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Author: ajs56 One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5069  
Subject: Happy dance for FIRE milestone Date: 5/4/2006 5:20 PM
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I've seen a few of these Happy dances here, and I'd like to share one also. As many of you know, such financial milestones are not always the kind of thing easliy shared with friends and relatives... as not everyone understands or embraces the idea of LBYM or FIRE. But the good folks here at TMF... well, you know what I'm talkin' 'bout!!!

DW and I are on the cusp of turning 50, kids nearly through college, house nearly paid off, and generally enjoying ourselves.

FIRE stats:
401k/IRA funds $ 205,351.75
Taxable accounts $ 140,387.65
Vacant building site $ 30,000.00
Commercial Rental Equity $ 500,000.00
Home Equity $ 125,000.00
Total $1,000,739.40

So... a tentative hold on a major milestone of $1M!! I know some folks don't include their residence in their FIRE holdings, but my feeling is that at some point I'll sell it to pay for my monthly final years at at Sunset Village nusrsing home, so why wouldn't I include it?

We don't know when exactly FIRE is for us. Uswed to think that when we got to theis milestone, we'd bail! Kids in college for another year... daughter's wedding 8/07... I don't absolutely hate my job and haven't found the next big thing to replace it... but it's nice to be at a point where you have options...

I'd like to encourage everyone out there... we have done this on one income/SAHM, the only unusual thing being our rentals. We started with some IRAs in the 80's, LBYM lifestyle (not pauper but not extravagant), and by consistent savings. You can do it.

TYhoughts out there?

-AJ
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