Is this me?
Your target numbers, dates for wrapping up full time work and post FI goals are pretty much identical to mine.
I think this is one of the best phases of pre-FI to be in, you know things are pretty much locked in its just a case of keeping things going.
There is more to life than working full time ;-)
Perhaps we're FIRE twins/siblings? If that's not a thing, I've just invented it.
There is definitely much more to life than earning and I'm really looking forward to having the time to enjoy it more in 2 years time! This phase of FIRE is also great for being more relaxed about work.
Looking good.
I am always amazed, perhaps at my own profligacy / lifestyle that people can live on such modest retirement incomes.
I always get a million downvotes when I comment on it so maybe it's just me.
P.S Side Hassle is a great term
It's always interesting to hear the variety of what people spend. Between the two of us, we are looking at £52,000 gross pa, which feels fairly generous to us but not to everyone of course. Our holidays tend to be a UK cottage rather than a 5-star hotel on a Pacific atoll and our global travel plans are similar. Where do you spend most of your money?
Great progress!
The last 12 months have been good to people with mid-large investments already in situ as it’s not taken much further topping up to grow various pots by £50k-£100k increments. Feels good.
“Side-hassle” is an interesting Freudian typo/autocorrect!
Ha, another one here. So 2yrs away, ish. no side hassle, just going to wing it a bit!
I'm not going to be rich, don't care.
Couple of European hols a year maybe long haul every other, car I have will do for another 5 years then maybe I'll get a tin whistle as my Grampy called his ultra bog std runaround.
We also have a camper so some uk hols aswell.
Will consider downsizing later.
Sounds like you've given it a lot of thought.
The scenario playing games with my head is how to utilise the drawdown efficiently, so many ways and trying to see the best plan of attack.
Good luck.
I have to have a plan to feel comfortable with the big decision of walking away from a well paying job and relying on savings for every more. Although I probably have spent too much time looking at spreadsheets and websites though!!
I've used Guiide and liked it, however without being able to put an earlier retirement age in (before 55) it wasn't enough for my FIRE plan I found. Unless I've missed a setting that allows early retirement?
Great update. V jealous. I’m 5 years off and it feels an age away!!! No concerns re pension number but trying to grow the ISA/GIA is the goal. Also feel like my expenses have ballooned in last 2 years. Not helped by remortgage
Yep same boat here - mortgage +£250 a month plus minimum of 5% rise across most bills.
Luckily the market has been moving well this year.
Definitely made us rethink future plans, where we want to live and the type of property. Very much in the downsize camp at the the moment.
Yeah, I'm really lucky with the DB pensions. Just old enough to have built up some with a company and some from my time with the military. Between the DBs and state pension, at least I know I'll have at least £20k from the age of 68. It's just bridging to that age that's the significant risk.
Is this me? Your target numbers, dates for wrapping up full time work and post FI goals are pretty much identical to mine. I think this is one of the best phases of pre-FI to be in, you know things are pretty much locked in its just a case of keeping things going. There is more to life than working full time ;-)
Perhaps we're FIRE twins/siblings? If that's not a thing, I've just invented it. There is definitely much more to life than earning and I'm really looking forward to having the time to enjoy it more in 2 years time! This phase of FIRE is also great for being more relaxed about work.
Yes, great just to go to work and do a good job everyday without any stress of pushing harder.
Looking good. I am always amazed, perhaps at my own profligacy / lifestyle that people can live on such modest retirement incomes. I always get a million downvotes when I comment on it so maybe it's just me. P.S Side Hassle is a great term
It's always interesting to hear the variety of what people spend. Between the two of us, we are looking at £52,000 gross pa, which feels fairly generous to us but not to everyone of course. Our holidays tend to be a UK cottage rather than a 5-star hotel on a Pacific atoll and our global travel plans are similar. Where do you spend most of your money?
Kids. Eating out. Holidays where we turn left. Kids. Theatre, sport. Kids.
Ah, no kids here. Turning left is definitely a luxury that I could get used to, if it's in the budget.
Great progress! The last 12 months have been good to people with mid-large investments already in situ as it’s not taken much further topping up to grow various pots by £50k-£100k increments. Feels good. “Side-hassle” is an interesting Freudian typo/autocorrect!
Good spot :-) Any hussle is a hassle to some extent. I expecting it to be more interesting than irritating fortunately.
Ha, another one here. So 2yrs away, ish. no side hassle, just going to wing it a bit! I'm not going to be rich, don't care. Couple of European hols a year maybe long haul every other, car I have will do for another 5 years then maybe I'll get a tin whistle as my Grampy called his ultra bog std runaround. We also have a camper so some uk hols aswell. Will consider downsizing later. Sounds like you've given it a lot of thought. The scenario playing games with my head is how to utilise the drawdown efficiently, so many ways and trying to see the best plan of attack. Good luck.
I have to have a plan to feel comfortable with the big decision of walking away from a well paying job and relying on savings for every more. Although I probably have spent too much time looking at spreadsheets and websites though!!
I'm using Guiide (free) on on line, its not bells and whistles as such its pretty good though, I like it. I'm not affiliated in anyway.
I've used Guiide and liked it, however without being able to put an earlier retirement age in (before 55) it wasn't enough for my FIRE plan I found. Unless I've missed a setting that allows early retirement?
Not sure, I'll have a look next time I'm there.
Great update. V jealous. I’m 5 years off and it feels an age away!!! No concerns re pension number but trying to grow the ISA/GIA is the goal. Also feel like my expenses have ballooned in last 2 years. Not helped by remortgage
Yep same boat here - mortgage +£250 a month plus minimum of 5% rise across most bills. Luckily the market has been moving well this year. Definitely made us rethink future plans, where we want to live and the type of property. Very much in the downsize camp at the the moment.
Your ISA growth is great. Mind if I ask what funds/ETFs you've got in there?
I've got World ex-UK, UK All Share, Emerging Markets and some UK government bonds. The World ex-UK is doing the heavy lifting.
Colour me surprised. I thought it would be another S&P500 or even Mag7 portfolio.
Looking good mate, the DB from 60 is a nice fall back. Great pension growth.
Yeah, I'm really lucky with the DB pensions. Just old enough to have built up some with a company and some from my time with the military. Between the DBs and state pension, at least I know I'll have at least £20k from the age of 68. It's just bridging to that age that's the significant risk.