Learning to walk before I run

greent

South_coast said:

I think I've linked to this before (although maybe not on Ed's diary 🤔), but you've definitely just reminded me of this: https://affordanything.com/what-most-people-dont-know-about-pavlovs-dogs/

Really great link, Sc - I've saved it, as I'm sure others will appreciate it. Thanks 😊 x

edinburgher

Dear all, I'm not avoiding responding, it has just been a busy couple of days and there was a lot of thoughtful input to get through. 

I managed three hours of overtime last night, which was a bit much but I've now completed the five hours I try and do each week. I've also had a busy couple of days on Prolific. Looking forward to minimal overtime this weekend and am planning an overtime-free week the week after next

Month-end figures look healthy thanks to equities recovering somewhat. Mrs E's SIPP has passed £80,000 for the first time and we now have £170,000+ in DC pensions. We are up c. £7,000, £5,000 of which is "strict" NW increase (i.e. not DB pensions/home equity etc.) It really shows you the power of the "snowball" when your pensions go up by 50% more than your wages for the month!

Will get through my busy last day of the working week and respond to some of the points raised soon.

edinburgher

Managed to rush around the supermarket on my lunch break.

• £153.57 OPed <--- Gimme back my balance, Mollusc, my need is greater than yours! 
• £11.99 paid into my S&S ISA dividends pie, £25 slice of pie purchased

Goodbye July

edinburgher

In no particular order, sorry I can't @ every one of you, I'd be here all day.

1) I don't expect to downsize and realise any money when the girls move out. I expect to "right" size, but we'll probably spend as much on somewhere smaller, have always fancied a nice drawing room conversion in the West of the City.
2) The private sector feels like a foreign land to me. Apart from starting out type jobs, I've always worked in quasi-public sector (or directly public sector) roles.
3) I don't think the "you can't reduce your hours ever" thing will apply forever. I do, however, think we have a management team who are mad keen to keep every hour of staff time they can until a current issue with a massive backlog is addressed. This is also why there is overtime. The finger in the air estimate is that overtime (and the backlog) will be gone in 18 months, could try again then. I don't think the concern is overtime cost per se, it's reduced staff time that's the fear.
4) A job in a neighbouring local authority would be a possible but I have somewhat finessed my current role. It's a bit niche, I work for the LA with what I believe is currently the best pay in Scotland.
5) We do have savings (although we don't really save). We currently have £20k+ in cash ISAs and savings accounts, but we also have c. £13k on CCs at 0%. The plan (such as it is) will be to protect the savings while shrinking the debts from new earnings. I also have a small personal S&S ISA pot, but it's only £700 or so at present.
6) My AI experience is grunt stuff (can't say more as I ticked a box saying I wouldn't), so not really transferrable. I'm not a tech guy.
7) I'm fairly sure I want to retire early even if I find a "fun" job. I've hated paid work since I was 15
8) I was moved that people shared their own stories of burning out and those of family members. I make no bones about the fact that I was in a bad way last year. Never thought about self-harm or felt at risk of a heart attack etc., but knew I couldn't cope. I wouldn't say it's better now, but I cope better with the things that I can't control. It's why I haven't made any radical changes, evolution not revolution and all that? I know that it will get better and it may get worse, I haven't closed my mind to changing careers. Oddly enough, I do feel stronger for having burned out. I no longer get the chronic anxiety that led to me being unable to cope with the overwork and personality clashes that I was living through.

Jesus, what a wall of text! 

Long story short, I'm willing to change but think it will need to be pre-planned and incremental. I'm going to keep making OPs, trying to build our savings and ISA investments while whittling down the debt. I'll start halving the overtime money between saving and general living, that will at least soften the blow if it's gone in 18 months. I'll keep looking for jobs and am much happier in 2025. 

It's important to remember that I have two teeny terrors monopolising whatever time I'm not working, something that all parents can relate to (and anyone else who has caring commitments of any kind).

*Edit: and thank you all, MFW people are so my tribe

KajiKita

“ I'm willing to change but think it will need to be pre-planned and incremental.”

That’s all I was hoping for 😊

this was good to read too 😊
” I do feel stronger for having burned out. I no longer get the chronic anxiety that led to me being unable to cope with the overwork and personality clashes that I was living through.”

“ two teeny terrors” …. You must mean your two adorable, butter-wouldn’t-melt, gorgeous, cherublets … …?? 🤔😉😂😊

KK

rtandon27

@edinburgher - thank you for taking the time to reflect and also give us an essay 😅 - as a member of your 'tribe' I can say that the self-reflection is what was hoped for and it's lovely you felt supported enough to share so freely!

South_coast

Hi Ed, thanks for the reply. My 2p-worth, and then I promise I will shut up for a bit 🤣!

Unless you're planning on using the pensions as a tax-efficient vehicle to generate a lump sum for the mortgage, then I do genuinely think you can ease off a bit and not let a pension be the deciding factor in your employment. You already have way more than I do at the same age (though I will concede that I am already MF and don't have any bundles of joy that I might want to make provision for), you have a minimum of 16 years more compounding to make those figures better, plus any new job will also come with a pension! I think what I'm saying is, don't sweat perfect to the expense of good

Suffolk_lass

Well done ed, just well done

edinburgher

August is our last substantive childcare bill (the state is stepping in with our free provision from the middle of the month)! £108 Vs the usual £400+ and this will fall again next month to c. £70, which is probably about 10% more than we'll need:)  

KajiKita

Oh, that is such good news 😊

Really pleased for you 😊👏

KK