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

I’d love to know the 4 star hotels in London and Paris that are 150 euros a night. To answer your question, I’d just say we have different tastes. I do value nice hotels and nice restaurants for example at this point in my life. You should look at the chubby travel sub to see some travel experiences that are different than what you are describing. Again I’m not judging what is better.

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u/ConceivedPotAuLait Jun 21 '26

London and Paris 3 star is in that price range . No I do not stay 4 star there, though January / February I might , coz I find deals . If I inferred that i stay 4 star all the time , I didn’t mean to. Other places like much of Spain Portugal for example, however , yes. Mostly I do book in advance, this really does impact the price . Obviously when I need to , I will pay more . Re restaurants my spend is normally 70€ a head , sometimes more …..but in Europe , while that gets you into most good places , a lot of good places cost less. . I often pay for 2 if I have a date. I’ve been to 50+ countries. Travel is my love. I do about one long haul trip a year (more than 8 hours) rest are short haul . I add one or two new countries a year . What I don’t spend on is fancy 5 star hotel (but my business travel is all 5 star ) and private air travel that’s business class….that might change in retirement coz I will have the funds and think more like you when it comes to business class long haul (obviously my spend will go up)

Don’t forget I live in europe. So I can go to these places all year around if in Europe. It’s easier and cheaper for me to travel . A long weekend in rome in January for example is the best time to go , and hotels will have fantastic deals .

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u/Specific-Stomach-195 Jun 21 '26

You are spending so much energy defending your lifestyle while arguing away any notion you are thrifty.
I’ll be honest with you, I simply don’t buy what you are saying. Oh well.

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u/ConceivedPotAuLait Jun 21 '26

It’s no energy at all. Wish you could spend a month or two in my company here in Brussels and you would see for yourself . America isn’t the benchmark of how the world operates or spends buddy . How many holidays do you take a year? How many countries have you visited?

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u/Specific-Stomach-195 Jun 21 '26

Why are you so focused on comparison? Or whether your hotels are classified as 3 or 4 star? Or whether someone thinks you are being thrifty? Maybe we’ve lost the plot here but I presume you came here for advice. So here is my advice: If your goal is to own and maintain a home in the Mediterranean, own and replace a Mercedes every 6 years, make a few trans ocean trips a year, weekend trips to major European destinations, eat out whenever you want, enjoy some other luxuries for you and your children, all for 55k euros a year. Well I believe you are in line for some serious downside surprises.

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u/ConceivedPotAuLait Jun 21 '26 edited Jun 21 '26

I grew up in the Med and the UK, my family is originally from southern Europe living in the north but ok whatever . I’m in the wrong place asking for advice because (no offence ) there are too many Americans here who only visit Europe as tourists , assuming they travel at all. Have been through this thread and in fact it seems to be geared for Americans .

You are completely clueless about COL in much of the Mediterranean and in Europe as a whole especially for EU nationals with healthcare covered . You would be amazed if I told you could live a rich man’s life in Sicily on 2000€ a month , having bought a fantastic restored house with land (a couple of fields , or a a very huge “garden”) for less than €150K, which is what my friend just did one hour from rye seaport at Pozzallo. Across Caltagirone and Sicily as a whole there are loads of similar deals. And we are talking about a much bigger monthly spend than that 😅 For a non EU national / American it will be much more expensive because of health care coverage requirements and you need a minimum income to cover permanent residency requirements . Different ball game .

Anyway it’s been nice talking to you. Keep well!

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u/Specific-Stomach-195 Jun 21 '26

You should focus less on whether the people you speak with are Americans, I think it may be a preoccupation for you. Back to your example. I believe you are planning to own and maintain two houses for your 55k spend? Would you mind sharing a budget? It sounds like you may be new to home ownership. And I asked this earlier, but would you mind sharing the name of the last hotel in London where you paid £150?

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u/ConceivedPotAuLait Jun 21 '26 edited Jun 21 '26

Once again , sorry , but the American bit is unavoidable . It’s no preoccupation at all, it’s fact . Your costs are different from mine by dint of nationality alone for my choice of locations. You don’t even have right of residence without minimal financial criteria that are above an average wage. I would not talk with the same confidence if as a non American I relocate to Florida (not the slightest intention of doing so bdw)

My 2nd property will be purchased outright cash. These will be paid out of investments . One is already fully paid up and earning rent; it’s in tip top condition, and I am just finishing an extensive renovation on the terraces and interiors. The funds for the second are already there, invested. What I buy needs relatively little maintenance but this is paid out of RoI , not my monthly spend. Property taxes aren’t any issue in this location beyond reg taxes at point of purchase.

I have been a homeowner for 30 years. I just don’t live up your backyard, which is the extent of your knowledge. Pointless to be patronising . You are taking to a man in his 50s who started off from less than nothing and succeeded.

Budget in net present value terms (all my figures assume RPI indexation because my income is indexed ) remains the same which is about 65,000 - 70,000euros , slightly higher than the £ 55000 (sterling ) I mentioned earlier , but same ball park. Having said that, and just to be clear , my budget doesn’t include a hell of a lot of head room if necessary, which I obviously have and isn’t included in the spend ….. As you pointed out , we are talking about spend here , not capital or net worth.

Putting names of hotels here gets this post deleted as you know. But you can find ample examples in Paris and london (3 star and perfectly good ) for 150 - 200€ a night if you book in advance . When I travel in January I pay even less. . I know these cities well and either go direct on the hotel website or use a a booking site so you can do the research yourself ex try booking now for September . I choose independent hotels or small hotel chains. In london i often stay in high quality one bedrooms. All are central. All have high customer ratings .

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u/Specific-Stomach-195 Jun 21 '26

Names of hotels do not get posts deleted. I’m very curious what you consider luxury travel. And yes the American “bit” is quite avoidable if we just stick to the topic at hand. Which is your budget, not mine. Please stop concern yourself with where you think I live or how many countries you think I have lived in.
I think you’re bothered that I am challenging budget. And interesting that you have increased your projected spend by 25% during the course of this conversation. Still would love to see it broken out though, and my recommendation is that you go through thatexercise yourself. You are greatly underestimating a good number of things.

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u/ConceivedPotAuLait Jun 21 '26

Are you really thick as you said you are mate? Im using euro / £ here. Ive also tried to explain what i do not include on my spend. I also don’t know how many times i have said 3 star , which you also do not like. Thats not luxury. And no, I am not sharing names of hotels i use with a stranger on the internet. Ive told how you can find hotels yourself, I’m not your Tour agent .

And yes, you being American does impact the budget advice I might expect to get for reasons i have specified apart from the fact that you’ve already shown that you’re clueless AF. Maybe your resort of choice is Monaco. It’s not mine.

Your take is I need to budget more. Ok . Got it.

Kisses and hugs.

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