Our Next Life

I was listening to Mad Fientist and the podcast with OurNextLife, it was great to hear their journey. Ok, its yet another US example, with the flexibility and opportunities that I am not sure really exist over here in the UK(?).

I read their post on their FI plan. It is interesting, when I was with my ex partner we had a plan that was shared, with shared dreams and adventures,  as we saved and paid off the mortgage and started to make some headway, his views changed. Our paths diverged, the plan became just my plan.

I now follow the plan on my own, I have a residential property that is mortgage free and a rental property that earns a little side income. I save regularly into an ISA and pensions, with the odd share purchase on the side. I used to save any bonus or windfalls that came my way rather than blow it on consumer trinkets until job insecurities resulted in job loses; I now have a job that pays nothing but a basic wage. My savings have helped me during those bad work situations and I am glad of that cushion, my emergency fund, I am lucky to be where I am.

It would be good to meet someone with the same goals, dreams and adventure ambitions but I think that is unlikely, so I crack on with my own journey following the plan. As I grow older my dreams of snowboarding the deeply snow covered hills fade away due to health issues, both my knees are pretty much shot now. Hopefully I can continue to cycle, hike and camp for a few more years.

I need to find my final goal, so looking at other options to fill my day once FI is achieved. I don’t want to end up working and retiring at NRA with bad health and look back at all the things I never achieved because I was too scared to jump or feared financial failure.

Living for work and only seeing work as my achievement and status in life is wrong. I think its the time of year, SAD strikes and I need to get some good doses of daylight and feel happier. Getting out in the garden and walking, cycling and feeling active is the goal.

I use to spend so much of my time as a child outside and I miss that freedom. The achievement of making and doing things ticks the boxes for me and I need to find outlets for this that could possibly provide a side hustle too. When I was a child, my view was to get a job earn lots of money so I could give it up and do my art and craft activities and not have to worry about the money. I could go horse riding, cycling, paint and draw and feel free.

Year-End Review

Its nearly the end of the tax year and I am reviewing what to do for the best with my finances, I should use up all the allowances available to me and move my FI fund around to get the best deals and make the money work for me. Compared to last year my FI fund is down due to drops in the share market. I have money sitting in savings accounts being eroded by inflation so moving them across into ISAs and pensions where – ok I cannot get at the money until I am 55  – it will have the potential to earn a better return that a savings account.

My consolidated SIPP account is already starting to grow. My first pension transfer is now invested and rising in price. The second pension transfer completed this week so I can now schedule that to be invested in some Vanguard funds to hopefully over the long-term give me a better return. I am looking to adjust my pension saving to be 20% of my salary. Again it is the mantra of setting up the DDs so that the money goes before you have a chance to spend it. I also save into my employer scheme and they pay 5% into it too so that is also helping to grow my pension funds. At the moment the biggest winner for me this year has been my pension funds which have increased as a % ratio of my FI fund.

My saver mentality is winning the day so just need to crack on with activities to block out the negative thoughts rumbling in my head. Onward and upward…..

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2 thoughts on “Our Next Life

  1. Sounds like you are lining everything up nicely. Some days are a lot tougher than others when it comes to knowing that our employers totally own our time. Like you say, it’s returning to that saver mentality to keep us on track.

    I’m a bit envious of your ISA/pension access age – we aren’t able to access our Superannuation until 60, and I’m always concerned they will raise it before I get there!

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