Hello,
I wanted to do a check with this great community on the possibility of RE. I believe I'm already FI. Reason for ask is that I'm a bit heavy with real estate and relatively not heavy on ISAs or SIPP. I'm also very weak on cash but I suppose I can always sell bonds. All is relative of course.
Numbers below, keeping it simple and rounded:
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Total NW inc house: £5.1M
Real estate: £2.2M, incl house where I live which is valued at 0.9M. All paid off. 3 rentals as part of this, modest in size providing £4.5k/month before tax.
ISAs: £0.3M
SIPP/pension: £0.6M
Other pre-tax investments: £2M in 60:40 portfolio, mostly index trackers.
Cash: very low, about 50k, mostly because of desire to pay off houses, misplaced as it might have been
Yearly expenses: £80k/year or £6.9k/month
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Currently in a good job making £170k/year, spouse volunteers in a charity but does not earn, 2 kids who need another 6-7 years until uni. A big chunk of the above NW made in a previous startup. Can continue to carry on but getting more and more worn out every day. Hard to take a sabbatical of more than 1 month. Have worked in low pay jobs in the past not to be naive enough to think that moving to low paying job will bring more relief. Perhaps have seen too much and am too cynical.
Any particular thing stands out or any advice on whether I can retire at 45, at least from a financial pov? I'm aware I'll need to find ways to fill the time.
Many thanks!
I wanted to do a check with this great community on the possibility of RE. I believe I'm already FI. Reason for ask is that I'm a bit heavy with real estate and relatively not heavy on ISAs or SIPP. I'm also very weak on cash but I suppose I can always sell bonds. All is relative of course.
Numbers below, keeping it simple and rounded:
-----
Total NW inc house: £5.1M
Real estate: £2.2M, incl house where I live which is valued at 0.9M. All paid off. 3 rentals as part of this, modest in size providing £4.5k/month before tax.
ISAs: £0.3M
SIPP/pension: £0.6M
Other pre-tax investments: £2M in 60:40 portfolio, mostly index trackers.
Cash: very low, about 50k, mostly because of desire to pay off houses, misplaced as it might have been
Yearly expenses: £80k/year or £6.9k/month
-----
Currently in a good job making £170k/year, spouse volunteers in a charity but does not earn, 2 kids who need another 6-7 years until uni. A big chunk of the above NW made in a previous startup. Can continue to carry on but getting more and more worn out every day. Hard to take a sabbatical of more than 1 month. Have worked in low pay jobs in the past not to be naive enough to think that moving to low paying job will bring more relief. Perhaps have seen too much and am too cynical.
Any particular thing stands out or any advice on whether I can retire at 45, at least from a financial pov? I'm aware I'll need to find ways to fill the time.
Many thanks!
Statistics: Posted by rocodipoco — Sat Sep 28, 2024 2:22 pm — Replies 0 — Views 92