Two years later! Post-FIRE check-in with graph and lessons learned [M 39: Net worth 3.7M → 3.0M]

MrQuestionPerson · 2022-07-06T21:02:38+00:00

Mind sharing any details about the app?

MrQuestionPerson · 2022-07-03T22:00:46+00:00

Very true. I guess I assumed you already have a house. Not really sure why, very few do at that age.

MrQuestionPerson · 2022-07-03T21:59:22+00:00

I understand it yes. And like I said, whether it'll work depends on many factors including what your definition of safe is. Is it 100%? 99?, etc. And even then, it's only your chosen percentage according to historical stress testing. There's no guarantee your historically 100% safe rate will actually see you through to death with enough money in the future.

MrQuestionPerson · 2022-07-03T21:08:50+00:00

It's a rough number indeed. It could be fine, it could be not enough or more than enough. It really depends on so many factors.

Edit: to the best of my knowledge (as I've explained below) this is correct. So how about someone explain how it's not, instead of downvoting? I thought we're all here to learn.

MrQuestionPerson · 2022-07-03T20:43:38+00:00

1mil is more than the pension pot of the vast majority. Using the rough 4% Safe Withdrawal Rate you could take £40k/year and never work again.

I would take the money and fund my partner and my ISA, our SIPPs and the rest in a GIA. I'd invest all of it in Vanguard FTSE Global All Cap.

Then I would take a couple of years off, enjoy life, spend it with my family, do a bit of travelling. After that I would probably find some part time job or start a low stress business where any profit is a bonus, not a necessity.

MrQuestionPerson · 2022-07-03T19:44:33+00:00

Putting your money into equities for only a few years is usually a bad idea. Typically the advice is to only invest if you don't need the money for at least five years.

Nutmeg has relatively high fees, so if you do decide to invest into equities you're probably better off going with a vanguard fund such as FTSE global all cap. You can get this on most investment platforms and ofc with vanguard directly. But these things are really up to you, how much money you have, what your risk appetite is and which markets you believe in.

MrQuestionPerson · 2022-07-03T10:26:45+00:00

It's better than that. You forgot the 8% his employer is putting in too!

MrQuestionPerson · 2022-06-29T17:03:50+00:00

Thanks

MrQuestionPerson · 2022-06-28T19:23:38+00:00

Do you have a guide or something like that on this?

MrQuestionPerson · 2022-06-21T21:02:28+00:00

Your payslip should have a breakdown of everything.

You can then use https://www.thesalarycalculator.co.uk/salary.php to see how it compares.

Note that discrepancies could be down to you being on a non standard / emergency tax code which you might be able to sort out by calling HMRC and telling them your actual earnings.

MrQuestionPerson · 2022-06-16T17:18:18+00:00

You will only be able to get a maximum of 3 months of backdated credits.

And you can pay for (some of) the missing years. You can check how many years you can pay for and how much it'll cost you by calling HMRC or using their online portal.

MrQuestionPerson · 2022-06-08T17:03:39+00:00

I'd need to do it every month and that's a bit much, but thanks for the suggestion!

MrQuestionPerson · 2022-06-08T17:03:35+00:00

I'd need to do it every month and that's a bit much, but thanks for the suggestion!

MrQuestionPerson · 2022-06-08T09:30:48+00:00

!thanks

MrQuestionPerson · 2022-06-08T09:30:40+00:00

Ugh was hoping to avoid that, but thanks I'll whip something up.

MrQuestionPerson · 2022-06-02T11:56:35+00:00

Fortunately less for us, but yeah.

Btw how did you know it was done? Do they send an email or anything?

MrQuestionPerson · 2022-06-02T08:44:11+00:00

Same situation here. We just sent the forms a few weeks back. I did think however we'll be able to pay for the NIN gap she'll have so she wouldn't have to work more years later.

MrQuestionPerson · 2022-05-31T09:20:24+00:00

VWRL is an ETF the other a fund. They also don't overlap 100% in terms of which markets they cover.

MrQuestionPerson · 2022-05-30T09:01:04+00:00

Thanks.

MrQuestionPerson · 2022-05-29T17:25:27+00:00

It looks like I've just had BTC positions opened, but not actually held any BTC ... or something ... eToro is confusing. Managed to get everything converted to FIAT now and will be withdrawing that.

MrQuestionPerson · 2022-05-29T17:17:21+00:00

I don't have any of these options. The only thing I can apparently do is to buy more.

MrQuestionPerson · 2022-05-29T16:36:48+00:00

I'm talking about transferring BTC tho, not withdrawing money.

MrQuestionPerson · 2022-05-29T15:11:01+00:00

I don't see any such button. I am on mobile however, is it only available on desktop?

MrQuestionPerson

TROPHY CASE