We've Updated Our Target Retirement Date
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- Опубликовано: 18 окт 2024
- #financialfreedom #retirementplanning #fire
We've made a change to our originally targeted retirement date! Check out the new date and reasons for the change.
ABOUT US
We are Cherie & Jim, we have 2 grown children and 1 close. We are progressing towards retiring early. We have rapidly accelerated our retirement target ages building a model and living it. We lived paycheck to paycheck, until we took our future in our own hands! We believe in investing in yourself first, make yourself the priority! We also believe in owning your own existence, it's all your decisions. We have made many micro behavioral changes that have resulted in macro results.
We are sharing our journey as it could help others. We are transparent around our progress (shared monthly) and letting you in on our rituals. We cover The Good, The Bad and the "Ugs". We simply want every day to be Saturday.
DISCLAIMER TIME
We are not licensed financial advisors. Our videos are indented to distill information we have lived through. Any investment or financial information we provide is in the context of our journey, before making any investment decisions its always best to check with your financial advisor first.
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Thanks for taking the time to watch! If you are in the retirement planning phase, how often are you reevaluating your target retirement date?
You both are SO CUTE! Really like your vibe (of course when you are talking about retiring early, you would be excited)! But I wish you both the best and enjoy the journey!
@@sarahthompson5066 Thank you for watching and your kind feedback! We are trying to enjoy the journey, although with life we get caught up sometimes too much in the goal that we often find ourselves not stopping to enjoy it. Something we need to work on improving for sure!
@@OurRetireEarlyJourney I know we are all guilt of that--not taking time to live in the moment along the way! But your teamwork on this FIRE goal is so inspiring. One other question. What loyalty level are you with Carnival Cruises? Gold? Just curious. I noticed you had Carnival Stock. Did you know if you own 100 shares, you can apply for an onboard credit on the cruise (depending on length of cruise, etc.) That is the reason I own 100 shares of Carnival and Royal Caribbean--to get the onboard credits when I cruise! Don't miss that perk!!
@@sarahthompson5066 We had no idea about Onboard credit for owning the stock. We currently are Gold level and we own 76 shares of $CCL currently. They are a "flyer" for us. The stock was beat down by Covid and if they continue to pay down their massive debt over the next few years, that stock will continue to rise and rise. Their 'fundamentals" are terrible due to their debt but if they continue to make progress in improving their finances the stock will jump. They are a 3 year hold for us. We've now held them just shy of a year so we will re-evaluate in 2026 if we are going to sell.
@@OurRetireEarlyJourney At the current price, it would only be a little over $400 to buy 24 more shares of CCL and then you would be eligible for the benefit the next time you cruise. It's an onboard credit. Google "Carnival Stock Onboard credit". Even if you get only $100 every time you sail, soon you will get the price back of the 24 shares!
Your both are on the right track planning ahead of time ❤
Thank you for watching and sharing. We are doing our best planning and keeping to plan. It's absolutely worked thus far.
Outstanding. Our current target is March 2030!
Thanks for watching and sharing. Our original goal was 2030 as well but luckily we've been able to move it up!
Hi dear friends, amazing video, big like. Have a blessed week ❤❤
Thank you for watching and sharing!
Love this!! Tennessee sounds like goals. I would love to relocate, but my family, church, and my son's therapists are all here. Excited for your journey!
Thanks for watching MT! We never thought of relocating before Jim’s TBI. We know he just can’t fall again. So if we can get warmer weather and safe money we should do it. The best part is all 3 kids are migrating with us, all as adults. 😊
Great video. Good luck on your journey.
Thank you for watching and for the feedback!
What exciting news!! You guys are ahead of the curve! 😊
Thanks for watching and commenting Julie. We are really trying to accelerate the date!
That’s awesome 👏. We used to live in Tennessee. You’ll love it. 🥰
Thanks for watching! We are beyond excited to see that day get closer and closer.
New Subscriber! So exciting that you are able to move up your retirement date! That is awesome. Hoping to grow our retirement savings and do the same. Looking forward to following your journey, and seeing more of your content. 💕
Thank you for watching, subscribing and for sharing! We will pop over to your channel now.
Very inspiring, thank you ❤❤❤
Thank you for watching and for the feedback!
I'm inspired!
Thank you for watching and for the feedback! We are inspired by your channel as well. It helps us keep on track following journey's like yours!
Congratulations! So inspired by you both!!
Thank you for the kind words Chrissy! We are having fun out here and hopefully some of it resonates.
Fantastic!! Happy for you both. Y'all are getting into the retirement planning sweet part. Necessary expenses dropping and income still high or rising. You've done the hard work to get here and have a great understanding and plan going forward. I wondered if your mid year update would change things. You're doing the right thing by retiring when you can and headed for a great retirement. You're going to love it. Keep plugging and take care. Steve
Thanks Steve! Trying our best to keep plugging away. We’ve learned so much from you and many others the past 6 months. Excited by our results so far.
This is so inspirational, thank you!
Thank you for watching and for the feedback!
Cant wait to hear about your transition to TN.. What you like and dont like....
Thank you for watching and your feedback. We are beyond excited to be there! We will for sure be honest about our transition, ups and downs. 😊
Very happy for you both! This is an inspiring video for sure! Would you ever be willing to do a Q&A? Let us learn a bit more about you both as well as learn a bit more about retirement and such. I would love that.
Thanks for watching and the feedback Libby! Do you mean a live video or just a video with asked questions? We are new at this RUclips game as you can tell.
@@OurRetireEarlyJourney Great question. You can ask in your next video if anyone has any questions and then gather them for that video. That's the way I see it done. Unless you also have an Instagram (which you might want to get if you don't) and then you can ask them there. Live would be cool, but I think it's restrictive until you're monetized?
Thanks for the advice. We are new at this obviously and learning as we go. 😊
Congratulations on moving the date! At your current rate, I won’t be surprised at all to see you take another year off of the table!
That would be amazing! We doing what we can to bring it in even closer. Another year would be crazy but we would jump at that opportunity. Thanks for watching!
Realizing that you can move the date up has to be such a great feeling. Congratulations
It sure is. We are hoping that more hard work over the next year will bring that date up even closer! Thanks for watching.
Terrific update. I certainly agree on the health part as it was a key motivator for me. I do regret not having more tucked away in my taxable account. It was just a couple of years ago that I learned the incredible tax rate for married filing jointly on long term capital gains. If we live completely from that bucket next year, we would pay 0 taxes!
Just incredible.
Your channel is going to really take off soon I am sure. Keep the updates coming. I know you are educating and motivating a lot of people. ❤
Thanks David for the feedback and watching! We are having fun with making the videos together. We wish we would have started a taxable account many years ago as well. We do plan to live off that account solely for 7 years before we start drawing from our 401K & IRAs at 59.5. We are going to need a heftier amount in that account but we have already reached Coastal Fire. That gives us a sense of relief that we just need to cover our expenses until 59.5 and we are retired. We obviously want to retire much earlier, so we keep pushing and start redirecting funds to that taxable account. Watching channels like yours has inspired us to move up the date!
Congratulations on your diligence and savings rates! Wishing you both the very best and can't wait to find out where in Tennessee you'll be retiring! And I've subscribed to your channel. Thank you for signing up for mine! BTW The kids are never off the payroll, and then the grandkids come!
Appreciate the sub & watching the video! As we approach more of the move we will make some updated videos on the construction & move. It's been 2 years already from the start of the process until now. Takes a long time to secure land, contracts to build and to get it done. Please let the kids off the payroll!!!!
😍NICE!!!!! I started with Fidelity retirement planner. I am proud of you both, planning and re-evaluate is very important, I did it a lot. May 31, 2024 was my last day lol, so Happy Birthday.
Thank you Tiger! We typically would only reevaluate at the end of the calendar year but so much has happened in the first 6 months of this year. May has something special to it for both us! We are beyond happy for you as well being retired and we are following your journey closely to see how the transition is. Have a great day.
너무 멋지네요... 퇴직을 축하 드립니다. 주식이 많은 도움이 도셨다니 너무 대단 하셔요.... 앞으로 더 멋진 삶을 살아 가시기를 바랍니다.
Thank you for watching! We are almost in retirement. Working hard to get there.
You guys are way too organized and prepared. 😁 Just kidding, I wish I had been more prepared when I retired. Congrats on being ahead of schedule.
We have learned from watching a lot of RUclipsrs like yourself! We are grateful for everyone sharing their experiences to be able to make our journey better. It's been fun seeing the progress. Hoping our health stays intact so we can actually try to reach this goal successfully. Thanks for watching!
I think your car expense will go down a lot in TN. So much new england auto repair is rust related. Without the salt cars last pretty much forever. I'm motivated by your progress.
That’s a great point! We never thought of that. We downsized our vehicles this month (giving away too much before our July update 😂) so that will help as well with decreasing our auto maintenance spend. Thanks for watching!
😍Goal getters
😊 Keeping that discipline allows the results! Thanks for watching and commenting Lisa!
Congrats on the move up date. I wish we could have retired in our early 50s. My wife and I are 57 and we have saved to the point where we plan on retiring at age 60. We will sell our house and downsize. Both kids are out and working so our only expenses will be discretionary except living. Our concern is going to be healthcare. In fact if it wasn't for healthcare we would do it now.
Thank you for watching Brian! Looks like you are scheduled to retire before us and we hope it happens for you and your wife. Our 3 kids are still on our payroll for the next year or so until we move, as we are relocating and downsizing as well. At that point we will only have 1 left at home until they finish college. Healthcare is always a cost concern. We are "overshooting" our retirement needs financially just in case to cover that. We also need to figure out Health Insurance as we start approaching our retirement date.
Don't forget inflation will be forever present the next 10 years regarding healthcare, home ownership, maintenance, education, etc.. The stock market decline will give us a short period of deflation. But the Western World is in trouble due to money printing and its $135 Trillion debt.
Thanks for watching and sharing! You never know what the future will bring. As retirement approaches its best to start moving in the cash preservation direction to avoid massive swings in the market and to cut excess spending to prepare for unknown levels of inflation.
Just words of advice, don't bring your political corrupt views of your state and screw up TN. Just sayin
@@teddyruxpin7876 We aren’t looking to change anything about TN. 😍