The Goal

Alright, so I gave you context as to where I fall in the financial independence range. Now, I present you the goal (Summer 2016):

The Goal

  • Years to financial independence: 12
  • Investable Assets: $3.1 million (today’s $2.2m equivalent, with 3% yearly inflation)
  • Debt: Zero (inclusive of mortgage and car)
  • Annual Spending: $75k for retirement ($107k equivalent then with 3% inflation). See accumulation year expense goals here.
  • College Savings:  $100k each 529 account $75k in 529s plus $100k in post tax accounts by the time they reach college (total, not per child).
  • Travel After Reaching Goal: Sell everything we have and go live anywhere in the world as a way of living, currycracker style!

Here is my starting point (past yearly incomes and current assets), and here is what we need to do to achieve our goals and how we plan to do it, including all our assumptions.

Lastly, we do have will and life insurance plans here, which will change as we grow. Below is the graphical representation of the plan – you can follow actual progress here.

The purple numbers represent where I was October 2016 when I started tracking this way and what I consider a ‘prep’ year for the plan. From 2017 onward it will be tracked from day 1 hopefully.

fire-plan-vs-actuals

debt-repayment

Let’s get to work!

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