manofstraw
Confused about dryer sheets
- Joined
- Jun 29, 2014
- Messages
- 5
Hello all.
May I start by saying how useful, and inspiring, I have already found this forum, so thank-you. I must admit to not being overly familiar with American tax, saving and pension vehicles (and for that I apologise) but I've done my best to read up and convert to the British equivalent.
I'm 24, from Derbyshire and aim to be retired at about 50, with the usual trillion caveats attached to that number! I am at the very start of this journey so I only currently have:
£15K equity
£30K SIPP (self-managed pension)
£10K ISA (tax-free investment account)
Total = approx 75K USD
I am not currently married but could realistically expect the above to near double (possibly the biggest caveat!).
I am looking for advice about how others split their income each month/calendar year between, but not limited to:
- pension contributions
- mortgage repayments (overpayments, lump sum pay-offs etc.)
- fixed interest savings accounts
- bonds (outside of a pension)
- stocks/shares portfolio (outside of a pension)
- management funds (outside of a pension)
- ordinary bank account
- property investment
It'd be very helpful to hear from those with 10, 20 or 30 years on me about what you learned about maximising income.
As my pension will only be accessible to me at 55 (thanks George Osborne!) I'd be interested to know, in particular, what investments people have made outside of pension plans.
Oh, and I look forward to my very first trip to the States this December - Vegas may add another 5 years onto target retirement date!
Thanks for reading.
May I start by saying how useful, and inspiring, I have already found this forum, so thank-you. I must admit to not being overly familiar with American tax, saving and pension vehicles (and for that I apologise) but I've done my best to read up and convert to the British equivalent.
I'm 24, from Derbyshire and aim to be retired at about 50, with the usual trillion caveats attached to that number! I am at the very start of this journey so I only currently have:
£15K equity
£30K SIPP (self-managed pension)
£10K ISA (tax-free investment account)
Total = approx 75K USD
I am not currently married but could realistically expect the above to near double (possibly the biggest caveat!).
I am looking for advice about how others split their income each month/calendar year between, but not limited to:
- pension contributions
- mortgage repayments (overpayments, lump sum pay-offs etc.)
- fixed interest savings accounts
- bonds (outside of a pension)
- stocks/shares portfolio (outside of a pension)
- management funds (outside of a pension)
- ordinary bank account
- property investment
It'd be very helpful to hear from those with 10, 20 or 30 years on me about what you learned about maximising income.
As my pension will only be accessible to me at 55 (thanks George Osborne!) I'd be interested to know, in particular, what investments people have made outside of pension plans.
Oh, and I look forward to my very first trip to the States this December - Vegas may add another 5 years onto target retirement date!
Thanks for reading.