Retire at 36
I have £1m liquid rn all generated from tax free gains in an ISA. How much of a buffer should I have or do you think I can retire ? House is paid off within few years (max 5)- wife works so she is helping pay that too. We could live off £50k (tax free since from ISA) pretty comfortably. Wife woukd stop working after house is paid off.
Hypothetically if we assume i invest this Into an All world index. Ànd want to live on £50k p.a for rest of my life. How much of a buffer should I get before I retire ? I.e extra £200k would get me 4 years runway during a bad market. Or do you think it’s fine to just assume 10% return on average ànd à 50k withdraw and retire now. My aim is to never withdraw if it makes me go under my principal amount of £1m.
Pension is just a couple k per year pretty irrelevant. No inheritance or anything so this truly would be the only income I have if I retired.
I don’t get a crazy salary ànd just hate working but have been pretty focused on investments so would like to quit asap.