Hi all,
I've been reading the forum for a couple of months and I'm starting to get my head around the concepts. I'm 48 and have always been keen on living well within my means. However, my investing ability is pretty poor and I've always kept far too much in cash. Now I'm realising that if I want to get DH and I retired pronto, we need to up our game.
Our current position in brief:
Cash: £156,000
Retirement Accounts: £425,000 (can't touch for 7+ years)
House value (mortgage-free): £580,000
Between us we earn £6,500 after tax monthly.
My DH and I both work full-time, but neither of us are in love with what we do. We don't, as yet, have a good picture of how little we could really live on. So today we're starting to log all expenditures and I'll be posting over in the journals once I'm up and running with that. I'd estimate we save about 50% of our take home. But that could be way off. Our only splurges are on vacations, max £3000 year.
I'm thinking about a one-year period to plan an exit strategy.
Looking forward to sharing the journey.
Hello from UK
Re: Hello from UK
Welcome! It looks like you have a great income to work with. There are places in the US where you could retire on what you have already. Not sure about the UK. Do you plan to stay put? Also, what are your long term goals?