New to leanfire
I'm fairly new to the concept, but i have always had a desire to be financially free by 50.
Currently I'm a 44-year-old male, divorced, with two kids aged 11 and nine, of which i habe 50-50 custody.
I have a property worth around £440,000, with around £135,000 of mortgage remaining with 13 years left on the mortgage. Paying around £1056 a month
I have £85,000 in my S&S ISA, £10,000 of premium bonds, and £10,000 savings. I plan to contribute the maximum of £20,000 a year to my ISA for the next four years.
My salary is £65,000 per year. I currently work full-time, but from next year I may consider reducing my hours to four days a week. I don't want to keep working in my corporate job for more than three to five years.
At the moment I contribute around £24,000 to my pension a year and the current pension size is £150,000.
I also have an e-commerce business, which I'm hoping to grow. Eventually I think I will be able to pay my salary of maybe £10,000 or more a year, but at the moment I am not withdrawing any money from the business.
I have not done any deep calculations or worked out how much I need in my pension but what do you guys think of my current position and my goals?
Do you think it is realistically achievable to be able to quit my corporate job in three to five years?