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  • FIRST POST
    • Sea Shell
    • By Sea Shell 29th Jun 19, 3:14 PM
    • 2,800Posts
    • 5,037Thanks
    Sea Shell
    It's time to start digging up those Squirrelled Nuts!!!!
    • #1
    • 29th Jun 19, 3:14 PM
    It's time to start digging up those Squirrelled Nuts!!!! 29th Jun 19 at 3:14 PM
    Hi Everyone and welcome to my new thread.

    Original thread can be found here... https://forums.moneysavingexpert.com/showthread.php?t=5631875

    As you may know, DH has already finished work and I am also due to finish in 3 weeks time . We hope that our FIRE pot is now enough (our IFA seems happy!)...and so I have made the decision to jump too!!!!!

    This is going to be the next adventure, so if you want to watch us crash and burn, subscribe now!!! - Seriously, though, we are confident we've got our figures right for our circumstances and we'll have a comfortable retirement. Our idea of comfortable, would be spending approx £15k-£20k pa. We currently average about £13k pa spends.

    Anyway, some numbers....

    As of today our total FIRE pot stands at....£536,129. This is made up of...

    DC pension pots - £303,729
    S&S ISAs - £133,648
    Fixed term cash - £69,715
    Easy access cash - £29,037 (net of stoozed CC balances)

    Will will also have SP's (eventually) which we'll look to pay-up to max nearer the time (i'm 3 years short), plus DH has 2 DB pensions due to start paying in approx 12 years of c. £8300 in today's money (indexed).

    I look forward to your company.

    *** Update ***
    So I’ve just been closing off the month end figures for September 2019, and all is still on track. We currently have a “pot” of £548,751.

    Our joint pot breakdown is:

    Instant access cash - £12,925 (net of stoozed CCs)
    Locked Cash - £88,062 (including notice accounts and fixed term bonds)
    S&S ISA’s - £135,797
    Pension Funds - £311,967
    Last edited by Sea Shell; 29-09-2019 at 8:17 AM.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow " JOB DONE!!
    This should now read "It's time to start digging up those Squirrelled Nuts"!!!
Page 2
    • frugal90
    • By frugal90 1st Jul 19, 7:32 PM
    • 276 Posts
    • 206 Thanks
    frugal90
    Moving to de-accumulation is quite hard.
    We stopped 1 year ago and even though we have done everything in the year we wanted to We have spent less than we budgeted for.
    Better that I suppose than the other way. You only get one chance so enjoy it while you can!
    Early retired in summer 2018 and loving it
    • BoxerfanUK
    • By BoxerfanUK 1st Jul 19, 9:05 PM
    • 526 Posts
    • 426 Thanks
    BoxerfanUK
    Is it just me, or does anyone else feel like 'less is more' as you get older? Spent most of my life accumulating things as indeed we all do, but seem to spend more time getting rid of 'stuff' lately and weirdly, I feel much better for it. It seems to de-clutter my mind.

    Don't get me wrong, we are certainly not hoarders or anywhere near packed to the rafters, but just getting rid of stuff we don't use anymore that's just taking up space I'm finding really satisfying.

    We still like nice things of course, and if we really want something we buy it, but I'm getting as much pleasure out of letting go as I do from 'acquiring'. Find myself walking around the house or up in the loft thinking 'what can I get rid of next'
    Last edited by BoxerfanUK; 01-07-2019 at 9:07 PM.
    • m_c_s
    • By m_c_s 1st Jul 19, 9:17 PM
    • 154 Posts
    • 75 Thanks
    m_c_s
    Find myself walking around the house or up in the loft thinking 'what can I get rid of next'
    Originally posted by BoxerfanUK
    Same here but one needs to be careful to only consider inanimate objects at times!
    • BoxerfanUK
    • By BoxerfanUK 1st Jul 19, 9:22 PM
    • 526 Posts
    • 426 Thanks
    BoxerfanUK
    Same here but one needs to be careful to only consider inanimate objects at times!
    Originally posted by m_c_s
    Haha m_c_s very good
    • fred246
    • By fred246 2nd Jul 19, 2:08 AM
    • 1,858 Posts
    • 1,165 Thanks
    fred246
    Luckily our IFA is a family friend, so a meal and a bottle of wine cover their fees!!!
    Originally posted by Sea Shell
    The normal fee for an IFA is 0.5% apparently. You should be paying £2680 every year. Needed to cover all the overheads and expenses apparently. Are you giving him a meal and a bottle of wine every week?
    • Sea Shell
    • By Sea Shell 2nd Jul 19, 6:50 AM
    • 2,800 Posts
    • 5,037 Thanks
    Sea Shell
    Is it just me, or does anyone else feel like 'less is more' as you get older? Spent most of my life accumulating things as indeed we all do, but seem to spend more time getting rid of 'stuff' lately and weirdly, I feel much better for it. It seems to de-clutter my mind.

    Don't get me wrong, we are certainly not hoarders or anywhere near packed to the rafters, but just getting rid of stuff we don't use anymore that's just taking up space I'm finding really satisfying.

    We still like nice things of course, and if we really want something we buy it, but I'm getting as much pleasure out of letting go as I do from 'acquiring'. Find myself walking around the house or up in the loft thinking 'what can I get rid of next'
    Originally posted by BoxerfanUK
    Yes, we have stopped buying stuff, and always ask, do we really NEED this. I think that's partly why our spends are so low. And if it genuinely is a replacement item (clothes etc.) then I have a "one in, one out" policy too.

    I'm actually going to brave the world of e-bay once I've got more time on my hands, as there must be stuff we can get a couple of quid for too.
    Last edited by Sea Shell; 02-07-2019 at 6:56 AM.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow " JOB DONE!!
    This should now read "It's time to start digging up those Squirrelled Nuts"!!!
    • Sea Shell
    • By Sea Shell 2nd Jul 19, 6:55 AM
    • 2,800 Posts
    • 5,037 Thanks
    Sea Shell
    The normal fee for an IFA is 0.5% apparently. You should be paying £2680 every year. Needed to cover all the overheads and expenses apparently. Are you giving him a meal and a bottle of wine every week?
    Originally posted by fred246
    Sorry, are you joking or being serious? No winky emoji??

    Like a said, they don't actually manage any investments or anything for us, just popped round to have a general overview of the figures and the plan and said, yep, you seem to have everything in hand. So no, we don't pay them a fee.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow " JOB DONE!!
    This should now read "It's time to start digging up those Squirrelled Nuts"!!!
    • Anonymous101
    • By Anonymous101 2nd Jul 19, 7:59 AM
    • 1,431 Posts
    • 1,171 Thanks
    Anonymous101
    Yes, we have stopped buying stuff, and always ask, do we really NEED this. I think that's partly why our spends are so low. And if it genuinely is a replacement item (clothes etc.) then I have a "one in, one out" policy too.

    I'm actually going to brave the world of e-bay once I've got more time on my hands, as there must be stuff we can get a couple of quid for too.
    Originally posted by Sea Shell


    Sites like e-bay are great for furniture recycling. I've been an ebayer for years, I'd much prefer to let someone who wants what I don't have it. Plus there's the added bonus of a bit of money for me and quite often they'll come and collect too so saves a tip run.
    • Spider In The Bath
    • By Spider In The Bath 2nd Jul 19, 10:45 AM
    • 1,513 Posts
    • 5,385 Thanks
    Spider In The Bath
    ...I'm amazed as our annual spend is much higher than that even although I do monitor our spending closely, and I do not consider us as big spenders.
    Originally posted by Audaxer
    We live on about 18 thousand a year. Everything else we earn is saved for FIRE (hopefully in about 5 years' time).

    We run two cars, have a pet, go on holidays and days out etc. easily on the 18 thousand.

    When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.
    • Anonymous101
    • By Anonymous101 2nd Jul 19, 11:50 AM
    • 1,431 Posts
    • 1,171 Thanks
    Anonymous101
    We live on about 18 thousand a year. Everything else we earn is saved for FIRE (hopefully in about 5 years' time).

    We run two cars, have a pet, go on holidays and days out etc. easily on the 18 thousand.

    When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.
    Originally posted by Spider In The Bath


    We follow an FI lifestyle, expect to retire in our 40's and think we are fairly conservative in our spending... Yet we are spending £40k per year as a couple. Even when our mortgage is paid off I'd expect we'd be around £30k per year. That's being conservative with cars and holidays, not living in a huge house and keeping a lid of food bill. We don't eat out all that often or drink excessively. I can easily see how people can be spending twice what we are.
    • shinytop
    • By shinytop 2nd Jul 19, 12:03 PM
    • 569 Posts
    • 650 Thanks
    shinytop
    We live on about 18 thousand a year. Everything else we earn is saved for FIRE (hopefully in about 5 years' time).

    We run two cars, have a pet, go on holidays and days out etc. easily on the 18 thousand.

    When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.
    Originally posted by Spider In The Bath
    The same as people working. Big SUV, expensive meals out, latest iphone/gadget, shoes, handbags...
    • Spider In The Bath
    • By Spider In The Bath 2nd Jul 19, 1:02 PM
    • 1,513 Posts
    • 5,385 Thanks
    Spider In The Bath
    We live on about 18 thousand a year. Everything else we earn is saved for FIRE (hopefully in about 5 years' time).

    We run two cars, have a pet, go on holidays and days out etc. easily on the 18 thousand.

    When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.
    Originally posted by Spider In The Bath
    We follow an FI lifestyle, expect to retire in our 40's and think we are fairly conservative in our spending... Yet we are spending £40k per year as a couple. Even when our mortgage is paid off I'd expect we'd be around £30k per year. That's being conservative with cars and holidays, not living in a huge house and keeping a lid of food bill. We don't eat out all that often or drink excessively. I can easily see how people can be spending twice what we are.
    Originally posted by Anonymous101
    I don't understand how you can be 'conservative' when (using your 30K figure) you would be spending £2,500 a month, every month.

    On what?

    Everyday bills (food, electricity, insurance, cars etc) are probably around £800 - £1500 a month depending on house size and family size etc.

    So where does the other £1,000 go every month?

    I really cannot work out what you must be buying, or paying for things.

    When you say 'conservative car' what sort of make and model do you have in mind?
    And for 'conservative' holidays again what price range?

    I know most people do not want to give too much personal info away so generic examples only if you want.

    ************************************

    Sorry for slightly hijacking Sea Shell's thread. I am interested in the thread as her circumstances, living costs and FIRE fund are / will be very similar to ours.
    • Bravepants
    • By Bravepants 2nd Jul 19, 1:24 PM
    • 655 Posts
    • 888 Thanks
    Bravepants
    Is it just me, or does anyone else feel like 'less is more' as you get older? Spent most of my life accumulating things as indeed we all do, but seem to spend more time getting rid of 'stuff' lately and weirdly, I feel much better for it. It seems to de-clutter my mind.

    Don't get me wrong, we are certainly not hoarders or anywhere near packed to the rafters, but just getting rid of stuff we don't use anymore that's just taking up space I'm finding really satisfying.

    We still like nice things of course, and if we really want something we buy it, but I'm getting as much pleasure out of letting go as I do from 'acquiring'. Find myself walking around the house or up in the loft thinking 'what can I get rid of next'
    Originally posted by BoxerfanUK

    Same here! Well, more me than my partner.


    Maybe it's something to do with reaching a point in life where we no longer have anything to prove. We've all been through the ups and downs of life, some of them quite dramatic, some of them quite tragic and we've become humbled by life and realised than peace, self-development, learning and clarity of mind is much more important to us than collecting stuff to keep up with the Jones's.


    I sometimes hanker after starting again and having a "boxing up party" like The Minimalists, and then only getting out what we need and use.


    One thing having less stuff gives me is space to breathe, less time looking after things, and housework becomes easier too.
    If you want to be rich, live like you're poor; if you want to be poor, live like you're rich.
    • Audaxer
    • By Audaxer 2nd Jul 19, 1:36 PM
    • 1,899 Posts
    • 1,187 Thanks
    Audaxer
    I don't understand how you can be 'conservative' when (using your 30K figure) you would be spending £2,500 a month, every month.

    On what?

    Everyday bills (food, electricity, insurance, cars etc) are probably around £800 - £1500 a month depending on house size and family size etc.

    So where does the other £1,000 go every month?

    I really cannot work out what you must be buying, or paying for things.
    Originally posted by Spider In The Bath
    Well, we hardly ever drink, don't smoke, and have the odd meal out. The only 'luxury' is that we each have a car, but mine is 8 years old, and needs replacing soon. We usually have a few holidays each year, but now mostly here in the UK. I am cautious and have no debt, but £30k a year is quite easy to spend.

    It's great that you can get by on £18k a year, but I don't know how you manage it.
    • jimi_man
    • By jimi_man 2nd Jul 19, 1:49 PM
    • 201 Posts
    • 229 Thanks
    jimi_man
    We live on about 18 thousand a year. Everything else we earn is saved for FIRE (hopefully in about 5 years' time).

    We run two cars, have a pet, go on holidays and days out etc. easily on the 18 thousand.

    When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.
    Originally posted by Spider In The Bath

    I can, easily. As an example. Seashell posted the breakdown of the yearly budget and one of the things I noticed was that the fixed costs of Council Tax, electricity, gas, water, Sky and Broadband was £280 a month. That figure is roughly my Council tax alone. As it’s a bigger house it requires more electricity and more gas – though water and Broadband would be the same. And Sky, though I don’t have that. Maintenance costs are also more.

    The groceries spend was £48 a week – presumably for two. That’s not a lot, though it is at Aldi. Personally I tried Aldi but it was awful – the meat and fish are especially poor and the fruit and veg are just average and the choice is appalling, however I do get that they offer value for money. I do prefer the quality of a decent butcher and fishmonger and I like to support local shops as well as going to the supermarket, rather than just concentrating on saving every penny. But the flip side is that they are expensive.

    Whilst we don’t use a gym, a lot of the other costs are similar – though we do more miles. (I do fail to see how two people can only spend £40 of cash in a year. Charity donations, parking, the odd newspaper etc require more than that over the year, however everyone is different!!).

    People might have more expensive cars, holidays, so it’s easy to see why people might want more. £12-13k per year to live on, I would think, is at the very low end of the spectrum (though this is a Moneysaving site!) And it obviously suits the OP. By that rationale, spending twice that might suit other people.

    I'm planning on £3000 a month retirement income. Who’s to say that’s any more wrong than £1000 a month as above?

    • Anonymous101
    • By Anonymous101 2nd Jul 19, 1:59 PM
    • 1,431 Posts
    • 1,171 Thanks
    Anonymous101
    I don't understand how you can be 'conservative' when (using your 30K figure) you would be spending £2,500 a month, every month.

    On what?

    Everyday bills (food, electricity, insurance, cars etc) are probably around £800 - £1500 a month depending on house size and family size etc.

    So where does the other £1,000 go every month?

    I really cannot work out what you must be buying, or paying for things.


    When you say 'conservative car' what sort of make and model do you have in mind?
    And for 'conservative' holidays again what price range?

    I know most people do not want to give too much personal info away so generic examples only if you want.

    ************************************

    Sorry for slightly hijacking Sea Shell's thread. I am interested in the thread as her circumstances, living costs and FIRE fund are / will be very similar to ours.
    Originally posted by Spider In The Bath


    I suppose its all relative. As it is we're still hitting a pretty high savings rate, well over 50%, but could of course cut back further to really speed up our FI process.


    I'm happy to discuss this more away from this thread if you'd like to contact me via PM or something but to keep it on topic and relevant here I'll give high level run through of where I'd see our £30k retirement budget going.


    As you say £2,500 per month


    House (Energy, Water, Council tax, Sky TV) - £450
    Household maintenance saving - £250
    Food (£35 each pw, plus one meal out pm) - £300
    Pet (Vets, Pet plan etc) - £50
    Mobile phones - £50
    Holidays / weekends away / days out (annual allowance of £5k) - £300
    Cars (Allowance for maintenance, Tax, MOT, Insurance Etc) £200 x 2 = £400
    Petrol - £250
    Personal spends (Birthday presents, socialising etc) - £150
    Hobbies - £300


    Of course we could cut back (obviously on hobbies and personal spends) but I think this gives a fairly comfortable retirement without going over the top.
    • Spider In The Bath
    • By Spider In The Bath 2nd Jul 19, 5:32 PM
    • 1,513 Posts
    • 5,385 Thanks
    Spider In The Bath
    ...I'm planning on £3000 a month retirement income. Who’s to say that’s any more wrong than £1000 a month as above?
    Originally posted by jimi_man
    No idea who says it was wrong as it was not me.

    I have made no comment on what is right, or wrong.

    People are entitled to spend what they like. I just cannot work out what they are finding to spend it on.
    • Spider In The Bath
    • By Spider In The Bath 2nd Jul 19, 5:36 PM
    • 1,513 Posts
    • 5,385 Thanks
    Spider In The Bath
    I suppose its all relative. As it is we're still hitting a pretty high savings rate, well over 50%, but could of course cut back further to really speed up our FI process.


    I'm happy to discuss this more away from this thread if you'd like to contact me via PM or something but to keep it on topic and relevant here I'll give high level run through of where I'd see our £30k retirement budget going.


    As you say £2,500 per month


    House (Energy, Water, Council tax, Sky TV) - £450
    Household maintenance saving - £250
    Food (£35 each pw, plus one meal out pm) - £300
    Pet (Vets, Pet plan etc) - £50
    Mobile phones - £50
    Holidays / weekends away / days out (annual allowance of £5k) - £300
    Cars (Allowance for maintenance, Tax, MOT, Insurance Etc) £200 x 2 = £400
    Petrol - £250
    Personal spends (Birthday presents, socialising etc) - £150
    Hobbies - £300


    Of course we could cut back (obviously on hobbies and personal spends) but I think this gives a fairly comfortable retirement without going over the top.
    Originally posted by Anonymous101
    Thanks for the info I will stop hijacking the thread now. I was just curious as to what people were going to use so much money for.

    I hate shopping so could not work at all what people are buying with so much every month.
    • Audaxer
    • By Audaxer 2nd Jul 19, 5:53 PM
    • 1,899 Posts
    • 1,187 Thanks
    Audaxer
    I suppose its all relative. As it is we're still hitting a pretty high savings rate, well over 50%, but could of course cut back further to really speed up our FI process.


    I'm happy to discuss this more away from this thread if you'd like to contact me via PM or something but to keep it on topic and relevant here I'll give high level run through of where I'd see our £30k retirement budget going.


    As you say £2,500 per month


    House (Energy, Water, Council tax, Sky TV) - £450
    Household maintenance saving - £250
    Food (£35 each pw, plus one meal out pm) - £300
    Pet (Vets, Pet plan etc) - £50
    Mobile phones - £50
    Holidays / weekends away / days out (annual allowance of £5k) - £300
    Cars (Allowance for maintenance, Tax, MOT, Insurance Etc) £200 x 2 = £400
    Petrol - £250
    Personal spends (Birthday presents, socialising etc) - £150
    Hobbies - £300


    Of course we could cut back (obviously on hobbies and personal spends) but I think this gives a fairly comfortable retirement without going over the top.
    Originally posted by Anonymous101
    Yes, it easily mounts up. When I looked at you food bill for the month at £300, including a meal out, that seemed low compared to our supermarket spend, which is usually over £400 but then realised ours includes non-food items like toilet rolls, kitchen rolls, shower gel, deodorant, various cleaning products etc. Have you accounted for these sort of things somewhere else?

    On my spend spreadsheet I also have a column for Cash withdrawn. That is less than it used to be when I was working, but we still need to withdraw cash a few times a month so it counts as part of our monthly spend.
    • Thrugelmir
    • By Thrugelmir 2nd Jul 19, 6:20 PM
    • 65,313 Posts
    • 57,499 Thanks
    Thrugelmir
    Is it just me, or does anyone else feel like 'less is more' as you get older? Spent most of my life accumulating things as indeed we all do, but seem to spend more time getting rid of 'stuff' lately and weirdly, I feel much better for it. It seems to de-clutter my mind.
    Originally posted by BoxerfanUK
    Definately. Unless the item in question has a usefull purpose it now goes. Rather than things , oh and me exchange "experiences". Simple life now. With majority of money now going on theatre, gigs, travel etc.
    ““there really is no such thing as ‘the future’, singular. There are only multiple, unforeseeable futures, which will never lose their capacity to take us by surprise.””
    ― Niall Ferguson
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