I've voted yes to financial independence
- Personality type: INFJ (which makes a nice change)
Star sign: Aries
Current job: Let's say it involves governance for an IT company, being deliberately vague here. c. £54,000 a year between wife and I, not a fortune, but we feel very wealthy. Also fluctuating 'passive' income, which has averaged £500/mth this year
Education: an arts degree with next to no real world value, suffice to say I like books. I have worked hard at assembling some sort of 'career' and my ERE journey has started (in part) because I can't be bothered pretending that I have anything to offer the world of work
These are for wife and I.
- Home: £139,000 (mortgage valuation, probably a bit higher than this
Car: £2,000 (I have lowballed here, it's an old car, but with relatively few miles on the clock)
Tax privileged equities/bonds: £5,700.
Pensions: £15,300 + state-backed £2k/year pension from age 60/65 (I forget)
All equities and bonds are in low cost index tracking products, I've read far more convincing 'pro' arguments than Jacob's 'con' argument in his book. That said, I do believe that the 'herd mentality/nobody leading' argument will become an issue, but not until significantly over 50% of investment is going into index funds. The US is already there, the rest of the world not so much.
Credit cards: £6840.86 (all debt at 0%, cash held in savings with c. 3.5% net interest)
Student loans: c. £20,000 (we are currently paying 1.5% on these, thanks to the wonders of financial repression. We pay a fixed 9% of all earning over £21,000 or so in repayment)
Assuming a £50,000 value for the state-backed pension, our net worth is c. £89,135.80. Mhhh... roughly £500k short for FI at our current levels of spending.
This is just a taster, I suppose we have a fairly ordinary profile, more information to follow without typing out my life story all at once.