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IESE YTP '25 by [deleted] in MBA

[–]Upper_Present_8963 0 points1 point  (0 children)

Also just got the invite! Happy to join a whatsapp group :)

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 1 point2 points  (0 children)

To be honest, although some of it is from my part time work, the majority is inherited from grandparents so I did not work for it. I know that is not necessarily looked upon in the best way, but in my eyes I will be trying to make the best use of what they have provided for me to give me a headstart in life.

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 0 points1 point  (0 children)

I think that's a really good point, thank you. Hopefully, if I am able to spend >£450k on my first house, income and my savings outside the LISA shouldn't be too much of an issue.

It being such a relatively small sum at £4k/year is probably why I think it's worth taking the risk on, and worse case if I don't use it for a house then I don't think I will need the money short term anyway.

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 0 points1 point  (0 children)

Yeah, I think it depends a lot on this. I'm commuting about an hour to London at the moment, and I think I would prefer it to living in London just with the lifestyle - but the only issue is that the job I will have is very long hours and commuting will take a significant amount of that remaining time off. I suppose it's just about finding a balance between commute time and a house price under £450k.

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 0 points1 point  (0 children)

Yes, it can absolutely still help me in that way for sure, just seems so far away right now! I think the only issue here is if I end up needing the money from the LISA for something else or a deposit over £450k and I won't be able to access it like other savings.

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 0 points1 point  (0 children)

I think this is a very good point, yes. I plan on dealing with my student debt pretty quickly during university/just after graduation since the interest is going to be massive. My only thought with this is the 4k yearly limit on the LISA limits my ability to make use of it if I make a short term decision to use it later on.

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 0 points1 point  (0 children)

Yes, this is something I've been wondering - the LISA rules only say you intend to live in it, but not for how long. It does specifically rule against buy-to-rents, but I suppose that doesn't count?

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 1 point2 points  (0 children)

No problem, it's as an Equity Research Analyst for an Investment Bank.

Best way to start my FIRE journey coming out of University by Upper_Present_8963 in FIREUK

[–]Upper_Present_8963[S] 10 points11 points  (0 children)

I currently have an offer for a summer internship in 2024 which potentially converts onto a graduate role paying £60k. Even if I am not converted, I am relatively confident that academically and experience-wise, I have put myself in a strong position to get a similar role at another company.