amanwithaplan
New Member
- Messages
- 9
I've been mulling over the next few years, and while it's impossible to predict the future, I've been trying to come up with a general plan. I thought I would ask people here who are smarter and more experienced than me. I'm also curious if there's any sort of modeling excels or programs that people use.
I don't enjoy my job, but it allows me to save. However, I wonder if it's paradoxical to work a job in order to save, in order to not need to work anymore. e.g. could I just skip ahead to taking on something new that doesn't feel so draining.
My actual personal spending is quite low. e.g. my main outgoings are pension and mortgage, both of which will tail off at some point.
Maybe wistful on my part, but I'm thinking when I'm 40 I've have added ~100k to my pension, and ~50k to my investment account. Potentially brining that to ~500k. Which at that age, could be enough, if left to compound for 15-20 years (CGT would reduce the investment account). At that point I can ease off and take a role with the view of covering mortgage and day to day. Do people do such tiered style retirement? Changing once they don't have to pay for mortgage/retirement?
Personal details
Age: 36
Number and age of children: 0
Income and expenditure
Annual gross income from employment or profession: ~100k total package
Type of employment: Private sector
In general: saving
Monthly:
Total pension contributions (incl employer) 2.1k per month
My share of mortgage is 1400, sometimes I overpay this
My share of monthly bills and running house: 600
Extra saving 1k a month to investment account
Summary of Assets and Liabilities
Home: 19 years left on the mortgage ~440k
Pensions: 275k
Investment Account: 60k
Both 100% equities.
Other borrowings – car loans/personal loans etc: 0
I don't hold any cash.
I don't enjoy my job, but it allows me to save. However, I wonder if it's paradoxical to work a job in order to save, in order to not need to work anymore. e.g. could I just skip ahead to taking on something new that doesn't feel so draining.
My actual personal spending is quite low. e.g. my main outgoings are pension and mortgage, both of which will tail off at some point.
Maybe wistful on my part, but I'm thinking when I'm 40 I've have added ~100k to my pension, and ~50k to my investment account. Potentially brining that to ~500k. Which at that age, could be enough, if left to compound for 15-20 years (CGT would reduce the investment account). At that point I can ease off and take a role with the view of covering mortgage and day to day. Do people do such tiered style retirement? Changing once they don't have to pay for mortgage/retirement?
Personal details
Age: 36
Number and age of children: 0
Income and expenditure
Annual gross income from employment or profession: ~100k total package
Type of employment: Private sector
In general: saving
Monthly:
Total pension contributions (incl employer) 2.1k per month
My share of mortgage is 1400, sometimes I overpay this
My share of monthly bills and running house: 600
Extra saving 1k a month to investment account
Summary of Assets and Liabilities
Home: 19 years left on the mortgage ~440k
Pensions: 275k
Investment Account: 60k
Both 100% equities.
Other borrowings – car loans/personal loans etc: 0
I don't hold any cash.