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Subject:  Re: When did you realize and where are you now? Date:  8/6/2003  3:39 PM
Author:  John3haha Number:  38 of 5232

Well, I just turned 38 and have pretty much always known I wanted to be FIRE since my relatively early graduation from college in '87. My family (we have three kids starting grade school again Monday) was almost 46% of the way to being FIRE as of our last financial check-up. We normally go over the portfolio and make buy/sell decisions twice a year right after tax time and again in September. My goal is to be FIRE by age 50 and we're pretty much on track. In fact, my dream job these days would be to earn 60% of my current salary as a banker and work three days a week. My wife is already working a "fun job" with very limited hours (two mornings a week during the school year only).

FWIW, we save about 20% of our income and have been good savers for a very long time. Home equity makes up about a quarter of our net worth, but we try to use a conservative value after 7% commission for this figure to get a good net amount. We are planning to try and keep the kids in public schools through high school and then spring for 50%+ of all college costs for our kids. Our oldest just turned ten, so college expenses are a big savings goal ($35,000 set aside for that so far).


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