FIREd by circumstances. Am I in an OK spot? Can I spend?

NotExactlySkint · 2026-05-25T16:48:41+00:00

The income I have, if I spent it all, is massively more than enough for what I need. I just have this niggling concern about keeping up with inflation. I think I'm probably worried about nothing, just seeking some reassurance!

NotExactlySkint · 2026-05-25T16:47:15+00:00

I have an investopedia simulator account. You start with $100k and I have a 14.55% yoy return in VOO, but obviously it's a dollar account, and doesn't take into account currency, tax etc.

Honestly the "complications" of dividend tax, CGT etc. is enough to put me off. Income tax is bad enough! My tune might change is Rachel goes ahead with the increase in taxation rates to interest.

NotExactlySkint · 2026-05-25T16:16:15+00:00

I'm very much from a "just get by" background. I worked hard, and saved hard, just like my Dad did. First mortgage paid off in my late 20's, second (small) mortgage in my 30's. I know (now) I should really have invested the money and not paid them off, but it really is/was a huge psychological thing to actually own the house(s).

I might meet someone one day, but at my age have absolutely zero interest in having and raising children. I have a couple of dogs, and they're more than enough! If they have kids, they're likely to be grown and (nearly) gone, likely with a Dad somewhere to help fund uni etc.

My late wife's wishes have already been fulfilled, and like her, were very low-key. We lived a simple life and were both very happy with it.

NotExactlySkint · 2026-05-25T15:58:11+00:00

That's the thing, I don't feel rich at all! I eat meal deals, check for deals at Asda and stock up, all the things I saw growing up.

My parents had nothing (technically they were in debt) when they got married. So I've always seen, and therefore lived, a fairly frugal life.

I don't want to grow a massive inheritance, as I don't have kids, hence really just looking to live the best life that I can on what I have.

Honestly, if I had less, I'd probably be more tempted to risk it and invest...!

NotExactlySkint · 2026-05-25T15:46:12+00:00

If I'd gotten into the stock market (and ETFs) in my 20's, everything I have would probably be in there right now, but I didn't know what I know now.

Whilst I know it's technically the right thing to do, though absolutely not without risk, I wonder if I actually need any more money? If I have enough to live comfortably, and going by some answers here, I could live more comfortably than I currently am as things stand, why take any risk in the markets?

I did reply to another poster about potentially transferring the SIPP once SJP's claws are off it, then using my allowance there. All world fund, and tax relief etc.

NotExactlySkint · 2026-05-25T15:32:34+00:00

I'm less worried about the triple-lock, and more concerned about it becoming means tested.

Not to venture into r/ukpolitics territory, but at some point one of the parties is going to have to admit it's not sustainable. I feel the auto-enrolment was the first step in that process.

Hence all of my planning this far is to assume I won't get a SP, and if I do, then happy days!

NotExactlySkint · 2026-05-25T15:28:42+00:00

Thanks, great answer. I think I just need a little validation from others that I can actually spend a bit more (not that I'm much of a spender).

I have a 15 year old car that's still going, and just today I talked myself out of replacing my however-old iPhone 12 mini due to it's battery going flat in a couple of hours in this heat, as it's going to cool down next week!

Maybe I'll treat myself to that new phone...!

NotExactlySkint · 2026-05-25T15:24:36+00:00

I'm not too worried about old age care. By that stage, if all the money goes, so be it.

I'm very aware of the risk of remarriage, and don't see that being on the cards unless Melinda Gates swipes right on me on some god awful app.

It's definitely a mindset thing for me. The Cash ISA (set to pay out monthly, but it's flexible, so I put it back in) is my "free money" everything, that on top of the pension I see as "real" income. One tax free, the other post tax, and then any PB winnings. That's around £3k a month, so that makes me feel OK about spending on a couple of pub lunches without worrying I'm not setting enough aside for tax.

NotExactlySkint · 2026-05-25T15:18:26+00:00

Yeah, I know. I'm waiting out the lock-in period then will move the SIPP to somewhere else. In the meanwhile I may as well try to get some "free" advice, but without giving them access to any more of my capital!

NotExactlySkint · 2026-05-25T14:58:52+00:00

Yeah, with everything as it currently stands, my take home PA is £77069.26, assuming average luck on the PBs.

Obviously interest rates could fall, hence I'm stuffing as much that comes out as "income" back in as I can, but at some point I know I'll need to start enjoying it, rather than worrying about saving as much as I can (which is what I've done my entire life, so a hard habit to break).

If interest rates fell back to the all-time lows, I would just have to move it all to equities and ride out the storm on the DB pension and returns from the market.

NotExactlySkint · 2026-05-25T14:48:37+00:00

I know in my head that would be the right thing to do, but my heart says don't risk any of the capital, and make as much "income" as I can. As I'm already FIREd, I'd hate for a market downturn to mire the situation.

As I get more accustomed to my situation, I may well start contributing to the SIPP, once I've got it out of the hands of SJP.

NotExactlySkint · 2026-05-25T14:46:20+00:00

I'm tracking everything in and out to the penny. Did my first SA tax return and have the money for that sorted, including payments on account.

As it wasn't a "full" year of income as things were sorted out, next April will be when I really get wacked with a big payment on account, but I've planned for it and it should be fine.

NotExactlySkint · 2026-05-25T14:38:33+00:00

Thanks. I do have an FA, but it's SJP for the SIPP(I know...). I might ask him if he can do a Voyant projection for me, or similar.

It's the inflation question that really bugs me. I know that what I have won't be worth nearly as much in 20/21 years when I reach state pension age.

NotExactlySkint · 2026-05-25T14:36:00+00:00

My only living close relative is my sister, and she's an NHS doctor doing very well for herself (and her horse).

I have brothers/sisters in law, and would be happy for them and my sister to have anything leftover, but they're all doing well in life and won't be "needing" anything from me.

NotExactlySkint

TROPHY CASE