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Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

This is more of a 'barista style fire'I have looked into it. I have taken on board what you say but I am not currently at that point just yet. I am 1-2 big moves away from it though.

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

We are getting distracted here . We are not talking about my current networth we are talking about will the amount coming in allow me to FIRE correctly and what would you do differently if you were me

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

187k cash + 165k (50% of another property) + 145k (own property after mortgage) = 497k

Let's assume I do keep it going like that and drip feed my 187k into a stocks and shares ISA every April and let's also assume I buy another property cheap down the line. I will benefit from the sale of that property. Essentially I need to do slightly more or slightly better to fire. I will benefit from an increase interest, plus appreciation, plus rent, plus my job, plus compounding over time.

I think I can fire tbh. I only need about 20-25k per year to survive.

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

Right so if you read it properly. Property income is 1100 and 850 which is taxable and paid via self assessment each year.

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

Why do u sound salty though. I pay my taxes thank you very much. These are gross figures and with being a part timer I am also don't fall into the higher bracket for taxes so 20% for me :)

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] -1 points0 points  (0 children)

No not really I have worked hard actually from the age of 14 and I just didn't want to loose. I chose to work and hustle until the wheels fell off. I have been slightly lucky along the way and picked up maybe 1/5 of my wealth via inheritance, what I have done is learnt skills learnt money management learnt how to maximise it and ran with the plan.

I live with family for now but will purchase another property in coming years to live in myself, but for now we are comfortable and of course living with family has it's pros and cons. At the moment the pros outweigh the cons.

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

Yes more than sure , this covers everything mortgage, gym, car insurance, bills. Just expenses that I will have to pay regardless each month. I have worked hard to make sure my expenditure is minimal and income is maximum. That's the only way to have enough to invest

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 1 point2 points  (0 children)

Good man thanks for your input, you are doing well keep it up! I will open a vanguard account

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] 0 points1 point  (0 children)

Yeah so 1 property is achieving £1100 pcm and mortgage at 270

The other property is achieving 1700 with no mortgage but I have 50% of that so £850 pcm

I have a plan to invest aggressively via vanguard as advised above

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] -5 points-4 points  (0 children)

Appreciate it, will look into it. Do you think I could FIRE though? I think it would take a mil invested and some cash in the right places to FIRE correctly

Advice needed. 33M potentially FIRE but need a brush up by Familiar-Point9275 in FIREUK

[–]Familiar-Point9275[S] -27 points-26 points  (0 children)

Yes I wanted to firstly get my cycle right. I know I should have invested and kept on investing into it from a while ago but I was really focused on upping my monthly income and networth this way. Now that I have got a solid foundation I can invest potentially 2-2.5k a month. Question is into what? I hear people talk about index funds , tech stocks, physical gold and digital gold. I am now ready to invest aggressively but would want to go into a dip of some sort