Category: The Journey

Investing in Property Overseas – a Horror Story

This post is a continuation from How to Fail Spectacularly and Still Retire Early…..

As a couple, by most people’s standards, we were well off. One and a half professional salaries produced a lot of disposable income. And though I funnelled much of my part time salary into our savings accounts, there was still some to spare.

The “must have” investment among my husband’s colleagues was property overseas. Our financial advisor directed us towards a company selling apartments in Cyprus.

I would like to lay the whole blame for what we did at my husband’s feet but the fact is, I was there too. With almost no research and a blind faith in following the herd, we signed our lives away to the tune of two off-plan apartments in a country we had never even visited. Continue reading “Investing in Property Overseas – a Horror Story”

How to Fail Spectacularly and Still Retire Early

I have made mistakes in life – we all have. Some minor, some frankly catastrophic. But I’m still here, living a great life having retired at age 46. There were times I thought I would be working even beyond standard retirement age (67) so to be in this position now is something to be celebrated and never ever taken for granted.

But things haven’t always been plain sailing and with hindsight, I’m not sure I would want them to have been. Although I didn’t see it at the time, many of the qualities I needed to possess to end up in this position, I gained as a result of my failures or because of life experiences I went through. Continue reading “How to Fail Spectacularly and Still Retire Early”

The Dream vs Reality – What it Really Felt Like to Walk Away from Work

In the first few months of early retirement I met a lot of new people. With time on my hands I no longer had an excuse to turn down those invitations to things I would previously have avoided. And knowing how easy it would be for me to slip (very happily) into social isolation, I made a determined effort to say yes. Continue reading “The Dream vs Reality – What it Really Felt Like to Walk Away from Work”

The Why of FI – Sometimes You Don’t Have A Reason

People talk a lot about the “why of FI” and the importance of having an over-arching purpose that is bigger than achieving financial independence itself. But it doesn’t have to be that way. It wasn’t like that for me. Continue reading “The Why of FI – Sometimes You Don’t Have A Reason”

Life, Death and Getting Drunk on FIRE

A few years ago, a small piece of card dropped through my letterbox. I still have it – I’m holding it right now. This is what it says, misspelling and grammar uncorrected: Continue reading “Life, Death and Getting Drunk on FIRE”

Trimming the Fat – Preparing a Leaner FIRE Plan

Well – here I find myself in my mid-forties contemplating a ridiculously early, albeit leaner retirement than planned. The route from fat to lean has been surprisingly easy to find. (If only this were true in other areas of life (sigh)….imagine becoming leaner rather than fatter with the passing of time…) 

Time will tell whether it is as easy to execute. Continue reading “Trimming the Fat – Preparing a Leaner FIRE Plan”

Preparing for the Return to Work (When I Really Don’t Want To)

It was only a matter of time. From a combination of lots of accrued holiday and some compassionate leave, I have been out of the office for three and a half weeks. The clock started ticking about a week ago; a little whisper of “this time next week….” getting louder and louder as the week progressed until now – Sunday – I can hardly hear myself think for the hammering of that blasted second hand, reverberating inside my skull. Continue reading “Preparing for the Return to Work (When I Really Don’t Want To)”

Saving While Spending – The View From the Cheap Seats

A bit of a mixed up post this week – one which saw us celebrate an anniversary of sorts, spend a lot of money on what’s important to us while trying to avoid the mindless spends, and also win 2:0 against British Airways. (Although they did get us there and back in one piece, on time and luggage intact – worth a point, maybe….?).

Continue reading “Saving While Spending – The View From the Cheap Seats”

The Selfishness of Seeking FIRE

We have an expression in our family – “It’s not all about you ___”.

We use it when one of us is being selfish and not thinking about the other two. Demanding something or complaining about something without considering the wider impact.

Something that bothers me sometimes about my pursuit of financial independence and my single-minded desire to retire sooner rather than later, is the effect it may have on my children. I worry that it’s “all about me” because, well – it is. Continue reading “The Selfishness of Seeking FIRE”

Taking a Time-Out from Saving Money

Three people – two of them teenagers – sharing a moderately sized hotel room for two weeks. It’s a challenge, but I’m pleased to report we are surviving admirably so far.

Just one day has been marred by the appearance of “the face”- that uniquely teenage expression of boredom and disdain that leaves even the most devoted parent wondering if you can simultaneously love your offspring whilst not liking them very much.

It’s at times like these that you become truly thankful for certain things that might normally be taken for granted. Headphones. Spotify “Chill Vibes” playlists. Balconies. Vodka (I’m on holiday after all). Continue reading “Taking a Time-Out from Saving Money”

Is Early Retirement Risky?

I have never considered myself to be a risk taker. In fact I would go so far as to say the opposite. I am naturally conservative; a trait magnified by my professional finance training.

On the whole, my life has followed a fairly standard path. I did as I was told – finished school – went to university – found a career with prospects – knuckled down – worked hard – put in the hours – climbed the ladder.

My instinct has always been to save rather than spend, avoid debt, build up a financial buffer.

So I’m confused when I hear people comment that the FIRE lifestyle is risky.  Continue reading “Is Early Retirement Risky?”

Aspiring to be Rich – What Does that Mean?

 

Before I discovered the concept of financial independence and before I realised early retirement was achievable for someone like me, I was still interested in educating myself about all things money and gaining wealth. I knew that the way to a rich life was out there somewhere and I wanted to find it.

I think I am just one of those curious people. I didn’t want to be working into my sixties, that’s for sure but other than that it’s hard to describe what I was looking for. What did I mean by the concept of a rich life? Continue reading “Aspiring to be Rich – What Does that Mean?”

The “Just in Case I Quit” List

I realise I have been quite negative over the last few weeks. It hasn’t been the easiest time and I have found myself struggling to cope with the ever present work related pressure and stress. So much so that I am on the verge of quitting at any time – one more unreasonable demand could be the straw that breaks this camel’s back.

But wallowing in misery for the next few months isn’t going to help. Buoyed by the messages of support and solidarity from recent comments, it’s time to get practical. Continue reading “The “Just in Case I Quit” List”

Who Have you Told About Your FIRE Plans?

Anybody else feel the same way that sometimes it feels really weird talking about either financial independence or early retirement (or both) out there in the real world? Continue reading “Who Have you Told About Your FIRE Plans?”

I’m Afraid I’m Going to Quit Before I’m Financially Independent

This is one of those weeks where I could so easily throw in the towel.

(I make no apologies – there is some ranting in this post. Sometimes I just need to get things off my chest).

I had a couple of black days on my tracker and that combined with the beautiful weather we are having means I am yearning to be free of this job millstone and get on with real living.  Continue reading “I’m Afraid I’m Going to Quit Before I’m Financially Independent”

How I Saved My FIRE Fund

I still have some way to go – but it’s fair to say I have saved a good chunk of money into my Financial Independence fund.

At the time of writing this I am 89% of the way there in terms of having enough saved to fund the second stage of my retirement (when I can draw down from my pensions) and I have 78% of the savings I need in place to fund the years until then.

If I succeed in retiring in just under 3 year’s time, I will be 49 years old. It’s not super early like some of the people I read about, but it is well ahead of standard retirement age. I have got to this point partly by having an above average salary in the last few years and partly from good habits or particular personality traits (with a few mistakes thrown into the mix).

These are the habits and traits that have helped me save my financial independence fund. Continue reading “How I Saved My FIRE Fund”

Half Year Financial Update

As a FIRE enthusiast, the end of the month is eagerly anticipated. Spreadsheets at the ready, I update my numbers, track my progress and work out how much closer I am to reaching that Financial Independence goal. Happy as a pig in s*** – is there any better way to spend a Saturday afternoon….?

June is even more special as I can look at my progress for the half year 🙂 (Maybe I need to get out more….?). Continue reading “Half Year Financial Update”

Invoking the F.U. Clause

It’s been a bad week.

Every quarter the VP of the business holds an off-site management meeting and the sixteen or so leaders from various parts of Europe meet for a few days. I attend in my capacity as Finance Business Partner and as an introvert, the whole thing is my idea of hell. Continue reading “Invoking the F.U. Clause”

Financial Resilience – Being Bullet Proof

I have been thinking about financial resilience this week.

I spend a lot of time considering ways to earn more money, or ways of saving money by reducing my spending, but is there a chance of losing what I already have?

We can take insurance against major catastrophes. And so, heaven forbid should my house burn down or I’m involved in a car accident, I would not need to be concerned about money and could focus on dealing with the fallout instead. But life is full of twists and turns and whoever really knows what is around the next corner? What about those things we don’t always insure against or don’t even think about – am I in good enough shape to withstand any shocks to my finances? Would my early retirement plans be derailed if something major were to happen? What could those shocks even be? Continue reading “Financial Resilience – Being Bullet Proof”

Tax and the 4% Rule 

How should we consider tax when using the 4% rule for early retirement calculations?

I have a plan.

A financial road map, leading me from where I am now to where I want to be. It ignores get rich quick schemes and the latest crypto craze and takes the shortest route I know that will get me there in one piece. Continue reading “Tax and the 4% Rule “

Single Parent Seeking FIRE

I spend many hours a week with my head in financial independence blogs. (Maybe that’s why I’m single 😉 ). What often jumps out at me is how the majority of writers are part of a couple. That observation is not unusual – any single person will tell you that wherever you go, the rest of the world seems to be in couples. But more of us are choosing the single life (or having it forced upon us) than ever before.

This post is about my journey – what it’s been like for me being single and working towards financial independence.

(Spoiler alert – it feels good 😊) Continue reading “Single Parent Seeking FIRE”

Rethinking the FI Budget – What Do We Really Need to Include?

It may have taken its time to arrive, but the weather is finally Spring-like in the UK. Every morning, I take the dog for a walk around the the nearby lake before most of the city is awake. When the weather is good, it’s my favourite time of day. No people around except for the occasional other dog walker or early morning runner. No traffic noise. The sky this morning was a beautiful pale blue; sunlight sparkled on the water and the sight of my dog galloping through the shallows chasing her ball was an advert for pure joy.

This. Just this.

If life was as simple as this, who would need an escape? Continue reading “Rethinking the FI Budget – What Do We Really Need to Include?”

Show Me The Money – A.K.A. My Financial Plan

Early retirement is a big deal. For most people it is not going to happen by accident and needs to be based on a solid financial plan.

I’ve talked about how I got to this point in my journey here. What about moving forwards? Where is the money going to come from to live? What will I draw down from and when? What other income streams will be coming in and what back-up plans do I have? Continue reading “Show Me The Money – A.K.A. My Financial Plan”

Be Your Own Insurance Company

The recent tax year-end prompted me to review all my spending. Somewhat arrogantly, I had thought I was in pretty good shape, but it seemed as good a time as any for a once-over just to be sure.

Time to step away from the head shot and visit the full length mirror, if you like. A few extra pounds around the middle can turn into a death sentence for your financial independence plans if left unattended. Best to blitz that fat early on before it becomes several layers deep. Continue reading “Be Your Own Insurance Company”

Financial Independence 101

If you are new to Financial Independence, this post is for you. If you are not new but you’ve ever found yourself in the situation where you try to explain what you’re doing to family and friends and get the blank stare or the shrugged shoulders or the dismissive comment – this post is also for you.

Sometimes I feel as if I am living a double life. I take care of my boys, manage my career, meet with friends and family and yet all the while, it feels like I’m working on this life-changing thing that none of them know much about. Something that has the potential to change my life so radically for the better I want to share it with them all so they can do it too.

Those of us that have had the light-bulb moment know how crucial the message is but it can be hard to convey. So I wanted somewhere to send them that has everything they need to get started. This is my attempt to provide that hub. Continue reading “Financial Independence 101”

Introvert on FIRE

Last night there was an argument in the Twitter personal finance community. I don’t suppose that is particularly unusual, but it’s the first time I’ve watched one play out. I wasn’t involved in this discussion, but I read from the side lines feeling increasingly uncomfortable as the tweets rolled in. Continue reading “Introvert on FIRE”

What (Not) to Hate About Your Job

Mother Nature is trying very hard to bring us Spring in the UK, so the clocks have changed, mornings are lighter and there is a general sense of relief in the air. We are thinking that the worst is over and are starting to look forward to life again with renewed energy and enthusiasm. We Brits are known for nothing if not our love of weather talk and the slightest glimpse of sunshine through the office window brings much excitement for everyone. Continue reading “What (Not) to Hate About Your Job”

You Have to Be In It to Win It

Financial Independence is rarely achieved by chance

…. for most of us it is preceded by the habits of saving and investing combined with the passing of time. Continue reading “You Have to Be In It to Win It”

The Quickest Route To Financial Independence

About this time two years ago it became apparent that my job would soon be redundant. This wasn’t the shock that maybe it would have been to many. Heading up the finance function of a small company that had recently been taken over by a corporate giant, I knew it was inevitable.

To cut a very long story short, come January 1st last year, I found myself in a new role within the aforementioned global corporation. Dodged a bullet, salary still coming in, big relief all round, no need for the poorhouse just yet. Continue reading “The Quickest Route To Financial Independence”

Why Getting Rich is Boring

The more I talk to people about money, the more I realise – those of us who seek out knowledge to improve our financial lives are in the minority. Bizarre as it seems, the majority of the population don’t actively try to learn about personal finance. (I know, right….?). So on the basis that the more content that is out there, the more likely it is that people will stumble across it, I’ll add to the pile with my take on the evergreen question – “How can I get to financial independence?”. Continue reading “Why Getting Rich is Boring”

Why Your Job May Be Better Than You Think

Despite living just over one mile from the gate, every day I drive Teenager Number 2 (TN2) to school. This is not as environmentally unfriendly as it sounds given that the school is on my way to work, which is several miles away. (Yes, I know I could cycle. No, I’m not going to). Parents of teenagers will know what I mean when I say the four minutes in the car where I pretty much talk to myself, occasionally joined by a “yeah” or a “nothin’ really” is about as close to quality time as I get. Another reason I’m not giving it up – you take what you can get in the teenage years. Continue reading “Why Your Job May Be Better Than You Think”

The Illusion of Wealth (Part 2)

Remember Sarah and Paul? Their curiosity got the better of them and one evening at the beach bar the subject of early retirement and the question of “how?” was raised. Continue reading “The Illusion of Wealth (Part 2)”

Working My Way to Freedom – My Story

Let me just put it out there. At time of writing, it is December. Teenagers 1 & 2 and I have left winter behind for a couple of weeks and are soaking up the sun some place far away from the UK. This may not be typical of something you would read on a blog promoting early retirement. But this is a marathon not a sprint and surviving the corporate grind for the next few years depends on time away to recuperate. Continue reading “Working My Way to Freedom – My Story”