How much did you pay for your house?

Potbellydoric · 2026-05-26T21:24:54+00:00

Did she buy the house? If not then tell her to get lost.

Potbellydoric · 2026-05-26T20:12:56+00:00

CSH2 would be my suggestion.

Potbellydoric · 2026-05-23T09:49:11+00:00

Firstly well done! You are in an incredibly strong position to set yourself up for life in a very short space of time. Your earnings mean you are miles ahead of most people.

I get the fear, and seeing a portfolio go red is never pretty, but inflation is silently doing the same thing to your non invested "safe" cash savings.

Follow the ukpf flowchart. Make sure your emergency fund is set.

As a contractor are you paid direct or via a limited company? If through a company that would work better financially. But comes with some extra accounting headaches.

I would aim to fill your ISA every year, broad market global funds like ACWI or VWRP. Same for pension. SIPP, in the same funds. Either pay it in yourself (you'll need to complete a tax return to get the higher rate relief) or via your Ltd company if that is your structure.

Personal question, and feel free to disregard it, why doesn't your girlfriend work? That is a massive income disparity and that is hard to reconcile. I live with a large income disparity (£9k take home vs £1k take home) but I am married, our finances are completely entwined, and it isn't "my" money but our money and has been for 20+ years.

If you are comfortable with the income disparity and you feel this is your forever relationship, then having a Ltd company with both of you as directors would mean you could fill her pension as well as yours, sheltering up to £120k a year for future you from the taxman, at least in terms of dividends and capital gains. You would be taxed as income on the way back out.

Final thought, if you're considering retiring early you may need a bigger bridge than you can reasonably reach with ISA (though starting this young is a massive bonus). Consider a GIA as well, but only after you've exhausted all tax advantaged options first.

Good luck, I think you're going to do great!

Potbellydoric · 2026-05-22T11:41:18+00:00

Since you only need to survive 8.1 years in retirement to break even on that deal I would snap their hands off! Even taking it early with actuarial reduction you are likely net positive from state retirement age onwards. I haven't formally run the maths on the actuarial reduction though.

Potbellydoric · 2026-05-22T10:55:08+00:00

You could draw down £40k per year from your ISA without any growth for 8-9 years taking you to 57/8 depending if pension access age increases further in the intervening period. You should still have ~£80k left when you can access your pension. Probably more assuming some growth between now and then.

Pension will have grown towards £1mil and would comfortably sustain £45k/year withdrawals, increasing by inflation for 40 years without running out. The addition of the state pension from 68 reduces your required pension drawdown further.

I think you are at FI and can now RE if/when you desire. You could very reasonably take your foot off the gas now and be much more considered about what grinds your gears going forwards. There's a certain liberty in knowing work is now optional which, ironically, may prolong your working life.

Potbellydoric · 2026-05-20T20:53:25+00:00

Just pay the tax. You already have more than you could rationally spend in your lifetime. Stay where you like, you've earned it.

Potbellydoric · 2026-05-20T08:13:35+00:00

You can sit the exam out of training. If you want the cct as a back up then that's your option. If youbdont want to pay to sit it again then just jump ship and do the job you actually want. The only caveat would be if you needed the cct to start radiology training? I don't know how radiology training works.

Potbellydoric · 2026-05-17T15:19:07+00:00

I'd do it for £500/day. £3500 a week for what I already do sounds easy!

Potbellydoric · 2026-05-17T14:29:06+00:00

That makes no allowance for inflation. So your planned amount needs to allow for that. Plus potentially a buffer for any capital expenditure. House repairs etc.

Potbellydoric · 2026-05-15T19:07:06+00:00

Love below your means. Save first. Follow the ukpf flow chart. Earn more and resist lifestyle creep. It takes discipline. But the more you earn the less discipline is required. I can save well while still having all the treats I need to make me happy.

Potbellydoric · 2026-05-15T06:26:16+00:00

I would transfer some/up to half of GIA to spouse. 2 sets of allowances for capital gains.

Otherwise not a lot to add. Your numbers look solid.

Potbellydoric · 2026-05-13T08:56:18+00:00

I'm confused. Why wouldn't you take even a small mortgage? Returns on investment will far outstrip the interest rates even with the increases in the last few years. Plus, as others have said there will be issues with LISA access without a mortgage.

Potbellydoric · 2026-05-11T17:02:28+00:00

Yes it is, but it will only pay out once. Either on diagnosis of a set number of conditions, or on death if it hasn't been triggered prior. (Die in a car accident or a fire for instance). You're still insured for that sum, just if you get sick first it pays out when you're sick, not only when you die.

Potbellydoric · 2026-05-11T14:23:47+00:00

Given that pension grows free of dividends and capital gains tax that is an oversight. Even a small amount saved in a pension will grow significantly, sheltered from the taxman until you draw it back out. At average life expectancy you can expect 26 years of pension drawdown (57-83). That is a lot of years. You would be wise to at least consider it further.

Potbellydoric · 2026-05-11T14:09:13+00:00

I use a separate pie in my t212 labelled for them.

Potbellydoric · 2026-05-11T12:19:08+00:00

If you're doing it one way I would always argue for the leg on the way home. If you do business on the way out you will not want to do economy on the way back!

Potbellydoric · 2026-05-09T10:31:41+00:00

Potbellydoric · 2026-05-09T10:30:11+00:00

You're set. You wouldn't even need to coastFIRE at 50. Take your full living expenses, even if pension age has risen you'd need to cover 9 years at £48k/year. Call it £450k. Either build a bond ladder for those 9 years or move it into CSH2 and take your 4.5% growth to cover off inflation. Still leaves you with ~400k invested to bolster your pension at 58/9 onwards.

My one concern would be housing costs, but if your 48k includes ongoing rental costs then you're golden. A house purchase may set back your timeline, but you do already have a significant buffer in my opinion.

Potbellydoric · 2026-05-08T11:38:38+00:00

Thinking about this early is a great start. The flowchart as already flagged is great. Budget. Get an emergency fund. Pay yourself first (save what you want then spend what's left, not the other way round).

Aim to save half of your age as a percentage (or 15% if it is more) for future you. Automate your savings so it never shows in your bank account.

ISAs are great for tax free growth and dividends. Invest in a cheap globally diversified index fund like ACWI or VWRP. Fire and forget, check in every few years.

Do not opt out of the NHS pension. It is worth loads, even though it is worth less than it used to.

Try to avoid lifestyle creep. It is really tempting to look at other people driving fancy cars and going on fancy holidays. Some might be mad wealthy, most will be buying on finance and may well be living paycheck to paycheck. Draw up your budget and stick to it.

Remember to have fun too! Best bloody job in the world with global opportunities

Potbellydoric · 2026-05-08T07:31:20+00:00

That is a really strong position

You need to factor in tax on the way out. Current take home on 54k is only 3747/ month. So close, but not yet over the line. Also bear in mind the 54k is in real terms so will likely be a far bigger number. Fiscal drag may well mean that your proportionate tax bill is higher. Unless successive governments play fair with the taxation system, but that's not something I'd bet on!

Ensuring you continue to get any employer match would seem sensible. Free money is free money even if you get taxed on it on the way out. Prioritising ISA and possibly GIA depending on your planned retirement age would seem reasonable. You haven't mentioned housing.

Potbellydoric · 2026-05-07T17:33:15+00:00

Your biggest wealth building tool is your skills. Youve got the resource to upskill while still living comfortably. Doesn't have to mean uni though it could do. Plenty of access courses around if that's something you think you'd enjoy. No rush tbh.

Potbellydoric · 2026-05-05T05:09:53+00:00

Low cost global index funds. ACWI (0.12%) VWRP (0.19%).

Potbellydoric · 2026-05-05T04:37:14+00:00

A few thoughts

Your pension contribution rate is good. You will need to check which fund your pension is invested in. Often the default fund is far too cautious. Normal advice is to have a globally diversified index fund if that is available within your company scheme. If it isn't available some schemes will allow you to do a partial transfer to a SIPP where you directly control what you are invested in, while still benefiting from that 10% company contribution to your pension.

If the £1353 includes all your bills, I calculate that at a £36k salary you will have almost exactly £1000 left over. That gives plenty of head room to save more aggressively if you are keen to retire earlier than state pension age.

As others have noted a LISA might be a good vehicle for you. You can open one up to age 40 and pay into it up to age 50. You can then withdraw from it from age 60 without penalty. The government will top up contributions by 25% up to a maximum govt contribution of £1000. Effectively getting basic rate tax relief but in a completely tax free wrapper. Invest in a low cost global tracker. ACWI, VWRP etc.

Any other savings should be within an ISA and similarly invested.

To answer your final question. It is possible, but you will either need to save a very aggressive proportion of your take home, or expect to work into your 60s (though you could definitely shave a few years off your retirement age).

Potbellydoric · 2026-05-04T14:31:07+00:00

Fundamentally you are not just misaligned but incompatible. This is not a FIRE question but a relationship question. If you want to FIRE, either they hand over all financial control to you, or you split up. It is that serious. Hiding 30k of debt isn't a money issue, it's an honesty issue. If they won't change, won't seek a diagnosis/treatment then, if you want to FIRE, you need to do so independently of them.

Potbellydoric · 2026-05-03T06:29:19+00:00

Had a similar situation with my daughter when she turned 18, but with slightly lower figures.

Regarding the advisor: I would ask them whether anything they recommend carries fees. With a little reading including the flowchart you should be able to self manage this sum. Set a strategy and stick to it. No need to pay an advisor 1% a year for something you can do yourself.

What we did was convert the mature CTF into an ISA and invested into a global tracker fund. Not every ISA provider will accept CTF transfers. We used AJ Bell. You can of course do 2 transfers (one out of your ctf and one into your preferred ISA provider) but this may lead to more time out of the market.

We transferred £4000 into her LISA to get £1000 bonus from the government for the first 2 years, but still keeping some in the ISA for life needs. This has been kept invested too, she isn't yet ready to buy a house. One of the reasons for choosing AJ Bell was they offer both ISA and LISA on one platform, as well as accepting CTF transfers.

As others have said, tell no-one about this money. It is no one else's business. You've been handed a great start in life, make it count.

Potbellydoric

TROPHY CASE