I realize it has been a while since my last update. What I didn’t realize was just how much of a while it’s been.
In a nutshell, goals I laid out back in January are on track. The only thing that has really changed is our strategy on paying off the house.
We recently decided to pause on that and go back to the usual mortgage amount while pivoting in a direction that looks a lot like FIRE prep. We knocked maybe 10% off the principal from the beginning of the year (the end-of-year goal was 15%).
My husband and I were chatting the other day about life, and I can tell he’s worn out and uninspired. A hard-working but not ambitious type, he doesn’t get fulfillment from his 9-5, and I’m not suggesting you need to. But I can tell that the daily grind is making him wonder–what’s this all about?
We’ve talked about different options, although we haven’t honed in on one. Do we grind to reach FIRE in the next decade? Do we pace ourselves and do a mini retirement? Do we keep our costs as low as possible and work jobs that maybe don’t pay as much but at least cover the basics?
There are a lot of options here and some unknowns on the horizon that make me pause on quitting my job, at least. To be honest, mine is fine. No, I don’t get much fulfillment from it either. No, I don’t like spending my days doing it, but it hones my analytical skills and dumps a nice big paycheck into our checking account every month. I’m hanging onto that until we have a plan to jump ship.
For now, I’ve increased my 401(k) contribution to 9%, a bit above the match amount. Hubby started a new job in June that pays a better salary but has a dismally sad selection of benefits. No 401(k). Starting in 2026, I’m going to try to max mine to the IRS contribution limit. I did this back in 2021 when I was a Fed, which was smart, but cost of living was not as crazy as it is right now. It was definitely easier back then.
I reviewed my course from “Our Rich Journey” to refresh my memory on some core FIRE principles, and I remembered why I did certain things a few years ago when it comes to financial planning. We have some plans for a family visit and a wedding in the Fall, which will likely be expensive, so more aggressive FIRE plans probably won’t get implemented until 2026. All good with me. I like to be able to dream and have the tools to make it happen. TBD.
-K