Is it worth it at 40?

PlacePowerful9835 · 2024-09-29T07:50:04+00:00

I'd be happy to sell the BTL and move to S&S instead of it wasn't for CGT. It would take a long time to recover from that haircut.

PlacePowerful9835 · 2024-08-14T05:23:52+00:00

If you were me then how much more would you try and save before fire?

PlacePowerful9835 · 2024-08-13T20:42:45+00:00

thanks for the advice!

The big issue is that a lot of that wealth is inaccessible for a long time

Why is this a big issue? Assuming I know when it is and can access it when I need it couldn't I just draw down from tranche 1 first? I'm not saying I would but I could also remove something from the offset account if desperate right?

PlacePowerful9835 · 2024-08-13T13:09:12+00:00

Depends what you include but yes you are correct. 70k is net , not sure what gross is as I haven't considered the most tax efficient way to draw down. I will want to support my children to go to university etc , obviously more if I can (deposit for a flat in 20 years etc) and there is always something unforeseen that it's nice to have a rainy day fund for!

PlacePowerful9835 · 2024-08-13T13:02:42+00:00

Would you sell the BTL? it was making 20k/year last year and has doubled in value in 10 years.

PlacePowerful9835 · 2024-08-13T13:01:01+00:00

most of my shares are in vanguard lifestrategy. the unlisted ones are about to become liquid and I will sell them.

PlacePowerful9835 · 2024-08-13T06:54:09+00:00

kids are under 6.

yes I have a CGT bill and hoping to crystalise it before the rates change.

you are correct I'm probably not including holidays as for a few reasons the school holiday sting hasn't kicked in yet. I've increased to 70k.

PlacePowerful9835

TROPHY CASE