Hi all/ new member from FL

Say hello!!
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FIRE 2018
Posts: 127
Joined: Fri Jul 19, 2019 7:32 am
Location: Florida

Hi all/ new member from FL

Post by FIRE 2018 » Fri Jul 19, 2019 11:23 am

Hi all,

I FIREd late in 2018 after almost 30 years of working, living below my means and investing in the US stock market starting in college. I look forward to hearing other members stories. I moved to Florida in the early 1990s and this is where I want to continue to be!

Take care and save, invest and live below your means! It can be done!

prognastat
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Re: Hi all/ new member from FL

Post by prognastat » Fri Jul 19, 2019 1:15 pm

Welcome to the forums and congrats on having achieved FIRE already.

FIRE 2018
Posts: 127
Joined: Fri Jul 19, 2019 7:32 am
Location: Florida

Re: Hi all/ new member from FL

Post by FIRE 2018 » Fri Jul 19, 2019 1:18 pm

Thank you. At age 51_I achieved it. Weird that my former peers at work wanted to know my secret. It's no overnight success. It's slow and steady and never looking back.

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unemployable
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Re: Hi all/ new member from FL

Post by unemployable » Fri Jul 19, 2019 3:15 pm

FIRE 2018 wrote:
Fri Jul 19, 2019 1:18 pm
Thank you. At age 51_I achieved it. Weird that my former peers at work wanted to know my secret. It's no overnight success. It's slow and steady and never looking back.
It's the same way people go bankrupt. First gradually, then suddenly.

wolf
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Location: Germany

Re: Hi all/ new member from FL

Post by wolf » Sat Jul 20, 2019 1:43 am

Welcome! Congrats to FIRE!

wolf
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Re: Hi all/ new member from FL

Post by wolf » Sat Jul 20, 2019 1:47 am

In regards to the high stock valuations, how high is your money buffer? Or how low is your WR?
Did you learn any important (and influencing) lessons along the way to FIRE?

FIRE 2018
Posts: 127
Joined: Fri Jul 19, 2019 7:32 am
Location: Florida

Re: Hi all/ new member from FL

Post by FIRE 2018 » Sat Jul 20, 2019 4:16 am

Some lessons I learned along the way to FIRE

Believe in what you are doing and invest in market regardless of conditions
Be aware and remain steadfast of the critics and the fake news
When the market drops and many people think the sky is falling, use the contrarian approach and purchase more to accumulate huge positions in the market
To each his own however my positions were at most times 80/20 stocks/cash not including my real estate
Pay off your home as soon as possible, then with the mortgage payments you no longer pay for, accumulate bigger positions in the market
Simplify your life because all the toys in the world will not make you happy
Take care of yourself and your family/ a clearer mind will assist in times of turmoil
I actually enjoyed working but to be FI is a great feeling.
To get to FIRE, you can't get there by just saving, but your savings in the right places in the long run will accumulate your net worth.
The Monte Carlo retirement simulator website is a great tool to see if you can FIRE and how much can you spend in early retirement until your last days
The book - The Millionaire next door , is useful reading.
Even when I FIREd I still look out for good deals to save and invest. It never grows old.
Go to church and be thankful what God has given you
Get out of debt. It requires a huge mindset of sacrifice and soul searching and little sleep at times but nothing in this world is easy but the rewards are there at the finish line

Jason
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Re: Hi all/ new member from FL

Post by Jason » Sat Jul 20, 2019 10:19 am

Sound, simple, advice.

I would be interested in details about your portfolio. Not net worth per se, but investment allocations - funds vs. individual stocks etc.

FIRE 2018
Posts: 127
Joined: Fri Jul 19, 2019 7:32 am
Location: Florida

Re: Hi all/ new member from FL

Post by FIRE 2018 » Sat Jul 20, 2019 11:42 am

Thank you. Believer and investor in mutual index funds not individual stocks. My 401k is 50/50 mid cap index/ emerging markets index funds. My other investments are diversified in index funds also. Large cap/Small cap/Emerging markets index funds. All investments that make up my net worth are split with different companies Over time, index funds outperform investment managers that try to time the market and continually rebalance their holdings looking for that sure best thing. When I was still working before I FIREd the money that I earned and saved and accumulating bigger positions. Diversification is key and if one can live frugally, still be content and can one day pull the trigger to FIRE! Itemize everything you spend and every year I look for ways to save more and invest in the market. I also have cash positions that when the markets does it hiccups then I buy on the dip and ride it out and over time , your net worth will increase. Cheers.

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Stahlmann
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Re: Hi all/ new member from FL

Post by Stahlmann » Sun Aug 04, 2019 7:45 am

so how have you solved health care problem?
are you mobile enough in case of pessimistic climate changes getting real?
anyway, good job and keep going.

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