I seem to change my mind annually about my retirement date – not just when it is based on math, but if I even am locked into a date or a number. Once again I’ve changed my mind 🙂 . As I’ve mentioned, current numbers including my raise show me solidly retiring in 2020 assuming average market growth and the same amount of stretch bonus as I received last year. If I continue to receive a 4% raise each year (as my boss claimed we would) my date is at the beginning of November with 7% market returns, October with 8% and mid-August with aggressive 10% growth.
Mom and I are planning to celebrate and kick off my retirement by traveling around Australia and New Zealand for a month before flying home in the Etihad Apartments. To do this in November 2020 as planned we would have to get our tickets (since we’re using points) in December 2019. Only 20 month away shockingly…My original plan was to assess the situation that November and decide if I’m pulling the trigger or not. There would basically be no going back after that (though I guess I could ask for a 1 month unpaid sabbatical…)
However you know that I like set targets. I like countdown clocks. So as of today I am planning to retire on Friday, October 2, 2020 when I’m still 30 years old. I’m optimistic about the forecast and it looks like the math will work. If it doesn’t, I’ve been revisiting my extensive list of side hustle suggestions and ideas. If I end up not having everything I planned to by October 2, 2020 I could use these side hustles to supplement my income and between that, laying low and checking out low cost of living countries (which I was planning to do anyway) I’ll be fine and have a kind of CoastFI situation. This timing would also allow me to finish up the fiscal with my company, do an annual review and receive by quarterly target (and hopefully stretch) bonus.
Having a set date to look forward to also helps with my mental health. My current job is the best I’ve had in a lot of ways, but it’s still a job that keeps me from doing what I want to most of the time while making me too tired to do what I love in the remaining time. Having a solid date to look forward to helps a lot. Let the countdown begin!
THE COUNTDOWN CLOCK
642 Workdays Remaining
931 Total Days Remaining
133 Weeks Remaining
30 Months Remaining
Note: The impetus for this particular change was MMM’s latest and amazing article Money and Confidence Are Interchangeable.