Share your FIRE Milestones - 2013- 2020

[novaman]

Just hit the $4MM investable assets mark (2/3 of this number outside tax deferred accounts). $550k house no mortgage. DW can pull $32k/yr non-cola pension immediately. Will be 53 at end of 2016.....lots of decisions to make.

Nice! We are pretty much at the same numbers and age. So what are you leaning towards? I've been slowly cutting back in my practice (dentist) and easing into semi retirement at this point. Currently work 3.5 days a week and will likely drop to 3. It gives me a nice balance of time to play while still being engaged in work.

My youngest is heading off to college so the wife and I will travel more without the restrictions of our kids' school schedules.

 

[tdv2]

Nice! We are pretty much at the same numbers and age. So what are you leaning towards? I've been slowly cutting back in my practice (dentist) and easing into semi retirement at this point. Currently work 3.5 days a week and will likely drop to 3. It gives me a nice balance of time to play while still being engaged in work.

My youngest is heading off to college so the wife and I will travel more without the restrictions of our kids' school schedules.

DW and I have careers that require all or nothing. It's nice you have the opportunity to cut it back. My spending plan is $150k/yr. Essentially 3% WR with the pension on top of that. Factoring in taxes and health insurance we should be fine. We have tracked our spending over the last 4 years----$75k average per year.

I feel like I'm good to go.

 

[DrRoy]

Just hit the $4MM investable assets mark. House no mortgage. DW can pull $32k/yr non-cola pension immediately. Will be 53 at end of 2016.....lots of decisions to make.

Nice! We are pretty much at the same numbers and age. So what are you leaning towards? I've been slowly cutting back in my practice (dentist) and easing into semi retirement at this point. Currently work 3.5 days a week and will likely drop to 3. It gives me a nice balance of time to play while still being engaged in work.

+1 As of Friday at $4.002MM W/O home equity or pension of $35K/yr. Also on Friday gave 8 mo notice to Megacorp. DW has a big list of projects for next spring. I plan to take my foot off the gas at w*rk. Also planning extra travel out west for next year.

 

[dixonge]

I will be fully vested in my pension in six months!

 

[Downtown]

We paid off our home mortgage today - one step closer to FIRE! Both of us are 51 yrs old, home is worth ~$650k. We'll save like crazy for +/-3 more years, then downshift our careers. Inching closer....


Sent from my iPhone using Early Retirement Forum

 

[tnbison]

Family net worth crossed the $500k mark by a pretty good margin last month. We're half millionaires! Shooting to retire @ 55 in 2040

 

[BigBob]

Family net worth crossed the $500k mark .. to retire @ 55 in 2040

Nice job at a very young age! I looked back to see when I crossed that mark and see that I hit that in 2010 when I was about 50. I am currently at 1.6MM and retiring at 55 in 3 weeks. Aggressively added funds over the past 5 years, did some downsizing, and enjoyed some pretty nice market runs.

 

[tnbison]

Nice job at a very young age! I looked back to see when I crossed that mark and see that I hit that in 2010 when I was about 50. I am currently at 1.6MM and retiring at 55 in 3 weeks. Aggressively added funds over the past 5 years, did some downsizing, and enjoyed some pretty nice market runs.

Wow, 1.1M increase to your net worth in 6 short years! Holy smokes! That's amazing, great job and congratulations on your retirement!

 

[LitGal]

Well, the Deed Is Done.

This has little to do with investments growing, net worth, or my philosophy of Wall Street. However, in recent weeks I have collapsed on the couch, checked the TV a bit (elections....news...depressing), and returned to reading this forum.

WHY? I moved. The downsizing is done. The 3,000 sq. ft. house sold, am now moved into the 1700 sq. ft.condo, and am (basically) settled.

When DH passed away in Jan. '15, I'd posted here that downsizing was the goal. So now ER can kick in better than ever. Cut my property taxes about 60%, monthly expenses about 25%..........which means more cash for the travel coffers (without touching the savings).

DH knew I would do this; he just could not bear leaving his beloved cabin/lodge by the woods, with the fire roaring as he watched the deer tromping by in the snow.

However, since he is no longer there to enjoy it, I will be heading out to the horizon, with friends signed up for various expeditions. Will lock the door of the condo, put all bills on auto-pay (can stay caught up with those online), and begin a new life. It's easy to live out of a carry-on...........

Got rid of about 2/3 of our "stuff" and 3/4 of the books. New office is STILL crammed.......but, fortunately, I found a 3 BR condo, so I can still have an office. So far, I love living with less. Can hardly remember now what I got rid of.

This does feel like a milestone.

 

[surferLife]

Well done on downsizing; I am jealous! We are just now starting to downsize and it does feel good to let stuff go, but there are still things we need, so it's difficult too. The books, ugh, we have a literal ton of them. Maybe I'll just buy them all on kindle and get rid of them. I could buy 100 E-books for $1,000 and get rid of 100 of the biggest hard books; I think that's a healthy exchange!


Sent from my iPhone using Early Retirement Forum

 

[simple girl]

LitGal - that is a huge milestone indeed. Wishing you all the best on this next phase of your life!

 

[daylatedollarshort]

Got rid of about 2/3 of our "stuff" and 3/4 of the books. New office is STILL crammed.......but, fortunately, I found a 3 BR condo, so I can still have an office. So far, I love living with less. Can hardly remember now what I got rid of.

This does feel like a milestone.

Good work on the downsizing and clutter. I just took 4 bags of stuff to a charity thrift shop today and came back with one new to me book, so I'm happy to keep up the net outflow. Have fun on your travels.

 

[ivinsfan]

This has little to do with investments growing, net worth, or my philosophy of Wall Street. However, in recent weeks I have collapsed on the couch, checked the TV a bit (elections....news...depressing), and returned to reading this forum.

WHY? I moved. The downsizing is done. The 3,000 sq. ft. house sold, am now moved into the 1700 sq. ft.condo, and am (basically) settled.

When DH passed away in Jan. '15, I'd posted here that downsizing was the goal. So now ER can kick in better than ever. Cut my property taxes about 60%, monthly expenses about 25%..........which means more cash for the travel coffers (without touching the savings).

DH knew I would do this; he just could not bear leaving his beloved cabin/lodge by the woods, with the fire roaring as he watched the deer tromping by in the snow.

However, since he is no longer there to enjoy it, I will be heading out to the horizon, with friends signed up for various expeditions. Will lock the door of the condo, put all bills on auto-pay (can stay caught up with those online), and begin a new life. It's easy to live out of a carry-on...........

Got rid of about 2/3 of our "stuff" and 3/4 of the books. New office is STILL crammed.......but, fortunately, I found a 3 BR condo, so I can still have an office. So far, I love living with less. Can hardly remember now what I got rid of.

This does feel like a milestone.

It is a milestone and congratulations on your new home. I remember when you started the thread about condo buying and now you are settled in and happy.

 

[RobbieB]

It's nice to have an extra bedroom to make an office.

 

[LitGal]

It's nice to have an extra bedroom to make an office.

YES!! And it's even nicer that I only have to go in there to take care of personal business, as necessary. No more work-related projects!!

 

[Aiming_4_55]

Buying a Co-op in Southern CA (Southbay area)

Next step to ER planning - closing in 2 weeks on a co-op, about 3 years to ER or semi-ER (this depends on my enjoyment to w*rk and life balance).

We've been here for 3 years and enjoy the weather, so it's time to stop paying rent. The co-op is within a few miles of our current place. The co-op provides reasonable space for current and future needs with 1500 sq ft and HOA (lock and leave mindset for the future).

The co-op will actually lower our cost of living, so updating our loose budget with more savings in the future.

 

[LitGal]

Next step to ER planning - closing in 2 weeks on a co-op, about 3 years to ER or semi-ER (this depends on my enjoyment to w*rk and life balance).

We've been here for 3 years and enjoy the weather, so it's time to stop paying rent. The co-op is within a few miles of our current place. The co-op provides reasonable space for current and future needs with 1500 sq ft and HOA (lock and leave mindset for the future).

The co-op will actually lower our cost of living, so updating our loose budget with more savings in the future.

Congratulations. Doesn't it give you a feeling of accomplishment to make this step toward ER? and charting your own destiny?

 

[someguy]

Next step to ER planning - closing in 2 weeks on a co-op, about 3 years to ER or semi-ER (this depends on my enjoyment to w*rk and life balance).

We've been here for 3 years and enjoy the weather, so it's time to stop paying rent. The co-op is within a few miles of our current place. The co-op provides reasonable space for current and future needs with 1500 sq ft and HOA (lock and leave mindset for the future).

The co-op will actually lower our cost of living, so updating our loose budget with more savings in the future.

South Bay as in SFO area or San Diego area? I think I remember a thread about you moving from MN to the Los Angeles area but don't remember what the final outcome was.

Congrats regardless!

 

[Aiming_4_55]

Congratulations. Doesn't it give you a feeling of accomplishment to make this step toward ER? and charting your own destiny?

Thanks.

Accomplishment & destiny = Absolutely, still sometimes wondered how all this hardwork materialized to such great options for the future. Sure, it was LBYM, dedicated work/planning for a good future with average intelligence, etc. but sometimes wonder how I got so lucky.

I remember being a kid/teenager with very limited financial means, mom making min. wage in a factory, and losing dad as a teen. Truly, living some what of the American dream.

 

[Aiming_4_55]

South Bay as in SFO area or San Diego area? I think I remember a thread about you moving from MN to the Los Angeles area but don't remember what the final outcome was.

Congrats regardless!

Thanks. Greater Los Angeles area for the last 3 years and perhaps long term as it's very affordable co-op.

Per wiki - The South Bay is a region of the Los Angeles metropolitan area, located in the southwest corner of Los Angeles County. The name stems from its geographic location stretching along the southern shore of Santa Monica Bay.

The climate is very nice and comfortable most of the year, about 4 miles from the ocean, so the breeze is nice.

 

[Montecfo]

Milestones:

Well son graduated college this year and immediately started his "real " job at Megacorp. Was a relief he was able to find a great job in an economy that can be treacherous for people without experience. So he is no longer cashing checks at bank of M&D (and graduated debt-free).

Net Worth $3M. Investments $2.5M
FI since 2010. Will RE as soon as small, non-Mega corp company I work for is sold (been on the block for 5 years). I have enjoyed it, but ready to RE. Hoping for a bit of a cash-out there, but not a requirement.

DW, who was SAHM during the kid years, has gone back to work. She loves her job. Not sure when she will want to quit, hmm. May have to try to convince her.

Looking forward to RE, maybe next year? (I am 56, DW 58).

 

[2017ish]

Montecfo,

congrats! getting the last one off the family payroll is a major milestone. Sounds like you are well set. Hopefully you and your spouse can work out the logistics. I was the SAHD for 15 years, and will have been back in the workforce for only 9 years when we both hang it up next year. Love the job, but love the idea of spending time together more!

(I also am 56; DW is 55.)

 

[bigmarley4]

Lurker here. I don't know if this is the right kind of milestone to post, but I'm proud to have paid off all my student loans 10 years early (actually did this about 6 months ago).

$1.2M net worth -- I am 34, DW is 37. Aiming for FI by the time I'm 40.

 

[2017ish]

Lurker here. I don't know if this is the right kind of milestone to post, but I'm proud to have paid off all my student loans 10 years early (actually did this about 6 months ago).

$1.2M net worth -- I am 34, DW is 37. Aiming for FI by the time I'm 40.

Gulp. Wow. The Student loan payoff is noteworthy, and so is that net worth at your ages. You needed to add a few of these:

You've got yourself in a great position. So much so that I'm like this:

Keep it up and you'll hit that goal.

 

[simple girl]

Lurker here. I don't know if this is the right kind of milestone to post, but I'm proud to have paid off all my student loans 10 years early (actually did this about 6 months ago).

$1.2M net worth -- I am 34, DW is 37. Aiming for FI by the time I'm 40.

Congratulations! That is an extremely impressive milestone, especially for your age!!!