Getting FIREd up 😀

edinburgher

You might be able to make up the 80/20 cheaper if you use individual funds and rebalance periodically. It's faffy tho. I'm also pretty sure that none of the multi funds used inflation-linked gilts? 🤔 Could be wrong

South_coast

I am definitely not up for faff 👎 Plus the % fees aren't really on my radar at the moment, as I'm being stung for a flat £4/month until I get to £32k (some way off). I've also just remembered that the £33k in the cash LISA (estimated £45k by the time I can access it) will perform the same function as bonds in the respect that it'll never do anything spectacular, but will always be there. I suppose the risk is a big market fall in between the time I start drawing on S&S/pensions and the point I can access the LISA 🤔

South_coast

First of the month round-up….

• Savings for retirement: £151,482.21 (UP £1,656.59)*
• Repaying pots until: August 2026
• Clear car finance: May 2027
• Getting FIREd up starts: June 2027
• 7.58 years to go

* Actually, it will be a bit more than this, as the site for my current pension is down for maintenance (very bad timing!) I have passed the £150k for retirement line even without this though, so a good month either way 😀😀😀

Now off to ditch my gilts, before Ed tells me it's a bad idea….😅😘

edinburgher

I'm entirely in favour of you ditching your gilts! Should also invest some of that cash mountain in your LISA! 😮

South_coast

👍

But the cash stays. No DB, so something needs to be guaranteed ahead of the SP. No more new money going in now though

TallGirl

I love the finance chat I too was persuaded not to bother with bonds right now I do have premium bonds instead of cash in the bank I like excitement every month. Well done on getting this close keep going!!

edinburgher

I use a fund that contains bonds to help limit the maximum drawdown of investments during periods of turmoil. Of course, this would still be scary in an "08" scenario. My current pensions are:

1. Main DB pension
2. Small preserved DB pension
3. SIPP
4. AVCs

1 and 2 will pay for my retirement, 3 and 4 will be needed to make early retirement possible. In that sense, I'm quite sensitive to losses relating to 3 and 4. Hence bonds 😊

Sorry to steal focus SC, I wanted to provide an example of how I understand your "no DB" comments in relation to cash.

South_coast

Thanks both 😀 And no need to apologise, Ed. It's really useful to hear other peoples' plans.

I'm planning on doing a bit of a re-work of my figures when I have some time off next month, as it's a while since I came up with the target numbers and I want to make sure they're still OK. I know I can live on the "monthly" amount, as it's what I live on now, I just want to make sure the "savings" element is going to be sufficient

glass_half_full

With nearly 8 years to go would you consider going to 100% equities?

South_coast

Hmmm, well barring the LISA and with the gilts gone, I don't think I'm that too far off already. I do plan to have a look at what the pensions are actually invested in, but as I'm years away from the initiation of any "lifestyling", I'm hoping they're already at the punchier end of the scale 🤔 They seem to be holding their own at any rate (up 67% in the last 4 years, with fairly minimal new money going in)