Nice work and congratulations! What an accomplishment
2030 Fire Thread- Who's in?
- Thread starter hilltide
- Start date
One month later and my invested assets tripped over the $1M line! Total NW is around $1.4M. DW loves her new part time job and may never work FT again. So, all good news this week.
I'm starting to loosen up the purse strings a bit. I've coveted a personal swimming pool for almost 2 decades and I think this summer is the year, but I also need a new roof, a proper desk for the home office, and the furnace is getting old.
Fingers crossed. Let's see what the future holds.
I'm starting to loosen up the purse strings a bit. I've coveted a personal swimming pool for almost 2 decades and I think this summer is the year, but I also need a new roof, a proper desk for the home office, and the furnace is getting old.
Fingers crossed. Let's see what the future holds.
As a quick update, getting close to the 7-figure club in my personal 401K account, just 1 more good market day away! Pretty crazy how fast it can accumulate, as it was just 4 years ago when my account hit $500K. Including my DW's retirement funds we are close to $1.4M total and getting real close to $2M in net worth. Most of our funds are in tax deferred, but starting to switch some over to Roth and are doing quite a bit of after-tax investing now too. 2030 is still a very realistic target (I will be 56 at this time in 2030)
livingalmostlarge
Recycles dryer sheets
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- Feb 8, 2014
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- 334
Hello I have always said to people 2034 when my DK2 finishes college but she is done high school at 2030. So 2030 it is. DH is 43 and I am 41. I'm a bit embarrassed by what I think I need by 2030 so I'm not sure I should post it. We're doing well but DH is leaving his job and starting a new job which if it works out we will fire in 2 years.
2034 is 57 for DH and 55 for me. That is not a ridiculous time frame. But 2030 would put us at 53 and 51. I am writing this because I am not sure my DH will go along with FIRE before the kids finish college.
2034 is 57 for DH and 55 for me. That is not a ridiculous time frame. But 2030 would put us at 53 and 51. I am writing this because I am not sure my DH will go along with FIRE before the kids finish college.
Free2030
Dryer sheet wannabe
Another 2030'er!
As my user name indicates, 2030 is our goal also. I will be eligible for a pension and health insurance by the end of 2030 so the timeline is fixed. Amazingly, like everyone else, our goal is also $2MM. Currently $870K in tax-deferred and taxable accounts and about $150K in home equity, but we don't plan to retire here, so no desire to pay it off quickly. Will just let it ride until we RE and move to the location of our dreams (TBD). 2 kids, 2 and 5, who will still be in school when we RE.
We are not a high-income family, and total income never exceeded $130K, so we are used to living not extravagantly (not exactly frugal either). With 2 kids in daycare it's been pretty tight. Now at least one of them will go to school (COVID permitting) this fall.
It seems that if we save a reasonable amount a year ($30K-40K), and the market performs as usual, we should be able to reach our goal. I am trying to move my attention away from FIRE as it has been consuming me for a while -- a nice distraction from the pandemic and relentless life with 2 little kids. I took the advice from some members on this forum and decided that I should focus on the following instead:
1. Stay healthy
2. Enjoy relationships
3. Be happy (alone or with others)
4. Reasonable management of finances and household matters
Nice to "meet" everyone! 2030 will be here before we know it!
As my user name indicates, 2030 is our goal also. I will be eligible for a pension and health insurance by the end of 2030 so the timeline is fixed. Amazingly, like everyone else, our goal is also $2MM. Currently $870K in tax-deferred and taxable accounts and about $150K in home equity, but we don't plan to retire here, so no desire to pay it off quickly. Will just let it ride until we RE and move to the location of our dreams (TBD). 2 kids, 2 and 5, who will still be in school when we RE.
We are not a high-income family, and total income never exceeded $130K, so we are used to living not extravagantly (not exactly frugal either). With 2 kids in daycare it's been pretty tight. Now at least one of them will go to school (COVID permitting) this fall.
It seems that if we save a reasonable amount a year ($30K-40K), and the market performs as usual, we should be able to reach our goal. I am trying to move my attention away from FIRE as it has been consuming me for a while -- a nice distraction from the pandemic and relentless life with 2 little kids. I took the advice from some members on this forum and decided that I should focus on the following instead:
1. Stay healthy
2. Enjoy relationships
3. Be happy (alone or with others)
4. Reasonable management of finances and household matters
Nice to "meet" everyone! 2030 will be here before we know it!
Retire_2031
Confused about dryer sheets
- Joined
- Feb 10, 2021
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- 3
Thanks for starting this thread. Planning to retire in 2031 @ 59.
livingalmostlarge
Recycles dryer sheets
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- Feb 8, 2014
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As an update DH jumped ship and started a new job. New budget. It's an interesting transition to living on what I think would be our FIRE budget. Has it worked? Yes. But I think if we weren't saving for "retirement" it would be really comfortable. We have enough to fire now if we lived on this budget I believe.
teetee
Full time employment: Posting here.
- Joined
- Jul 11, 2019
- Messages
- 679
I would like to join as well. Tax advantaged accounts (including 529 and HSA) is around 390k. The rest is about 455k. My goal is to have 4MM by the end of 2030. I am optimistic and single.
CabinLifeAt50
Dryer sheet aficionado
- Joined
- Apr 24, 2016
- Messages
- 30
Definitely on board with this one! Ideally even earlier.. Sitting with ~$900k investments and hopefully able to bring that to about $2.5 - $2.75MM. Awesome to see yearly dollar growth at this stage.. only gets better!
Exciting thread.. -
May 2029 is my date @60.. may push to May 2030 (drop dead date) for DW who is 2.6 years younger.
Currently, 1.5MM in tax deferred. 170K mortgage remaining on 600k house. Emergency funds - 2yrs. DW will have pension (need to make decision on lumpsum or annuity in 2027). Older child finishing her Bachelor's degree this year and has job offers.. younger one junior in high school.
Goal - Appr 2.8MM by 2029/30.
May 2029 is my date @60.. may push to May 2030 (drop dead date) for DW who is 2.6 years younger.
Currently, 1.5MM in tax deferred. 170K mortgage remaining on 600k house. Emergency funds - 2yrs. DW will have pension (need to make decision on lumpsum or annuity in 2027). Older child finishing her Bachelor's degree this year and has job offers.. younger one junior in high school.
Goal - Appr 2.8MM by 2029/30.
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Life_by_Fire
Dryer sheet aficionado
- Joined
- Apr 14, 2021
- Messages
- 35
Just joined to post in this thread. Recent life events and the pandemic have made me realize I'd FIRE today if I could. I hope to FIRE by 2030 at 41 with $5m. Currently have ~1.4m investable assets with plan to invest $70k/year. I plan to cash flow college costs for the 1 and 2 year old if their brokerage accounts don't cover costs. Just put an offer in on 1st rental property hoping to diversify and create an additional stream of income beyond DW and my salaries.
I'm excited to take this journey with everyone!
I'm excited to take this journey with everyone!
Hey Everyone. Hope you are doing well. This market is screaming and has been fun to watch. Like everyone cautiously optimistic but for now enjoying the ride. Thought I would give an update on my end.
I did purchase a rental property a year ago and of course my 10k renovations ended up being 45k. I was able to write half of those off. The monthly rental income is good but learned a few valuable lessons along the way. Good thing is the value of the property went up significantly. My plan is to buy 3 or 4 properties to offset some of my income in the future.
The market has pushed my assets just above the 2 Million mark not including paid off primary & rental. Work stress is enormous and still trying to find a balance. I am 46 with a 20 month old. I figure i will need to get to 4 Million to hang it up. After 3mill I will need to really take a look at if the stress is really worth the extra comfort. Until then, grinding away, focusing on the positives and the things i can control. Please continue to post. Love to hear everyone's progress and share the journey! Have a great week!
I did purchase a rental property a year ago and of course my 10k renovations ended up being 45k. I was able to write half of those off. The monthly rental income is good but learned a few valuable lessons along the way. Good thing is the value of the property went up significantly. My plan is to buy 3 or 4 properties to offset some of my income in the future.
The market has pushed my assets just above the 2 Million mark not including paid off primary & rental. Work stress is enormous and still trying to find a balance. I am 46 with a 20 month old. I figure i will need to get to 4 Million to hang it up. After 3mill I will need to really take a look at if the stress is really worth the extra comfort. Until then, grinding away, focusing on the positives and the things i can control. Please continue to post. Love to hear everyone's progress and share the journey! Have a great week!
Welcome Life by Fire. You are killing it! Hope the rental project is going well.
Ready2Save
Dryer sheet aficionado
- Joined
- Aug 12, 2018
- Messages
- 36
Thanks for the update hilltide. The markets (financial and housing) have been good of late for sure. My first post on this thread back in 2018 we were sitting at ~$800K in investments (excl home) and today we are over $1.5MM. Feels like the portfolio is now the work engine vs. our contributions. I do think the goal posts for us are moving out though...was aiming for $2MM, but think $2.5MM to $3MM feels like the "number" now. Thanks to the market returns, getting to our number isn't this faraway goal...it is still a ways down the road, but I can finally see it come into focus now.
Finance Dave
Thinks s/he gets paid by the post
- Joined
- Mar 29, 2007
- Messages
- 1,864
Funny you say that...when I was 30 I set a FIRE goal of $1.8M. But then at 40 raised it to $2.1M. Then at 55 came the ACA and the potentially high health insurance premiums we would face...so one year before we were planning to FIRE my DW suggested we hold off and save another $100k to pay for the high premiums. Then we talked about moving to a state with higher housing costs...so we decided to save another $200k LOL.
We made it, so it all worked out...but funny how the goal posts do move.
livingalmostlarge
Recycles dryer sheets
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I'm hoping to move the goal posts closer if DH makes the startup work. I've been pondering as we just suck up the market.
On track so far, although a few house renovations have put us behind our savings goal for CY21. (Given the rising cost of raw materials, we picked the wrong time to reno!)
Recently I've been wrestling with this concept of Save What You Need and Not a Penny More, something explored really well in “Die with Zero” by Bill Perkins. It led us to re-evaluate the balance between maximizing savings now and enjoying life now (versus delaying bucket-list things to maximize savings). I know it’s a tricky balance and it’s impossible to predict exactly what we’ll need throughout our long retirement, BUT I think it’s healthy to understand Enough looks like. I know there’s another thread here that talks about this at length. I enjoyed that one immensely.
DW is on track for O-6 retirement and I will retire as an O-5. Our COLA’d pensions will cover living expenses; our other accounts are QoL funds (and helping the kiddos). Our question remains, how much do we really need to save beyond what we already have? We’re starting to open our minds to loosening the purse strings gradually but significantly as we get closer to 2028/2030. While it would take a catastrophic medical incident to derail us from earning our pensions it’s still not a guarantee until we have that paperwork in hand. Do we save as much as we can because nothing is guaranteed or do we accept the very low risk, pull back on savings, live it up now while the kids are young, and find ourselves likely overfunded? Working on striking that balance.
Thanks for letting me wax philosophical a bit. Happy to be a part of this crew!
Recently I've been wrestling with this concept of Save What You Need and Not a Penny More, something explored really well in “Die with Zero” by Bill Perkins. It led us to re-evaluate the balance between maximizing savings now and enjoying life now (versus delaying bucket-list things to maximize savings). I know it’s a tricky balance and it’s impossible to predict exactly what we’ll need throughout our long retirement, BUT I think it’s healthy to understand Enough looks like. I know there’s another thread here that talks about this at length. I enjoyed that one immensely.
DW is on track for O-6 retirement and I will retire as an O-5. Our COLA’d pensions will cover living expenses; our other accounts are QoL funds (and helping the kiddos). Our question remains, how much do we really need to save beyond what we already have? We’re starting to open our minds to loosening the purse strings gradually but significantly as we get closer to 2028/2030. While it would take a catastrophic medical incident to derail us from earning our pensions it’s still not a guarantee until we have that paperwork in hand. Do we save as much as we can because nothing is guaranteed or do we accept the very low risk, pull back on savings, live it up now while the kids are young, and find ourselves likely overfunded? Working on striking that balance.
Thanks for letting me wax philosophical a bit. Happy to be a part of this crew!
livingalmostlarge
Recycles dryer sheets
- Joined
- Feb 8, 2014
- Messages
- 334
I think we hit our number but DH isn't ready to bite the dust.
dukebound85
Dryer sheet wannabe
- Joined
- Dec 20, 2020
- Messages
- 16
Count me in!
We will both be 45 in 2030. Our daughter will be 9 (born this April).
We are currently at:
Investable Assets (non tax advantaged/tax advantaged/HSA/cash/etc):
410k
Rental Property Equity:
243k (market value minus loan balances)
Primary Property Equity:
142k (market value minus loan balance)
Net Worth (excluding Primary)
653k
Net Worth (including Primary)
795k
Other than our properties, no debts of any kind. I am not sure on a 529 plan due to the strings attached as opposed to funding our retirements first then merely foot the bill with any extra in our funds. Thoughts?
A cool observation is we have already hit coast fire (FIRE # of 2.5mill) so that is a liberating feeling
We will both be 45 in 2030. Our daughter will be 9 (born this April).
We are currently at:
Investable Assets (non tax advantaged/tax advantaged/HSA/cash/etc):
410k
Rental Property Equity:
243k (market value minus loan balances)
Primary Property Equity:
142k (market value minus loan balance)
Net Worth (excluding Primary)
653k
Net Worth (including Primary)
795k
Other than our properties, no debts of any kind. I am not sure on a 529 plan due to the strings attached as opposed to funding our retirements first then merely foot the bill with any extra in our funds. Thoughts?
A cool observation is we have already hit coast fire (FIRE # of 2.5mill) so that is a liberating feeling
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RetireeRobert
Thinks s/he gets paid by the post
Not me. I retired 21 years ago at age 54.
Just a quick update:
My invested assets are at $1.2M right now. I plan to semi-FIRE with $1.5M and fully FIRE at $1.8M. DW is working FT in a small reality business, so we are proper DINKs again. She mostly likes it. I've encouraged her to get her brokerage license to potentially make a bit more money, but she's pretty ho-hum about that.
I bought a couple inflatable kayaks and took them camping in Idaho earlier this month. I used to plan on taking big, open-water kayaking excursions like I did once in Alaska, but I'm not sure if I'll ever have the energy for that sort of thing again.
I had a pretty big health scare this winter and that renewed my desire to semi-FIRE ASAP. Paradoxically, I'm much more concerned now about not having great medical coverage after leaving mega-Corps. So that'll be something I will plan out extensively before pulling the trigger and switching to PT work.
My invested assets are at $1.2M right now. I plan to semi-FIRE with $1.5M and fully FIRE at $1.8M. DW is working FT in a small reality business, so we are proper DINKs again. She mostly likes it. I've encouraged her to get her brokerage license to potentially make a bit more money, but she's pretty ho-hum about that.
I bought a couple inflatable kayaks and took them camping in Idaho earlier this month. I used to plan on taking big, open-water kayaking excursions like I did once in Alaska, but I'm not sure if I'll ever have the energy for that sort of thing again.
I had a pretty big health scare this winter and that renewed my desire to semi-FIRE ASAP. Paradoxically, I'm much more concerned now about not having great medical coverage after leaving mega-Corps. So that'll be something I will plan out extensively before pulling the trigger and switching to PT work.
While I threw my name in the hat for the Class of 2027 things happen and I could see situations where my retirement would be delayed and I’d end up joining all of you in 2030. I will turn 56 in 2030 so it would still be an early retirement in my opinion.
Good luck to all of you! I will be following along to see your progress. Who knows- there’s a chance that I’ll join you!
Good luck to all of you! I will be following along to see your progress. Who knows- there’s a chance that I’ll join you!
