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Retirement Discussions / FIRE Wannabees
|Subject: Re: When did you realize and where are you now?||Date: 8/6/2003 4:43 PM|
|Author: SloanT||Number: 62 of 5144|
So when did the rest of you realize you wanted to be FIRE? What steps have you taken, and where are you now?
Hmmm…. When did I realize I wanted to FIRE??? That's a tough one, I don't know if I can specify the exact moment. I will say that it was after I discovered the REHP, which was after I discovered TMF, which was after I had some $ to invest in college. I got the $ because I totaled the car I was given as a high school graduation present. Best car wreck I ever had, it literally changed my life…
After the wreck I paid of my CC debt, blew some of the money on a TV and other toys, bought a LBMM car, and put the balance with Vanguard. Since then I have saved a significant percentage of every paycheck. I graduated a year and a half after my legendary car wreck and when I got my job in Houston I kept saving from every check.
In January of this year I married my wife, we had been dating for 3.5 years. In fact, I wrecked my car, with her in it, on her birthday three weeks after we started dating. We now both LBOM. We are slowly paying off her college loans (only 4% interest), putting 10% each into our 401k's, and then saving 25% on top of that. Since we are DINKs this has been pretty painless so far.
Our FIRE plan has her working for the next three or four years, until I get out of grad school. I hope to quit work in a year to go to B-school full time. After I get out and get a job then she will be able to quit and start making babies. If everything goes according to plan, I will retire in my mid-30's.
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