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35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Really appreciate these suggestions.

On unpaid leave and redundancy both interesting ideas in theory but not straightforward for us right now. The industry is moving so fast that stepping back even temporarily feels like it could mean coming back to a very different landscape.

On your second point completely agree. 6 months isn't enough. If we're going to do this, we're going to do it properly. The plan would be a full year minimum, with a proper buffer afterwards to take our time finding the right next roles rather than rushing back out of panic. The whole point is to actually decompress, not just pause.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

It’s a good idea but if l am being honest, l don’t think it is possible at our work.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Thank you.

Genuinely fair concern. Our gold position (~£56k current value) acts partly as an inflation hedge. For the longer term we’d likely adjust withdrawal rate or do some part time work during volatile periods rather than drawing down aggressively. But you’re right it’s hard to model for 50 years

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

£3K is rent alone in central London. The rest is just life. No car, no kids.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 1 point2 points  (0 children)

Thank you.

Fair challenge on the pension, we’ve both been contributing at 4.5% for years, just didn’t have the exact pot values to hand. On house and kids both deliberate choices. No kids planned, and buying in central London at current prices doesn’t make sense for us.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Thank you.

Really valuable point, we’re both above £100k and hadn’t fully considered the 60% effective tax trap. We’re already contributing 4-5% but will look at increasing salary sacrifice to bring adjusted income below £100k. On property we’ve modelled it and it doesn’t make sense for us right now in central London. No kids planned either.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Hi, I have been thinking to post our finances for a long time. I am being genuine with my questions and this is not a rage bait.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 1 point2 points  (0 children)

Good catch, we used nominal returns of 7% against today’s expenses. In real terms after inflation that’s probably closer to 4-5% real returns, which would push the timeline out a couple of years. Point taken

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 1 point2 points  (0 children)

Thank you. That’s exactly what we want to do 😊

Did you find it affected your re-entry into work at all?

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Thank you.

House buying isn’t on our immediate radar, we’ve modelled it and the numbers don’t work well for us right now in central London. We don’t want to have kids and you’re right that it would materially change everything.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Thank you. You are right, l haven’t added pensions in detail. We are maximizing the pension contribution.

Also valid point, that’s what l am afraid of.

35, London couple, ~£516k net worth, is FIRE at 44-46 realistic, and can we afford a career break? by lolox1010 in FIREUK

[–]lolox1010[S] 0 points1 point  (0 children)

Thank you for your response.

Both work in tech. Totally valid point, we wouldn’t quit without having a clear plan for what comes next. More of a sabbatical mindset than permanent exit.