3,4 or 5 year journey to financial freedom

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  • justme111
    justme111 Posts: 3,508 Forumite
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    so you have about 50/60 in stock and the same amount in cash and you want to have even more to get you through a couple of years before drawing a pension ?
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • frugal90
    frugal90 Posts: 360 Forumite
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    portfolio is all in equities- a bit rough at the moment

    I can access my pension at 55 but 0.79 due to actuarial reduction- wife 6 years younger so we are working to cover the gap -
    Early retired in summer 2018 and loving it
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
    edited 28 September 2015 at 5:09PM
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    How old are you now ? From your posts I get distinct impression this topic is very important to you. I noticed what appeared to me as some inconsistencies in your posts , it comes across as if you were stressed and not thinking very clearly. I did not go through your posts with fine toothcomb so apologies in advance in case I am wrong. Earlier in the thread you given some numbers which by my quick calculation show that you can retire already with what you have. Later you kept writing about your journey and it makes me curious why do you think you need to keep accumulating. I am not close to retirement, just started some wooly planning recently so I am interested to see what is your thinking.
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • frugal90
    frugal90 Posts: 360 Forumite
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    thinking is that retirement can be very short or it can be very long so we need enough of a buffer to make us comfortable throughout. I am 53 and my wife is 47 - we reckon we will be in a secure position to stop after my wife hits 50. We can either take my teachers pension when I am 56- actuarially reduced or draw down on the portfolio. Wifes teachers pension can kick in when she hits 55. If I seem stressed it is because I want to make it work.
    Early retired in summer 2018 and loving it
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
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    So you have 7 years before you can collect your pension. What is your number ?
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • frugal90
    frugal90 Posts: 360 Forumite
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    no I could collect it at 55( just under 2 years) reduced by just over 20% in value but will have it for 5 years extra- it is working out when to jump that is the difficult thing
    Early retired in summer 2018 and loving it
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
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    I know , I assumed you waited rill normal retirement age as otherwise too many variables to take into account and it would not be financially advantageous to take it earlu usually. So , what is your number ?
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • frugal90
    frugal90 Posts: 360 Forumite
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    What do you mean exactly by "my number"?
    Early retired in summer 2018 and loving it
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
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    How much money do you need/intend to have in a year in retirement
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • frugal90
    frugal90 Posts: 360 Forumite
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    30k plus travel and emergency monies - plan to do some long trips
    Early retired in summer 2018 and loving it
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