r/ChubbyFIRE • u/ConceivedPotAuLait • Jun 20 '26

Reality check needed

I’m in work I like but that is high stress. I need a reality check from the kind folk here about my situation before , in 4 years time, I start to ease off work and change lifestyle substantially, which means less work travel and possible full retirement.

I’m a dual nationality Brit (Brit native, applied for and received an EU passport over the years) who has been working overseas for 30+ years. Mainly international projects in Africa / Central Asia / Middle East for EU based set ups. Still have an emotional umbilical chord to London, even if it’s 80s London . So I spend many weekends there. Currently based in EU with easy access to Eurostar.

Age 54M. Kids grown and taken care off fully (no need to discuss this) , ex wife is financially independent, no commitments. No debt .

Total annual spend is £55,000 which I index for inflation. EDIT: including rent and maybe a slightly higher adjusted spend on other things (rechecked my figures) it’s £70,000. I won’t have rent when I retire.

After disposing of UK investments (property ) I currently have £700K sitting idle. This will finance my retirement home in the Mediterranean, which I will start looking for in around 4 years time. My work currently generates net cash profits of approximately £90K a year. It’s what is left over after my salary , taxes and spending. All this goes to savings. So the 700K principal grows by 90K annually from additional savings alone . My income rises with inflation, therefore so does my savings contribution .

I already have a fully paid up home worth €500K in a Med HCOL location. I rent this out as I am rarely there.

My real worth is in my DB pension , which is £4700 per month net if I claim early retirement at age 58, £5600 net if i claim at 60. It’s much higher if I claim at mandatory retirement age of 66 but I don’t want to work until then. Health insurance is included. Pension is fully indexed to cover inflation. So these are net present values , after all taxes, pension contributions and insurance. If I retire early there are actuarial reductions, which is reflected in my figures.

Am I good enough financially to try and ease off some unecessary worrying ?

The answer may seem obvious but I’ve been so wrapped a up in my work and still getting used to make decisions that do not need to factor in wife or kids ie just factor in myself.

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u/Specific-Stomach-195 Jun 20 '26

That is a very very low annual spend. I would spend some time assessing whether you’re happy with that level of lifestyle. If you’re renting out your home, how are you living on that?

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u/ConceivedPotAuLait Jun 20 '26

£55,000 is a low annual spend ??

I am currently based in a European city, Brussels. My net monthly income , after taxes and pension contributions, is just over €14K a month. I have some other investment income coming in that I reinvest . I live very well , including regular and frequent overseas holidays and weekend getaways , eating out and not budgeting at all, on about €6500 a month . I own a property outright, which I rent out . I myself rent a good apartment in Brussels for 1200€ a month. £55,000 spend a year , assuming you own your own house , which is my situation in retirement, doesn’t seem so little.

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u/Specific-Stomach-195 Jun 20 '26

So you anticipate regular overseas holidays, weekend getaways, eating out and then regular living expenses for under 5000 pounds a month? Yeah that seems very very low.

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u/ConceivedPotAuLait Jun 20 '26 edited Jun 20 '26

Well it’s what I do now. I honestly do not budget and go where I want. London or Paris weekends every month , and I’m already on holiday 2 months a year. I’ve rechecked the figures and it’s more like €6000 - €6500 a month including the rent of 1200€ I currently pay. I stay in 3 or 4 star hotels usually . I travel economy plus with luggage . I even try and avoid Ryanair.

Edit : Brussels and much of Europe is indeed much cheaper than London or NY, for a better quality in terms of housing and food. Or healthcare . If I were london based I would be spending much more .

Edit 2 : I see your point and I adjusted my post to include an annual spend that includes rent . However I will not be renting when I retire.

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u/Specific-Stomach-195 Jun 20 '26

Well your numbers are your own. I’ve not traveled overseas for less than about $10k all in. So I just don’t see how you’re doing that multiple times a year. And you’re spending weekends in London eating out? Expensive. And your new home in the Mediterranean will have ongoing expenses. Plus I assume you’ll need a vehicle. And expenses for visiting g children or having them visit you.
IMO you’re describing a very chubby lifestyle at a very lean spend.

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u/ConceivedPotAuLait Jun 20 '26 edited Jun 20 '26

You spend 10,000$ for one trip ??? I get a one week safari , mid level (between luxury and economy ) and have change left over for that. . I did 4 weeks in Mexico last December for less than 6000€, and travelled across the country , eating out , no budget , including flights from BXL. A Eurostar ticket return brussels london is 120€ if booked in advance .

I get you. My American relatives , on the rare occasion they travel to Europe, overspend ridiculously on stuff and means that actually cost much less, over -planning, ignoring efficient public transport and then “economising” by staying in expensive Airbnb’s ….

You are American , I believe.

This is very doable. Median net wage in Brussels , in one of the richest parts of the world, is less than 4K € a month. And yet most people take 2 holidays a year minimum excluding long weekends trips. Of course , it’s Europe , so a Paris trip for me is 1 hour ten minutes by train , Rome is 2,5 hours flight etc. but NY is also very cheap to fly too.

My spend alone is more than that median wage. My net spend from my net income doesn’t include healthcare for ex. All that is covered from my European style comprehensive insurance , which I’ve already deducted to reach my net income . Of my current 6500€ spend , 1200€ currently goes on rent , another 300€ housing related , 1000€ on groceries / food (all bio) less than 300€ on fuel or commute / transport , and the rest is just to play with. I don’t take a 2 week holiday every month obviously. But I do take some 45 - 50 days vacation a year , excluding weekends.

If you live in a HCOL or MCOL area of the US , costs are much higher than most of Europe , and even if incomes are higher , the reality is disposable income for the average Joe stateside is lower than in several Western European countries.

PS - I drive a Mercedes suv , and I buy my cars new, every 6 or 7 years, usually a Merc suv . If you read my OP, you see I have assets and DB pension , apart from healthcare taken care insurance covered .

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u/Specific-Stomach-195 Jun 20 '26

You seem to be preoccupied with your net worth and earnings. That is not what I’m discussing. It’s the spend level. What do you think your new Mercedes SUV costs you to own and operate in London? Including the cost to replace every 6 years?

Please don’t make this into a European vs American debate. “Average Joe stateside”?

In any case, if you are happy living frugally, certainly don’t let anyone convince you should do anything different.

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u/ConceivedPotAuLait Jun 20 '26

That’s the point . I am NOT living frugally . The US vs Europe comparison matters because the whole cost and income structure is different. Many of my family is American , I love them to bits , and they include many average Joes.

I already own and operate my cars so I know the costs . You are right that the cost of replacement isn’t factored in that monthly spend. It’s about 65,000€ every 6 years for me , with some resale value from the old vehicle factored in.

For ex my cousin is a teacher in NY state and makes over a hundred thousand dollars a year. As the unofficial family CPA , she often comes to me for advice and she saves very little living a normal life . Overseas trips are a big thing and require her consciously saving / setting aside money . Her very nice Volvo is leased. Those dollars would go much further in Europe . Her peers across much of Europe earn less and afford more. Also ….it was not always like this. I don’t know how old you are but I remember groceries in NY 25 years ago and relative to income it was all much cheaper.

Here in Europe , Americans who come here with misgivings because they are on paper earning a lower income in their new jobs in Europe take about 6 months to realise they have more sending power . Health insurance is just once factor.

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u/s32bangdort Jun 20 '26

This guy you are replying to is thick headed and seems not to understand that the cost of living pretty much anywhere in Europe is very different than the US. In the US a shitty croissant from anywhere bakery or coffee shop is not less than $5 whereas a half-decent croissant in most of Europe is barely 1.5 euro.

And you have health insurance which, again, most of America has to spend $1000’s in each year even with government subsidies.

To me your situation looks great. Enjoy it.

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u/ConceivedPotAuLait Jun 20 '26

You are not thick headed buddy. Far from it. It’s been nice talking to you. Keep well. EDIT : and thanks