2030 Fire Thread- Who's in?

[hilltide]

Count me in! I'm aiming to FI/RE by 2031 at the latest. This is gonna be a great thread! Keep it up, everyone!

Welcome to the thread! Looks like you have a good plan and the perfect age to get it going. Your income is strong and LBYM will take you to the promise land.

I had an out of state rental. It became a burden. Sold it about a year ago. Will buy more rentals again when the market adjusts. They will be close to me so I can manage more closely this time. Look forward to your progress. The group on the thread is shaping up.

 

[lust4adventure]

Welcome to the thread!

Thanks! I'm so happy I found this place. It's hard to find like-minded people IRL or to discuss my plans with friends; discussing them with colleagues is inconceivable.

I had an out of state rental. It became a burden. Sold it about a year ago. Will buy more rentals again when the market adjusts. They will be close to me so I can manage more closely this time. Look forward to your progress. The group on the thread is shaping up.

I hope your plan works out. I'm still debating my real estate ideas. I'll probably put off my decision to invest in them until I've researched more, attended some conferences/workshops, spoken with experienced and successful real estate investors, etc. In the meantime, index funds/ETFs it is!

 

[lust4adventure]

Joining.I would like to retire a few years prior however who knows how the markets will treat me.

No one knows what the markets will do. Stay flexible and plan for the long term. That's my aim, anyway.

 

[FIREHacker]

I'm in! FIRE by 2030 is my plan as well. Let's do this!!

Thanks! I'm so happy I found this place. It's hard to find like-minded people IRL or to discuss my plans with friends; discussing them with colleagues is inconceivable.

Truth. It's always nice to know there are people who share the same financial goals as yourself.

Around my coworkers, I say very little about my finances or I just let them believe that I'm a perpetually broke millennial who will continue working for MegaCorp until standard retirement age or death My close friends know that I'm frugal, but I have not revealed to them my ultimate plan. Otherwise, I tell absolutely no one in person and practice stealth wealth.

 

[cooch96]

Around my coworkers, I say very little about my finances or I just let them believe that I'm a perpetually broke millennial who will continue working for MegaCorp until standard retirement age or death Otherwise, I tell absolutely no one in person and practice stealth wealth.

This is wise. I’ve gotten close to complete ostracization by letting slip my plans of ER. I Learned the hard way it is still only palatable by the mainstream in my industry for females to express this desire.

 

[micorun]

It always motivates.

 

[TimetogetSerious]

2030 is our year. I'm a brand new member to this site, although I've been lurking for a while now. Signed up primarily to join this thread and because we are getting serious about retirement.

I'm 48 years old, and my husband is 51. We have three children, but only one still at home. Husband is a state employee and will have 40 years with full pension in approximately 2030 (some factors in there including a deferred compensation program and unused leave that can be used to buy years). Current goal is to have enough in savings to match his pension amount with a 3-4% withdrawal rate (low end - 1.2 million, high end - 1.7 million). Long way to go yet, but working toward the goal. We could make it with less, but would prefer not to. Currently maxing out my 401k and close to maxing his 403b. Need to begin fully funding Roth IRAs for both of us and begin contributing to his 457B.

I likely wouldn't even be attempting this if I hadn't found this forum a couple of years ago. I've always contributed up to the employer match to my 401k at work but never thought about how much more we might need at retirement. Even though his state retirement isn't a lot of money relatively speaking, knowing it was there made us complacent. Once I found this forum, we began maxing out my 401k and saving more into his supplemental retirement and Roth IRA as soon as possible (as children finished college and left home).

Thanks Hilltide for starting this thread! I'm looking forward to following everyone's progress over this approximately 11 year timeline.

 

[hilltide]

2030 is our year. I'm a brand new member to this site, although I've been lurking for a while now. Signed up primarily to join this thread and because we are getting serious about retirement.

I'm 48 years old, and my husband is 51. We have three children, but only one still at home. Husband is a state employee and will have 40 years with full pension in approximately 2030 (some factors in there including a deferred compensation program and unused leave that can be used to buy years). Current goal is to have enough in savings to match his pension amount with a 3-4% withdrawal rate (low end - 1.2 million, high end - 1.7 million). Long way to go yet, but working toward the goal. We could make it with less, but would prefer not to. Currently maxing out my 401k and close to maxing his 403b. Need to begin fully funding Roth IRAs for both of us and begin contributing to his 457B.

I likely wouldn't even be attempting this if I hadn't found this forum a couple of years ago. I've always contributed up to the employer match to my 401k at work but never thought about how much more we might need at retirement. Even though his state retirement isn't a lot of money relatively speaking, knowing it was there made us complacent. Once I found this forum, we began maxing out my 401k and saving more into his supplemental retirement and Roth IRA as soon as possible (as children finished college and left home).

Thanks Hilltide for starting this thread! I'm looking forward to following everyone's progress over this approximately 11 year timeline.

Thanks for joining the thread! Having a pension is a beautiful thing! Sounds like you are focused and determined. You will fit in great here. Looking forward to the journey. I try and go to Jazz Fest every year. We always have a great time!

 

[cooch96]

Welcome, Serious!

 

[HI Bill]

Awesome thread! Just an FYI...I started out wanting to FIRE before I knew it had a name, back in 1998. Back then, I had less than $77K in retirement assets.

Fast forward 20 years. I paid off my first Xterra early, and paid cash for a subsequent Xterra and an RX8. I paid 25% more towards my mortgage than I had to. I increased my savings from the minimum to get the company match (6%) to ~49%. I forewent buying high-end cars and a moderate house. LBYM in a major way, except for some travel and electronics and scuba diving. Really did maintain a balance. I lucked out by being hired by and ESOP company, even though I didn't know what that was.

Fast forward to now. I've surpassed my initial financial goals, but my marriage at age 47 resulted in a delay of my retirement from age 50 to age 53. My anticipated ER year is 2019. I'm not bragging, just giving an example that it can be done!

Go for it!

 

[Never2late]

I'm in 2029,2030 is the time frame I'm at.

 

[hilltide]

Hope everyone had a great Holiday and great end to 2018! I know having several days off fired me up even more to hit my 2030 Retirement Goal. Just Finished my Personal Goals for 2019 and ready to go. Have a great week!

 

[Youngblood]

I'm aiming for 2029, but might need to settle on 2030 (hopefully not any longer). Goal is 2M, so I'm about 26% of the way there.

 

[hilltide]

Awesome thread! Just an FYI...I started out wanting to FIRE before I knew it had a name, back in 1998. Back then, I had less than $77K in retirement assets.

Fast forward 20 years. I paid off my first Xterra early, and paid cash for a subsequent Xterra and an RX8. I paid 25% more towards my mortgage than I had to. I increased my savings from the minimum to get the company match (6%) to ~49%. I forewent buying high-end cars and a moderate house. LBYM in a major way, except for some travel and electronics and scuba diving. Really did maintain a balance. I lucked out by being hired by and ESOP company, even though I didn't know what that was.

Fast forward to now. I've surpassed my initial financial goals, but my marriage at age 47 resulted in a delay of my retirement from age 50 to age 53. My anticipated ER year is 2019. I'm not bragging, just giving an example that it can be done!

Go for it!

Nice work HNL Bill. It can be done and never too late. I am sure a lot of us will have peaks and valleys along the way but the more we save, the more control we have over our lives. Are you still in HNL? I did stop and smell the roses over Christmas and went to Oahu & Kauai last month. Unbelievable! I can't wait until i can go back.

 

[hilltide]

I'm aiming for 2029, but might need to settle on 2030 (hopefully not any longer). Goal is 2M, so I'm about 26% of the way there.

Nice work Youngblood! Welcome to the thread.

 

[ckelly78z]

I'm aiming for 2027 when I will be 62. I currently will have a $1000 a month pension, roughly $2000 in SS, and 250K in my 401K. I am using this year to get back out of debt, and then will jump my 401K withdraw from current 14% to 25%. I'm hoping to triple that amount in the next 8 years, but will be just fine if I only double it. We live pretty frugal right now, and drive older used cars, the farm is paid off, and really only have a $24,000 equity loan on a new camper, and diesel Excursion.

This year is all about downsizing our fleet of older vehicles, selling a few pcs of farm equipment, and not buy all the big $$ stuff that we did last year. My son will be graduating from UNOH as a diesel tech, and my daughter will be getting married (we've already incurred most of the costs with that). We are hoping to see some light at the end of the tunnel, and NOT have it be a train.

2030 I will be 65 YO, and really hope i'm not still working !

 

[TDub]

It’s fun to see a thread with our kind of timeline! Shooting for 2028 but may end up being ‘30 for DW. Let’s see what happens!

 

[Brianeboatman]

Greetings to all those jumping in on the 2030 party and really appreciate hilltide for kicking this off! Question for the group - for those with little ones, what is your approach for college savings? My wife & I both had to pay 100% of our way and not going to lie - it sucked and it was hard and that was 25+ years ago when college was a heck of a lot cheaper. Anyway, we do not want our little one to have to go through that, but trying to strike a balance on how much to save? where to save - right now, everything is in a 529 plan and our initial goal was to plow enough for 4 years of instate public U. It is tough to project where a young elementary kid is going to end up...ha.ha. So, what are you guys doing?

We are making our kids pay, encouraging good grades so they are considered for scholarships. My wife and I paid for schooling, and I think it made us appreciate the education a bit more. I could be wrong, of course. Also, we are encouraging community colleges for the first two years and possibly the military (GI Bill). Also, some kids have no interest in college. My wife and I have talked about paying for books and maybe some dorm costs, but tuition is up to the kid!

Lastly, we have set a goal to be FIRE by age 51. The college funds aren't allowed to conflict with this goal. Cold hearted? Maybe.

 

[TDub]

Greetings to all those jumping in on the 2030 party and really appreciate hilltide for kicking this off! Question for the group - for those with little ones, what is your approach for college savings? My wife & I both had to pay 100% of our way and not going to lie - it sucked and it was hard and that was 25+ years ago when college was a heck of a lot cheaper. Anyway, we do not want our little one to have to go through that, but trying to strike a balance on how much to save? where to save - right now, everything is in a 529 plan and our initial goal was to plow enough for 4 years of instate public U. It is tough to project where a young elementary kid is going to end up...ha.ha. So, what are you guys doing?

Transferring our GI Bills to the kiddos. If their undergrad costs exceed what’s covered by the GIB then they’re on the hook. My college was paid for but I still applied myself so I know not every kid will be a slacker if it’s covered. DW has zero help with her undergrad costs and she was stressed the whole time. Would like to strike a happy balance if possible.

 

[Machine99]

Pencil me in for 2030 (if not sooner!!)

 

[NgineER]

I'll hop on this thread as well. This was my original goal, retire by age 55. Looking to take the plunge earlier. Also joined the 2024 thread... Hoping that 2024 works, but that is certainly pushing it.

 

[SMiller]

I'll join in here as well! Although not early, I'm hoping to retire right when I hit 59.5 in 2030. Didn't really get serious about finances until a job scare last year, but have always contributed to my retirement accounts and they've done pretty well. My wife has been a stay at home mom, so we've lived on one income for a couple decades. We have three kids, two currently in college. Working towards making 2030 happen while trying to allow for living some life now since you never know what's around the corner. Looking forward to watching everyone's progress!

 

[Love This Community]

I’ll join the class of 2030! Here’s a recent post /update from my thread.

April 2019 update

Here's our current financial status

April 2015: Tax deferred accounts: $210K
May 2017: Tax deferred accounts: $351K
Dec 2017: Tax deferred accounts: $411K
Apr 2019: Tax differed accounts: $490K

April 2015: Taxable accounts: $20K
May 2017: Taxable accounts: $28K (ned to do a better job pumping in more into brokerage account)
Dec 2017: Taxable accounts: $30K
Apr 2019: 55K

April 2015: Property (overseas): $120K
May 2017: Property (overseas): $150K (picked up another property)
Dec 2017: Property (overseas): $150K
Apr 2019: liquidated one property and used money towards partial down payment. Value of remaining properties is still at 150K
Note: Above properties do not generate income and I'm counting on land value being appreciated in a developing country.
Apr 2019: Might be selling one in the coming year or two - DONE!

April 2015, May 2017, Dec 2017, Apr 2019: Emergency Fund to cover 1 year of expenses.

May 2017, Dec 2017: Cash - 60K (Planning on purchasing a single family home while keeping our current coach home for renting out)
Apr 2019: purchased single family home in 2018. $120K down payment.
Rented our coach home as originally planned.

May 2017:No loans except for mortgage (~130K).
Dec 2017: No loans except for mortgage (~123K).
Apr 2019: single family home (bought in 2018) outstanding mortgage $448,000
Rental property (coach home) outstanding mortgage $109,000
Current coach home approx value: ~ 200K.

Other updates:
I was between jobs from Jan - May 2018 ( was unwilling to take a different role at megacorp which would require me to work in an area that I am not passionate about and would have been miserable). Job market was good and I had a couple of offers to chose from. Though There was a 4-month gap, I am glad I waited and accepted the right offer. I am very happy at my current megacorp.
Wife’s career is taking off and we are doing good income wise.
Property Taxes for our new property are super high. $18,500 annually but we knew what are getting into. Hope it doesn’t turn out to be a foolish mistake in the long run.
Current home value : 620K

 

[cooch96]

Just hit a major milestone with the rising market yesterday! I'm going to take some time off this Autumn and I plan on getting a part time gig (semi-FIRE) in the next few years. Full FIRE by 2030 is looking very possible, assuming I live that long of course.

 

[EA-Sports]

I’ll join...2030 sounds like a good round number.

I saw some folks are about 25-30% from their target NW. With 2030 being only 11 years away other than going aggressive and maxing our your 401k and Roth IRA what else do others plan to do to bridge the gap from 25-30% to 100% in 11 years. Curious to learn from others here. Thanks.