Help me achieve Fire please.
Hello everyone.
I’m trying to build a realistic path to FIRE and would appreciate some perspective/advice on whether my current setup makes sense. I have looked at the flow chart but it’s just not clicking for me.
I recently moved to abroad for work and my housing/utilities are covered, so I’m trying to take advantage of the next 3-6 years financially while still enjoying life a bit.
- I earn 45k annually
Current savings/investments:
- LISA: £23,844
- Help to Buy ISA: £14,221
- Premium Bonds: £10,000
- Vanguard S&P 500: ~£3,216 (planning to redirect future contributions into FTSE Global All Cap instead)
Total savings/investments: ~£50k+
- I usually keep £2k across my accounts as my spending money for the month. If I don’t spend it all, I place in one of the savings/investing accounts. Plus I dislike feeling like I don’t have access to funds so you can say this is a quick emergency fund.
Extra funds
-£442 in Quidco
-£110 in Vinted
However, I treat this as my emergency funds if I’m strapped for cash.
Monthly net pay:
- Usually around £2.8k–£2.9k net.
- Higher with allowances/backpay
I took a temporary allowance cut for working overseas but it works out better long term saving wise as my bills is now minimal.
Current monthly setup:
- £500/month → LISA (until maxed in July)
- £300/month → Vanguard FTSE Global All Cap (planned)
- Premium Bonds add whatever
I don’t want to open another savings account that may offer me a higher savings interest so I don’t know what to do in that aspect because my money could be doing more.
Monthly bills:
- Phone + Netflix: £40
- Internet: 57.99
- Travel pass: 56
- Vanguard: £300
- LISA: £500 (3 months remaining until I max)
- Apple/Spotify/Union etc.: minimal
I’m planning to stop contributing to my HTB ISA because I’ll only use the LISA for a house purchase.
I now longer have debt/loan as I sold my vehicle and paid the loan and put the rest of the funds in my LISA when the financial year started.
I do have a credit card and I have kept the limit as £1,000 and have spent £612 but will clear it at the end of this month. My credit card charges have no interest and it’s like a pay in 3. I only spend on it to receive the cashback perks.
As I’m overseas I know this could end up being one of the most financially powerful things I’ve done but I don’t want to now move silly because I’m overwhelmed with the amount of money I will be saving now. I will be using my living allowance which is around £400 to live off for the month and pay my bills and save the rest.
Goals:
- Buy property in the next 1–2 years
- Increase investing after LISA is maxed each year
- Potentially invest £600+/month long term
- Retire around 55 due to health reasons
I still want to enjoy life:
- travel
- nice clothes/shoes
- occasional luxury purchases (I’m just a girl)
- furnishing my overseas apartment slowly but on a budget as it’s very uncomfortable rn
Questions:
- Does this seem balanced or am I over-saving cash?
- Would you prioritise investing more heavily now or continue building cash reserves?
- Should I start moving to S&S ISA
Would appreciate honest feedback from people further along the FIRE journey. Apologies, if this is all over the place.
Thank you in advance x
Edit: I’m 30, female. I also on the Alpha pension scheme, I can’t check how much is currently is in there as I can’t seem to log in.