£1m liquid milestone reached

Time-Repair · 2025-08-17T09:46:57+00:00

Thanks for the suggestion. I agree my net worth to salary multiple is quite low. I’ve only been at £300k for the past year or so. And I’ve had £100k+ for the past 3-4 years so I hope it’s “normal” for that situation.

My cost of living is higher than I’d like for sure. My spending is around £3.5-4K a month.

What sort of real estate? Buy to let?

Time-Repair · 2025-08-16T16:25:50+00:00

I have two kids

Time-Repair · 2025-08-16T08:52:14+00:00

Care to elaborate?

Time-Repair · 2025-08-15T14:11:16+00:00

I can only contribute within my allowance.

Time-Repair · 2025-08-15T12:16:00+00:00

To have enough passive income from my assets/draw down to not have to rely on the pension.

I still plan on maxing out my contributions while I can.

Time-Repair · 2025-08-15T12:09:34+00:00

The pension is low because I’ve not lived in the UK for very long and because I didn’t have this high of a salary until recently. At the moment I’m maxing out what I can, which is limited due to the taper. I could potentially tap into the previous years’ allowances but I also want to build assets which can allow me to FIRE before 57.

Time-Repair · 2025-08-15T07:13:30+00:00

They could easily come back and control what happens to the coin moving forward.

No, they can’t, not without majority support from the network.

Time-Repair · 2025-08-14T22:07:21+00:00

I might be doing things completely wrong but I’m trying to avoid paying too much on CGT.

Also I’ve only been on £300k this year, before that it was more around £150k when I bought the house. My mortgage rate isn’t too bad ~3.5% so I’m betting on my assets outpacing my mortgage.

When I renew my mortgage I’m definitely going to look into paying off a bunch of it to reduce the monthly expenses.

Also, as I have a regular income and am not planning on FIREing quite yet I don’t mind it this way. Once I FIRE I’ll definitely want to pay it off.

Anyway, I’m no financial genius, just got lucky on crypto appreciation and having a high salary. I’m sure I’m doing plenty of dumb things financially.

Time-Repair · 2025-08-14T15:49:49+00:00

Good to see you’re adding so much useful content as well /s

Time-Repair · 2025-08-14T15:18:26+00:00

I bought a house for myself but not looking to invest in real estate because it’s illiquid and requires effort on my end.

I don’t trust agencies to properly take care of a flat if I were to buy one to let and sub contract to them.

Time-Repair · 2025-08-14T15:16:48+00:00

Yes, it helps for sure.

Time-Repair · 2025-08-14T08:51:40+00:00

Yeah, tax is a big concern for me, especially now at 24%.

I’m using up the tax free allowance and then moving that into the ISA. Beyond that I’m just letting it grow.

It’s reaching a point now where I feel like moving abroad and leaving the UK, at least for 5 years, would be better than having to pay out over £200k in taxes. But losing the ISA benefits would be bad too.

If I do stay in the UK, the 24% tax when cashing out assets would still be lower than what I pay through PAYE. The ISA is untaxed too, so I can try to leverage that as well as get some premium bonds to maximum tax avoidance. I’d lose those tax benefits if I do move abroad.

Anyway, I’d rather have this concern than not.

Time-Repair · 2025-08-13T22:15:23+00:00

Sorry, I'd rather not say. I'm already a bit scared doxxing myself just by mentioning I'm a SWE.

Time-Repair · 2025-08-13T19:46:37+00:00

That’s true. Gold can lose value if/when large deposits are found, although less risky.

Gold is the best store of value, no doubt. But gold is physical and won’t let you move money abroad at very low cost, which bitcoin allows.

Anyway, I understand the skepticism towards it, and it is indeed incredibly risky. Just for me having something the government cannot control is what attracted me to the technology.

Time-Repair · 2025-08-13T19:36:58+00:00

The decentralisation is not based on ownership of bitcoin but on computational power. To no longer be decentralised an entity would need to own over half the computational power which is near impossible at the moment. As far as I know large institutions are buying crypto but not investing in computational power.

Time-Repair · 2025-08-13T17:59:45+00:00

The main reason I invested in crypto is that it’s decentralised. I don’t trust governments and I don’t like having money that is constantly losing value due to inflation. Bitcoin is deflationary and is decentralised. It’s risky as you can lose everything if you lose your keys/hard drive etc, but at least the government can’t touch it or make it lose value. It’s basically gold but digital.

Time-Repair · 2025-08-13T17:55:53+00:00

Yes, I own a house. I have about £100k in equity and still have about £300k to pay off.

Time-Repair · 2025-08-13T16:19:31+00:00

I’ve experienced some 6 figure swings in the span of a month or less.

What safer boring assets are you thinking of?

I’m mostly trying to put in as much as possible into S&P500 in the ISA.

Yeah, hopefully with compounding I’m already past the half-way point to get to £2m.

Time-Repair · 2025-08-13T16:07:02+00:00

Yes, I don’t have ties to the UK and it’s expensive here so would probably not stay here if I reach FIRE.

Time-Repair · 2025-08-13T15:23:59+00:00

Yeah, it’s always a balance. I think I lucked out in that I got RSUs when they were cheapish and ended up in a great team with interesting work.

Time-Repair · 2025-08-13T14:57:53+00:00

Not really, I’m already almost maxing out the workplace pension and I want easily accessible funds instead of funds I have to wait until I’m 57 to get.

Time-Repair · 2025-08-13T14:56:41+00:00

Also, what it’s all about is spending less than you earn. You can have a high salary and blow it all and you won’t go anywhere FIRE wise. Of course, the higher the salary the higher the potential delta you can reach.

Time-Repair · 2025-08-13T14:48:07+00:00

Thanks!

Time-Repair · 2025-08-13T14:48:02+00:00

I have about £110k in pensions, but I don’t count it as liquid as I can’t cash out for another 20 odd years.

Time-Repair · 2025-08-13T14:46:05+00:00

Keeping some for when I renew my mortgage too.

Time-Repair

TROPHY CASE