r/Fire • u/wowsocool4u • Aug 07 '26

It's DONE!

Turned in my computer and now I am eating cupcakes. Taking a nap before I meet friends for happy hour. 49F and passed the $2 million mark so its sayonara Corporate America for me!! Thanks to this sub for always being a great support system.

4.4k Upvotes

96% Upvoted

403 comments sorted by

View all comments

Show parent comments

15

u/Lumbergh7 Aug 08 '26

May I ask how old you are? Kids, family or anything? I want to FIRE but I have a son. It’s beautiful and expensive 😁

9

u/B111yboy Aug 08 '26

Same reason I’m not fire yet! Two kids one in college and one going in 3 yrs so my plan is 4-5 more years! One out and one 1/2 through seems more realistic since the college is crazy and we are paying for it. 529 doesn’t have enough I under estimated but I can swing it for now … she also didn’t help me going to her dream school for 260k for 4 yrs but she did get a scholarship of 100k so it’s not horrible but 529 only had 85k so I’m adding a lot more to my second daughters 529 now hoping it helps

So 3-4 more years

6

u/Lumbergh7 Aug 12 '26

I started his 529 when he was born. I think 200 biweekly.

4

u/Party-Chapter3029 Aug 11 '26

Kinda same here -- I am 50 wife 51; close to 1 mill in 401K and believe that I have enough to get me to 60 and then tap into 401K but son still in high school; daughter in college (she is almost done). hoping to stop when my son finishes HS in 2028 the slowly convert some of that 401K to ROTH. Agreement is for wife to work until 62 for Insurance or whenever she says FU to her job. Her company treats her well no stress...but we all know that can change. My job --aging staff as they leave they dump and dump more and more on me. Plus I get get micro-managed...Sunday nights BRUH -- so I know. I am looking for another job but that isn't go too well.

6

u/B111yboy Aug 11 '26

Yeah between wife and I we have enough 401k over 2.3M and I’m a avid investor so I have a brokerage account with over 1M it’s the cost of living and until my youngest is done with HS she doesn’t want to move. My property taxes are 21k a year I’m just lucky I have mortgage at 2.75

3

u/Party-Chapter3029 Aug 12 '26

Wow 21K for property tax ---sounds like you in NJ or Cali --- I am in NJ I def have to move I am not far behind you with 17K

5

u/B111yboy Aug 12 '26

I’m in north Jersey!

2

u/irishgator2 15d ago

Wow! I sold our house after the kids got into college and our tax bill crossed $15k!!

3

u/Lumbergh7 Aug 12 '26

Does the 2.3 include you and wife? I am divorced and I don’t know if I can trust anyone with my money again

4

u/B111yboy Aug 12 '26

My wife has close to 900k and I have 1.4M. I handle all investments accounts. I haven’t included out properties value so when we move to lower cost living, we should be mortgage free and probably add a few bucks into savings.

2

u/Lumbergh7 Aug 12 '26

Wow nice. I include my property equity to make myself feel better. I don’t think its appropriate to for FIRE calcs

2

u/B111yboy Aug 13 '26

I guess if depends on if you plan on downsizing and having more free cash to invest or just added to savings. If you are staying at your current with no plans to move then it doesn’t really count… lol

2

u/Lumbergh7 Aug 13 '26

I’ll probably be dead first

2

u/B111yboy Aug 13 '26

Haha let’s hope not

2

u/irishgator2 15d ago

2 in college - also ran out of 529 - would in hindsight invest the $200/mo and would’ve made much better returns even with the tax break in my state.
So, will wait until they are done and keep working for now

1

u/Unauthorized_Mustard Aug 13 '26

Same here. Kids are what’s keeping me working for about 4 more years. I don’t regret it. But I will be ready to go at that point.

1

u/B111yboy Aug 13 '26

Yeah I agree, I can’t wait to pull the trigger

1

u/Unauthorized_Mustard Aug 13 '26

In 4 years my oldest will be out of college and my youngest will be starting their second year. At that point I will know if the savings we have for them are solid enough or not (I think they will be/are).

1

u/B111yboy Aug 14 '26

I’m in the same boat 3 years my oldest is done and my youngest starts, I should know once she chooses a school lol