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09-25-2019, 09:51 PM
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#21
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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Quote:
Originally Posted by kgtest
Wow! Thanks for the update. You and Audreyh are awesome for sharing such a long journey and remaining engaged on the site the whole time!
Amazon wanted to hire me but after my first initial interview I was convinced they just simply wanted to hire ANYONE and EVERYONE.
Why did you settle on AL for the units?
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I chose AL for the most recent purchases because that's where the numbers worked for me at the moment. I own properties in Utah, Arizona, Ohio and Alabama. I bought two 4-plexes last year and really appreciated the performance I got out of them. So I wrote letters to the owners of the other 18 in the same culdesac. I got two responses and bought those two most recently.
Quote:
Originally Posted by Nords
Congratulations, LeBlanc. I love it when a plan comes together.
Pace yourself. I’d give it a couple years before you decide whether to make any other major life changes...
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It's crazy to look back and to see the plan actually worked. I started teaching my Airmen the basic fundamentals of financial management, investing and home buying. Where else were they going to get it?
Good advice on pacing myself. It's hard to come off the full throttle career path and "relax", take it in and let things settle. I'm working through it.
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09-25-2019, 09:51 PM
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#22
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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Quote:
Originally Posted by JDARNELL
Add more Harleys to the fleet. I think your gonna find a lot of ways to add to “enough”. It’s hard to turn off but enjoy retirement.
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Then I'd need an even bigger garage.
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02-01-2021, 01:56 PM
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#23
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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497 Days since my last update.
I'm now 42 years old. As a reminder, I retired from the USAF in April of 2019, took a job with Amazon but left after 2 months. About 9 months later in March of 2020, I accepted a position with a large defense contractor as a Logistics Engineering Lead. It’s a great company with a good compensation package and keeps me busy while my wife works…which isn’t for much longer, for both of us.
I got married in October of 2020 in Cancun.
I've still added nothing to my TSP account and the current value is $151,000 (up 15.2% from last update). I haven't added to my Roth IRA either and its current value is $98,200 (up 37%). When I started my new position last March, I opted in to the company 401K plan and I contributed enough to get the maximum match amount. Today that account has $15,800. Therefore, my investment accounts total $265,000 (up 34% from last update). I will leave these alone until qualified retirement age.
In 2020, I purchased another 4-plex in Alabama and sold a duplex. I currently have 10 investment properties (25 doors) plus a primary residence. The rental properties bring in $194,000 per year in gross income. Net cash flow is right around $6,000 per month or $72,000 per year.
I still have the 2004 GMC Sierra, 2008 Harley Davidson Street Glide and the 1968 Chevelle, all owned outright. I did not buy an Audi or BMW as I previously mentioned I might….but instead purchased a 2014 VW Passat TDI, with cash, of course.
My current net worth is $1.82M (up 34%/$600K from last report). It’s crazy watching the net worth grow the way it is, especially over the last year. The lion’s share of this growth is from 401K and IRA earnings, property appreciation and mortgage pay downs. Plus a good portion of continued savings contributions.
I still collect a modest pension from the Air Force which is approximately $44,000 net per year. I also collect disability of $37,000 net per year (which is also tax free). The net cash flow on my rental properties is just about $72,000. My JOB currently nets $76,000 per year. One additional thing I did beginning in 2020 was I rented my home via Airbnb. I was able to do this because I started living with my girlfriend at the time, now my wife. The results were pretty surprising. I earned $41,000 in net income through Airbnb last year. So my total net income (active and passive) came to right around $270,000 while my passive income is $194,000. I have about $175,000 cash in the bank.
One component I never really tracked over the years have been my recurring expenses. But, I will say they have mostly remained steady, with the main fluctuation being housing costs. Currently, my monthly expenses come to $3800. This includes mortgage, phone, gym, internet, insurance (auto, medical), electric, water, gas, pool service, trailer storage, HOA, gasoline and groceries.
Also, health insurance costs are pretty minimal. We are covered under Tricare for medical for me and the family. I get free dental care but will be choosing a dental plan soon once the wife leaves her position as she’s currently covered under her employer’s plan.
In a few months, both the wife and I will be exiting the workforce and moving to Utah. The plan is establish a new pattern that begins with no longer waking up to sign-in to a JOB. We don’t know exactly what we will do, but we’ll figure it out.
For those of you new to this thread, I began this path to FIRE 24 years ago when I was 18 years old. As I’ve tracked my progress and my goals over the years, you’ll see that I’ve accomplished some and fell short of others. One thing remained constant though, and that was my commitment to being financially independent and retiring early.
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02-01-2021, 02:04 PM
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#24
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,029
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Quote:
Originally Posted by LeBlanc
497 Days since my last update.
I'm now 42 years old. As a reminder, I retired from the USAF in April of 2019, took a job with Amazon but left after 2 months. About 9 months later in March of 2020, I accepted a position with a large defense contractor as a Logistics Engineering Lead. It’s a great company with a good compensation package and keeps me busy while my wife works…which isn’t for much longer, for both of us.
I got married in October of 2020 in Cancun.
I've still added nothing to my TSP account and the current value is $151,000 (up 15.2% from last update). I haven't added to my Roth IRA either and its current value is $98,200 (up 37%). When I started my new position last March, I opted in to the company 401K plan and I contributed enough to get the maximum match amount. Today that account has $15,800. Therefore, my investment accounts total $265,000 (up 34% from last update). I will leave these alone until qualified retirement age.
In 2020, I purchased another 4-plex in Alabama and sold a duplex. I currently have 10 investment properties (25 doors) plus a primary residence. The rental properties bring in $194,000 per year in gross income. Net cash flow is right around $6,000 per month or $72,000 per year.
I still have the 2004 GMC Sierra, 2008 Harley Davidson Street Glide and the 1968 Chevelle, all owned outright. I did not buy an Audi or BMW as I previously mentioned I might….but instead purchased a 2014 VW Passat TDI, with cash, of course.
My current net worth is $1.82M (up 34%/$600K from last report). It’s crazy watching the net worth grow the way it is, especially over the last year. The lion’s share of this growth is from 401K and IRA earnings, property appreciation and mortgage pay downs. Plus a good portion of continued savings contributions.
I still collect a modest pension from the Air Force which is approximately $44,000 net per year. I also collect disability of $37,000 net per year (which is also tax free). The net cash flow on my rental properties is just about $72,000. My JOB currently nets $76,000 per year. One additional thing I did beginning in 2020 was I rented my home via Airbnb. I was able to do this because I started living with my girlfriend at the time, now my wife. The results were pretty surprising. I earned $41,000 in net income through Airbnb last year. So my total net income (active and passive) came to right around $270,000 while my passive income is $194,000. I have about $175,000 cash in the bank.
One component I never really tracked over the years have been my recurring expenses. But, I will say they have mostly remained steady, with the main fluctuation being housing costs. Currently, my monthly expenses come to $3800. This includes mortgage, phone, gym, internet, insurance (auto, medical), electric, water, gas, pool service, trailer storage, HOA, gasoline and groceries.
Also, health insurance costs are pretty minimal. We are covered under Tricare for medical for me and the family. I get free dental care but will be choosing a dental plan soon once the wife leaves her position as she’s currently covered under her employer’s plan.
In a few months, both the wife and I will be exiting the workforce and moving to Utah. The plan is establish a new pattern that begins with no longer waking up to sign-in to a JOB. We don’t know exactly what we will do, but we’ll figure it out.
For those of you new to this thread, I began this path to FIRE 24 years ago when I was 18 years old. As I’ve tracked my progress and my goals over the years, you’ll see that I’ve accomplished some and fell short of others. One thing remained constant though, and that was my commitment to being financially independent and retiring early.
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Awesome update man! I love seeing all the different paths to FIRE! Being a USAF veteran, I am always interested in these especially. I myself was in and out as a 3CO but still use that veteran's discount
approaching 40 there is no way I will achieve the doors and values of your accounts, you all are well on your way to owning your future 110% super inspiring, nicely done!
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
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02-01-2021, 02:06 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Oct 2007
Location: Willamette Valley, Oregon
Posts: 1,979
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Quote:
Originally Posted by LeBlanc
497 Days since my last update.
I'm now 42 years old.
My current net worth is $1.82M (up 34%/$600K from last report). It’s crazy watching the net worth grow the way it is, especially over the last year. The lion’s share of this growth is from 401K and IRA earnings, property appreciation ......
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Congratulations on your early retirement and your financial position. And on the diversified sources of your income. Nice position to be in.
I would just comment on the "crazy" growth in equity investment positions over last couple of years. I do believe the stock market is in overvalued territory and due for a substantial correction. I myself am taking any "surge" opportunities that present themselves to lighten up on my own equity positions. In other words, I think this historically long bull market (what, going on 11 years now, or maybe longer?) is living on borrowed time. Don't know what will set off the correction, but a substantial one is overdue. YMMV
__________________
Dreams Worth Dreaming are Dreams Worth Planning For. I Spent a Career Planning for Early Retirement.
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02-03-2021, 09:23 AM
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#26
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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Quote:
Originally Posted by RetireeRobert
Congratulations on your early retirement and your financial position. And on the diversified sources of your income. Nice position to be in.
I would just comment on the "crazy" growth in equity investment positions over last couple of years. I do believe the stock market is in overvalued territory and due for a substantial correction. I myself am taking any "surge" opportunities that present themselves to lighten up on my own equity positions. In other words, I think this historically long bull market (what, going on 11 years now, or maybe longer?) is living on borrowed time. Don't know what will set off the correction, but a substantial one is overdue. YMMV
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I couldn't agree more. This isn't sustainable for the "long term". Being that I'm still over 20 years away from even considering drawing any of the equity funds, I suspect I'll just leave them where they are. I'm not much for active management of those funds as they are fairly diversified....albeit all in small, med and large cap stock funds.
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02-03-2021, 09:24 AM
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#27
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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Thank you very much. All we can do is keep focused on our goals and make sure our actions align with effective execution.
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02-03-2021, 12:43 PM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2015
Posts: 5,800
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Congratulations on all fronts--financial, personal(marriage), and upcoming retirement.
Setting goals and planning how to meet them from age 18 is impressive!
IF children are in your future, you will never run out of ways to spend your money! However, you will also experience great joy.
__________________
Give a Man a fish, he will eat for a day.
Teach a Man to fish, he will eat for a lifetime.
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02-03-2021, 12:50 PM
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#29
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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Quote:
Originally Posted by pacergal
Congratulations on all fronts--financial, personal(marriage), and upcoming retirement.
Setting goals and planning how to meet them from age 18 is impressive!
IF children are in your future, you will never run out of ways to spend your money! However, you will also experience great joy.
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Thank you for the kind words.
Children have never been part of the plan and that won't change. The closest I'll get to that are my step-children from my recent marriage. They are 17 and 19. There will be some expenses with regards to them for sure, but will be fairly minimal and easy to manage.
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02-03-2021, 01:03 PM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Congrats on all the hard work, it appears to have paid off in so many ways!!!
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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02-09-2021, 10:24 AM
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#31
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 62
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Quote:
Originally Posted by ExFlyBoy5
Congrats on all the hard work, it appears to have paid off in so many ways!!!
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Thank you very much.
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02-09-2021, 11:33 AM
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#32
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: 5-sided building
Posts: 1,183
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Nice work LeBlanc! Your real estate empire is paying off quite well!
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02-09-2021, 03:03 PM
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#33
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Thinks s/he gets paid by the post
Join Date: Jun 2017
Location: Western NC
Posts: 4,607
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An amazing story!
I hope to see my kids stay in until retirement...though they will be closer to 50 than 40 when eligible.
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