Have we got our sums right?? Appraise our plan.

Suffolk_lass

That all sounds fantastic SS. It really is a magic snowball, isn't it. I have been spending (probably too much) since finishing work. There is a man here today fitting 2 replacement back doors. Both outward opening so that we can maximise the space in the house, and I replaced four tyres yesterday. My word I am hammering that little pot of savings at the moment!

Sea_Shell

Well folks...We've made a decision this weekend.

I will stop work at the end of August 2019 !!! :eek::j:eek::j

It may be before then, if it all kicks off at work over something, but otherwise that's now the plan.

So I have 4 paydays left....so one last hurrah of new cash to the FIRE pot, then it's drawdown all the way!!!

Looking at our current figures, as a bare minimum, we only need to return 2.5% (after inflation) from an overall pot that averages out to be approx 50% equities. Over the last 30 months we've returned 4.7% annual (which excludes inflation, as our spends reflect that, personally, we didn't have any)

Like i've said up-thread, we only need between £1100 - £1300 p.m. at the moment, to maintain our current lifestyle, so any return over and above that is a bonus!!!

I'll probably start a new thread once I've pressed the button and finished, as we move into this next phase of life, both financial and personal.

geoffers4

Exciting stuff! I'm edging towards a similar decision myself...but not quite ready to 'press the button' quite yet.

Keep us posted on how it goes between now and August.

JoeEngland

Sea_Shell wrote: »

Well folks...We've made a decision this weekend.

I will stop work at the end of August 2019 !!! :eek::j:eek::j

It may be before then, if it all kicks off at work over something, but otherwise that's now the plan.

So I have 4 paydays left....so one last hurrah of new cash to the FIRE pot, then it's drawdown all the way!!!

Looking at our current figures, as a bare minimum, we only need to return 2.5% (after inflation) from an overall pot that averages out to be approx 50% equities. Over the last 30 months we've returned 4.7% annual (which excludes inflation, as our spends reflect that, personally, we didn't have any)

Like i've said up-thread, we only need between £1100 - £1300 p.m. at the moment, to maintain our current lifestyle, so any return over and above that is a bonus!!!

I'll probably start a new thread once I've pressed the button and finished, as we move into this next phase of life, both financial and personal.

Congrats on the decision. I'm also aiming to give up FT work at the end of August, but the actual date will depend on my health issue and how !!!!ed off I am with work! Mentally the only thing keeping me going is thinking of the extra money I can put into the holiday account each month.

AnotherJoe

Sea_Shell wrote: »

Well folks...We've made a decision this weekend.

I will stop work at the end of August 2019 !!! :eek::j:eek::j

It may be before then, if it all kicks off at work over something, but otherwise that's now the plan.

So I have 4 paydays left....so one last hurrah of new cash to the FIRE pot, then it's drawdown all the way!!!

Looking at our current figures, as a bare minimum, we only need to return 2.5% (after inflation) from an overall pot that averages out to be approx 50% equities. Over the last 30 months we've returned 4.7% annual (which excludes inflation, as our spends reflect that, personally, we didn't have any)

Like i've said up-thread, we only need between £1100 - £1300 p.m. at the moment, to maintain our current lifestyle, so any return over and above that is a bonus!!!

I'll probably start a new thread once I've pressed the button and finished, as we move into this next phase of life, both financial and personal.

Congratulations !! And before you press the trigger, just a thought, but is that a great time to be retiring? I know its easy to have "one more year" syndrome but retire right now and get a whole summer in, or retire next April or May, and have the dog days of Nov-Feb at work?

For me, it was partly coincidental, but worked out well, i retired end of May which meant i got nearly all my tax that year back so for those two months i was also being paid in real terms much more than normal. And all that went into pension and then i could take it back out again !

bluenose1

JoeEngland wrote: »

Congrats on the decision. I'm also aiming to give up FT work at the end of August, but the actual date will depend on my health issue and how !!!!ed off I am with work! Mentally the only thing keeping me going is thinking of the extra money I can put into the holiday account each month.

That's one of the things that keeps me going, seeing how much extra I can put in my pension/ holiday pot monthly. There are strong rumours of a voluntary redundancy scheme in my work.
Really torn as I am desperate to finish but at nearly 53 could have done with getting another years savings first. Plus I know there will be more redundancies in the future.
Really torn as to whether to go for it or not. Love the thought of no more Corporate BS and having to be a work drone.
Back to my spreadsheets!!!

Sea_Shell

We don't tend to go far during the summer, whilst the kids are off. We actually prefer Sept Oct Nov for getting out and about.

I'm only part time currently, so I don't feel like I'd be missing out on summer. I didn't last year!!!

I don't pay tax, so don't need to worry about tax years/rebates.

AnotherJoe

Well in that case, enjoy your retirement Sea Shell !!

shinytop

Congratulations. I'm going in August too, exact date tbc but probably early in the month. I don't mind retiring towards the end of summer actually. Work is OK in the summer; the commute is a lot better in daylight and I can go for a pleasant stroll at dinner time. Everyone seems in a better mood too. I'll be so happy to not be working I won't care that it's Autumn/Winter.

cfw1994

Congrats on makng the firm decision, I am sure you won’t regret it!
I’d do something similar if I didn’t keep spending money:rotfl: