Hello, I am considering giving up the 9-5 corporate life (which is slowly driving me insane) but just wanted to see what other people would do in my situation. Ideally I'd like to pursue a more creative life as I used to paint but that was ages ago. By the way I live a fairly frugal lifestyle, have a partner (no kids and no plans to have any) and we aren't big spenders (we buy cheap clothes from Primark/Wallmart!). Although I live in London I've also added dollars as I think many people on this site are from the USA.
Current Income - $65,000 / £45,000
Partners Income - $30,000 / £20,000
Home Value (2 bed flat) - $875,000 / £600,000 (no mortgage)
Rental Income if whole property let - $35,000 / £24,000
Rental Income if spare room only let - $17,500 / £12,000 (£7500 tax free in UK)
Investments -
Property 1 value - $220,000 / £150,000 (no mortgage)
Property 1 net annual rental Income - $6,000 / £4100
Property 2 value - $260,000 / £180,000 (no mortgage)
Property 2 net annual rental Income - $6,000 / £4100
Property 3 value - $130,000 / £90,000 (no mortgage)
Property 3 net annual rental Income - $9,200 / £6300
Property 4 value - $130,000 / £90,000 (no mortgage)
Property 4 net annual rental Income - $9,200 / £6300
Cash savings - $0 / £0
Pension account - $24,000 / £16,000
No car.
No credit card debt.
Current monthly household expenses - $580 / £400
Current Income - $65,000 / £45,000
Partners Income - $30,000 / £20,000
Home Value (2 bed flat) - $875,000 / £600,000 (no mortgage)
Rental Income if whole property let - $35,000 / £24,000
Rental Income if spare room only let - $17,500 / £12,000 (£7500 tax free in UK)
Investments -
Property 1 value - $220,000 / £150,000 (no mortgage)
Property 1 net annual rental Income - $6,000 / £4100
Property 2 value - $260,000 / £180,000 (no mortgage)
Property 2 net annual rental Income - $6,000 / £4100
Property 3 value - $130,000 / £90,000 (no mortgage)
Property 3 net annual rental Income - $9,200 / £6300
Property 4 value - $130,000 / £90,000 (no mortgage)
Property 4 net annual rental Income - $9,200 / £6300
Cash savings - $0 / £0
Pension account - $24,000 / £16,000
No car.
No credit card debt.
Current monthly household expenses - $580 / £400
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