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snodog 03-10-2007 05:00 PM

Hi, i'm new here
 
First off I want to say how glad I am to have found this site. I 've learned so much here in just the 2 weeks or so that i've been lurking. I'm so jealous of some of you who have already fired. I'm 38 and my wife is 35 and if everything goes as planned (nothing ever does! :laugh:) we will fire in our early 50's. I had never dreamed this was possible until recently. We started to get serious about our finances last March and have saved 28K since then which is almost 1/2 of our income. We have no debts besides a 43k mortgage which will be paid off in 12-13 years right in time for retirement. Right now we have 94k saved towards retirement which isnt much but we had a few bad breaks. About 8 years ago my wifes company filed for bankruptcy and we lost nearly everything when the company stock took a dump (at that time they would only match in co stock :( ). Then when I was 30 I was hospitalized and later diagnosed with schizophrenia. I'm doing well now as long as I take my medication but i'm still only able to w*rk part time which somewhat limits our income. I think getting health insurance is going to be our biggest problem. When I told my wife that she may be able to quit when she's 50 she didnt say too much. I think she thinks I'm delusional again! :laugh:

Nords 03-10-2007 10:03 PM

Re: Hi, i'm new here
 
Welcome to the board, Snodog.

Have you already run your expenses and your planned savings through FIRECalc?

snodog 03-11-2007 06:25 AM

Re: Hi, i'm new here
 
Well if everything goes according to plan we will have saved up 2 million by the age of 53. At that age my expenses will be around 70k. That is figuring on health care costs for both of us of 10k in todays $. Firecalc gives 100% success of that money lasting to we are 95 with a 2/3 ratio in stocks. When SS kicks in that will probily be extra spending money unless our portfolio does really horrible.


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