Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Facts and figures
Old 02-09-2019, 04:29 AM   #1
Dryer sheet wannabe
 
Join Date: Feb 2018
Posts: 17
Facts and figures

Hi

Financial summary below for those who are good at number crunching.

I'm 47 with 3 kids, 2 live away with ex and 1 at home aged 5. I'm based in the UK so all figures in local currency:

House is owned outright - value 475k
Pension - Sipp (similar to 401k can't access 'til 55) = 410k
Shares and cash - 126k
Small house in Spain owned outright - 60k
Condo in Europe owned outright - 25k
My own company has cash reserves of 160k tax paid which I can withdraw steadily within certain tax limits.

No loans or credit. 2 cars owned outright.

From my age 50 I get a pension of 12k COLA
From my age 60 DW gets a pension of 6k COLA
From my age 67 I get a SS pension of 8.5k COLA
From my age 77 DW gets a SS pension of 8.5k COLA


Measured spending over last 18 months comes out at 37k annual spend inc payments for my 2 absent children.


Plan is to give up work soon and draw down cash stored in my company until age 55, then use the 401k/SIPP which will remain untouched & growing in a 60:40 vanguard fund for the next 8 years when I turn 55.

In the UK healthcare is provided by the state as a result of taxes paid so won't be a financial concern.

I wonder if this puts me 'ready to go', 'short by 'x'' or 'dream on space cowboy'.

All thoughts welcome.

Thanks
__________________

spender400 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-09-2019, 05:19 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 3,280
Welcome spender400.
Have you tried to put your numbers in the Firecalc retirement calculator supported by this site?
Does your annual spend include a budget for large ticket items such a new car and new roof down the road?
__________________

__________________
TGIM
Dtail is offline   Reply With Quote
Old 02-09-2019, 07:14 AM   #3
Dryer sheet wannabe
 
Join Date: Feb 2018
Posts: 17
Hi Dtail, Firecalc looks good for my figures based on how I entered them and there's a bit spare for cars etc
spender400 is offline   Reply With Quote
Old 02-09-2019, 07:25 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 3,280
Quote:
Originally Posted by spender400 View Post
Hi Dtail, Firecalc looks good for my figures based on how I entered them and there's a bit spare for cars etc
Sounds good to me. I assume the 2 children away from home costs is a child support type of costs, which would go away eventually.

Have you thought about what you are retiring to, since you are on the youngish side even for this site?
__________________
TGIM
Dtail is offline   Reply With Quote
Old 02-09-2019, 08:21 AM   #5
Dryer sheet wannabe
 
Join Date: Feb 2018
Posts: 17
Yes that's correct around 4.5k per year drops away in 5 years when child support finishes. For my own plans I'd like to indulge my interests more with time and spend school hols in my house in Spain where life is a bit more relaxed and climate is better.
spender400 is offline   Reply With Quote
Old 02-10-2019, 02:36 PM   #6
Dryer sheet wannabe
 
Join Date: Feb 2018
Posts: 17
I wonder if I could coax a few more opinions as I'm 50:50 on whether I'm FI or not?
__________________

spender400 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Interesting Vignettes of Apple Figures Past and Present haha Other topics 1 03-31-2011 07:33 PM
I was lying to myself about my finances and finally faced the facts... thefed FIRE and Money 37 02-15-2010 09:23 AM
Updated Net Worth Figures - How Do You Rate? intercst Other topics 0 01-22-2003 06:00 PM

» Quick Links

 
All times are GMT -6. The time now is 07:46 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.