Where will you be in five years?

[rodi]

I also wasn't here 5 years ago - but want to get in on it for the next 5 year predictions...

5 years from now I'll be 56 and I sure as heck had better be retired.

I predict my husband will retire Jan or Feb of 2014.

I predict I will continue to work till I am laid off or turn 55 - whichever is first.

I predict my employer of the past 18 years will have been bought/sold/acquired/spun off at least 3 more times. (I'm on my 7th corporate name on my paycheck... and 8th has been announced but deal hasn't closed yet - with continuous employment for 18 years.)

I predict our house will be paid off when hubby retires. (It's down to a manageable lump sum payoff now... but cash flow and taxes suggest it's better to wait.

I predict I'll be maxing my 401k and catchup 401k till I'm no longer employed.

I predict my kids will still be driving each other and me crazy... but one will be preparing to leave for college. (I'm old to have kids so young.)

 

[jon-nyc]

5 years ago I would have guessed this year to be my retirement year, and it will be.

I would have thought we'd retire to Mexico, that's not in the cards as we have a son now which changed our plans.

5 years from now I'll be 4.5 years into retirement, spending lots of time driving a kid around to various activities, playing the piano a lot, and volunteering in some meaningful ways.

It makes me smile to think about it.

 

[Huston55]

I didn't know of this forum 5 yrs ago. But, I would have said that FIRE is my primary financial goal and that I plan to FIRE before 60; how much before being portfolio dependent.

In the past 5 yrs, I've changed jobs and moved (same MegaCorp), and am still on track to FIRE before 60. Although, I can say I wish I was already there. Soon though, very soon.

So, playing the prediction game...5 years from now:

I will have been retired ~ 3 yrs
Living on the east coast of Florida
FI & collecting a small pension but not yet collecting SS
Playing golf 3+ times/week
Walking on the beach regularly with DW and, hopefully, DCorgi
Will have learned to sail

 

[REWahoo]

I'm a non-participant on this thread as I have trouble figuring out where I'll be in five hours, much less in five years. But I thought it might be interesting to use this thread as a place holder for this guy's prediction on where the market will be four years from now:

What does Robertson’s model project for the next four years? A total-return of 8.2% annualized, which is slightly below the two-decade average of 8.5% — and two to three percentage points lower than the market’s return over the last century of 10% to 11% annualized.

Four years ago he predicted the market would show annual returns of 20% and he was wrong - but not by much. Using the Value Line Arithmetic Index the market averaged 23% annually in the four years ending Jan 13. Pretty darned close.

Where stock market will be in January 2017

 

[NW-Bound]

Lemme see...

A return of 8.2% means after 4% for me, and 2% or maybe 3% for inflation, my portfolio still grows a bit each year at around 1% to 2%. At that rate, how do I get to the decamillionaire level like the most optimistic lines in FIRECalc? Then, on top of that, FIRECalc results are in today's dollars.

And then, the above would require me to be 100% in equities too. Darn, maybe I am too greedy. Better cut back my expectation...

 

[Meadbh]

I would be very happy with a consistent return of 8.2% if inflation does not rise!

 

[W2R]

I would be very happy with a consistent return of 8.2% if inflation does not rise!

+1

I'd be deleriously happy with that kind of return over inflation. Despite historical returns, for some reason I have never felt confident in returns that high.

 

[freebird5825]

Hmmm...in 5 years, I will be 59.333 years old.

Fastforward to 2018...

I have collected my deferred FERS retirement for 3.333 years.
I am .222 months away from being able to play with my Roth IRA.
I am 2.666 years away from collecting SS.

Mr B and I are established snowbirds, with a spacious apartment or condo instead of still living in my house. I no longer want to keep up with the maintenance and repairs and mowing the lawn (1.25 acres worth) at age 59.333.

I still have my 2005 Mustang and powerboat, except the boat storage guys are completely on contract to launch and retrieve it at the end of the season. I no longer have a towing vehicle, i.e did not buy another one 5 years ago.

My faithful 1992 Honda Accord is still running.

 

[W2R]

In five more years....

F and I will still be in New Orleans, living in our respective homes.
We will still be thinking about moving.
I will have finally put 25,000 miles on my 2009 Venza. He will be driving a used small pickup with good gas mileage.
Retirement will still be wonderful and such fun.

Beyond that, I honestly cannot imagine what life has in store.

 

[Letj]

I missed the prediction five years ago but want to get in for the next five years. I predict:
-Will have a total of 34 rentals
-Should have stockmarket investments of $1.5MM
-After 22 years at the same job, should have enough to retire if mega corp decides to give a package
-Still able to afford private school
-Beach property paid off or substantially paid off

 

[Ronnieboy]

This will be a good time for me to post my goals anonymously on the Internets

In five years, I'll be 50 and DW 53, I would be 1/2 way towards goal of ESR at 55 and going to PT w*ork. Youngest will be 18 y.o. and graduating from HS. The three older children will be self sufficient and not dependent on Mom and Dad. This will help us achieve these financial goals:

Have $400k in taxable dividend account.

Continue to max out 401(k) and Roth's (assuming back door conversion remains open).

Have only primary mortgage as debt, rental either sold or paid off and any and all other debt gone.

Personal:

Be 200 lbs lighter and maintaining that weight ---> currently working on this goal with a personal trainer and diet.

 

[eyeonFI]

I'm one who missed this 5 years ago, but I think I am roughly where I would have predicted both financially and personally. So I'll try for 5 years from now:

-I'll be 46 and will have been retired for about 3-12 months.
-I'll be in the same house, or may have moved about 30 miles north for a better school district (depending on how it goes when my oldest hits 1st grade & public school in 2014). If I haven't moved yet, I will be looking to move (only reason for my current location is a 5 minute commute).
-I'll be spending the 6 hours/day that the kids are in school still decompressing from work, catching up on all the household things that I've let slide pre-retirement, enjoying a regular exercise routine, cooking slightly more than I do now, and enjoying some good books.
-I'll be spending the evenings/weekends enjoying stuff with my kids (instead of trying to occupy them enough so I can catch up on w*rk/house stuff).
-I'll wake up every morning delighted I do not have to worry about w*rk.

That's the plan (or perhaps I should say the fantasy).

 

[Sarah in SC]

So, playing the prediction game...5 years from now:

I will have been retired ~ 3 yrs
Living on the east coast of Florida
FI & collecting a small pension but not yet collecting SS
Playing golf 3+ times/week
Walking on the beach regularly with DW and, hopefully, DCorgi
Will have learned to sail

I've got a few other predictions for you, mister!

 

[lhamo]

If all goes according to plan and the asset base continues to grow steadily:

1) I will have finally convinced DH we have a big enough cushion so that we can both quit our current positions and either retire or (at worse) semi-retire.

2) We will have sold our condo in China and relocated to the US, most likely purchasing a single-family home somewhere within a 30 minute drive of my family.

3) We will be pleased to have health insurance at a reasonable cost -- the Affordable Care Act and the establishment of the state health insurance exchanges is what is in many ways making this plan viable

4) If our decision is to semi-retire, I will either have found a decent job in conjunction with the move, or we will have started our own home-based business.

5) Kids will be doing well in new schools that we don't have to pay an arm and a leg for.

6) Life will be pretty darn good!

 

[chris2008]

DH will be 66 and I'll be 60, both retired in 7/2013.
We have kept health up and even improved a bit, exercising regularly.
We will have travelled a lot. Per year one trip longer than 4 weeks, one long bike tour and smaller trips whenever something too good to pass pops up or the weather is right or... or... or...
We have used 20% of our savings to bridge the gap till my pension kicks in (at 60,5).
Life is good and will be good then.

 

[Sniggle]

I'll play, although 5 years from now I am probably going to be in pretty much the same position I am in today. In 5 years...
- I will be just turning 54, and my DW will have turned 48 (she will not like that)
- I will be still working for megacorp
- I will be 1 year from qualifying for early retirement at megacorp, although taking an out before 60 really will not be an option
- My son will be 15.5, and I will have a better idea what kind of college material he is, and how much it will cost me
- My 401K should be around $1.5 mil, and if so I will be on track for FIREing at 60
- My Roth IRA should be around $160,000
- My mortgage will still be with me, with a balance due of about $260,000
- I will be retired from the Army, missing my drill pay every month and counting down the days until it kicks in again at 60
- The government will still be running trillion + $ deficits, and inflation will finally be roaring to life

 

[ShortInSeattle]

In 5 Years......

I'll be 39, and DH will be 41.
I'll have my first gray hair. DH will have less of his.
We'll be in the same jobs, DH at Megacorp, me self-employed.
Our invested assets will be about 1.3 Mill, and our net worth will be about 1.6 Mill.
Our beloved cats will have passed away.
My mom will be thinking about retiring.
My father in law may be ready for an assisted living community.

Those are my predictions, but if we manage to stay healthy, happy, and gainfully employed, there will be little to complain about.

SIS

 

[deserat]

I miss Jarhead.

Yup - and a few others - wondered what happened to them.

As for five years from now - wow - I do have plans, but when I look back five years ago, I'm was not good at predicting where I am now. The only constant has been being as frugal as possible while enjoying life and getting as many experiences in life as possible. The other amazing thing is the time value of money (so far!) Every penny saved has earned or been worth much more than that which I could have purchased with it outside of what I truly needed. I.e., my net worth is a lot higher than I thought it would be at any time....taking care of the pennies and dollars has had me gain many more of them.

 

[scrinch]

I must have missed this thread 5 years ago. At the time I was (due to closure of the office where I w*rked) semi-RE, doing PT consulting and thinking about full-time RE. Well, my DW had other thoughts...to her, retirement meant irrelevance and decrepitude...and so after a few more years of consulting, two years ago I climbed back in the MegaCorp saddle and am w*rking fulltime with DW and son overseas. I'm definitely not where I expected to be!

Five years hence, I expect to be aligned with DW that RE brings freedom, growth opportunities, and chance for increased relevance. And we will be watching our last son graduate from college from our retirement home, planning a hiking trip somewhere in Europe, volunteering a couple of days a week at the local charity of our choice, and eating fresh vegetables from the garden year-round!

 

[DesiGirl]

5 years from Now :

* I would continue to be Happy , Healthier & Alive .. married to same person
* Since we'll be alive means we'll be 45+ in age.
* We must have moved into our house (off-course paid off) and rental property would start throwing in good income.
* DH must have already retired with retirement portfolio well in comfort zone.
* DD would have gotten admission into world class Engg. institute (IIT) and would be on track to complete her graduation well within our education budget of 25K. DS must be on track to get there as well since he is already getting 2 digit ranks in standardized tests at All India level.
* Would have taken our post retirement celebration grand trip to Australia and explored lots of remote villages in Himalayas.

May we all realize what we dream of and may we all have sense to prioritize and dream right..

-DesiGirl

 

[Brett_Cameron]

5 Years ago: The major project I was working on was terminated. This project would have lasted 10-15 years. I had been idly guestimating retirement at age 58-59 using very unrefined expense numbers and projected pension payouts. Estimate did not show feasible retirement until age 58-59. Flashforward to 2011: MEgacorp is finally disbanding the remaining staff after the 2008 project termination, I got serious about estimating and projecting expenses and income, then FIRE'd with pension. Small market dip in fall 2011 scared me into looking at which contingencies to implement to reduce spending. 2012: Windfall "part time retirement job" allows much added margin.
Now: things are tracking nicely, exceeding projections.
5 years from now: DS#2 finishing college, DS#3 in 9 th grade. Hopefully things still tracking nicely. Maybe doing some part time work, maybe not. Keeping an open mind and remaining advertant.

 

[timeasterday]

5 years from now:

- I'll be 48, that's the only thing I know for sure
- I hope to be just a couple of years away from paying off the house
- My company's JV agreement expires so I hope I still have a job
- I hope to be healthy and running half-marathons like they were easy

 

[Comspec2600]

Current I save 880 bi-weekly 21,120 a year in to the Roth TSP, including the government match at my current age of 28. Or 1416 monthly not including the match. In 5 years I hope to have atleast my annual salary saved towards retirement. I am still pretty young and can take advantage of the compounding interest. What do you all think and where do you all feel that will place me money wise, with no changes to saving at my time of retirement?

-Clark

 

[MissGina]

I will be 37 in 5 years. I am currently able to save $30k a year, but this year I have $14k of student loans left to pay off and I need to buy a new car for around $10k. So I better have $220k saved 5 years from now. I have around 100k already saved in mutual funds, retirement accounts and a few electric company stocks.

I don't think I will have kids, but the current boyfriend has two already and wants another (sigh). Either way still not going to retire until 53 due to the possibility of having kids and will be staying home with them if I do.

Can't wait to return to this thread and see how things turn out. Especially the kid part.

 

[Huston55]

Current I save 880 bi-weekly 21,120 a year in to the Roth TSP, including the government match at my current age of 28. Or 1416 monthly not including the match. In 5 years I hope to have atleast my annual salary saved towards retirement. I am still pretty young and can take advantage of the compounding interest. What do you all think and where do you all feel that will place me money wise, with no changes to saving at my time of retirement?

-Clark

Comspec-

Not enough info in your post to answer your question. But, below is a great link that answers this question for multiple savings scenarios. You can also do searches on this forum for similar subjects.

How many years does it take to become financially independent?

Also, suggest you go to the "Hi, I am..." Forum and introduce yourself. There's a sticky with instructions.

Welcome to ER.org!