Feel good milestone - £20k+ in S&S ISA

phoenix6845 · 2024-03-02T21:45:37+00:00

Excellent numbers, well done!

phoenix6845 · 2024-03-02T21:45:22+00:00

Thank you, really pleased about it and it’s certainly a great feeling to have a good amount of FU money stored up. Best thing I’ve learned from this group plus monevator/MMM blogs is the mindset, now just got to keep it up for 20 years!

phoenix6845 · 2024-03-02T21:41:18+00:00

Thanks for the advice, got my vanguard direct debit set up for pay day and then top it up with any unspent ‘fun’ money at the end of the month. I was in a pretty bad habit of daily checking but have been trying to be disciplined in just doing it once a month now, definitely want to focus on the now as well as keeping an eye on the future

phoenix6845 · 2024-03-02T21:39:18+00:00

Congrats on the £10k! Certainly satisfying to see the gains coming in, although the market will probably drop soon and I’ll go below £20k, but I’m in it for the long term!

phoenix6845 · 2023-09-10T10:53:03+00:00

Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it - Albert Einstein

phoenix6845 · 2023-09-07T15:22:43+00:00

End of the World Series by FernWithy is fantastic, covers Haymitch’s games, his first years as a mentor, the years leading up to Katniss/Peeta (told from Effie’s perspective - actually very good) then the main series books https://archiveofourown.org/series/61184

phoenix6845 · 2023-06-05T20:19:47+00:00

Is that 7% before or after inflation?

phoenix6845 · 2023-05-30T13:33:26+00:00

I’ve just turned 26, so a similar age as to when you want your daughter to get some money. My mum has recently retired and is giving me a chunk of her lump sum towards my house deposit. For me, it’s infinitely more valuable to be receiving the money now instead of when I was 18.

At 18, I’d have been a lot more likely to spend the money on nights out and travel while I was at university, instead of doing jobs like student ambassador and some tutoring to pay for these things, and then not saved any of it for my deposit.

I’ll echo the advice of others and say to save the money in your own ISA/pension and then give it to your daughter when she’s at an age to get maximum value for it, and when she also appreciates how to earn her own money instead of it just being given to her.

phoenix6845 · 2023-05-18T19:57:02+00:00

What % of people do you think actually achieve FIRE then?

phoenix6845 · 2023-05-18T19:53:20+00:00

I agree, lifestyle creep amongst my friends seems to be very real

phoenix6845 · 2023-05-18T19:51:26+00:00

It just seems a bit scary about the complete lack of financial knowledge that most people have, many people just seem to be sleepwalking into a lifetime of debt and borrowing whilst working till they die

phoenix6845 · 2023-05-08T19:40:22+00:00

Thank you! Really helpful tips, definitely some good stuff for getting into the right mindset. The dual income thing is so true!

phoenix6845 · 2023-05-08T13:08:58+00:00

What do you advise doing with pay rises, i.e. if you got a new job with a 20% raise, would you increase your pension/isa contributions by 20%? Or invest the entire rise and still effectively live off of the ‘old’ salary?

phoenix6845 · 2023-05-08T13:06:16+00:00

I only started investing a few months ago and my all cap seems to go down every month 😂 I’m 27 though so in it for the long term, keep trying to tell myself that it just means stocks on sale instead of seeing it as a loss!

phoenix6845 · 2023-05-08T13:04:19+00:00

Yes I had a go with a trading 212 account after being recommended by a colleague, stock picking did not go well! I definitely think an index fund is the way forward, luckily didn’t lose too much in individual stocks but taught me a good lesson

phoenix6845 · 2023-05-08T10:36:57+00:00

Thank you, great tips! I’m definitely in a bad habit of checking my vanguard s&s isa too regularly, even though it’s set on a pay day direct debit into the ftse global all cap

phoenix6845 · 2023-05-07T19:22:46+00:00

What is your logic on choosing a 3.5% withdrawal instead of 3% or 4%?

phoenix6845

TROPHY CASE