Comments on: A Look Into My 2013 FIRE Notes https://modernfimily.com/a-look-into-my-2013-notes/?utm_source=rss&utm_medium=rss&utm_campaign=a-look-into-my-2013-notes Helping other families and individuals reach financially Independence Sun, 31 Dec 2023 11:03:18 +0000 hourly 1 https://wordpress.org/?v=6.5.3 By: The Sunday Best (12/31/2023) - Physician on FIRE https://modernfimily.com/a-look-into-my-2013-notes/#comment-6534 Sun, 31 Dec 2023 11:03:18 +0000 https://modernfimily.com/?p=1213#comment-6534 […] Modern Fimily shares a Google Document she’s written in 2013 where she came up with a game plan on how to reach FI. This insightful piece proves that while things don’t always go according to plan, it pays to think ahead regarding your finances: A Look Inside My 2013 Brain. […]

]]> By: Court and Nic https://modernfimily.com/a-look-into-my-2013-notes/#comment-6464 Sat, 09 Dec 2023 15:58:08 +0000 https://modernfimily.com/?p=1213#comment-6464 In reply to Bob Wen.

It’s definitely wild to see all these thoughts that I piled together 10 years ago! That’s a great point Bob – I definitely am proud of the things I was thinking about in my 20s when so many people, like you mention, are focused on the here and now and the conventional lifestyle.

I really do miss my Corolla and think we will end up with another one in the future when we don’t need car seats anymore. Loved my Carol! So glad to hear your 13 year old one is going strong, so wonderful!

]]> By: Court and Nic https://modernfimily.com/a-look-into-my-2013-notes/#comment-6463 Sat, 09 Dec 2023 15:54:41 +0000 https://modernfimily.com/?p=1213#comment-6463 In reply to Chrissy @ Eat Sleep Breathe FI.

Our car journey is quite comical but also dizzying when I actually look back on it! Yeesh! Used (in general) is definitely where it’s at! We love finding little wins at our local thrift store.

I’m hoping that last comment is what sticks with readers. There are soooo many ways to continue to optimize (if you choose to) to help propel your financial picture if you’re willing to dig into it.

]]> By: Court and Nic https://modernfimily.com/a-look-into-my-2013-notes/#comment-6462 Sat, 09 Dec 2023 15:52:52 +0000 https://modernfimily.com/?p=1213#comment-6462 In reply to Chris.

So awesome Chris! It is pretty cool to find these tidbits of thoughts to look back on. I’m still so thankful to have stumbled upon this concept/community 10+ years ago.

]]> By: Court and Nic https://modernfimily.com/a-look-into-my-2013-notes/#comment-6461 Sat, 09 Dec 2023 15:51:44 +0000 https://modernfimily.com/?p=1213#comment-6461 In reply to Robert.

Great points Robert! Appreciate the time you took to point these various thoughts out. You’re right, I need to be a bit more gentler on 2013 me haha. I am proud of putting all these plans on paper and focusing on these bigger picture topics even if they didn’t pan out 100% as planned.

]]> By: Court and Nic https://modernfimily.com/a-look-into-my-2013-notes/#comment-6460 Sat, 09 Dec 2023 15:48:05 +0000 https://modernfimily.com/?p=1213#comment-6460 In reply to Cassandra.

So cool to hear others have these creations to look back on too, love it! Wild that yours has been pretty spot on! Type-A planners unite! 🙂

]]> By: Bob Wen https://modernfimily.com/a-look-into-my-2013-notes/#comment-6456 Fri, 08 Dec 2023 05:42:52 +0000 https://modernfimily.com/?p=1213#comment-6456 Hi Court, “A Look Inside My 2013 Brain” That’s scary! Your early plan shows you were made for FIRE.

You may not have predicted everything spot on, but you certainly had a clear vision and a realistic plan. That’s impressive, especially for someone in their 20s. Kudos to you!

I wish we’d come up with a game plan earlier than we did. By age 24 we were deep into a conventional life-style: a kiddo, mortgage, car loan, and a business. My mind was focused on how to get through tomorrow. It makes me shudder just thinking about it.

Ah, Toyota and Honda; the vehicle of choice for many in the FIRE community. Our Corolla of 13 years is still going strong at 243,000 km.

]]> By: Chrissy @ Eat Sleep Breathe FI https://modernfimily.com/a-look-into-my-2013-notes/#comment-6443 Tue, 05 Dec 2023 04:26:36 +0000 https://modernfimily.com/?p=1213#comment-6443 I agree with your comment about chilling out because you'll usually get to FI faster than estimated. That was the case for us. As you said, there are so many factors that can swing favourably your way and speed up your progress.]]> This was such a fun post! I had no idea you had that many cars! But so impressed by how well you did with them, even with the lemon and one you paid too much for.

Used is where it’s at—not just for cars but all kinds of things! I always love selling used stuff for the same or just a little bit less than what I paid for it. 👍

I agree with your comment about chilling out because you’ll usually get to FI faster than estimated. That was the case for us. As you said, there are so many factors that can swing favourably your way and speed up your progress.

]]> By: Chris https://modernfimily.com/a-look-into-my-2013-notes/#comment-6433 Sun, 03 Dec 2023 16:07:56 +0000 https://modernfimily.com/?p=1213#comment-6433 It’s always great to find these old notes on plans and savings rates etc. I found an note pad sheet I wrote out in 2012 I believe it was and have kept it in a folder because it is such a nostalgic reflection on our FI journey. Thanks for sharing.

]]> By: Robert https://modernfimily.com/a-look-into-my-2013-notes/#comment-6419 Thu, 30 Nov 2023 16:27:44 +0000 https://modernfimily.com/?p=1213#comment-6419 Haha, I think this is great! I also cringe a bit when I find old planning info and documents. Few thoughts on a couple things in here:
– I’m a big fan of being conservative with assumptions. You suggest that you were overly conservative, but a lot went right for you as well.
– What if you had a child with special needs? $20k/yr could easily have been insufficient
– Assuming no pay raises… they are never guaranteed and lots can happen. Disability, getting laid off, deciding to go on 1 income vs 2.
– Seems like you were FIRE-aware in 2013 but hadn’t fully baked it into your plan. In the years that followed you attacked your expenses in ways you hadn’t conceived in 2013. This increased your savings rate and accelerated your retirement plans. Put another way, your plan actually changed (I think) between 2013 and now, I don’t think it’s fair to call 2013 Court overly conservative on that front.
– Estimating that your freedom number was $900k, that’s not too far off from your actual number, right? Especially after accounting for inflation since 2013 (not sure if your chart is in 2013 or future dollars).

Ultimately I think this is a very interesting look into your planning process and the possibilities that exist by staying flexible, writing your plans on paper, and balancing conservatism with reality. Be gentle on 2013 you, I think she was closer to the mark than you say, haha, and her conservative assumptions gave you a lot of options and room for error. Very thought-provoking, you’ve got me thinking. Thank you!

]]>