r/LeanFireUK

What’s the number you want to hit where you’re like, okay that’s it wrap it up - you leave work and live your life in unhindered bliss

My wife (33) and I have been fortunate enough to be high earners for the last 4 years and are trying to work out whether we’re on track for our long-term retirement goals.

My finances
Salary: £180k
Employer pension contribution: £50k/year into SIPP
SIPP: £300k
Stocks & Shares ISA: £119k

Wife
Salary: £25k part-time
SIPP: £55k
Stocks & Shares ISA: £54k

Combined
Take-home income: ~£9,500/month

Monthly spending/saving
Mortgage + household bills: £4,500
Stocks & Shares ISA: £1,500
Nursery: £800
Holiday fund: £1,200

Lifestyle creep has been real. The new house and holiday are the killers, but we love both.

We’re currently investing broadly in global index funds.
Our target is to have the equivalent of £6,500/month in today’s money available in retirement.

We’re trying to work out whether we’re broadly on track and whether we should be doing anything differently with the balance between pension, ISA, mortgage overpayments and general spending.

What would you do in our position? Are we being too conservative/aggressive with our retirement assumptions?

Headed over here from FIRE as per advice.

So my situation. I’m 47, earn 95k and want to coast FIRE from age 55 latest.
Current pension is 150k and over next 8 years I’ll add another 150k matched by employer so total invested by 55 is 450k (not including any growth)…. I’ve done rough maths that this might have grown to around 600k by 55???
Other savings, currently have 78k and I add £750 a month so after 8 years will have 150k (again without any growth added)
At 55 I want to step down to a job paying 25-30k, possible minimal additional pension contributions. At 65 (or hopefully earlier) I want to fully retire with an equivalent income of 30k Pa

Am I on track, what can I do to help expedite, what am I missing that will derail me?

What have you been working on this week? Please use this thread to discuss any progress, setbacks, quick questions or just plain old rants to the community.

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?

I think this is more of a self-celebratory post than anything.

One of my 12 month savings accounts matured, so I transferred it all into my Cash ISA, and I'm sitting at just over 20k in my cash ISA now!!

I know that this might be in poor taste, given how folks are struggling at the moment with money, so I realise that I am really really fortunate to be in the position that I am in, but I'm just really happy with this milestone.

I'm still scared to goes Stocks and Shares ISA just yet (I'm just a shitebag), so I'll continue with my Cash ISA and just being sensible with my spending habits.

I’m in my 20s and trying to build a good financial life, but honestly, I feel a bit lost about what I should be focusing on.

For those who are older, what do you wish you had started doing in your 20s? And what financial mistakes or missed opportunities do you regret?

I’d genuinely love to hear your experiences, good or bad.

For those who have already used up their ISA allowance, what’s your next move? Do you put extra money into a taxable investment account, pension/SIPP, premium bonds, property, savings accounts, or something else?

Interested to hear how people are allocating their money once the ISA is no longer an option.

So I've been interested in FIRE for a few years now, but my personal life has been pretty turbulent in a way that's made long-term planning hard (not physical or mental health related). Things have more or less settled down now and I'm trying to finalise my plan. I don't mind working, but if possible I'd like to start winding down in my early forties and be done with work by 50 or so.

Salary: 34k, hopefully rising to 51k or thereabouts within 5 years, perhaps a tad more, but not many prospects of getting higher than that. Wife does not work but has a family allowance from abroad approx £400. She could get more. Relationship with her is strong.

Pension: DB career average, only 2 years into qualifying service, but some preliminary messing with the calculators suggests the income might be 20k by my mid-forties, nearly 50k by 67. Earliest access for me will be 57.

new home: West Midlands 3-bed, approx 260k including some renovations we're doing, bought outright. I know that might not have been the best decision, but I erred on the side of a low CoL to invest more rather than faffing with mortgages. Also like I said, my life recently has put me off that kind of risk.

Old home: apartment worth 140k, 80k equity. I am desperate to sell this, particularly because there's another 18k tied up in additional stamp duty I want to reclaim.

Investments: 88k SaS ISA + 10k GIA, all in global indexes with a slightly heavier US weighting. Equities about 90%.

Inheritance: I've had the mixed fortune of inheriting everything early -- hence my situation now. Wife stands to inherit up 600k a couple of decades down the line, unsure of the amount.

No car and no plans to get one. No kids for the forseeable, though not against the idea. When the old home is sold I expect bills + groceries to come to about £1,000. My wife and I get feel we have a decent lifestyle right now, and don't expect to spend more unless our circumstances change significantly.

I reckon if I can get all my capital invested into high-equity indexes for 20 years and continue to add a few hundred a month I can conservatively expect 650k before 50, though it'll take a few years to get all of it in ISA wrappers. Contemplated whether it would be more tax efficient to increase pension contributions instead but unsure.

Can then begin reducing hours at work while still accruing some pension, using 2-3% withdrawals. I would prefer not to touch the principal if avoidable, but can live off it for a few years to bridge until early pension. Depending on exactly how greedy I get in my middle age, I could be done before 50.

I am young and foolish though, and trying not to waste a windfall I won't receive again, so open to any advice at all.

I’ve had a passion for finance since my grandparents taught me the importance of saving when I was 6. I’m looking for any advice regarding where I am on my FIRE journey.

I’m 23 with an annual salary of £36k working in Residential Care. With overtime I average 3k after tax pm. I work 2 days on shift with 4 off.

Me and my partner have roughly 100k in equity with a £230k mortgage. The reason for the high equity is we value reduced stress in case of the possibility of income loss.

Our money is pooled together and everything is split 50/50. All our bills come to roughly £1.3k pm. We have 7.5k in cash. My partner is quite risk adverse and so currently we save £800 a month in a 6.5% high interest saver (current value £5.6k) , £500 into a low risk pie I created, protected in an S&S ISA, currently up 8% since Jan. The Pie is sitting with a value of £3.8k, split as follows:
All World 50%
S&P500 17%
All world high dividend yield 8%
S&P500 Health 7%
Defence 7%
MCSI world value factor 6%
QQQ 5%

My personal Stock account sits at a value of £27.2k, with most sitting in the S&P. I also lean into individual stock picks with an average performance of +75%, currently up 800% MU (proud dad moment). The average total account returns 28-30% a year. I have roughly £8-10k in a Crypto wallet. I also have £4k into a forex EA that has doubled my money in 5 months, with the average monthly return being 25-30%.

I currently feel as though I have Plateaued and am looking for some advice as where to go next. I am doing a level 5 Care Qualification however looking to leave my current job in December when I pass. I don’t have a degree in anything and have experience in Hospitality, Sports, Leisure, Heritage and Care.
I have no interest in luxury items or flash. I’m very frugal but spend money on experiences. I have been fortunate enough to travel the world, only continent left is Antarctica. My goals are focused on enjoying life and being able to spend time with my family & friends without having financial stress.
Feel free to shoot me any questions and thank you for your time.

Recap
- £27.2k in Stocks
- £8-10k in Crypto
- £4k Forex Bot
Split with the Mrs:
- £3.8k in Stocks
- £100k equity, £230k Mortgage
- £5.6k saving
- £7.5k Cash

I’m a student researcher from the University of Warwick, exploring how parents from different income backgrounds understand money and teach financial habits to their children.

📝 What’s involved:

• 5-minute screening questionnaire
• Optional 1-hour online interview

 

🎯 Who can take part:

• Parents or guardians above 18 currently living and working in the UK

 

Here is the Participant Information Leaflet for more information about your involvement :)

Your experiences can help improve understanding of financial education across families. Feel free to share with others who might be interested!

 

Saved from part time job, currently live with parents and money is in cash isa.
Maybe want to put £10k away for a house deposit.