Race to 2024 - please join :)

[dvalley]

Quote:

Originally Posted by MarieL For those who are set to reach FI/RE in 2024, how long have you guys been working on this?

I started a thread here (in the Hi section) when I was 38 (45 now) that's when I got serious about getting my financial life back on track after an expensive divorce which had knocked me off my feet. But I truly got the bug about retiring early when I was 29. I'm targeting retiring around 2025 (at 50 +/- 2 yrs).

[brokrken]

Quote:

Originally Posted by MarieL For those who are set to reach FI/RE in 2024, how long have you guys been working on this?

On my 12th year

[pjigar]

Quote:

Originally Posted by pjigar About 15 years so far.

15 years since I made a plan and started tracking finances aka savings rate, networth, expenses, etc. Savings in 401K since first day of job about 20 years ago.

[brokrken]

In a little over a week we'll all be posting our Q1 Update. I don't know about the rest of you, but mine is going to be very ugly!

[dvalley]

We can quarantine our updates until further notice.

[The Cosmic Avenger]

Quote:

Originally Posted by brokrken In a little over a week we'll all be posting our Q1 Update. I don't know about the rest of you, but mine is going to be very ugly!

Meh, if I can't travel and I can't go out to fancy dinners, I could get by on a lot less.

Which is perfect, because now I have a lot less!

[brokrken]

Quote:

Originally Posted by brokrken Net Worth Excluding Real Estate and Personal Property 06/20/2017 - $1,205k 10/02/2017 - $1,273k - Nice little quarter, I would say. 1/1/2018 - $1,354k - Still headed in the right direction. Let's see what 2018 has to offer. 4/1/2018 - $1,398k - Smaller increase this quarter as the market hasn't helped. Luckily my contributions more than made up for the lack of market returns. 07/02/2018 - $1,461k - Q2 was similar story to Q1. Moving in the right direction though. 10/01/2018 - $1,537k 01/01/2019 - $1,328k - Ouch, what a terrible December 04/01/2019 - $1,520k - Q1 got back much of what Q4 lost! 07/01/2019 - $1,576k - Nice quarter and a new high. Still chugging along. 10/01/2019 - $1,594k - While I'm way up from January. I'm not that far up from same period prior year. But, I'll keep piling it in and hope the market helps me along the way. 01/01/2020 - $1,729 - Excellent Q4 for 2019, which more than made up for Q4 2018. Here's hoping 2020 brings more of the same.

04/01/2020 - $1,453k - Wow, the last 3 weeks have been brutal. Down $276k from last quarter and $67k from last year! Also, my totals always are as of the last day of the quarter, so before the market opens on the day I list. If I would have done it after yesterday's close as opposed to before it, I would be $60k lower, in one day! Anyway, I'm sure many of us are in the same boat. I'll keep hanging on until all this madness is over. Good luck, everyone.

[The Cosmic Avenger]

I'm down about $500K since the peak, but it was $700K just a short while ago. I'd like to keep working for another 4-5 years, but if I had to I could retire now...travel is kind of out of the question for now anyway! Even if I lose my job (nothing to do with the pandemic, we knew it was a possibility last year) and don't work again AND the markets don't recover, we would be fine. We could always adjust our retirement plans. If these past few weeks have done me any good, they've at least proven that I can make do staying home and watching Netflix, as long as I can video chat with my friends!

[Exit 2024]

We are also down, as everyone else,
-$152k for Q1, went from $1,737k to $1,585k,
about -9% of overall NW or -11% of NW without RE.

At this point we are just happy to have our paychecks and that we both can work from home. We continue to contribute to all our accounts as planned... will see how that all will work out at the end...

[brokrken]

Quote:

Originally Posted by The Cosmic Avenger I'm down about $500K since the peak, but it was $700K just a short while ago.

Yeah, from peak (Feb 19) to recent trough (Mar 23), I was also down $550k! Wow, I shouldn't have just done that math.

[brokrken]

Quote:

Originally Posted by Exit 2024 At this point we are just happy to have our paychecks and that we both can work from home. We continue to contribute to all our accounts as planned... will see how that all will work out at the end...

+1000

[The Cosmic Avenger]

Quote:

Originally Posted by brokrken Yeah, from peak (Feb 19) to recent trough (Mar 23), I was also down $550k! Wow, I shouldn't have just done that math.

It's OK. Some people say not to look. Me, I remember being much less certain in 2008, but then watching the recovery, and now I feel a lot better about it. We're not there yet, but I think a lot of us will benefit from riding this out with our eyes (mostly) open.

Oh, and our total NW is down 13%, liquid assets down 20%. But we're still SO much better off than so many other people. I just keep telling myself, even if the markets never recovered AND we both lost our jobs, we could live (frugally) off of our funds.

[Exit 2024]

brokrken, curious what was your AA? looks like you are down in Q1 on your investable almost 30%, is that correct?

[brokrken]

Quote:

Originally Posted by Exit 2024 brokrken, curious what was your AA? looks like you are down in Q1 on your investable almost 30%, is that correct?

From $1,729 to $1,453 is actually a 16% drop. But, as I mentioned in a previous post the peak to trough was much higher, like the 30% you mention.

My allocation pre-meltdown was roughly:

85% Equity
5% Fixed Icome
5% Cash
5% Alternatives (we do some private equity stuff)

[WyomingLife]

I’m in for 2024. Happy to be here with you good folks, and to learn from you.

[Exit 2024]

brokrken, I see, I missed that your -$500k is from the peak.
Would be interesting to see how long it will take to recover for all of us back to that February peak, our was $1800k even for overall NW.

[brokrken]

Quote:

Originally Posted by Exit 2024 brokrken, I see, I missed that your -$500k is from the peak. Would be interesting to see how long it will take to recover for all of us back to that February peak, our was $1800k even for overall NW.

We were also at a tad above $1.8M. We'll get back there....hopefully before 2024!

[brokrken]

Quote:

Originally Posted by Exit 2024 brokrken, I see, I missed that your -$500k is from the peak. Would be interesting to see how long it will take to recover for all of us back to that February peak, our was $1800k even for overall NW.

Also, the real trough for us was a combination of some of our tech stocks (NVDA, AAPL, FB) being way, way down from the peak, as well as nearly our whole portfolio of preferred stocks being nearly cut in half for a few days.

[NgineER]

Quote:

Originally Posted by NgineER 46.3% - investments and cash only (would like to break 50%!!!) 74.2% of target when including cash flow from properties. Spending cash and some investments to rehab a property, but it will be worth it in the end.

40.0% - investments and cash only
77.6% of target when including cash flow from properties

Was lucky to change from 95/5 to 60/40 in early February, so only saw a 9% dip. Will get back in here after Q1 earnings probably.
Have kept on renovating the new property and have one unit rented, another unit in May and closing on financing next week. Whew! Can’t wait to have the cash to pay off credit cards and have the emergency fund fully funded.

None of our 10 tenants have been laid off or have had any issues or complaints about paying rent.

[brokrken]

Quote:

Originally Posted by brokrken Net Worth Excluding Real Estate and Personal Property 06/20/2017 - $1,205k 10/02/2017 - $1,273k - Nice little quarter, I would say. 1/1/2018 - $1,354k - Still headed in the right direction. Let's see what 2018 has to offer. 4/1/2018 - $1,398k - Smaller increase this quarter as the market hasn't helped. Luckily my contributions more than made up for the lack of market returns. 07/02/2018 - $1,461k - Q2 was similar story to Q1. Moving in the right direction though. 10/01/2018 - $1,537k 01/01/2019 - $1,328k - Ouch, what a terrible December 04/01/2019 - $1,520k - Q1 got back much of what Q4 lost! 07/01/2019 - $1,576k - Nice quarter and a new high. Still chugging along. 10/01/2019 - $1,594k - While I'm way up from January. I'm not that far up from same period prior year. But, I'll keep piling it in and hope the market helps me along the way. 01/01/2020 - $1,729 - Excellent Q4 for 2019, which more than made up for Q4 2018. Here's hoping 2020 brings more of the same. 04/01/2020 - $1,453k - Wow, the last 3 weeks have been brutal. Down $276k from last quarter and $67k from last year!

07/01/2020 - $1,763k - Amazing that this market has been so resilient and I am grateful for it. However, I am still expecting a W recovery, at best. All the money that was lost in Q2 is gone forever, unemployment is still extremely high and our deficits are out of control. You all may have even seen in a different thread that I have recently purchased October SPY puts with the thought that once Q2 earnings are realized and valuations are proven to be out of whack, we'll have a retest.