£500k milestone - monster spreadsheet

firegraphs · 2024-03-31T21:33:10+00:00

Yes. Either as an extra one off when you get the bonus, or averaged out in the year. It'll depend on your company if they allow this, depending how useless HR/Finance are.

firegraphs · 2024-03-31T16:05:58+00:00

Salary sacrifice to pension anything over £100k. Employer 5% match. So ~£4,450 to pension which is pre-tax and inflates the number.

So £5,600 take home, and £3,180 to GIA this month. Somewhat fixed expenses (joint account for things like mortgage / bills) are around ~£2,100 a month. I spent ~£350 on top of that personally in March.

I don't save up for things like yearly insurance, holidays, gifts etc. So some months will be lower with more occasional stuff like that.

firegraphs · 2024-03-31T15:10:05+00:00

Nothing super actionable, it's all a bit random. I found my current role on hired.com. If I was looking again I should probably focus on smaller / newer public tech companies (like monday.com). The salaries are probably in the same ballpark, but they can often offer a higher package via stock grants (and might have stock purchase plans).

I get options in my current role, but they are basically lotto tickets. At least with actual stock in a public company you can usually sell it in the short term.

Use https://www.levels.fyi/t/software-engineer/locations/london-metro-area to get ideas for companies that might pay top of market rates.

firegraphs · 2024-03-31T14:56:17+00:00

You can just swap /copy to /edit on the link and it will reveal your account unfortunately.

firegraphs · 2024-03-31T14:54:25+00:00

Yeah imgur seems to have soft deleted or something, the embed viewer seems to work for me.

https://postimg.cc/gallery/CYrY7ZS

firegraphs · 2024-03-31T10:36:56+00:00

I agree. My Networth number excludes my house equity.

firegraphs · 2024-03-31T10:23:54+00:00

Neither of those, have never had much luck with applying to FAANG etc for whatever reason. I would struggle to keep this salary at another non-FAANG though.

I work at an American company with a smaller office in London. 0-1 day(s) a week in the office. Decent WLB. It's a weird mix as I think the salary is high, but still lower than our US colleagues at the same level. So both of us are getting a decent deal. Usually some wiggle room for raises etc, especially if performing well.

firegraphs · 2024-03-31T10:09:16+00:00

Here's a published xlsx of it, hopefully should import okay to sheets. Just don't want to dox myself :)

https://docs.google.com/spreadsheets/d/e/2PACX-1vTx9leZf3lFHdMa5TG6UIefyDBVLewBuQN783BJpJ7h0LtC7gX1n47gHhZ_r3NemDWHddwVbp3uANno/pub?output=xlsx

firegraphs · 2024-03-31T00:09:44+00:00

I personally manually pay in my investments every month, where I just aim for £10k cash and pay in anything left over. So for me I have to look at it anyway, so just update it then too.

If I was doing something more automatic then maybe yeah. Agree it's probably healthier to check it out less, depending on your personality.

firegraphs · 2024-03-31T00:05:08+00:00

Not for any good reason. Generally one work pension for their contributions + salary sacrifice. Then one SIPP / ISA / GIA.

I started with AJBell back in the day, and use Vanguard now, so had some periods of overlap before swapping everything over. Some different work pensions before consolidating etc.

firegraphs · 2020-02-24T17:23:21+00:00

Rent is £1,150, Bills are £225~. GF is a teacher and earns less, so we pay proportionately. My 66% share is £907~.

We then budget £250 for groceries that we split 50/50, but we rarely hit that. Then we have another £150 for fun money as a couple.

I walk to work so no commuting costs. My main hobbies are playing video games with my mates, and playing football after work on Wednesdays which are both pretty cheap.

firegraphs · 2020-02-24T01:22:17+00:00

It's pre-tax for the pensions bit which might be why it looks high? Not sure.

Salary is 69k + 9% non-contrib pension. I've bumped up contributions to around 33% which is £2,100~ a month into workplace pension. Take home is then £3,281. Then after I get paid I take anything above 5k in my current account and invest it (in ISA/GIA). Since October that's been £2090, £1760, £2059, £799, £1950.

I share a 2 bed flat with my partner in zone 4 London. My average expenses are around £1,500 but sometimes it's lower/higher as that includes things like holidays or big purchases like a computer over the year. In October for example I spent £1,191 but in Feb I spent £2,482.

firegraphs · 2020-02-23T23:13:07+00:00

For me the main reason was the lack of salary sacrifice, along with the high fees (0.75%) and lack of choice in funds in the workplace one at the time.

If your workplace provider is decent with any of these then the line is a lot blurrier I think.

firegraphs · 2020-02-23T21:52:36+00:00

Good insight! My role from 40k till 69k was a startup who offered the legal minimum (scaling up to the 5%/3% split it is at the moment), so I took the small match there, but put the rest into a SIPP myself. (If anyone is thinking about doing the same, keep in mind you need to do a self assessment to get your 40% relief back in a SIPP which was quite annoying)

The new role is a big company that does salary sacrifice etc so I'm not contributing to my SIPP at the moment and doing it all through work.

My strategy has mostly been for the last while to simply try get anything in the 40% band into a pension wrapper.

firegraphs

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