Reaching 99% FI is something I could not even imagine when I discovered FIRE and started this blog over 3 years ago!
It doesn’t seem real in a sense, but nonetheless, here I am.
I know I’m not the most eloquent blog writer, and there are some fantastic UK FIRE blogs out there at the moment, but I persevere and hope my updates provide some value and inspiration to someone out there.
Mrs FU is a much better writer than me and I keep trying to persuade her to write some more posts for the blog, but she continues to be extremely busy doing her amazing job of bringing our 6 kids up and running her tutoring business as well.
The support of other UK bloggers and their comments on various posts does provide encouragement to continue writing updates, as it can seem that sometimes no one is out there reading or interested in the posts published. Special mention and thanks has to go out to weenie at quietlysaving, tony at onemillionjourney, gm at gettingminted, gff at gentlemansfamilyfinances, indeedably at sovereignquest, jase at firelifestyle , jamie at lemonadebudget, the fireshrink, Dr fire, cath at thesquirreler, and any others I have failed to mention, who are regular commenters/likers on my posts.
So, what happens now?
Although I am nearly FI, I am not going to RE just yet.
I will continue to work until I can draw my SIPP in just over 4 years time, although now the pressure is off to some extent on the money earning side of things so I will become more selective on doing the type of work I enjoy.
I have some vague ideas about succession planning for my property business and maybe one of my boys, or my daughter, will take over at some point. FU#3 does his GCSE’s this year and has expressed grunted an interest in starting work with me in an apprentice capacity. I am devising a pathway that he might follow with me to gain his qualifications up through to degree level, then gradually take over the running of the business so I can step back in 4 years time.
Lots to think about and plan!
Congratulations! 99% FI, I wish I was there too! 🙂
I enjoy reading your updates, so they provide value to me.
It would be interesting to read and know more about your property business. It could perhaps be something to write about in the future?
Hi Tony
Good to hear you like my updates.
I plan to put more updates about my properties in future posts.
Good luck on your move back to Spain
the following comment from GentlemansFamilyFinances disappeared into the ether
Good job – glad to hear that you are 99% of the way there already!
If you do get to 100% in April, will you have the cashflow to be financially independent month to month?
Tour dividends are in the hundreds and whilst the rental properties are cash positive, you can’t eat out on equity.
One more thing, DB pension x25 accessible from 60? State Pension x25 paid from 68?
Why use the same multiplier?
(I use 20 and don’t count on the state pension in net worth but now it’s only 30 years away see that it’s worth remembering we have it)
Hi GFF
Yes we could probably cover bills etc. with not much left over though. So going to carry on working at the moment to continue to pay down debts and increase my stash!
DB pension is accessible from 55 so will have to decide whether to take then or leave until 60. I have used the 25x multiplier to keep it simple at the moment but I may have a look at how different multipliers affect the drawdown as I refine my approach over the next couple of years.
Congratulations on hitting 99% FI! Hitting your number with six kids in tow is quite some feat. Thanks for the shout-out. Looking forward to future updates!
99% – you’re within smelling distance of being FI, it’s fantastic!
Whenever there’s something in the mainstream about FIRE, some commenter will always say that FIRE is impossible with kids and I just want to point them to your blog!
Now comes the challenging part, planning on what comes next, with your property business and more detailed info on your various pensions.