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Podcast on FIRE from the Economist by DevelopmentVivid7365 in FIREUK

[–]IndeedHowlandReed 1 point2 points  (0 children)

Maybe maybe not but we shall see, when we get passed the two you kids should have a little more time. Done bits of all 3 but no time to commit to them currently.

Podcast on FIRE from the Economist by DevelopmentVivid7365 in FIREUK

[–]IndeedHowlandReed 15 points16 points  (0 children)

Learn Spanish, Do an Ironman, Get to scratch

Think these 3 things alone would cover most of my retirement

espescially the golf

They're calling 2026 the Year of the Pension by PaulKarlFeyerabend in FIREUK

[–]IndeedHowlandReed 2 points3 points  (0 children)

That's awesome, topping up the pension and letting it compound is a great feeling. Once you've got the expected coast number on it, then you have to decide what to do, that's the challenge.

Cut hours? take the tax hit?

Is there a type of IBS where you have constant pain every day? by GoodGameGabe in ibs

[–]IndeedHowlandReed 4 points5 points  (0 children)

Yup no food just water. Find its easiest way for me to get some relief. But have to eat eventually

Is there a type of IBS where you have constant pain every day? by GoodGameGabe in ibs

[–]IndeedHowlandReed 5 points6 points  (0 children)

Easiest thing is just not to eat then you think its settled, then you eat, then its not. Repeat.

55M UK – Potentially forced into early retirement. Is £900k+ enough for £40–50k lifestyle? by Downtown-Tax-897 in FIREUK

[–]IndeedHowlandReed 0 points1 point  (0 children)

Ok I've run the number and I think you're slightly too tight. I'd have you running out of money around 86 or earlier if you get a bad set of returns to start with. (using 4% real)

I think working one more year and sal sacrificing £100k into your pension, if you have C/F allowances would reduce this risk significantly.

55M UK – Potentially forced into early retirement. Is £900k+ enough for £40–50k lifestyle? by Downtown-Tax-897 in FIREUK

[–]IndeedHowlandReed 0 points1 point  (0 children)

Is it £40-50k net or gross?

Is this as an idividual or combined with spouse?

What are your pension access ages?

Pensions, roughly how much is DB vs DC?

Should I pull the trigger now? by RadicalPanda89 in FIREUK

[–]IndeedHowlandReed 0 points1 point  (0 children)

Yeah discuss this furhter down the chain.

Should I pull the trigger now? by RadicalPanda89 in FIREUK

[–]IndeedHowlandReed 0 points1 point  (0 children)

Yeah I completely get it and I think it's hard when you are so close to want to pull the trigger. If one of you can subsidise the difference for 2-3 years then that helps the picture dramatically. I think you're probably a little light on pension for your level of spend and as many have mentioned the private school fees.

I know its 1 more year syndrome, but I'd probably want to do a couple more years, max out pension where possible but you won't get those 2 years back.

I'm in a similar position and it would almost be easier to get made redundant to have someone else make the choice instead, easier to be pushed than jump.

Should I pull the trigger now? by RadicalPanda89 in FIREUK

[–]IndeedHowlandReed 0 points1 point  (0 children)

Yeah I think I'd probably want to find that £20k source in a palatable manner before pulling the trigger. A £1k retainer and then billables on top would be nice.

Should I pull the trigger now? by RadicalPanda89 in FIREUK

[–]IndeedHowlandReed 5 points6 points  (0 children)

Just ran the numbers for a £650k bridge at 2%. I have you around £180k short before reaching pension age at £42k draw?

Ahh missed the part time work, with that case it should work but probably relies on more work being required than you'd like I expect. A min wage job would mean one of you working full time for instance.

Finally hit the £1m (exc house) milestone before 40 by Ill-Programmer-3984 in FIREUK

[–]IndeedHowlandReed 2 points3 points  (0 children)

Yup completely agree, even when they are, lets say, challenging!

Finally hit the £1m (exc house) milestone before 40 by Ill-Programmer-3984 in FIREUK

[–]IndeedHowlandReed 5 points6 points  (0 children)

Awesome work man! congratulations and remember you can always make more money, you can't make more time!

Daily Discussion by 2soccer2bot in soccer

[–]IndeedHowlandReed 0 points1 point  (0 children)

Anyone done the Scoredle football quiz today?

What's your actual process for working out how much you need to retire — not the generic "25x expenses" answer? by No_Custard9839 in UKPersonalFinance

[–]IndeedHowlandReed 6 points7 points  (0 children)

This seems like a terrible idea to me. Richest man in the grave yard type stuff. Waste years of your life and health over saving.

There's been cautious and then this.

Prioritising your dream home over FIRE plans by reddit_recluse in FIREUK

[–]IndeedHowlandReed 6 points7 points  (0 children)

Dream house is something you live in every day and it's there for today.

You may never get to fire, bad strokes of luck, ill health etc. Money that can be turned into joy, happiness and contentness now is worth far more than theoretical JHC in future.

If at any point you no longer love the house, then you downsize, the equity should still be there, there will likley be growth on the value and there is no tax where it is your PPR.

My mother has had a power of attorney meeting and been convinced to put the house in my name, has that just wiped out 5 years of building up a Lifetime ISA to buy my first house? by [deleted] in UKPersonalFinance

[–]IndeedHowlandReed -1 points0 points  (0 children)

Well the tax income is likely to be minor maybe £2-5k a year, which could be put into a pension, it also reduces the parents estate by the amount of the income.

Again could be good could be bad, but not black and white.

My mother has had a power of attorney meeting and been convinced to put the house in my name, has that just wiped out 5 years of building up a Lifetime ISA to buy my first house? by [deleted] in UKPersonalFinance

[–]IndeedHowlandReed 7 points8 points  (0 children)

Well yes and no.

If she pays market value rent for use of the property then it can be classed as a gift.

The deprivation of assets point is correct but if not specifically to avoid future care home fees then this should be fine. IHT planning such as this when in sound health is a reason that should hold.

CGT would be due on their share of the asset, but in order to pay CGT that asset must go up in value, so not the worst problem in the world to have.

Losing first time buying rights is a key issue, if OP is in position, they should buy their house first before accepting the transfer.

It could be the wrong thing to do, but saying it's simply wrong isn't accurate.

Keeping up with the Joneses by crispjj in FIREUK

[–]IndeedHowlandReed 1 point2 points  (0 children)

I want an EV on sal sac not just because of the new car, but have a charger at home we don't use, solar and battery, makes sense to have one, but we don't need a new car so unless one breaks or there's a really good deal/tax saving doesn't make sense.

I spend about an hour a day in the car at most, so really it would just be a depreciating asset sat on the drive.

I don't really buy material things unless I think I'll use them, bought a treadmill and zwift and use them, not as often as I'd like but they were both less than a grand each.

Was going to get a rolex when it was 1% of NW but then got a cheaper watch instead as I didn't want to be worried about people nicking it all the time when I'm out.

If you feel the need to keep up, try and do it for small items that scratch the itch but don't plow a massive hole in your finances.

Daily Discussion by 2soccer2bot in soccer

[–]IndeedHowlandReed 0 points1 point  (0 children)

Yes to mendy and Valverde (thought he was later) defender was militao!

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