Greetings!
I thought I would introduce myself before starting to comment.
I'm in my mid thirties, married with two children and am a somewhat reluctant software developer working primarily in the banking sector in London on a contract basis. I've had muted ERE-ish leanings for some time in favour of the usual English obsession with property, work and the general busyness of life.
I have been wondering for some about taking a different approach and having spent the last 18 months successfully saving a quite high proportion of my income in order to finance some home renovations I am now interested in working out a strategy to financial freedom.
Challenge 1 is that contract work is (while highly remunerative) also highly contingent on the state of the market. I am expecting a period of downtime when my current engagement ends in a month or so but if nothing else it will give me the opportunity to work on budgeting.
Challenge 2 is likely to be the UK tax system (not to mention the UK economy). More on that in a separate post I think.
Jim.
Hullo from the UK
Hey Jim.
The pros of the English system is that you pay taxes but in return get free health care (as I understand it from the Netherlands). Also, there is a safety net called social security in place. Hopefully you don't need either of these things, but it's great to have them.
I have absolutely no idea whether you can save up some money tax-free for retirement? Since you work on contract basis, I think you need to provide for your own retirement, but there probably are ways to do that?
Well, anyway, good luck!
The pros of the English system is that you pay taxes but in return get free health care (as I understand it from the Netherlands). Also, there is a safety net called social security in place. Hopefully you don't need either of these things, but it's great to have them.
I have absolutely no idea whether you can save up some money tax-free for retirement? Since you work on contract basis, I think you need to provide for your own retirement, but there probably are ways to do that?
Well, anyway, good luck!
