Early Retirement Extreme Forums

I managed to track down a forgotten pension via this government website.
https://www.gov.uk/find-pension-contact-details

I worked for a company for 15 months around the year 1999 and I've got £25k squirreled away there
This is going to be transferred to one of my SIPPs...

Premature Monthly Overview.
Pensions
a) £40770 (same)
b) £73322
c) £7384
d) £70485
e) £24960 (found a pension)
Pensions total = £216921

Savings/stuff £8667

House £95000
Car £7800 (-100)

Total £328388 (82% of target)

Discovered money, huzzah! I had one of those moments back in the spring when I realized an account from when I briefly worked for the state didn't require vesting. It was only $4k but still a fun "discovery".

@cheepnis
I had estimated it would be about 2.5k - it's ten times that. So, rather pleased today

Almost Month End Monthly Overview.
Pensions
a) £40770 (same)
b) £76072
c) £8567
d) £74827
e) £24960 (found a pension)
Pensions total = £225196

Savings/stuff £7582

House £95000
Car £7800 (-100)

Total £335578 (83% of target)

How much is your WR Nomad?

@Wolf
If I assume I get no return from the house/car ownership and only from the remaining £232278 and that I spend £1250 a month.
The WR looks like being approx. 6.4%

Your WR is already quite low. Is health insurance included or excluded in your monthly spendings? In Germany health insurance is usually directly paid from gross income. It's the same in UK, I guess?

@Wolf
Yes, I may have a little holiday around Summer 2020 as a trial of ERE. Health insurance in the UK is just bundled into salary - mainly as an item called 'National Insurance'. People who are not working or retired are still covered.

The official end of 2019 - the dust has settled.

Pensions
a) £40770 (same)
b) £76238
c) £8509
d) £74507
e) £24960 (found a pension)
Pensions total = £225026

Savings/stuff £7700

House £97000 ( house value up 2K )
Car £7800 (-100)

Total £337526 (84% of target)

WW3 averted, markets recover.

Pensions
a) £40770 (same)
b) £76831 (+493)
c) £9220 (+711)
d) £75426 (+919)
e) £24960
Pensions total = £227207

Savings/stuff £7896

House £97000 ( house value up 2K )
Car £7700 (-100)

Total £339803 (+2319) (84% of target)

Hmmm, markets going crazy. This is a great thing.
I think I may be done with work by the end of this year - strangely on schedule.

Thinking about travel options then.

Markets heating up.

Pensions
a) £40770 (same)
b) £77834
c) £9754
d) £77211
e) £24960
Pensions total = £229896

Savings/stuff £7391

House £97000
Car £7700

Total £341987 (85% of target)


The journal is 600 days old. Started with £258k, now up to £342k

I'm slightly alarmed by how smoothly the investments are going at the moment. I think a possible date for trial FIRE could be June/July...

Ok, I'm pinning my target up. I'm aiming for net worth of £400k for July/August this year.
If I make that, I'm out.

Would/Could you draw down from pensions ?

Nice! Is that out at £400k regardless of when you hit it? (even before/after Jul/Aug?) What are your life plans next?

@Wolf
I can't get my money directly on pension money until 3 years from now or 30 months from my hoped-for retirement date. I do need to create a pool of money this side of that line to live on until then.
I have about 21k but this doesn't show on my financial summary as savings/stuff because it is presently 21000 - 14750 = 6250. Summarised as £7391 above.

@fingeek
It is regardless of when I hit it - I'm just hoping with focus and favourable winds I can get there this Summer. Much of it depends on the markets. Next on the list is have a big break, do some travelling around the med, maybe far-East Asia ( is very cheap ). Do some music recording etc...

Great, good luck, it doesn't seem too far away either way!

I get the "big break" thing for sure, but of course the question is: Why haven't you done those things already?