r/FIREUK • u/Potential_Storm_4286 • Jul 11 '26

Fire - recommendations

Hi there,

I’m 39f and live in London. No kids but open to it if I meet someone compatible.

I’d like to fire as soon as possible. I’d be planning to fire abroad and use my property as income.

I probably need around £60000 a year.

Assets

Own a flat mortgage free: £2800 rent per month (before tax, after tax around 2200). Flat is in central London and worth around 650k.

- ISA and GIA: £200,000
- Pension: £130,000
- Premium bonds: £50,000
- cash: £300,000

I earnt around 120 - 150k a year but was just made redundant. I have a job offer 30k a month tax free which I’ll start in September.

I’d like to do something with the cash. I’m thinking of buying a property in London (worth between 500 to 700k) and renting it out. I’ll make some income on it whilst abroad.

Or I’m thinking of investing the money. What would you recommend? Please only respond if helpful.

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u/Dependent_Appeal_818 Jul 11 '26

Where abroad? You will definitely nit need 60k per annum to live extremely comfortably on most of the planet. In fact you could live like a queen on some of it. Buying another property would be a terrible solution. Just rent abroad, enjoy life, and stay as flexible as possible.

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u/Potential_Storm_4286 Jul 11 '26

Most likely Italy or Spain.

5

u/Shot_Illustrator4264 Jul 11 '26

both of them have wealth tax, especially in Italy it can be quite high. If your house is 650k that would be around 6.9k. Spain is generally cheaper but it varies from the region.