and second one using the lowest balance of the first one.
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Old 01-07-2020, 05:02 PM   #42
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We live outside Huntsville, Al, a mid size city of about 450,000. The nickname for this city is the Rocket City, and they bill themselves as one of America's smartest cities. I agree. And unemployment is an extremely low 2.1%.

NASA and Redstone Arsenal employment will be 50,000 people in a 3-4 years, and the FBI is bringing in an incredible number of workers in their bomb labs. It seems like everyone here you run into is a PhD or engineer of some kind.

This city has a huge computer programmer population, often working for large aerospace companies. Other huge projects outside of NASA are missile designs, night vision for pilots, future helicopter designs and testing and combat drones. And the United Launch Alliance builds the biggest solid rockets with boosters to launch satellites.

The new 4,000 employee Mazda-Toyota factory is being built, and I have no idea where they're going to come up with production personnel. With a couple of hundred manufacturing robots, robot programmers and mechanics are badly needed. The local community college has a large robot training program.

There seems no end to the local employment prospects here, especially in computer software. The whole region is full of factories of all sizes feeding into the space industry and producing machine work of the highest order. The "Iron Dome" missile defense system components and other secret operations are also manufactured close by.

We moved here 2 months ago, and I've never seen anything like this medium size city.
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Old 01-07-2020, 06:43 PM   #43
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You haven't mentioned items that are practically inconceivable to a 32-year-old, such as having to pay thousands for home upkeep that we used to be able to do ourselves. Right up until we can't. This applies even to people who have always "taken care of themselves."

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We've been in our house for over 23 years. We're paying more in property taxes and utilities over the years. Costs for water/sewer/refuse increase annually by vote of our city council. Levies periodically pass, which increases our property taxes. Costs for most food items gradually go up, some more obviously, others just a little bit at a time, until you realize that you're paying twice or more what you used to for beef, for example.

Hopefully, you get the point.
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Career not going nearly as well as investments anymore
Old 01-07-2020, 08:30 PM   #44
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Career not going nearly as well as investments anymore

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Originally Posted by RioIndy View Post
I want to continue to increase it a bit more. But it theoretically is feasible, and I'm not basing it on 2019 returns. Again FIREcalc and the other one give me 95%-100% success rates with my expenses levels, which are rock-steady at under 30K / year. And I'm happy with my lifestyle. (though a major life event is of course always possible). I'm in Canada where health care is covered by taxes.



But there are still valid arguments for continuing at least a bit longer.


I just finished a book by Kristy Shen and Bryce Leung, also Canadians, who are about your age and who travel the world full time on $1M net worth. Check out “Quit Like A Millionaire.” Impressive. They explain every detail of their style and how they fund it. Good luck!
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Old 01-07-2020, 08:41 PM   #45
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...

At $800K, which is awesome BTW at 32 , ....

Your expenses will not remain rock-steady over the coming decades of your life. They. Will. Not. Even if you don't want to spend more money, you will. Housing costs, including utilities, property taxes, rent, whatever, will increase, whether you want them to or not. Clothes will eventually wear out and you'll need to replace them. Etc. That doesn't even take into account extraordinary expenses...
Thanks, but yes regular inflation is factored into those expenses over time. And my expenses factor in everything from clothes, shoes, vacations, gifts, electronics / gadgets, going out to bars.

Biggest possible change would be kids, which is very doubtful to happen (more likely to just get another cat or dog). And things like a replacement vehicle in a few years.

But I continue to agree that I still will likely need to work at "something" for a bit longer.
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Old 01-07-2020, 08:44 PM   #46
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When you enter you info into firecalc, how many years do you enter? If you are entering a large number, like 60, try entering 30 years and what is yopur success rate?
Putting in 30 years instead of 60 returns a result of 95.0% (119 possible 30 year periods with 6 failed cycles).
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Old 01-08-2020, 02:32 PM   #47
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Without knowing much more of your situation (family, kids, spouse...) if I were in your shoes and had $800K invested in index funds at 32... I would be happy to move into something entirely different, and not necessarily lucrative, but fulfilling and enough to pay the bills for the next decade or two as the nest egg grows...

And I say this as someone who is a 15+ year software developer, who hasn't yet been overtaken by AI...

I'd look into being a national park ranger and move to a really low cost of living area (maybe Alaska?) or maybe a High School Physics teacher (always loved that subject most, and I really enjoy teaching) or possibly I'd look into starting a business... in an area I'm really comfortable in, yet small and scale-able (organic farming?). Maybe put your software development skills to work, developing a platform that might benefit some industry... where your time and energy is invested in a business, and not so much your money.

When you consider looking back at your life, from the future, and the satisfaction in that reflection, about what you accomplished. The things you did that meant something will matter way more to you... banking, software... is a means to an end. It doesn't provided fulfillment. Well, I can't say that absolutely... I know some people who genuinely LOVE coding, and work on projects that impact the world around them... but look at doing something that brings you joy... go do that. You already have your retirement on track to cover most of the rest of your life... as long as you don't dip into it within the next several years. Focus on quality, in what you choose to do next... you're in a unique position that most don't find themselves in at your age. Good luck
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Old 01-09-2020, 07:34 PM   #48
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Disagree with the person who recommended becoming a project manager as my employer got rid of all of ours in that role. . . Teams are "agile" these days supposedly, fwiw.

I am old and would not go into IT now if I was not already there. I was going to recommend you keep working some years to accumulate Social Security credits - but I see you are in Canada. Do they have anything like the 35 years of work SS uses to figure your benefits? (Sorry, I know nothing about this - I assume you get something there that is similar perhaps better).

On firecalc, do you realize it does not account for taxes? So if you want to net 30K, you need to use 40k (or whatever) as your spending. Not having to worry about health care is a huge huge benefit.
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Old 01-10-2020, 12:15 AM   #49
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While I am quite sure that certain levels of coding are being exported. Computer Science/Software Engineering majors are still some of the most in demand STEM majors in the country and graduates from good schools are getting top dollar offers. So obviously there is still real career potential for those with the right background. But there is a big difference between someone that has one of those degrees from a good school and someone that took a six month training course and does basic coding. Nothing is stopping the OP from getting that real degree and still having a great career or keep looking for that start-up that needs someone with a banking background that can also understand their software company. 32 and minimal assets/low budget lifestyle would be far too thin for me and a no go on ER.
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Old 01-10-2020, 05:29 AM   #50
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+1. There are schools though that accommodate graduates with degrees in other majors, who want to "go back" to obtain their BS or MS in Computer Scuence. The programs take 12-18 months and are full time course loads of 4 to 5 courses over either 12 mos. (for a BS) or 18 mos(for an MS) . They are very rigorous but avoid the student having to take other courses that are not related. There are specific requirements for the major, just as there are for any other major. So with roughly 12 courses(36 credit hours) you obtain your full MS from a well regarded institution. You can be enrolled in the Masters program from the start of this focused education process.

The idea that IT is over for junior or entry level programmers is absurd. It remains one of the best areas to study vis a vis career prospects.

Frankly I think the OP was searching for a short cut, which obviously limits his marketability in the computer science field.
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Old 01-10-2020, 06:23 AM   #51
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While I am quite sure that certain levels of coding are being exported. Computer Science/Software Engineering majors are still some of the most in demand STEM majors in the country and graduates from good schools are getting top dollar offers.
Exported at my Megacorp who had a requirement of an MS degree. So it isn't just code mills.

But, yes, they are hiring and getting top dollar. Frequently more than people who were there for 10 years!

Don't ask me what kind of environment that created.

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The idea that IT is over for junior or entry level programmers is absurd. It remains one of the best areas to study vis a vis career prospects.
It is not over. It is shortened. Get the job, make the company pay for what it is worth. No matter how valuable they say you are, don't believe them. Take everything you can get, because once you turn 45 or so, you're on The List for disposal.

There's talk that cosmetic procedures are on the rise in Silicon Valley so that one can look youthful. New article about it yesterday. I'm not sure this is a huge trend, but I did see a little of it. One of our directors moved to SV and after a few months there, he colored his hair and got obvious Botox. I thought, "power to ya, Bud." Now people are saying it is part of avoiding ageism? I never really thought that, but the article may have some truth.
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Old 01-14-2020, 07:19 PM   #52
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engineering took me on the same path, just not as well paid. I spend time at Makerspace's and other low cost high touch activities. Lots of exercise. I continue to explore opening a small business. I've thought about taking up a trade, like metal-working.
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Old 01-14-2020, 08:07 PM   #53
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I'll add that both FIRECalc and ******** (huh odd that that other calculator is obscured), both report 95%-100% success rates for my level of expenses and AA.

I'm fine working more years, but there's no way I'm going to do any more unpaid work.
Well, that makes me wonder what calculators are being censored!

I'm slightly older and have about the same NW. It's not enough for me to retire. My plan is to be FI and have my house paid off by my mid 40s, but I'm not certain I will retire at that point, as there are a number of external factors which might come into play between now and then. Hang in there, whatever you decide, career-wise!
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Old 01-15-2020, 01:18 AM   #54
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Don't let your tax dollars go to waste.
Bureau of Labor and Statistics has the info you need for your next act.

https://www.bls.gov/news.release/pdf/ecopro.pdf
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Old 02-05-2020, 08:18 AM   #55
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One month later, I'm now at 825K AND I just got a new job!

Coronavirus is the latest event to do some weird things to the markets though, and this new job came with a lot of concerning red flags, but I'm going to give it my best shot and keep my expenses on the lower side for a little bit longer
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Old 02-20-2020, 02:20 PM   #56
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One month later, I'm now at 825K AND I just got a new job!

Coronavirus is the latest event to do some weird things to the markets though, and this new job came with a lot of concerning red flags, but I'm going to give it my best shot and keep my expenses on the lower side for a little bit longer

Congrats on the job. I'm coming to this thread pretty late.

With $825k you are set IMHO, especially since you are Canadian and have health insurance.

My advice if you get tired of working in IT, is to go over seas and teach English somewhere (maybe not Asia right now), or do freelance IT work.

The cost of living is so much lower you will probably end up spending $24k per year or less. So you should have plenty of money to both live off of and have your portfolio grow even if you don't work.

You could become a "global snowbird" and not have to go through another winter again in your life. For US and Canadian citizens its very easy to stay in Mexico for 6 months at a time. Thailand is supposed to be a great place for 3 month visits. In Europe, Portugal should also be a nice place to stay for 3-6 months stays.

This would be an easy decision for me if I were in your shoes. I'd be happy to get out of Canada for half the year just to avoid the cold. The fact your living expenses will go way down as well, is an added bonus.
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Old 02-20-2020, 04:41 PM   #57
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Wait for a market correction. YOu'll be happy you're still working.

This past decade were the golden years. Almost anyone with money invested did well. It'll be interesting to see the threads when the market makes its correction.
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Old 02-24-2020, 06:38 PM   #58
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Wait for a market correction. YOu'll be happy you're still working.

This past decade were the golden years. Almost anyone with money invested did well. It'll be interesting to see the threads when the market makes its correction.
The sky is definitely falling right now!
Markets down like 5% in the last 5 days. I put a tiny bit more money in on day 2 but could not have known that it was just going to get lower. *shrug*
The R word is suddenly showing up everywhere again as well. So I can be very grateful that the timing of this new job is coinciding with this market correction.
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Old 05-11-2020, 05:56 AM   #59
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Wait for a market correction. YOu'll be happy you're still working.

This past decade were the golden years. Almost anyone with money invested did well. It'll be interesting to see the threads when the market makes its correction.
I guess my post in Feb aged well for once.

Hopefully you and everyone else were buying the whole way down. I spot checked a couple of my accounts, one was down 2%, 8% and 10% as of Friday. At one point they were down almost 25%.
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