by July has been a month of reflection and recalibration for our FIRE journey. As we update you on our Nuestra Casa Fund (NCF) progress, we have some big news to share that’s shaking up our plans.
NCF Update: A Big Jump Forward
First, let’s dive into the numbers. This month, we’ve seen our biggest jump yet in our NCF, reaching 39.1% of our goal. That’s an 8.9% increase from last month, putting us ahead of schedule. Our mid-year bonuses gave us a nice boost, but it’s important to remember that these windfalls won’t happen every month.
| Year-to-date NCF Update | |||
| Month | Percent of Goal Met | Benchmark (the goal we set) | Percent Increase towards 100% |
| January | 23.9% | 23.9% | Started tracking this goal. |
| February | 25.1% | 26.5% | 1.2% |
| March | 28.5% | 29.2% | 3.4% |
| April | 28.8% | 31.8% | 0.3% |
| May | 30.2% | 34.5% | 1.4% |
| June | 39.1% | 37.1% | 8.9% |
The Big Announcement: Changing Our Retirement Plans
My father always says, “It’s for the wise to change their minds.” This wisdom has never felt more relevant than now.
After our recent three-week trip to the Dominican Republic, specifically two weeks in Punta Cana, we’ve come to a surprising realization: we no longer want to retire there.
Why the Change of Heart?
Punta Cana has been our dream retirement destination for a while now. We’ve been exploring the area, taking notes, and imagining our life there. But sometimes, reality doesn’t quite match up to our dreams.
Don’t get me wrong—Punta Cana is a fantastic vacation spot. The beaches are beautiful, the weather is warm, and the laid-back lifestyle is appealing. However, after this extended stay, we realized it might not meet our long-term needs and desires for retirement.
The Impact on Our FIRE Plans
This decision changes almost everything about our FIRE plans. Staying in the U.S. means higher living costs, especially when it comes to healthcare. We’re now faced with some big questions:
- Can we adjust our living expenses to meet our withdrawal rate in early retirement?
- Will we need to save more, work longer, or consider side hustles in retirement?
- Are we discovering holes in our original plan?
These are questions we don’t have answers to yet, but we’re diving into the research. We’re exploring potential locations within the U.S. and crunching numbers to see how this impacts our budget and timeline.
What Hasn’t Changed
One thing that hasn’t changed is our commitment to smart financial management. We’re still focusing on building passive income streams and keeping our stock exposure to no more than 50% of our net worth as we near retirement. We’re also aiming to have our future home value represent only 15% of our net worth, aligning with strategies used by the wealthy to maintain financial flexibility.
Embracing Flexibility in the FIRE Journey
This shift in plans is a reminder of the importance of flexibility in the FIRE journey. It’s okay to change your mind, to reassess your goals, and to pivot when necessary. In fact, it’s crucial to your long-term happiness and success.
As we navigate this change, we’re excited about the possibilities it opens up. Yes, it might mean working a bit longer or adjusting our lifestyle expectations. But it also means we’re making decisions that truly align with what we want for our future.
Well that is good you figured out you don’t want to live in PC pre-ER. Would have been a bummer to move there and then figure that out. Of course, I am sure good experiences/memories would have come from it.
that’s great this month put you ahead of schedule. Much enjoying your blog. 🙂
Hi –
Yes, that would’ve been a bummer. I’m glad that we kind of “test drove” the area before we made a move. Our plan was to rent for a year after we retire and see how we felt about staying long term, to keep us from buying in a rush. After all, selling a property abroad it’s not as easy as in The States. So no retiring there for us but we do look forward to long vacations in Punta Cana with no strings attached.
I’m glad you’re enjoying the blog. It’s always great to get feedback from our readers. Thank you for commenting.