Hiccup to my FI plan

Yes, my job has seemed a bit shaky for a while but today, it could now be at the point where I have only 3 months of work left.

I am under consultation with a whole load of others, unsettling and trying to keep on the bright side and keep saving. Even if I remain, the job offer could be much less than I get now so will make a serious dent in my ability to save. I know I could live off less as I am doing so to get a 51% savings rate.

Just as I had managed to crack the 51% of my income into savings, I now find that in 3 months time I may have no income to save.

Life just likes to put hurdles in your way and prevent you from earning your freedom from the work world. The Government do not help as they don’t let you invest in pension schemes while you are unemployed (no-income, no-pension contributions). Plus I will have a big tax bill to pay for last year to pay later this year. Likely to be at a point when I an unemployed!

My shares and BTL dont earn enough to cover my expenses at the moment so not in the position to be FI but have general savings which means I would have to deplete my capital to survive until I can find/generate some income from other sources.

Better get planning and getting into the frugal style now so that I am ‘in the zone’.



2 thoughts on “Hiccup to my FI plan

  1. Sorry to hear about your situation – been there twice myself (after the 2008 crash, our company got rid of over 100 people during a horrid 3 month period) so I know what you’re going through.

    You can invest in a pension while unemployed, but will be limited to a maximum of £2,880 per year, with the government topping up your contribution to make it £3,600.

    There are lots of blogs/websites out there with lots of advice and ideas about being frugal – budgeting will help too.

    All the best with the job situation.

    • Thanks weenie – really not good but at least I am being realistic and looking at what I can do to be frugal and then work out what kind of work/life balance I really want. I may not reach full FI but I can at least be a partial FI convert.

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