What’s better than FIRE-ing once? FIRE-ing twice, baby!1
This time last year I was effectively working full-time again, after opt-in house renovation costs evaporated The Accumulators’ coffers like a reservoir in a heatwave.
The best remedy I could think of was to put my FIRE dream on hold, replenish our reserves, and then resign my post once again.
And happily, that’s just what happened.
I re-entered the FIRE fold in February. My happiness levels ticked up as follows:
Okay, that’s a slight exaggeration.
But I am happier. Mrs Accumulator, too, as I understand it. (Hopefully you’ll get an independent update directly from The Organ-Grinder soon.)
Work-strife balance
My FIRE hiatus was purely about the money. It wasn’t about buyer’s remorse or trying to fill a void.
There was no post-career void to fill. I don’t miss my old life. I don’t need it, I don’t want it.
That isn’t to say ‘work’ doesn’t have a role to play in my version of a fulfilling life. I’m completely happy to accept Visa, Mastercard, or cash for doing a few things I’m not terrible at.
Sometimes I even enjoy these tasks, provided they don’t:
- Consume my every waking hour
- Involve a deluge of ‘comms’
- Require me to invent a nonsense reason about why I want this role. (It’s for the money, obviously)
- Attend ‘ra-ra’ team days that constantly invoke a set of ‘values’ that should, let’s face it, be a given
On the other hand, challenging work – that’s easy on the BS, and fits into a sane fraction of the week – is absolutely fine by me.
There’s not much to beat the feeling of goofing-off with Mrs Accumulator after a day of slaving over a hot laptop to produce an Earth-shattering Monevator post!
I’ve got to have light and shade in my life. I can’t operate without a base level of eustress.
Think of me as a dog who loves his walkies or chasing a ball in the park. It’s that basic.
The reality gap
A lot of FIRE blogs are (or were) filled with fabulous post-work feats.
You know the kind of thing:
- Here we are on our world tour, drinking mezcal margaritas served by a shaman
- Here we are again! Now we’re hand-rearing an abandoned baby dolphin that we rescued from a secret US military program
It makes sense. We all need inspiration – including the readers of FIRE blogs. Sometimes only the sight of an enormous, juicy, prize-winning carrot can spur you on when you’re doing the hard yards.
A middle-aged couple eating jammy scones in the garden on a Wednesday afternoon probably won’t cut it. It can’t be many people’s idea of living the dream.
But it is mine.
Many happy non-financial returns
The problem when you arrive at the destination is your new life can’t be all shamans, dolphins, and carrots.
For the joy to stick, life cannot be about making every day extraordinary.
It’s got to be about finding the extraordinary in the everyday.
So when I lean back and think about the past year’s ordinary days that were just lovely, I remember…
…the day we had a power cut. I had no excuse but to take off into the countryside on my bike. Eventually I found myself on a bench, with a beautiful valley for company, eating a pasty. What a day.
…being able to say “yes” when my brother suggested a road trip to see my Dad in Scotland. It was the longest time we’ve spent together since we were kids. It was a great trip, notable for Pro Max tomfoolery, catching up with the oldsters, climbing hills, and ribbing each other without mercy.
…meeting old friends for a Full English – but only after I’d earned it. That meant a wonderful morning pedalling the arteries of Britain’s industrial past. Threading together reclaimed railway lines and canals. Up and over an imperious aqueduct, mighty like a power-pose in stone. Passing by paddleboarding youngsters following their leader. Sooty tunnels. All a gorgeous backdrop for a human pinball game of families, couples, dog-walkers, and joggers.
…being able to say “yes” whenever Mrs Accumulator says, “Let’s go for a walk.” (She always warns me she can’t think what we’re going to talk about. And then we yak our heads off the whole way around.)
…a brilliant autumn day yomping with The Investor. More top-tier yakkery about anything and everything. All the better for being grounded by the kind of mickey-taking and BS-calling you only get from someone who knows you very well.
Perhaps the link between my memories is connection. Whether with myself, the world, people I love, or total randoms that I’ll never see again but who still made the effort to make a fleeting moment go well.
The other link is time.
It’s not that these things couldn’t happen when I was working or, more accurately, ‘careering’.
But they did happen much less frequently, and with persistent interruptions (“Sorry, I just gotta take this call”) or under an anvil cloud of looming stress.
Spend now, maybe pay later
We lost another close family member this past year. They were 85 and decided to discontinue the drugs that were holding down their cancer.
For Mrs Accumulator and I that’s an entire branch of the family swept away in two years.
One moment they were roving around Europe, loving their retirement, loving each other… Next, they’re gone.
I can’t help but pay attention to what that’s telling me.
I’m a planner at heart. It makes sense to me to think about what happens if we make it to our nineties and beyond.
However, I’m actively muzzling that impulse now in favour of spending more to have a better time while we can.
I’m not talking about asset-allocating 30% of our portfolio to a supercar.
But l think it’s okay to loosen up on stuff that makes a real difference to our quality of life here and now.
Granted, it puts upward pressure on our long-term failure rate. I’ll manage that as we go.
But we’re eating out more than we have for years. Binning off the socks that are more hole than sock. Buying the occasional piece of furniture that makes us smile every time we see it.
This is harder for Mrs Accumulator. She’s a born worrier and austerity merchant.
I don’t have those genes. I had to learn how to become a hardcore saver.
The purpose of that phase was to become financially independent. Now we’re here, what’s the point of not enjoying it?
Purposefully passive
I’m paying relatively little attention to our portfolio.
Drafting in some volatility dampeners like gold and broad commodities has improved my confidence in our strategic balance. (I love the way those assets knocked the bottoms off some of history’s greatest drawdowns.)
Inflation is covered now I’ve got to grips with index-linked gilts.
If anything goes hideously wrong I’m sure the news will find me pretty quick.
My media feed is full of threats, of course. AI, populism, deglobalisation, the Climate Crisis, Putin, Britain sinking beneath a tide of debt, despair, and decline… You name it.
But it’s all outside my circle of control.
I care about it. I pay attention. I could talk to you for hours about it – but I’m not going to let it menace my every day.
The next 12 months
I’m probably going to need another long-term project or two to keep me feeling like I’m part of the real world.
At the moment, I’m regaining the fitness I lost when Covid and then FIRE stopped me cycling to work five days a week. I’ve struggled to find a non-negotiable exercise slot ever since.
That’s the problem with being your own boss. I’m too soft on my employees!
Beyond that, I would like to do something with a community focus. It needs to be IRL. Ideally it will require me to collaborate with lots of new people and not have much to do with a laptop.
I’ll report back on progress – if any – next year.
Take it steady,
The Accumulator
P.S. Our FIRE budget for 2024-25 was £28,400 for two. Actual spend minus one-off renovation costs: £28,750. Bad TA!
- FIRE is shorthand for Financial Independence Retire Early. In other words quitting work and living off your investments – or at least having the option to. [↩]
It’s the 4th anniversary. You don’t need to say 4th “year”. It’s already covered by use of the word “anniversary”. I’m sure I made the same comment last year.
This usage appears to me to be increasingly commonplace and it really annoys me. Grr.
Oh, and congrats!
What a great post! Totally agree its about finding the extraordinary in the every day, even when its small things that make it happen.
Love the refreshing honesty! And happy 4th anniversary! I’m glad you replenished the copper after a tough Remodel. I just spent over $40,000 rehabbing and in law unit at my parents house in Honolulu and it hurt mentally. It was way over budget. So sad! Makes me want to hustle and get that money back.
Enjoy your freedom again!
Best,
Sam
> It’s got to be about finding the extraordinary in the everyday.
Bravo and congratulations on getting your freedom back, and a lovely narrative of the spontaneity that owning your own time gives you.
Realising that tie was what finally did it for me working even at a very low level – I grew to slightly resent the tie and I didn’t want to be unreliable and stitch decent people up by being a primadonna about when. And it paled into the noise compared to changes in networth anyway.
Here’s to onwards and upwards for your fifth anniversary!
“What’s better than FIRE-ing once? FIRE-ing twice”. That’s almost (but not quite) the original joke. However, I’ll leave it there – if you know, you know!
I had always assumed that The Accumulator was actually your slightly naughty alterego, but this is the first time I’ve noticed you indicate that they are an actual distinct person. Also, despite being a regular reader, it failed to register you had gone back to work, so congratulations on your second “retirement”. Here’s hoping that your changed circumstances means you can now post more regularly!?
Jammy scones in the garden on a Wednesday afternoon? Living the dream?? 100%! Give you joy and envy; the countdown clock on my kitchen wall says eight months, two days, 6 hours and 35 minutes. In itself another of the simple pleasures.
Congratulations on your second escape. I can relate to so many things in your text, particularly the ability to have a walk with my significant other everyday , making plans for our trips and making so many dreams of travel reality. Also, sleeping better than ever before, going to the beach or the mountains when I want and just doing nothing without regret or worry.
Three ideas for you which are community focused IRL that I found useful when I retired early.
I found a local environmental charity where I volunteer to maintain the local county footpaths. It saves the council money (and therefore my rates), helps the charity, keeps me fit with physical exercise, and I socialise with a large bunch of fellow volunteers.
Find your local u3a and join some groups, maybe even setup and run some. I run a personal finance group “money matters” (partly thanks to Monevator), a Veg Patch group, Digital Technology Discussion group, a wine tasting group. Plus I’m in a film group and am learning guitar.
Lastly, I’m a citizen scientist for my local river. I’ve learnt so many new things and I get in the river each month to measure or restore something.
All of these are very social, community focused, and a far cry from my days as a desk jockey in IT.
Just some ideas for you to look for locally.
This touched quite a few chords, thank you. You are your everyday as they say.
The reFire-ing also put me in mind of Gary Neville’s famous ‘mini-retirements’ for the ‘relentless’. He defined these as where you travel to a different country for a few days, sit by a pool, and don’t do any work. They also sound they could be fun now and then!
Well done on the Re-Fire, having done a four month World Cruise, predictable but pleasant nether the less, even booked another, one but found myself working part time a few months after my return, cancelled the repeat cruise having decided that being a bit busier is better and being around to help a family member through a difficult time.
It’s the unpredictability thats fun, we now find ourselves buying a much larger, Multi generational home, thats taken 35% of the ‘pot’ and fingers crossed we can unload two family homes in a difficult market…
I am pursuing a hobby/micro business, helped by having a much larger garage, (there can be more than one motive, than the more altruistic one !)
Perhaps being too comfortable, being able to do what you want, where you want, within bounds, is not the recipe for happiness ? A bit of a struggle, a challenge ?
Perhaps TA will re-re-fire in the future ?
@ 2 more years
I’m so obsessed with retirement that a work colleague suggested I mark the days on my office wall, like a prisoner would in their cell (!). Alas I have a lot longer than 8 months to go and would end up completely redecorating the room that way.
Great post TA.
And I’m finally done. Pulled the trigger and resigned effective 30 September. All autho… agreed with my wonderful wife. After all, you and Ermine guaranteed it would be OK, didn’t you?
EU Stress is positive stress? Try telling Boris, May, Gauke, Starmer, etc.
The reference to The Investor made me start too. But I’m not buying it.
@vroom #9, I loved your comment !
I relished the gentleness of life most in my first year. Beautiful food, good sleep, funny happenings with friends and deep dives into narrative arcs within various book series.
Life still delivered rapids, but my ability to negotiate these was immeasurably improved by ‘time, money and calm’ – a purchased layer of confidence and privilege, if you will.
I think “everyday life” matters most. We all choose differently. But FIRE is the vehicle for that optionality.
Thank @TA! I really enjoyed your update. Hope the jammy times continue!!
@Brod #12 Congratulations, and you’ll be fine. One thing I would recommend folk that do a sudden stop retirement is don’t change anything else major in the first 6 months, like moving house. Your retired self is different to your working self. There may be shifts in what you value, and it takes time for that to sink in. Have a blast – 1 October 2025 is the first day of the rest of your life, lived by your rules, not Theirs 😉
@Alex funny that, I rather identify with what you say. The journey can become compulsive.
@ermine, that sounds like very good advice. I anticipate the switch to decumulation may take some head realignment. My path to fire has been very back end loaded, with the last three years particularly involving very aggressive saving. Suspect this might have tipped me into becoming a somewhat institutionalised accumulator!
@2 more years, or should that be eight months, two days, 6 hours and 35 minutes more 😉
> with the last three years particularly involving very aggressive saving
I feel for you, I also took three years roughly from a standing start so similarly back-end loaded. At least you’re in the home straight.
It does take time to decompress, and it also takes time to shift mindset from accumulation to decumulation, and that is even harder from people who hit it very hard in the runout. Savour and value the time when it comes. I like the philosophical wisdom TA offered with
> It’s got to be about finding the extraordinary in the everyday.
“extraordinary in the everyday”…love it!
@TA
Congrats on the 4th anniversary. Having been retired nearly 6 years, I agree with much of what you have written, we too enjoy a quiet life (scones are always good!). We have yet to implement all of our retirement plans since retirement started 6 months before covid and I then had long covid for about 2 years (but then it also took me about 2 years to mentally recover from work) and there have been other reasons for delay since.
Your budget is a few £k higher than ours, but it might help frame the ‘how much state pension is required’ discussion in other recent posts. A couple (with their own house) can definitely live quite well on 2*SP, whereas a single person on 1*SP is somewhat tighter even if they own their house.
@TA:
Nice post.
Congratulations on your re-firing.
Seems I was wrong last year and when it came to it you had no difficulty in walking away, see: https://monevator.com/fire-third-year-anniversary/#comment-1795849
Onwards and upwards and I hope you both can keep finding those simple pleasures in simple things for many years to come.
P.S. should your clock/anniversary not be reset to your Fire#2 date?
@HS (#10):
Re: It’s the unpredictability thats fun, we now find ourselves buying a much larger, Multi generational home, thats taken 35% of the ‘pot’ and fingers crossed we can unload two family homes in a difficult market…
IMO very brave but possibly super smart too? We just spent a bit over a week with my [aging but still physically about OK and super switched on] Mum and it was definitely time to come home!
Also, IIRC*, you had quite a few adventures with your former home – so I would imagine giving that up might be hard?
*possibly from your fire-side chat a while back
@TA congratulations on reretiring, I’ve been out of employment for 2 years now and I have zero inclination to ever do that again…
Many congrats on FIRE 2: This time it’s even more personal finance.
Think I’m getting closer to it myself. Could have done it comfortably five years ago, but started mostly enjoying the work and reduced my hours. Past week has shown the work has the potential to become a job again. Missus desperate to retire in a couple of years so maybe that will be the decider.
@Scott – Thanks! I look forward to keeping this up for many years. Mrs TA and TI have spent decades trying to correct my many grammatical blindspots. It’s a thankless task! 🙂
@Plop Plop – Haha. Yes, 100% not The Investor. It would be hilarious to me if TI spent time creating another alter-ego. Possibly one who existed just to take the piss out of the first. Still, he’d come up with one much more colourful and bad-ass than me.
@2 more years – You’re gonna have to change your name! Very close now. I’m excited for you.
@Roberto – The ability to sleep properly is amazing! I should have written something about that by now. And the lack of chronic, low-level work-related stress is immense. Ending that is like realising you’ve been driving with the handbrake on.
@Anthony – thank you for those ideas. I was hoping someone would throw some into the pot. It sounds like you’ve thrown yourself into your new life?
@Hariseldon – I worry that apathy and a rising sense of worthlessness could creep in if I don’t challenge myself somehow. And if I’m not contributing to anything.
Your comments have brought to mind someone I know. I believe they have retreated into a cosseted world of creature comforts and it saddens me when I recall their former self. I can’t tell if they’re happy or not but their interest in the rest of the world seems to have fallen off a cliff. It may be what they want but, from my perspective, it helps to show me what I do not want.
Weirdly, Mrs TA and I feel much less need to travel than we did. I suppose because those trips were as much about escape as anything else. Escape isn’t high on the agenda anymore.
@Brod – Congratulations! And I’m sure it will be OK. It’s just that you’ll definitely need an adjustment period and real life still intrudes.
+1 @ermine’s wise observation: “One thing I would recommend folk that do a sudden stop retirement is don’t change anything else major in the first 6 months, like moving house. Your retired self is different to your working self. There may be shifts in what you value, and it takes time for that to sink in.”
Also, how about booking yourself in for a FIRE-side chat with TI?
@Andi – 🙂
@Alan S – Cheers! The thing about retirement plans is there isn’t enough time in retirement to implement all the plans.
It sounds like you’ve had a lot to deal with early in your retirement. I wonder how that has changed your views on this phase of life?
I agree that the current State Pension would cover most of our commitments, especially if we battened the hatches down again. The annual figure is also higher than the minimum quoted for a couple living outside of London by the Retirement Living Standards report.
Still, I think I’d be anxious if that’s all I had to live on. Especially if there was nothing set aside for emergencies e.g. the proverbial roof fund.
@Al Cam – I think that I’d like to spend more time trying new ways to contribute and express myself in the mode of @Anthony. I envisaged spending more time doing this originally. It needn’t be paid either but it does need to be fulfilling on some level.
Good point about the clock. I didn’t reset it because I didn’t really feel like I was taking a sabbatical from FIRE.
The pace, pressure and responsibility felt non-existent in comparison to my old job, so I see it more as something that intruded on my FIRE time but didn’t force me to give up the real gains.
@Larsen – Amen.
@G – “FIRE 2: This time it’s even more personal finance.” Love it!
Short hours and enjoyable work is a winning combination.
It sounds like you have the option to walk away if you need to, which is a great position to be in. Having that power can make the workplace much more bearable, I think.
Great post. Finding the extraordinary in the everyday is the mantra by which I have lived since FIRE’ing back in April this year.
Best part of retirement for me…the absence of ‘Sunday afternoon dread’ of work the forthcoming Monday morning.
It’s my 5th FIRE anniversary next week. I only had one rule when I left and that is ‘never, ever, ever watch daytime TV’. I’ve stuck to that and after 6 months of finding myself (as per Ermine’s comment) I moved my backside into gear and am now kept sane and busy by an upcycle charity, a couple of repair cafes and a couple of days a month at the woodland trust (and a tiny bit of paid work). The main difference between then and now is that I choose to do it rather than having to do it. And I agree about those special serendipitous moments. Having a bike ride, eating a pasty on a bench with a wonderful view. Life doesn’t get any better 😉
PS. My wife bought me this t-shirt a couple of years ago which I wear with pride (hope the link is allowed)
https://imgur.com/a/Pc8gisW
@TA
> might have to change name
Indeed, although been 2my for a good long while now. Figured 3my is a plan, 1my is an excuse. There’s always something 2my – even if it’s the 1st anniversary of RE
Congrats TA! It is interesting to see that most people commenting, who have managed to escape and are appreciating their newfound freedom, don’t seem to have kids. While it’s certainly hard to achieve FIRE with young kids, it’s also harder to enjoy it once you get there. Even without work, I wouldn’t say the days will be that relaxing or peaceful. Even though we can afford to “retire”, my partner and I feel it is important to set a good example for our kids by being seen to have a good job and working hard. So, for now, while someone still wants to employ me and give me a decent salary, it makes sense to keep going, using the skills developed on the journey to build the pot still further. With the coming disruption from AI, I believe the the best protection is to be a holder of well-diversified capital and the more the better. Who knows how many generations it will need to sustain?
Great article! Love you’re calling out how important it is to find the joy in the everyday. Good advice for us all even in a snatched lunch break as we toil away!
In awe at your FI figure for 2 and thanks for sharing. (In awe in the sense you run a very tight ship, well done!)
@firefry – was thinking much the same. There is a pattern of no kids here. As for ‘ being seen to have a good job and working hard’ well there is a whole article on that one idea alone. So much to unpack. Arguably a form of deception and dishonesty, but then again terrifying to think your example may breed a workshy, lazy layabout. It’s a discussion that could run and run. But obviously not here, as noone has kids 😉
@TA (#25)
“It sounds like you’ve had a lot to deal with early in your retirement. I wonder how that has changed your views on this phase of life?”
Good question – the answer to which is “I’m not sure”. I think the key lesson is that however well planned, there is always something that will derail things – but having been involved with project management at various scales, I already knew this (although a global pandemic wasn’t on my notional risk register!). To be fair, most of what we wanted to do has been delayed rather than cancelled with some things (a move from city to coast) now, in the absence of further obstacles, fairly imminent.
RE SP/Retirement Living Standards “Still, I think I’d be anxious if that’s all I had to live on. Especially if there was nothing set aside for emergencies e.g. the proverbial roof fund.”
I think that is an important point – having the assets to cover at least some emergencies is definitely a comfort even where normal expenditure=income.
@Grumpy T – the absence of Sunday afternoon dread is such an important point. Plus the other dreads I picked up. Like:
“What awaits me on this email?” dread.
“How am I gonna get through this presentation for which I’m woefully unprepared”dread.
And “What does this bastard want?” dread.
🙂
@Nimbus – that is a great rule. To which I’d add “being up and dressed no later than 8.30am.” (YMMV). Love the T-shirt! Like a minimum Service Level Agreement.
@firefry and Rhino – the kids question is so interesting. There aren’t any next-gen Accumulators and it is surely simpler to drive for FIRE without children.
I always thought Mr Money Mustache was especially illuminating on this topic. IIRC, he argued that being able to spend more time with his son was part of his motivation for achieving FIRE. And I think he solved the role-model question by reinventing himself as a small business owner, community builder and entrepreneur.
I doubt many people are wired for a life of pure leisure so I think of FIRE more as an opportunity to build the life you want. To freely decide how to divide your hours between hard work, quality time, giving back and paying it forward. It’d be really interesting to understand to what extent those decisions are impacted by the presence of kids (and possibly their age?) versus an individual’s intrinsic motivations. Very difficult to unravel, I suppose.
@Alan S – “Delayed rather than cancelled,” seems like a good motto. I think that nicely summarises how I felt about selling more of my labour during my third year.
Thanks TA for a great article and everyone for the comments.
@firefry your point on setting an example to kids really resonates, my 10 year old son is at a very impressionable stage and while I’m 18 to 24 from being financially ready to FIRE, it’s an interesting point to ponder on. I hope my confidence in my ability to parent well, combined with my desire to escape the grind will be enough to get me over the line when the numbers stack up appropriately! The hock of looking for the extraordinary in the everyday, without the constant underlying stress of work remains very compelling.
Well, my children are 12 & 13 and as the Jesuits said, “give me the boy before 8 and I’ll give you the man.” If you haven’t got the core values right by then, I think it’s too late.
I’ve just handed in my final career notice at 59. I’ve got a full NI record and I’ve (mostly by luck) have enough. My children understand the message – spend beneath your income, save the rest and be patient. (None of which I did, but like I said I got lucky.)
And I hope to be able to pick up 12 or 15 hours a week for the money and for social aspect. After all, I’m perfectly capable. And earning a little extra a week relieves the pressure in those early years. Win win win.
Congrats on FIRE-ing again!
Have loved all the comments too from those who have a couple of years’ retirement under their belts and of those who are counting down to their FIRE dates.
I hope to be in the latter group soon!
>Here we are on our world tour …
>Here we are again! …
sounds exhausting [tm Basil Fawlty: The American]
Thanks for the thought provoking post.
It’s highlighted that I’m a bit odd in being a serial ‘work stopper’. After 3 months not working, I’ve just said yes to a 6 month contract starting in September. Before that I worked on a contract for 12 months, preceded by 6 months not working.
I wouldn’t call it FIRE .. the FI bit has been true for 2 or 3 years maybe longer, the RE bit is not. I’m 67 now and have never been interested in RE.
I’m very lucky to have found work that I enjoy and to be able to avoid the corporate BS because I’m a contractor
@Weenie – fingers crossed for you! The best part is the way the journey seems to speed up on the final laps.
@PC – it sounds like you have a great balance. Why not keep at it if you enjoy it?
@TA, great update, and fantastic comments.
I have featured twice in the FIRE-side chats (domestic geo-arbitrage made it possible & rekindled: a year in the country). Reading your update, and all the wise, valuable, and thought-provoking comments. Has inspired me to put in my two-penny worth. I will attempt to do it in a (hopefully) brief manner, as otherwise, it will turn into another article.
I am currently in my third year of blissful freedom. But we are considering spending a chunk of money on updating the house. Plus, as my children get older, I am starting to think more about how I will help them financially going forward.
This has led to me considering two potential paths to assist with these dilemmas. Part-time employment or a little naughty adventure into active investing/trading. Full disclosure – I am already underway on the path of the active investing/trading route. I have opened a new ISA account that is purely for active activities.
Within my new ISA I have setup a watchlist of Tech/AI companies. So far, I have invested in some of these companies for as little as a few hours, the longest being one month. I am riding my luck, and have more than doubled my money. I appreciate it is a very risky strategy, but my initial outlay is a tiny percentage of my overall portfolio. I must admit, that so far, I am enjoying the adventure from my armchair.
Other quick points/observations:
Our spending for a family of four has been as follows – 2023 just under 32k & 2024 just over 28k. 2025 spending currently looks like it will fall between the two.
Our net worth has increased each year. During 2023 by 14% (just over 7% in real terms) & by almost 23% (19.5% in real terms) during 2024.
I have not told my children that I am no longer working. As I have yet to come to terms with what kind of example, message this will send to them. I could explain that I am still working from home, but for myself as an investor. I need to give this subject some more consideration.
I am still struggling a little with embracing the de-accumulation mindset. I spent so many years saving and investing aggressively, especially in the last few years before I stuck it to ‘The Man.’
I have a nagging doubt that I may not always be making the most of my hard-fought freedom. I have come to understand that I am more comfortable as a homebody rather than being a swashbuckling world explorer.
@Nimbus – The T-shirt made me chuckle, especially the part – ‘not my problem anymore.’
@ Grumpy Tortoise – I enjoy my Sunday afternoons/evenings now. It is a world away from that creeping dread that use to engulf me.
@Jake,
I am intrigued; after two excellent years of returns could you say a bit more about what prompted you to take more risk?
Also, have you looked into you & yours NI yet?
@Al Cam (#40) – It was a mixture of reasons. Originally, I became interested due to the volatility caused by the tariffs. I sensed an opportunity if I was prepared to take on more risk.
Recently we discussed the possibility of having work done to update the house in the next year or two. I concluded that if we are to proceed, I would rather not fund it from the passive part of the portfolio.
I have also been contemplating the financial support we would like to offer our children once they are at the age to consider further education and beyond.
We checked our NI records. Any gaps we had were too far back (pre-2006) to top-up. My wife has been receiving NI credits via child benefit. Our intention is to purchase any missing years further down the track. So that we will be eligible for two full state pensions when the time comes. I am in no rush just in case I find a part-time role in the future.
@Jake,
Thanks. My Q (in part at least) was prompted by this comment which you may have overlooked: https://monevator.com/weekend-reading-meeting-your-idols/#comment-1900368
I hope it all works out well for you.
Will you keep us in the picture as things develop?