High risk, high reward: A pauper's dream of early retirement.

BlackKnightMonty

https://forums.moneysavingexpert.com/discussion/comment/82001043#Comment_82001043

well it helps explain how generation no improvement is pushing against triple locks for generation things got better and better.

HedgehogRulez

https://forums.moneysavingexpert.com/discussion/comment/82001156#Comment_82001156

boomers gotta boom

HedgehogRulez

https://forums.moneysavingexpert.com/discussion/comment/82000999#Comment_82000999

it’s blue nun and lemonade for me and the missus!

I’m any case a milestone is a milestone. Up £50k in 2 weeks….

QrizB

Something about this thread reminds me of the (in)famous episode of Question Time where an audience member was claiming to be on a below-average salary and it turns out he's making £60k.

There's a portion of society which doesn't appreciate that people in the bottom half of the income distribution are also capable of living a happy and fulfilled life.

RogerPensionGuy

https://forums.moneysavingexpert.com/discussion/comment/82001189#Comment_82001189

Your comment here reminds me of listening to a BBC Radio 5 sensible call in show just a few months ago talking about child care costs are expensive.

A person called up saying government should make child care free and they may limit their current child count to just one as its too expensive.

Radio host asked their income for interest, person said plus 125K PA for them and plus 150K for their partner, radio host said many people listening are probably trying to cope on far less income that person calling.

Caller did agree their household income was probably more than most.

PropertyGuru_Wannabe

Or how about the 70 year old lady who wrote to a paper complaining that she couldn't sell her £850k house. She complained that it's the government's fault.

"People have asked me why I don’t just drop the price again, but I refuse to give my home away cheaply just because of the ridiculous economic climate we’re in, with a Government that fails to support hard-working people. They incentivise first-time buyers, but what about the people who want to move their families into bigger homes? And the ones like me who are desperate to downsize? Where is our help?"

Has she looked at a supply and demand issue rather than another blame game?

Rich1976

https://forums.moneysavingexpert.com/discussion/comment/82001154#Comment_82001154

patronising .

£400 a month into pension

£600 a month into savings

My other half does the same and they earn 28k

BlackKnightMonty

https://forums.moneysavingexpert.com/discussion/comment/82001204#Comment_82001204

To be fair, the folk on £125 and £150k will be paying epic tax, and absolutely zero benefits.

barnstar2077

Getting back on topic! (people who are retired/want to retire and live a happy life on less!)

I have finally decided my criteria for retirement. I will be at least 53, and I will have at least £400k between my ISA and pensions.

It is the best compromise for lots of scenarios. If I hit £400k earlier I will continue on at work, because I will just have a bigger buffer when I do pull the trigger (and I can hopefully pay the £10k left I have on the mortgage as the icing on the cake before I go.)

If I get to 53 and have less that £400k (£380k for example), then I will just carry on until I hit the £400k, or I have worked long enough that it has reduced my needed funds to the point where I don't need the full £400k any more (The longer I work the smaller ISA I will need, as I will be closer to accessing my pensions.)

Edit: Also, four years from now a new US president will have been in office for a year, and I am hoping that will make things a bit more predictable (famous last words! : )

Bostonerimus1

https://forums.moneysavingexpert.com/discussion/comment/82001165#Comment_82001165

Cheers!

Milestones are important for internal bookkeeping so you can keep track of how your plan is doing wrt reality. But once one is passed another comes into view with it's own worries. And then there comes the time when your goal is to reduce your networth and you smile when it's going down.