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Retirement Discussions / FIRE Wannabees

URL:  https://boards.fool.com/i-dont-post-often-sometimes-i-feel-like-i-dont-26771693.aspx

Subject:  Re: Dead? Date:  6/28/2008  10:10 PM
Author:  AliFool Number:  4612 of 5260

I don't post often. Sometimes I feel like I don't have much to contribute, but we've actually come quite a long way. The concept of this board (along w/ LBYM) is by far my favorite, so I'd love to see it be more active (and ON TOPIC!). I realize that this board is what we make it, so here's my contribution.

I definitely want to FIRE. My husband at least would like to be FI, if not RE. However, the reality is that we can't do it any time soon. (I'm mid-30s, he's early 40s).

We live in CA and bought a house several years ago. We're in the money on it, but we've got a long way to go to pay it off. It doesn't make sense for us to pay it off early, though, because our (fixed) interest rate is pretty low. At this point, the only way I could think of RE is if we were to give up the house, and I wouldn't want to do that.

We also don't have children yet, but may want to. If we do, it will obviously change the financial landscape in a major way.

We max out our retirement accounts and have an E-Fund. We bought some index funds (after-tax) a year or so ago, and we're down, but we're not too worried. We don't have a regular investment plan, but I want to set up something automatic rather than just transferring cash periodically when it builds up.

I'd love to be able to quit working when we have kids, or even before, or even if we don't (!), but it's not very likely. There aren't many places to cut back other than groceries, and we already shop sales, clip coupons, and don't buy much meat, seafood, or liquor. We've cut back our meals out a lot in the past year or so. We weren't too bad to begin with, though this was definitely a weak spot. We don't have an enormous flat-panel TV or NetFlix. My cell plan is pay-as-I-go and I use it very little; DH's is covered by his company. We don't spend a lot on utilities, but we do feel the pinch as these, along with everything else (gas, food, etc.) go up. We've been traveling less, but this mainly has to do with having fewer frequent flyer miles and too little time off. However, we'd like to continue to travel on occasion (or often, if we could).

I'm not sure what more there is to say about my quest for FIRE. The main things on deck for us are to rebalance our investments, and to look into an umbrella policy. That's about all for now.

I'm always interested to check this board to see how (and what) others are doing. I've learned a lot at TMF over the years.

--AF
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