FIRE Girls Pension Diary - Aim High & Dream Big

Firegirl

Might take a break from this now, but thought it might be interesting to see the effect of the election on markets.

8/11 

Pension 1-£215, 000
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£122,500

Total- £412, 000

Sarahspangles

Firegirl said:

Might take a break from this now, but thought it might be interesting to see the effect of the election on markets.

8/11 

Pension 1-£215, 000
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£122,500

Total- £412, 000

It’s been interesting to watch, I’ve noticed I’ve checked my SIPP over lunch every day this week. My US equity is <18% of my portfolio. I’m considering reducing that a bit, and if so, soon.

LL_USS

Firegirl said:

Well just have to spend it all 

True, that we can spend more for ourselves. Yet at the same time, as everything is now included in to calculate the IHT whilst the nil rate bands stay there unchanged year after year, there are things we cannot spend (like our main residence) or spend fast enough (pension) and if something happened to us, the IHT would be so high that the beneficiaries would have to go through selling things fast and cheap to pay for the tax (and if they are still children, another hoop to jump through of how to get someone to manage selling assets to pay the tax for them - 175K nil rate band for main residence is not enough for a family house in London and they would not be able to keep their own house). Yesterday I put the numbers down in my excel and realised how bad the situation could be, espcially for single parents with less allowances for nil rate bands.

Firegirl

@LL_USS The more I think about it I think you have the right approach helping your kids out. Imagine if I save to 1M and then drop ⚰️! That wouldn’t be ideal!  Husband is not finance savy at all.

@Sarahspangles my ISA is mostly in vanguard FTSE global all cap index fund.  I’m actually not sure what the pension is in because an IFA set that up and I’ve always been happy with performance.  Need to have a proper look at it really.

Also when my perm job starts I’ll need to choose options there too.  I think once my perm job starts I can settle into a routine and then hopefully just let everything roll in for about 5 years.  I’m really thinking £800,000 will be the point I change my life and at least work only 3 days a week.

Firegirl

9/11

couldn’t resist another update. Numbers have moved but total has stayed the same!

Pension 1-£214, 500
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£123,000

Total- £412, 000

Firegirl

12/11

oh dear, think this might be a bit of an addiction……I can’t do daily updates for the next 5 years😆.  Isn’t it crazy a £2500 increase in 1 day!

Pension 1-£216, 000
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£124, 000

Total- £414, 500

michaels

Firegirl said:

12/11

oh dear, think this might be a bit of an addiction……I can’t do daily updates for the next 5 years😆.  Isn’t it crazy a £2500 increase in 1 day!

Pension 1-£216, 000
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£124, 000

Total- £414, 500

Step away from your PC and hide your log in details, otherwise you will have weeks where your pot loses more than you earn in a year and it all seems a bit pointless.  Checking every 6 months is plenty.

penners324

Sarahspangles said:

Firegirl said:

Might take a break from this now, but thought it might be interesting to see the effect of the election on markets.

8/11 

Pension 1-£215, 000
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£122,500

Total- £412, 000

It’s been interesting to watch, I’ve noticed I’ve checked my SIPP over lunch every day this week. My US equity is <18% of my portfolio. I’m considering reducing that a bit, and if so, soon.

US equities are surging, I think you should be far more heavily weighted in them. 80%

GenX0212

Firegirl said:

12/11

oh dear, think this might be a bit of an addiction……I can’t do daily updates for the next 5 years😆.  Isn’t it crazy a £2500 increase in 1 day!

Pension 1-£216, 000
Pension 2-£62, 500 (Approx)
Pension 3-£12,000  (Approx)
ISA-£124, 000

Total- £414, 500

Addictive isn't it, even though pointless 
I have been monitoring my main DC pot almost every day for the past month or so because it was just under and I wanted to see it top the £500k mark (which it has finally done). Means nothing really but I had almost convinced myself it was some invisible barrier that couldn't be reached. 

Firegirl

@GenX0212 well done for reaching the 500K mark! So exciting!  It’s very addictive especially when going up! I’m usually good at forgetting about it, so need to go back to that.

@michaels that’s it, I will step away from today…… I’ll update figures when my contract ends after my last pay from contracting.  

Then when I start my perm job I’ll have another pension to add to my list!