Plan for Exit 2024

[Exit 2024]

Thanks, Standard Staples
Yes, we are considering Trust also to hold RE and may be cars, but not clear on insurance impact, did you get any issues or additional costs, I am still researching it as our agent can not give straight answer.

 

[Exit 2024]

Q2 2024 update

- We finished Q2 at $2,794k, 93.1% of the original (low) target, green quarter with +$46k and that is very mild results, although I am still happy that it is our all time high with sizable YTD gain.

-End of Q2 2024 was our original target date to FIRE, but we missed even low target, so a little bit sad but we saw that coming are chugging along

- Cash position is red, as all available money now parked at Vanguard taxable, their Federal MM fund has 7days SEC yield as of 06/28/2024 sits 5.29%. Saving account is zero. Negative number is from one credit card where we just float balance at 0% till January 2025.

- My HCE status was removed and now I contribute to 401k with target to max it out this year.

-HSAs balances are getting rather large and I started to questions if it is worth to continue to contribute to them. Created separate topic for that discussion as I am trying to come up with a plan on how to deal with such "problem". Here is a link if anyone interested Overfunding of HSA

- We gradually increasing our travel, this year we already went for a month to the HHI, may go to Chicago for couple days in July, booked trip to the London, UK in August/September and one more booking in December to the Playa del Carmen, MX. Testing FIRE waters as we plan to travel a lot more as soon as we stop working. But right now as we both work remote we are trying to do much more than just normal vacation travel.

 

[Exit 2024]

Actuals without RE vs High and Low targets.

Below Low target and missed original FIRE date by 2-3 quarters based on linear projection.

Below High target still by a lot. Now it is our main target to achieve we are tentatively looking to the end of 2025 but need markets to cooperate.

 

[Standard Staples]

Thanks, Standard Staples
Yes, we are considering Trust also to hold RE and may be cars, but not clear on insurance impact, did you get any issues or additional costs, I am still researching it as our agent can not give straight answer.

No extra costs on this side - and I'm not a lawyer, but I'm surprised they would consider charging you more for assigning assets to potentially go to a trust. We just had to update the beneficiaries to be Spouse primary and Trust secondary.

 

[Exit 2024]

No extra costs on this side - and I'm not a lawyer, but I'm surprised they would consider charging you more for assigning assets to potentially go to a trust. We just had to update the beneficiaries to be Spouse primary and Trust secondary.

Ah, I see , you did not move assets directly to your trust.

I was thinking to change deeds to the trust and possibly car titles also. Non of those are allowed any beneficiary designations.
I am not concerned about accounts, all have beneficiary designation for Spouse as primary and Child as secondary now.
Exception is TreasuryDirect.gov - it does not allow secondary beneficiary, will cash all out as soon as we leave workforce as there a lot of accumulated over the years interest .