The Intersection of FIRE and Disney

[QueenIsabella]

Iceland is our favorite place to travel to and we are also a family of 6 plus significant others, so we usually travel in parties of 8 or more. I should have a couple trip reports in my signature, if you want to check them out. We are headed to the Faroe Islands this summer.

DH and I are 47. I took a sabbatical at 43 and haven't yet returned. DH is still working with a target of 52-55 for retirement. We are very big into travel and really maximize points and miles as much as possible. Something we have been thinking a lot about for the next ten years is selecting travel destinations that will be tougher to do when we are older and prioritizing them for now.

I will have to read your trip reports when I get some time! Our big hang-up right now on Iceland is, the daughter most anxious to go is afraid of snorkeling! She has anxiety, just can't manage it (I found out in Hawaii...). So, our deal is, she has to overcome this fear before I book the trip. On the good side, we have a modest in-ground pool, so she can practice in the back yard for as long as she needs. The whole family is willing to do whatever to help her.

Also on our short list: Alaska (land/sea), and a trip to take our older son to Italy--he's never been, but his siblings have. We're big fans of Tauck's tours.

 

[cheryl.UK]

Without realising even that FIRE is a thing (never heard of it over here in the UK) I think I'm about to achieve it albeit at 59. I've been saving hard, topping up my teacher's pension, paid off my mortgage, car loans, credit cards, DVC, remodelled the house, topped out my state pension and I'm about to retire early with money in the bank and a yearly income which will still take me to Disney and afford a fairly comfortable life if I don't go mad. Have I missed anything?

 

[Sjm9911]

You always miss something and second guess everything. Just run your numbers through a fire calculator. That gives you a bit of assurances.

 

[Sjm9911]

I like this one. But it takes a learning curve to use it. https://www.firecalc.com/

 

[Frwinkley]

Without realising even that FIRE is a thing (never heard of it over here in the UK) I think I'm about to achieve it albeit at 59. I've been saving hard, topping up my teacher's pension, paid off my mortgage, car loans, credit cards, DVC, remodelled the house, topped out my state pension and I'm about to retire early with money in the bank and a yearly income which will still take me to Disney and afford a fairly comfortable life if I don't go mad. Have I missed anything?

How long have you been teaching?

I changed careers mid-life (early 40s) and just retired from teaching after 20 years this past year. My pension covers about 2/3rds of our monthly expenses (my DH has a very small one so that helps). I too saved hard (no debt, no mortgage) and saved enough cash to supplement our pensions until social security. We do not have to touch any of our retirement assets, which is especially good in this market.

Retirement is wonderful! I loved my job immensely, but by the end, I was ready to go. I adore my coworkers and keep in touch with them, having lunch, dinner, etc. I've been back to school a few times to volunteer for events....really makes me realize that I'm glad to be done!

You have worked hard! Enjoy your retirement!

 

[wabbott]

Without realising even that FIRE is a thing (never heard of it over here in the UK) I think I'm about to achieve it albeit at 59. I've been saving hard, topping up my teacher's pension, paid off my mortgage, car loans, credit cards, DVC, remodelled the house, topped out my state pension and I'm about to retire early with money in the bank and a yearly income which will still take me to Disney and afford a fairly comfortable life if I don't go mad. Have I missed anything?

I would suggest that you keep an accurate record of you outgo, especially credit card transactions. Nothing can upset a budget quicker than a big credit card monthly bill that you didn't anticipate.

Simply keep your cc receipts and when you get home from shopping, record them on a spreadsheet. This will keep you up-to-date on what's going out and what for.

Do the same for your checkbook on another page of the spreadsheet that duplicates your paper check register.

No less an authority on money than John D. Rockefeller - the richest man in the world - was a meticulous record-keeper of every transaction he made.

 

[Cfabar1]

I would suggest that you keep an accurate record of you outgo, especially credit card transactions. Nothing can upset a budget quicker than a big credit card monthly bill that you didn't anticipate.

This is so true.... we keep thinking this will be the month our savings can start growing again and we keep getting zapped with medical bills... Some from events a year ago that were just billed now! Am thinking we will have one more month (after this month's unexpected/expected $1200 payment) of large ones and they will finally go away! Fingers crossed!

Simply keep your cc receipts and when you get home from shopping, record them on a spreadsheet. This will keep you up-to-date on what's going out and what for.

Yes, we have started doing this - and I know it is controversial for some on this board, but we are also trying very hard to limit the number of CCs we actively use. The extra 1% in rewards I think is offset by the psychological complication of seeing different amounts on different bills.

Do the same for your checkbook on another page of the spreadsheet that duplicates your paper check register.

Great idea!\

I am wondering for DisneyFIRE people do you have a set percentage of you income you try to budget for vacation/travel? And if so, do you designate a certain percentage specifically for Disney of your total income? When we started with Disney our only costs were a Pixie Pass and on occasion a nice meal and/or some merchandise (not a lot). It was an inconsequential percentage - but it has definitely grown since then.

 

[trenty]

Simply keep your cc receipts and when you get home from shopping, record them on a spreadsheet. This will keep you up-to-date on what's going out and what for.

There are many apps that can do this if you aren't comfortable with spreadsheets. I like EveryDollar - it's free and lets you record money coming in and going out (categorized) each month so you know what is left at any given time.

 

[wabbott]

There are many apps that can do this if you aren't comfortable with spreadsheets. I like EveryDollar - it's free and lets you record money coming in and going out (categorized) each month so you know what is left at any given time.

Looking @ that website, here's a very simple tutorial of what budgeting is all about. I was once told by a managerial type years ago, "If you can't measure it, you can't control it." A budget is but a measuring tool.

https://www.ramseysolutions.com/ramseyplus/everydollar/learn

 

[wabbott]

I am wondering for DisneyFIRE people do you have a set percentage of you income you try to budget for vacation/travel? And if so, do you designate a certain percentage specifically for Disney of your total income? When we started with Disney our only costs were a Pixie Pass and on occasion a nice meal and/or some merchandise (not a lot). It was an inconsequential percentage - but it has definitely grown since then.

For us, not exactly a set percentage, but more of a 'not to exceed' amount. We're at the age where time remaining is a very big consideration, too. Spend it, or leave it for the kids? I see many, many folks still pinching pennies, even though they're well off.

Being the richest man in the graveyard doesn't appeal to me.