Class of 2015

[FreqFlyer]

My current plan is to leave in Feb 2015 after I receive my annual bonus. I'll be 43 and a 3% WR should more than cover my expenses. That's if the OMY syndrome doesn't get me. I wouldn't mind the company eliminating my position ( theoretical end of my expat assignment) so I can take the severance and run.

 

[ikubak]

1. Ikubak - April 2015- age 52
2. LoneAspen - Feb 2015- age 48
3. Neihn - Dec 2015-
4. Fourchristians - June 2015
5. ABQ2015 - March 2015- 59
6. Live and Learn - March 2015- 52
7. SkeetShooter - December 2015
8. DanD76 - June 2015
9. Utrecht - Jan 2015 - Age 50
10. haloFIRE - August 14, 2015 - age 47
11. Doxiemama - December 2015 - age 55
12. Phil1ben - June 1, 2015 - age 55
13. SonnyJim - January 1. 2015 - age 48
14. Theseus - July 2015 - age 59 (moved up to 2014 - congrats )
15. cinman2000 - Jan 2015 - age 54
16. biker4life - July 2015 - age 45
17. Options - January 2015 - 59.5
18. Al18 - June 2015 - age 52
19. Siamond - July 2015 - age 53
20. Shabby - January 2015 - age 48
21. jcretire77 - April 2015 - age 55
21. Fermion - Oct 2015 - age 45
22. BrianB - January 2015 - age 56
23. RobLJ - May thru August - age
24. FreqFlyer - Feb 2015 - age 43


Anyone joining the class of 2015, feel free to add your name to the list (just add to the bottom) by copying the list, pasting it in a reply to the thread and then adding your name, when you will retire and age on the date of retirement. The class of 2014 has about 71 soon to be retirees.

On a separate note, when you do retire, how much cash (cash and short term bonds) do you plan on having on hand? I was thinking about having enough cash for 1-2 years, just in case of a market malady. What are the rest of you thinking?

 

[doxiemama]

On a separate note, when you do retire, how much cash (cash and short term bonds) do you plan on having on hand? I was thinking about having enough cash for 1-2 years, just in case of a market malady. What are the rest of you thinking?

I think you will get vastly different answers from those that will be living off of pensions vs. those that are living off of investments with no pensions.

I will be collecting a pension so that will be my main source of income. I will have six months of emergency money available, cash for house or car repairs, medical bills etc.

I am hoping to let my investments keep growing and am planning on staying in the market 80% equities and 20% bonds since my pension is guaranteed, CalPERS. Since that is my safe money I feel like I can invest for growth with my non-pension money. I know CA could go broke etc. etc. But until that happens, I plan on staying invested and then at age 62 I can collect social security. I am married and my husband already is on social security due to being disabled. That is my story. We are not the high flyers like some of the ER stories.

I just read the 2020 thread. They all have between 2.5M and 3.5M saved already. Wow! If I had that much, I would retire tomorrow. Some of them are pretty young, only 40 so that money needs to last a long time, but Wow! Even if I saved and invested every dime I ever earned I don't think I could have hit that mark.

 

[ikubak]

I think you will get vastly different answers from those that will be living off of pensions vs. those that are living off of investments with no pensions.

That's a very good point, doxie. I won't have any pension income for the first 6 or 7 years of retirement. Then gradually over the following 3 or 4 years, I'll have enough pension income to cover 80-100% of our expenses. That's why one or two years of cash or near cash to start off with would be comfortable for me.

 

[papadad111]

Count me in. Or at least, this is the plan of record. ....... I have a deferred compensation plan with a first lump sum 6 months after my resignation ... 7/4/2015... and I would like to make it happen on a taxable year without my regular salary of 1H'15 pushing up the tax bracket!

Sounds like an INTELligent choice... time it so annual bonuses which are accrued in current tax year but paid in the following tax year wont impact your tax rate.

 

[Live And Learn]

Catching up on the thread. I budget $30k / year for health care up to age 67 and then 15k per year thereafter (covers 2).

I have 4 years cash / short term bonds today. I plan to use cash to keep my MAGI below the threshold for ACA subsidies for at least the first few years. That will allow me to "pocket" the difference between my 30k budget and what I actually spend. Ideally I would like to spend half of that "savings" on travel in the subsequent year, but I think I might be too frugal to actually splurge like that.

 

[hiker88]

1. Ikubak - April 2015- age 52
2. LoneAspen - Feb 2015- age 48
3. Neihn - Dec 2015-
4. Fourchristians - June 2015
5. ABQ2015 - March 2015- 59
6. Live and Learn - March 2015- 52
7. SkeetShooter - December 2015
8. DanD76 - June 2015
9. Utrecht - Jan 2015 - Age 50
10. haloFIRE - August 14, 2015 - age 47
11. Doxiemama - December 2015 - age 55
12. Phil1ben - June 1, 2015 - age 55
13. SonnyJim - January 1. 2015 - age 48
14. Theseus - July 2015 - age 59 (moved up to 2014 - congrats )
15. cinman2000 - Jan 2015 - age 54
16. biker4life - July 2015 - age 45
17. Options - January 2015 - 59.5
18. Al18 - June 2015 - age 52
19. Siamond - July 2015 - age 53
20. Shabby - January 2015 - age 48
21. jcretire77 - April 2015 - age 55
21. Fermion - Oct 2015 - age 45
22. BrianB - January 2015 - age 56
23. RobLJ - May thru August - age
24. FreqFlyer - Feb 2015 - age 43
25. Hiker88 - August 2015 - age 55

 

[Shabby]

W**K is a challenge

Any other Class of '15ers having some trouble staying focused and caring about this last stint of w**k? I know I need to stay the course, but I can't help dreaming of my Life 2.0.

 

[LoneAspen]

Any other Class of '15ers having some trouble staying focused and caring about this last stint of w**k? I know I need to stay the course, but I can't help dreaming of my Life 2.0.

I mentally checked out a long time ago. And if it weren't for being only 3 years into a 4-year vesting schedule, I probably would have been gone already.

Which is kind of sad in a way. By all accounts, the place I'm at should be the most exciting place I've worked. They're probably going to IPO in the next handful of months, which will be a first for me. They by far have the smartest group of people I've worked with, the best product, the most sales traction, etc, etc, etc. But I'm so over high-tech, IT, and Silicon Valley that it just doesn't resonate with me.

I've heard a lot of people say it's not the reward that matters, but the journey. To which I say...meh. I don't care about the journey anymore, give me the pot of gold at the end of the rainbow...you can keep the journey.

I suppose if this level of success at a startup had occurred about 15 years ago when I joined my first startup, I'd have been thrilled. But at this stage in my life, I just want to move on.

 

[Options]

Catching up on the thread. I budget $30k / year for health care up to age 67 and then 15k per year thereafter (covers 2).

$15K/yr per person medical. That's steep. I can get COBRA for $5K/yr for 3 years (in CA, and including prescriptions), and post-COBRA can get almost exactly the same now with ACA until Medicare.

What's your reasoning for $7.5K/yr post-Medicare? My mother has pain only about $2K/yr for years and she's 81(?). Believe this figure is in addition to medicare premiums.

 

[enjoylife133]

My wife and I are both 60 and FI for several years now. We had originally planned on retiring in 2012, but my daughter got engaged and I now have a wedding to pay for. That same year she also got accepted for 4 years post grad to Dental school. So my wife and I decided to postpone our ER date to 2015 to help pay for her dental school and for us to pay for a wedding.

We both work for our different versions of megacorp and we both are so fed up with the BS that we are so ready to walk out. We have driven a stake in the ground for Dec. 31, 2015. Daughter graduates from dental school 5 months later and we can carry the rest. Both of us are so looking forward to beginning the rest of our lives, free of the golden handcuffs of megcorp! This forum has been great and we are officially one of the class of 2015! WOOO-HOOO!

 

[Shabby]

you can keep the journey.

Ha! Still laughing at this line!

 

[Shabby]

I am curious about the Class of 2015.
What is your "number"? As in, what is the nest egg total you are striving for to retire?
Also, when you retire will you have a mortgage?

Me: $1,400,000 Yes mortgage, although I don't have one now

 

[jcretire77]

$2,600,000 without a mortgage. Gotta' have a goal!

 

[enjoylife133]

1. Ikubak - April 2015- age 52
2. LoneAspen - Feb 2015- age 48
3. Neihn - Dec 2015-
4. Fourchristians - June 2015
5. ABQ2015 - March 2015- 59
6. Live and Learn - March 2015- 52
7. SkeetShooter - December 2015
8. DanD76 - June 2015
9. Utrecht - Jan 2015 - Age 50
10. haloFIRE - August 14, 2015 - age 47
11. Doxiemama - December 2015 - age 55
12. Phil1ben - June 1, 2015 - age 55
13. SonnyJim - January 1. 2015 - age 48
14. Theseus - July 2015 - age 59 (moved up to 2014 - congrats )
15. cinman2000 - Jan 2015 - age 54
16. biker4life - July 2015 - age 45
17. Options - January 2015 - 59.5
18. Al18 - June 2015 - age 52
19. Siamond - July 2015 - age 53
20. Shabby - January 2015 - age 48
21. jcretire77 - April 2015 - age 55
21. Fermion - Oct 2015 - age 45
22. BrianB - January 2015 - age 56
23. RobLJ - May thru August - age
24. FreqFlyer - Feb 2015 - age 43
25. Hiker88 - August 2015 - age 55

1. Ikubak - April 2015- age 52
2. LoneAspen - Feb 2015- age 48
3. Neihn - Dec 2015-
4. Fourchristians - June 2015
5. ABQ2015 - March 2015- 59
6. Live and Learn - March 2015- 52
7. SkeetShooter - December 2015
8. DanD76 - June 2015
9. Utrecht - Jan 2015 - Age 50
10. haloFIRE - August 14, 2015 - age 47
11. Doxiemama - December 2015 - age 55
12. Phil1ben - June 1, 2015 - age 55
13. SonnyJim - January 1. 2015 - age 48
14. Theseus - July 2015 - age 59 (moved up to 2014 - congrats )
15. cinman2000 - Jan 2015 - age 54
16. biker4life - July 2015 - age 45
17. Options - January 2015 - 59.5
18. Al18 - June 2015 - age 52
19. Siamond - July 2015 - age 53
20. Shabby - January 2015 - age 48
21. jcretire77 - April 2015 - age 55
21. Fermion - Oct 2015 - age 45
22. BrianB - January 2015 - age 56
23. RobLJ - May thru August - age
24. FreqFlyer - Feb 2015 - age 43
25. Hiker88 - August 2015 - age 55
26. Enjoylife133 - December 2015 - age 60

 

[enjoylife133]

I am curious about the Class of 2015.
What is your "number"? As in, what is the nest egg total you are striving for to retire?
Also, when you retire will you have a mortgage?

Me: $1,400,000 Yes mortgage, although I don't have one now

3,100,000 no mortgage and no debt, but DD wedding and 2 more years of Dental school to go for DD.

 

[tuffshed]

Thought I might have to wait a bit longer, but I'm now planning on joining the Class of 2015. I will be 60 on Dec 31, 2014 and pensions from current and a previous company will then be over the threshold for base expenses. That and Obamacare and being eligible for subsidy have got me excited that this shouldn't be too hard especially since my DW 6 years younger expects to work a bit longer in her consulting business.

The company just had a big layoff, which I dodged, but more expected next year for which I may volunteer for a nice severance but for now (and for the past few years) I am part time and easing into this. For once I'm looking forward to more layoffs. Feels good...feels great.

I can't even imagine how I survived working full time and am quite satisfied with the part time arrangement till I FIRE, it gives me some extra income (and nice insurance) for now. We are taking a lot of overseas vacations now with the extra money/time and saving the longer domestic vacations for later. I purchased a nice VW camper van a few years back which we have been using on short vacations (week long) but intended for the future one/two month camp/bike/hike trips in the future.

As they said in "Joe vs. the Volcano"... Shazam, you're coming into focus.

 

[LoneAspen]

The company I'm at recently filed their S-1, and will probably be IPO'ing in the next couple months. By the time I want to leave in Feb 2015, I hope my stock is worth at least $1,000,000 after taxes. However, my real exit criteria is $2,000,000 after taxes to fund the kind of lifestyle I want.

I couldn't retire and fund the kind of lifestyle I want on just $1m. The good thing is, I plan on moving away from the Bay Area for a couple years, back to the Rockies. Think Colorado or Montana - somewhere cheaper, and some place I can decompress and reconnect with the outdoors, which is something I've wanted to do for years. I can get a much more affordable house, and enjoy less-expensive outings (like visiting national parks) while my stock increases in value.

 

[ABQ2015]

About half of my retirement income is based on a pension so not sure what that means with respect to "My Number" but here goes:

$700K
+ Pension w/COLA (worth $1M?)
+ SS Supplement to age 62
+ Employer health insurance at cost of $2.5K per year
+ No mortgage or debt
+ Single
+ Retiring 5-15 years later than most of you

I should have more than $700K but am a lousy investor.

 

[ikubak]

1.2 million

+pension
+social security
+maybe some inheritance but not counting on it

No mortgage or debts or dependents who need $

 

[ABQ2015]

On a separate note, when you do retire, how much cash (cash and short term bonds) do you plan on having on hand? I was thinking about having enough cash for 1-2 years, just in case of a market malady. What are the rest of you thinking?

The rule of thumb seems to be two years (not counting pensions or SS I assume, just the money that you would normally be taking from your investments and perhaps some money for emergency expenses?). However, I plan to get my house ready to put on the market, sell it, and relocate. Also need to buy a new car. This will be expensive and I don't want to take the money out of my 401k. So my biggest retirement concern these days is accumulating the cash that I need for this "project" and the costs are a little of an unknown although can be estimated.

I have some of the money saved but my goal from now until retirement is to save that money. Finally having that mortgage paid off will help. Also read an article recently that retirees do not go usually into retirement with enough cash. Wanted to post it but couldn't find it.

 

[doxiemama]

Any other Class of '15ers having some trouble staying focused and caring about this last stint of w**k? I know I need to stay the course, but I can't help dreaming of my Life 2.0.

Yes!!! Just got back from a week in Arizona, we will most likely retire to Lake Havasu. Looked at some model homes and some custom homes. Work is getting worse by the day and the idea of 25 more months seems like forever. I supervise two people and that has been a huge challenge the past few months. The job beyond the supervision aspects is challenging enough. Sometimes I want to throw in the towel now, but it would be financial suicide. I will get a pension and if I leave now it would be reduced by $15,000 a year so that would be giving up $150,000 in ten years $300,000 in 20 years etc. I have been battling migraines from the stress at work, but don't want to walk away from that much money. But some days I sure am tempted.

Healthcare is not part of the package so by working 25 more months that is 25 months where I pay $100 for our healthcare plus co-pays vs. picking up the huge premiums. That alone is worth the migraines unfortunately.

 

[ikubak]

As if I didn't have enough ways to count the days down, I now have a countdown app on my iPod. I'll be under 500 days this weekend. I figured, why should I do all the work when a free app will do it for me?

 

[cinman2000]

So after some more number crunching and deep meditation it looks like I am moving up to July of 2014. Honestly I think I could pull the plug now, but a bonus in May and some stock options in July are enough to keep me around a bit longer. If the math is right, a min of 91 more working days if I use all my vacation. It's looking more real!!

 

[ikubak]

492 days to go