u/Some-gig-hey

Hello everyone. I’m fairly new to personal finance and the fire movement more generally. 

I am keen to put myself in a position to retire in my 50s along with my partner. If not retire then to have a greater degree of flexibility and control over my time and work that I do. 

For context we have 2 kids aged 21 months and 9 months. I (32M) am a paramedic with the ambulance service. My partner (29F) works part time now as a financial administrator.

At the moment we have:

Emergency fund - £6000

My S and S ISA - £3,600

Partners S and S ISA - £1000

Partners workplace pension - £24,000

My SIPP - £2,300

My DB pension - ( NHS 2015 scheme) - Currently £2800 per annum at 67. Estimated value if still in NHS at 57 would be somewhere around £20,000 per annum if no lump sum is taken 

Our collective monthly income is around £4200. 

After essential bills, fun money and money for kids we have £1100 left to save/invest. 

Plan would be: 

-£400 in to my S and S ISA. 

-£400 in to partners S and S ISA

-Additional £100 overpayment on mortgage. Already overpaying £100. (Mortgage would be paid off in 25 years aged 57,55 respectively). 

-£200 would go in to a holiday fund. 

I am due to go from £43,000 to £52,000 salary in two and a half years and would like to think I could then up investments if avoiding lifestyle creep.

Assuming 7% (10% average minus inflation average 3%ish) returns on the S and S accounts, both invested in VWRP, values would sit around:

My S and S ISA - £334,645

Partners S and S ISA - £320,534

Total - £655,179

If we had a more conservative estimate of 4 %:

My S and S ISA - £213,828

Partners S and S ISA - £206,897

Total - £420,725

This would effectively act as a bridge until state pension and access to my DB pension. 

We have estimated we could comfortably live on £25,000-£30,000 per annum covering bills, a few holidays, recreational spending and money for kids.

I appreciate there a lots of variables in life including market downturns, illness, divorce, pension changes and other joys. I also appreciate my children may require financial assistance throughout their life.

I would just appreciate feedback on my forecasting and would appreciate any constructive feedback on errors or things I haven’t considered. 

Thanks in advance.

Hello,

I am wondering if anyone has any experience of transitioning to an Inspector position with the Care Inspectorate in Scotland.

I’d appreciate if you could share your experience and opinions on:

1. What a typical working day looks like
2. Are you well supported by colleagues and senior management
   3)The ratio of WFH to office days
   4)Do you find the job fulfilling
3. If you have a family, does the position facilitate reasonable work/family balance

I’m considering applying as a career change away from frontline healthcare. However, I can find very little anecdotal information online.

Thank you in advance

Hello,

I am looking to see if anyone has any experience of transitioning to an Inspector position with the Care Inspectorate in Scotland.

I’d appreciate if you could share your experience and opinions on:

1. What a typical working day looks like
2. Are you well supported by colleagues and senior management
   3)The ratio of WFH to office days
   4)Do you find the job fulfilling
3. If you have a family, does the position facilitate reasonable work/family balance

I’m considering applying as a career change away from frontline healthcare. However, I can find very little anecdotal information online.

Thank you in advance