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Small steps lead to big changes...
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Freedom of choice is a life changer.
They say people's biggest regret in old age is not looking after their bodies more - and therefore having unnecessary pain and suffering later in life. I'm slow to learn that lesson - but trying to renew my focus.
The retirement numbers game is an interesting one. I keep playing with the salary calculator on here to see how much I can put into my pension and still have a decent take home amount. It is eye opening as so much of what little we get net is due to tax - and obviously with the pension you effectively redirect some of that tax to your future. I look forward to reading more on your plans.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5K updated 10/10/252 -
It is, and with already suffering from some pain, I hope to rectify it. I think the biggest thing I will gain if I manage to retire early is time, and I hope to use that time well to exercise and eat well (as I am more inclined to do naturally when I'm not working now). I'm trying to get into better habits in advance of that so that I won't have such a big job to improve.savingholmes said:Freedom of choice is a life changer.
They say people's biggest regret in old age is not looking after their bodies more - and therefore having unnecessary pain and suffering later in life. I'm slow to learn that lesson - but trying to renew my focus.
The retirement numbers game is an interesting one. I keep playing with the salary calculator on here to see how much I can put into my pension and still have a decent take home amount. It is eye opening as so much of what little we get net is due to tax - and obviously with the pension you effectively redirect some of that tax to your future. I look forward to reading more on your plans.
I don't begrudge tax at all, I would rather pay more tax and have strong public services (not that we have that at the moment!). I'm only BR taxpayer anyway. My AVCs are pre-tax and NI so really good value, but it's balancing that between having money available now as well as that available in the future. So I'm trying to gradually increase them so that I don't notice.
I had a good look at my spending and worked out what I was spending now that I wouldn't be spending on in retirement. For me that was quite eye opening and demonstrates how little I need to live on. With all the money I'm currently ploughing into mortgage, debts, savings, pension, childcare etc, I'm not very far off living off what I plan to live off in retirement. Once I get to SP, I'll have more money than I do now. I'm very fortunate with my DB pension so that helps a lot. I just need the savings to cover me between leaving at 55, and taking my pension at 57. SP is annoyingly just shy of my 68th birthday. Current plan is to try and get my AVC pot big enough to sustain me a couple of years so that I can leave my DB in place longer and not lose so much for taking it early, but I'll need to more fully understand the other options to me before I make that final decision. I look at DH and I separately so that I know we can both survive individually if something was to happen to the other."Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee3 -
My knee is painful again which is rather annoying. Although it's the same knee, it's not the same pain, it feels more wider across the leg. I've been carrying on walking (it's been back for a week or so), but I actually might rest up for a few days and see if that helps improve it.
I got the new Strike book yesterday on audible, and am really enjoying it so far.
Work is still challenging, but it helps me keep focussed on my future plans. I did stress eat a lot yesterday, so need to try and rein it in a bit.
Roll on payday!"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee4 -
How exciting to have plans in the making for early retirement. I have just under 4 years to go, sadly it won’t be early. I enjoy my job though so it’s not a hardship to keep going just a few more years.I get knocked down but I get up again (Chumbawamba, Tubthumping)6
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I think there is huge huge value in being in a job that you enjoy, it shouldn't be underestimated. I've had that before, and indeed, used to in this job. It makes life much more pleasant.Sun_Addict said:How exciting to have plans in the making for early retirement. I have just under 4 years to go, sadly it won’t be early. I enjoy my job though so it’s not a hardship to keep going just a few more years."Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee3 -
Today's PAD - £2
Jan - £141
Feb - £139
March - £89
April £149
May - £79
June - £270
July - £253
August - £173
September - £116
"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee3 -
Well done on the PADs.
Sorry about your knee. Hope it improves soon.
Sounds like you are taking a sensible approach to future finances.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5K updated 10/10/252 -
Today's PAD - £2
Jan - £141
Feb - £139
March - £89
April £149
May - £79
June - £270
July - £253
August - £173
September - £118
"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee2 -
Thank yousavingholmes said:Well done on the PADs.
Sorry about your knee. Hope it improves soon.
Sounds like you are taking a sensible approach to future finances.
"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee1
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