3,4 or 5 year journey to financial freedom

atush

I like Moneyvator myself, have a read of the basics incl compounding returns.

Happy saving

frugal90

Just spent an hour doing my monthly check in towards target and it has been a reasonable month portfolio up to £288K so progressing nicely.

Trying to get my savings/investment target for the month as high as possible but this month was only 35% compared to 65% last month - a few un-expected bills .

Have a good week all- will check in again towards the end of June as it is due to be a busy month.

jim8888

It's great to plan financially for retirement, but I think it's just as important to make plans for the time you'll have. I've found the following Early Retirement blogs to be quite inspirational with regard to this, although they're a bit American in tone.

http://www.mrmoneymustache.com/

http://earlyretirementextreme.com/

I also really like this blog about an American couple permanently touring the States in an RV (recreational vehicle) with their early exit from the corporate grind.

http://wheelingit.us/

Right now it seems to me you're totally focused on "saving it" but I'd recommend you start to allow yourself to thinking about "spending it" or you might never get around to actually stepping out of work!

frugal90

The motivation for "saving it" comes from a desperate need to become "time free" . We have plans to do many long walks including the http://www.teararoa.org.nz/ and the http://www.cariantrail.com/index.php/online-store and thehttp://www.pcta.org/discover-the-trail/maps-and-guidebooks/ as well as some long distance cycle tours seeking inspiration from here http://travellingtwo.com/e
The problem is getting to the point where you are still "fit enough" and also "financially fit enough " to fund it all. Once we have £400k we will pack it in and start to spend it as you said. If that comes sooner rather than later then yippeee ,we don't live to work we work to live always have done. Have a good week . Frugal

frugal90

quick update on the portfolio -now standing at £277495 - has stood up remarkably well, although we have been buying with spare cash.

Pincher

On the subject of VCTs, Ian Cowie had something to say in the Sunday Times Money section, on 9th August 2015. Page 3, top right.

The European Union thinks VCTs are not risky enough.

It seems VCTs have been investing in safe bets, as in old established mutton, but not risky young lambs up to seven years old. So, you will need to actually risk losing your money soon, as they dispose of safe bets in favour of unknown upstarts.

frugal90

New plan - aiming for Easter 2018.

We aim to keep equity investment going into Dec this year then to start putting money to cash. We need about 20k to pay off our teachers pension buy back of years, but then also to build a cash buffer for equity dips from stop date through to drawing teachers pension.

It is strange but you sometimes get so focussed on the saving you forget why you are doing it. However a few things happened recently with friends that remind me that we have only a certain allotted time span on this earth.

Regards

Frugal

justme111

frugal90 wrote: »

.. With the information/advice I have been getting today I think we are now going to look at summer 2017 when I hit 55 or summer 2018. ..
Frugal

So you realised you had limited time and : (drums rolling ) you still planning for the same retirement date. It's good it is not being pushed further down the line though

frugal90

aiming for Easter 2018, I will be just short of 56 and Mrs nearly 50.
We live a frugal life with cheap hobbies and interests. Will take my pension at 60 then Mrs at 55. Will give us £30 K ish. Will use Sipps and cash to cover the gap. Focus now on getting a cash buffer and beginning to de-risk the portfolio as opportunities arise. Anyone got ideas on the de-risking part - would be happy with average of 5 or 6 % growth on the portfolio -thinking mostly equity income funds some bonds and then peer to peer when they become isa ble next year . Suggestions welcome as I have had some great advice on here.

frugal

chiefie

I am in an almost identical position and de risking now, I don't want to change my retirement date if equities plummet. They will recover and that's a buying opportunity but not in my timeline ! Good luck