Getting FIREd up 😀

South_coast

That it is!

South_coast

And the money has arrived 🎉! And somehow grown exponentially on the way 🤷‍♀️! What was recorded as £15,729.33 in Pension 3 on 01/04 has landed in Pension 2 as £16,963.36. I don't think it had ever been as high as that? As Ed says, it's a funny time!

Jessy103

Woohoo to the extra money! 🎉

South_coast

It's very weird seeing such a big number!

South_coast

So I've just been making a note of my first of the month figures against what I worked out as my new target a few weeks ago - and have realised I had made a £100k miscalculation to my detriment 😮 Back later with the full round-up once I have got over the shock (or worked out that my new workings-out are wrong 🤞)

edinburgher

They do say the first £100k is the hardest 😉

South_coast

What do they say about the last???

South_coast

First of the month round-up....

• Savings for retirement: £157,819.23 (UP £9,514.21 🤯🤷‍♀️)
• Repaying pots until: October 2026
• Clear car finance: May 2027
• Getting FIREd up starts: June 2027
• 7.19 years to go (Manageable income)
• 16.17 years to go (Preferred income)

So we're now at an all-time high 🤷‍♀️?

I have decided to track both what would be a manageable income in retirement and the income I would prefer. I'm very conscious that a) many people die before they ever get to retire, and I don't want to be one of them; and b) if chunks of my portfolio are still invested (keeping pensions separate so they don't all have to do the same thing at the same time), my pile will likely continue to grow after I stop working (especially in the years before I can access the pensions) - so in reality I think I'll throw in the towel somewhere between the two points. Also, if I have to work for longer then I won't actually need as much as it won't have to last for as long - but I'm not feeling sharp enough to work out a sliding scale of money needed right now, especially after already making one £100k miscalculation 😬!*

In the other news for the month, I've moved a pension, requested to increase my contributions by 2% from next month (should probably be more now 😬), closed one credit card, opened another (24 months 0% on purchases), and not slept enough! The sleeping is mostly my own fault though, after my vow on Easter Monday to sort my life out I have done some form of exercise (either running or swimming) every day in April, and there are only so many hours in the day - hence a lot of early starts!

*Actually, I think that would probably be fairly easy to work out, so I might take a look at that over the weekend 🤔

edinburgher

Totally forgot to do month end finances! Good numbers there SC 🙂

South_coast

Thanks, Ed 😀 Baffling as ever, though!

In (slightly) more predictable news, my £45.00 cashback from the car insurance is payable 😀