Saving For Early Retirement

Doris17

Hello, 

Currently have a diary on DWF board, feel this will be a better place to be as I am currently saving for early retirement!
We are mortgage and debt free. Mr D has his savings, he is very good at saving, we have joint savings and I am starting to build up my saving after being in debt for most of my adult life. So I have come to the savings party a little later than most.
I have various  accounts, pots etc that I may need to streamline slightly, something to work on. Retirement date I have in my head is 01/10/2028, I will be a few weeks into being 60.

Looking forward to my savings journey.

Doris17

Today's small wins.

*NSD as I am working from home.
*Renewed my mobile sim only deal £5.00 per month plus VAT for the next 24 months. 

Skint_yet_Again

Well done on being mortgage and debt free Doris 

I look forward to hearing about your savings journey. I have retired at 55 and am living off the equity from downsizing until my pensions start at 60 and 67. 

What sort of package did you get with your £5 sim? I pay £10 for unlimited calls, unlimited texts and 20gb data and am always looking for a cheaper deal. 

Doris17

Skint_yet_Again said:

Well done on being mortgage and debt free Doris 

I look forward to hearing about your savings journey. I have retired at 55 and am living off the equity from downsizing until my pensions start at 60 and 67. 

What sort of package did you get with your £5 sim? I pay £10 for unlimited calls, unlimited texts and 20gb data and am always looking for a cheaper deal. 

Thank you @Skint_yet_Again.
I have unlimited calls and text and only 3 GB of data with is plenty for me its with the 3 network.

Doris17

Today was a WFH day so also a no spend day which is always good. Weather has brightened up as it was horrendous rain this morning.

Travel expenses have shown up in my bank account today only a week late. This has been transferred over to my Monzo account and shared out between my various car pots, I have a pot for everything car related. Will need to get two new tyres in the New Year, picked up on my MOT, they are still the right side of legal. Money is in the tyre pot ready and waiting, a few years ago this would not have been the case and I would now be relying on a credit card to cover the cost. My mindset towards money is definitely changing for the better.

Just had an email to book a slot for a VIP sale taking place in the next few days, email deleted, don't want anything and definitely don't need anything, feeling very pleased with myself for resisting the temptation sent my way.  

penny_less

Hi Doris
I also have the year 2028 in mind for retirement , but in May as that’s when I turn 60. We are also debt and mortgage free. Our plan is to use savings to top up our very small pensions between 60-67. Obviously this depends on having enough savings to last! Downsizing slightly may also come into play if necessary.

Baron_Dale

Interesting thread. So what figures are you looking at for early retirement?

Doris17

Baron_Dale said:

Interesting thread. So what figures are you looking at for early retirement?

@Baron_Dale I have a figure in my head that I want to save in the next five years, this may change when I find out the total of my pension pots.

Doris17

penny_less said:

Hi Doris
I also have the year 2028 in mind for retirement , but in May as that’s when I turn 60. We are also debt and mortgage free. Our plan is to use savings to top up our very small pensions between 60-67. Obviously this depends on having enough savings to last! Downsizing slightly may also come into play if necessary.

@penny_less 60 will be here before we know it! We have thought about downsizing, could well be  a possibility in the future. We are ready know what Mr D's pension is, just waiting to find out my total and work out the figures.

Baron_Dale

Doris17 said:

Baron_Dale said:

Interesting thread. So what figures are you looking at for early retirement?

@Baron_Dale I have a figure in my head that I want to save in the next five years, this may change when I find out the total of my pension pots.

Looking forward to hearing more. Best wishes.

Doris17

Happy Saturday.

Just been to the shop to pick up the one thing I know I needed and forgot to get when we did a shop yesterday, manage to pick up 4 large cartons of double cream, reduced to 78p from £2.85. I guess there is going to be an afternoon of making butter, Mr D prefers homemade to shop bought.

Receipts scanned and I have enough to cash out on both my receipt apps, so another £10.00 for my 3/6 Months Emergency Fund pot. I currently have £22 in my purse would have been £24, a £2.00 coin has made its way into the savings tin, will need to get bread and milk towards the end of next week, no other money will be spend this year!