FI in 2026?

[anothercog]

Hello,

Longtime member but periodic poster. I was playing around with FireCalc this weekend and was surprised to find it gave me a 100% success rate for FI in 2026.

I'm 53 now and using a high-level average of my current level of spending plus accounting for unsubsidized health insurance and taxes and maintaining that level of spending until 69 and then reducing spending 2-3% per year from there. Likely this includes some padding as expenses should drop at 67 when DW qualifies for medicare, the house may be paid off, the kids will hopefully be independent and the dogs have crossed the rainbow bridge.

I am factoring in taking social security at 69 as well.

So only 3 more years to go! That put an extra pep in my step on a Monday workday.

 

[Bigdawg]

Great news. Congratulations. Now work that plan and get it down to 2025.

 

[aaronc879]

What does it say for 2025? Don't wait until 2026 unless you have a really good reason to.

 

[anothercog]

What does it say for 2025? Don't wait until 2026 unless you have a really good reason to.

96.5% Not bad. But I'll still have one kid in high school, 2 in college and 3 dogs. The soonest I would pull the rip cord is 2027 when my youngest graduates high school.

Despite stress, my job is pretty easy and I don't have a lot of reasons to leave other than I would like to take vacations without coming back to tons of e-mail. People at my company tend to stay too long. Many stay until they are finally pushed out the door at 70, perhaps in part because its a pretty cushy gig for most folks. For me, its basically a part-time gig for full time pay.

I would like to clear the way so people below me can get promoted so I doubt I'll stay past 60. I'll likely take a package the first time its offered to me.

 

[arcyallen]

96.5% Not bad. But I'll still have one kid in high school, 2 in college and 3 dogs. The soonest I would pull the rip cord is 2027 when my youngest graduates high school.

Despite stress, my job is pretty easy and I don't have a lot of reasons to leave other than I would like to take vacations without coming back to tons of e-mail. People at my company tend to stay too long. Many stay until they are finally pushed out the door at 70, perhaps in part because its a pretty cushy gig for most folks. For me, its basically a part-time gig for full time pay.

I would like to clear the way so people below me can get promoted so I doubt I'll stay past 60. I'll likely take a package the first time its offered to me.

Good for you for finding the sweet spot! You have a job you don't hate, and the flexibility to stay or go. Working (like most things) is a lot more fun when you don't have to do it!

 

[Rianne]

When I was growing up, had 4 siblings, and we sought independence from a young age. Our parents gave us a lot of slack to think for ourselves (the opposite of helicopter parents). Thus, jobs at an early age and seek to be on our own. Are your kids in that camp? That will make your ability to become FIRE so much easier. You won't have to worry about their well-being as they've learned to be independent.

 

[pacergal]

Congratulations on your planning, your retirement date will be here before you know it!

 

[anothercog]

When I was growing up, had 4 siblings, and we sought independence from a young age. Our parents gave us a lot of slack to think for ourselves (the opposite of helicopter parents). Thus, jobs at an early age and seek to be on our own. Are your kids in that camp? That will make your ability to become FIRE so much easier. You won't have to worry about their well-being as they've learned to be independent.

They aren't nearly as independent as I was growing up. Their family life is much more stable compared to mine. In contrast to my upbringing, my wife and I are still married (coming up on 20 years), they have lived in the same house their whole lives and my wife as been a SAHM for nearly 15 years.

That said, we are definitely less helicoptor-y than other parents in our area. My older kid has had a part time job since he was 16 and my now 16 year old is eager to the do the same. They are also eager to go to college and flee the coup. I am instilling the importance of saving and planning ahead in them and they seem to get it.

They will definitely have an advantage in life as they will graduate from college debt-free. Hopefully they will realize their good fortune and take advantage of it from there.

 

[anothercog]

Good for you for finding the sweet spot! You have a job you don't hate, and the flexibility to stay or go. Working (like most things) is a lot more fun when you don't have to do it!

I realize I am very fortunate but I also realize that could all change quickly, hence getting to FI ASAP in case work becomes intolerable.

I am hoping/anticipating the stress will decrease once I no longer need the paycheck from this job.

My ideal scenario is that I get offered a package at age 59 and then give myself the gift of retirement for my 60th birthday (which coincides with my work anniversary date). That's assuming I don't leave before then.

 

[Koolau]

I realize I am very fortunate but I also realize that could all change quickly, hence getting to FI ASAP in case work becomes intolerable.

I am hoping/anticipating the stress will decrease once I no longer need the paycheck from this job.

My ideal scenario is that I get offered a package at age 59 and then give myself the gift of retirement for my 60th birthday (which coincides with my work anniversary date). That's assuming I don't leave before then.

I left a year and a half before a package was offered. Looking back, I wouldn't have waited had I known. I was ready to leave and my assignment wasn't tolerable. Maybe I could have "faked" it for 18 months, but that's not me. Glad I left when I did. YMMV