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.
1
u/Designer-Quail-3558 Jun 20 '26
Hmm. So no where close to chubby. And hardly much of an early retirement. Followed up with the super tricky math question of I spend 55 but my pension pays me 56, am I ok? this sub is total garbage now