Hi there! I’m a married professional living in North Wales, UK. I’ve been lucky enough to have spent most of my life working at doing things that really interest me, and still do, mostly. I’ve never really had a career plan – i’m sure I’m not alone there. I’ve simply taken opportunities as they came along and enjoyed the ride.
However, as a member of Generation X I’ve been thinking about how I want to spend the rest of my life – and do I really want to work full time for the next 20 years? While I enjoy working and don’t want to necessarily retire early I do want to have greater freedom in how I spend my time – for me this is about having choices.
So when I discovered the ‘FIRE’ (Financial Independence Retire Early) movement towards the end of last year my interest was piqued. Now as with many things I’m a bit late to the party. So no retiring at 35 for me as that milestone is well past!
Okay first admission – I’ve never really been motivated by money. This is a good thing I believe, but I guess I wish I had realised a bit sooner that regular saving and investing can give you greater life choices. Sounds obvious but I didn’t see how it would make a big difference. Like many people I was following the work for 40 years path and then retire with whatever pension you may have managed to accrue. No longer!
I guess I’m lucky as while I’m new to the FI community and its principles I’ve been doing some of the things they advocate for a number of years already. So for example I don’t have any debt apart from my mortgage and have been paying into my works pension schemes since I started work after University. Oh and no student loans!
So this blog is going to be my journal in tracking what works and perhaps doesn’t work for me on a journey to greater financial independence.
- Build up an emergency fund to give some financial security
- Start saving and investing for the longer term (10-15 years)
- Pay off the mortgage in the same period (10-12 years)
- Develop new skills and other career opportunities so I can work flexibly – possible start my own business?
- Spend more time with family and friends, travel, enjoy the moment!
Priorities for me are:
- Stop procrastinating and start taking action (all areas!)
- Build emergency fund
- Start saving and investing
- Continue to develop new skills – this blog is one!
- Look at ‘side hustles’ for additional income
- Keep fit
- Take more time off
- Plan for the future – live for today!