earlyish retirement plan

ha-pajama

thanks Patrol, honestly, i haven't really done that kind of plan.  i will get onto that, as i have not really known what kind of questions to ask of myself.  but you've given me some really good pointers.
I think from the posts and contributors, we might need to build the pot a bit further, probably safer to try and get to 500K, ideally. 

I think we'll downsize though in 5 years which would release around 120-150. 
we will get full state pensions.
will mess around with the calculator and chapgpt to help me. 

thanks again

kempiejon

My plan begun in earnest when I started comprehensive records. Following redundancy many years ago I recorded all my spending. After a few months I had a growing spreadsheet, a handle on groceries, utilities, and annual bills, car expenses etc coming together. Using these data I had a budget for a base level of subsistance. It was a good habit and I kept at it for over a year and have revisitied it every year or so since. It was easy to extrapolate to a few more nice to have activities and it's easy to predict some indulgencies to add to that. Once the investment was offering that base number it was easy to make decision about work.

Bostonerimus1

ha-pajama said:

not much could survive all that bostonerimus1 
But i hear what you're saying.

I'm not sure that you have heard. Your posts continue to be overly optimistic IMO. You need a plan that will work in the bad circumstances as well as the good. Does it work with 2% return and 4% inflation? and going into retirement with a volatile asset like Bitcoin is risky. I'm all for holding assets with some growth potential in retirement, but the down side must be modeled and whether or not you are convinced of Bitcoin's potential you must include the downside volatility in your planning and if it impacts your outcome seriously then reject it as a retirement asset to hold.

HedgehogRulez

Don’t over egg the downsizing capital release.

barnstar2077

Why not make a plan to retire from when you can access your pension? (to use as a starting point.) 

Also, most people are derisking the closer to retirement that they get, which is why you won't find many people on this forum that would recommend having such a large percentage of you portfolio in crypto currencies.  If you are prepared to work a few extra years if it doesn't work out in order to see what happens then you have a larger appetite for risk than most.