If you asked me 4 years ago what I wanted to do when I retired, I would have said “nothing”. My priorities would have been chilling, travelling and spending as much time as possible with my young family. I had dreams of leaving work on my 41st birthday, clearing out my desk and handing in my ID card. Saying bye to the reception staff one last time and turning my back on Corporate Life in the City of London.
I have been tracking a FatFIRE age of 41 for the last 3-4 years! As far as I could tell, my models predicted that on my 41st birthday I would retire or be ready to retire. But a double Whammy of UK’s IR35 regulations and COVID-19 has thrown everything off course. But we have a lot to be grateful for.
Provocative title, I know, but I had to catch your eye some how! This is a short thought experiment on how much you need to invest on a regular basis to hit a net worth of £1M by 40 or £2M by 50. Includes free tools and links to help you get started and work out your own numbers.
£1M, £2M, £15M? FatFIRE isn’t a defined accounting term. It’s something that means different things to different people. But how much is enough?
This is my guide to calculating your future expenses, cashflows and modelling your FatFIRE number and working out your Retirement Age. ++ Free tools and downloadable resources to get you started!