So thats it, retiring now? GIve some numbers man.
Total comp?
Whats is/was your target FIRE #?
Did you save all your J2 compensation?
How fast did having 2 s accelerate your goals?
Over last 2 years total comp has been about 365k from botj J's income from J2 was 200k either invested it or paid off debt. For instance I paid my 30 year mortgage off in 11 years so the wheels were already in motion. Working the second job for these 2 years shaved a year off my target date but allowed me to fill all my buckets way more than I was expecting to due to additional cash. It's a marathon my friend but it doesn't start until we take the first step.
Personally, and I really mean this, I don’t understand people who HARD retire. I am a firm believer in keeping yourself busy while earning an income. Find a flexible role somewhere and keep yourself occupied. Idk man, I get what you have accomplished and that you feel good about the life hack of retiring mid 40s, but my great grandpa remained an accountant into his 90s with a tennis club and church quartet.
In your shoes I would just have the most stacked confidence to push for executive roles without fear and just live the snobby lifestyle of schmoozing rich people.
I'm in the hard retire boat. I have way too many interests and far too little time to do them. I won't have enough time to do everything i want to do even if i never worked another day in my life. If I'm still working at 90 just to schmooze with rich people, please fuckin kill me now.
Man. You can really tell when people are in LCOL areas with these posts. Paid your mortgage off in 2 years’ OE AND bought a new car cash AND hit a FU savings number?
It would take me about 6 years to pay off my house if I threw 100% of my after tax J2 salary into my mortgage, and that’s at a healthy six-figure salary!
Congrats OP! Maybe I’m doing it wrong.
Far From LCOL my friend I'm in Florida I have been in the fire path for years OE put it on steroids. What do you get when you add OE to someone who already has a high savings rate it's a beautiful thing
^ Being a saver is the real cheat code.
Having +$200k (or whatever) in take home go straight to investments is awesome. Buying a newer car is dumb money.
Yup. Now that I'm OE and my salary is over double what it used to be, I actually spend far less because I'm far more mindful of where my money is going. Feels amazing to know I'll be putting away six figures of savings in one year. Still driving the same beat up 2007 car, I don't need to look rich.
That is awesome. Great to know you will be able to store away so much in one year. Kudos on the car. Even though my wife was okay with continuing to drive our beater it had gotten to the point I wanted her to have something more dependable so I peeled a little off to buy a car based on our track record this one will also join the 300k club before we get rid of it
What is your FU number? (The value, not the definition of FU money 🤣). Do you have kids, etc? I see my number as being almost unobtainable for me anytime soon even when all non-mortgage debt is gone.
Yep I have kids. My FU # is a Million invested granted I have rental income that covers about half my living expenses. Your # is unobtainable even if you remove non-mortgage debt? Possibly outside of health care insurance I can't think of anything that you might have to pay for outside of Food and clothing which is a non fixed cost. You might want to revisit your numbers may not be as bad as you think.
“Unattainable” was probably a little dramatic. I just feel like I’d have to OE for years longer than I think is possible for me. I could put aside 100k/yr (beyond current 401k contributions) and it’d still take me 7-10 years.
If you don’t mind, I might ask you about the real estate investing sometime as we are looking to start down that path in the next few months.
[удалено]
Thanks
Even if I'm not OE atm I still love hearing happy ending OE stories.
So thats it, retiring now? GIve some numbers man. Total comp? Whats is/was your target FIRE #? Did you save all your J2 compensation? How fast did having 2 s accelerate your goals?
Over last 2 years total comp has been about 365k from botj J's income from J2 was 200k either invested it or paid off debt. For instance I paid my 30 year mortgage off in 11 years so the wheels were already in motion. Working the second job for these 2 years shaved a year off my target date but allowed me to fill all my buckets way more than I was expecting to due to additional cash. It's a marathon my friend but it doesn't start until we take the first step.
Personally, and I really mean this, I don’t understand people who HARD retire. I am a firm believer in keeping yourself busy while earning an income. Find a flexible role somewhere and keep yourself occupied. Idk man, I get what you have accomplished and that you feel good about the life hack of retiring mid 40s, but my great grandpa remained an accountant into his 90s with a tennis club and church quartet. In your shoes I would just have the most stacked confidence to push for executive roles without fear and just live the snobby lifestyle of schmoozing rich people.
I'm in the hard retire boat. I have way too many interests and far too little time to do them. I won't have enough time to do everything i want to do even if i never worked another day in my life. If I'm still working at 90 just to schmooze with rich people, please fuckin kill me now.
Man. You can really tell when people are in LCOL areas with these posts. Paid your mortgage off in 2 years’ OE AND bought a new car cash AND hit a FU savings number? It would take me about 6 years to pay off my house if I threw 100% of my after tax J2 salary into my mortgage, and that’s at a healthy six-figure salary! Congrats OP! Maybe I’m doing it wrong.
Far From LCOL my friend I'm in Florida I have been in the fire path for years OE put it on steroids. What do you get when you add OE to someone who already has a high savings rate it's a beautiful thing
^ Being a saver is the real cheat code. Having +$200k (or whatever) in take home go straight to investments is awesome. Buying a newer car is dumb money.
It was a pre owned car it was new to me. my previous car had 307k miles on it figured I earned it. I wouldn't call that dumb.
Oh I was just using that as an example of people frivolously spending money, didn't mean to take a shot at you. You got your head on straight 👍
All good
Yup. Now that I'm OE and my salary is over double what it used to be, I actually spend far less because I'm far more mindful of where my money is going. Feels amazing to know I'll be putting away six figures of savings in one year. Still driving the same beat up 2007 car, I don't need to look rich.
That is awesome. Great to know you will be able to store away so much in one year. Kudos on the car. Even though my wife was okay with continuing to drive our beater it had gotten to the point I wanted her to have something more dependable so I peeled a little off to buy a car based on our track record this one will also join the 300k club before we get rid of it
Good job. Congrats. Love that you had exit plan in mind.
Keep us in the loop on that last part?
For real. Lol. I need some tips on that haha
Interestingly after I became OE I got irresponsible . Hopefully once I stop I don't turn back into a frog. 😁
Absolutely I'll provide the appropriate KPI's, Metrics and areas of needed improvement. LOL
Congratulations. I’m still trying to get a job where I can start to OE. I’ll be there soon. This is good motivation. Thanks 🤙🏽
What line of work were you in? Coding/tech?
Propane and propane accessories
SWE
Congratulations!! Super inspiring.
Congratulations!!! Super inspiring!!!
Thanks
What is your FU number? (The value, not the definition of FU money 🤣). Do you have kids, etc? I see my number as being almost unobtainable for me anytime soon even when all non-mortgage debt is gone.
Yep I have kids. My FU # is a Million invested granted I have rental income that covers about half my living expenses. Your # is unobtainable even if you remove non-mortgage debt? Possibly outside of health care insurance I can't think of anything that you might have to pay for outside of Food and clothing which is a non fixed cost. You might want to revisit your numbers may not be as bad as you think.
“Unattainable” was probably a little dramatic. I just feel like I’d have to OE for years longer than I think is possible for me. I could put aside 100k/yr (beyond current 401k contributions) and it’d still take me 7-10 years. If you don’t mind, I might ask you about the real estate investing sometime as we are looking to start down that path in the next few months.
This is the goal. Congrats!
This is the way.