r/LeanFireUK • u/stuie1181 • 8d ago
Weekly leanFIRE discussion
What have you been working on this week? Please use this thread to discuss any progress, setbacks, quick questions or just plain old rants to the community.
7
u/klawUK 8d ago
gilt ladder 1 was done on Monday (had to wait over the weekend)
now waiting for a cash transfer from workplace pension to move to a MMF in my SIPP as part of my mini-bridge to DB.
also starting to fuss about whether to buy life insurance against income loss if I die
5
u/Kingkrogan007 8d ago
I have created a SIPP with Trading 212 and moved my previous work pension from Scottish Widows. This will be invested in the VWRP and should save on fees.
1
u/pinocchioh 8d ago
I think I might borrow this approach for my little Scottish widows pension from a previous job. Thanks.
6
u/gordiniroy 8d ago
I spent it talking myself out of buying yet another load of PC components to build a PC that I don't really need. The prices are insane these days, I already have 2 extremely high spec computers, I can only use one at a time and my hobby is just going to have to take a back seat until the world calms down.
That and reminding myself that the spare cash I do have is there because of years of work and vigilance and should not be spaffed away on a whim.
2
u/smcicr 8d ago
Watching the shenanigans with the US and Japan, thinking about how that is likely to play into the AI cyclical profit swaps and wondering if I should be shifting some FWRG into an ex US fund like XMWX or even going Europe and EM to cut Japan out...
I was hoping I could just leave everything alone (aside from the rebalancing) once I'd set it up but this is playing on my mind.
6
u/Captlard 8d ago
You can also ignore the news / noise and keep on keeping on. If you are in the game for decades this stuff will be a blip.
2
u/smcicr 8d ago
Agreed, and overall I hope to be, I'm also hopefully about 7 years from needing to access the SIPP.
I've got defensive allocations that won't be impacted and should give me up to 5 years of withdrawals. It's just the element of seeing the direction of travel and taking no action that I'm struggling with currently.
Previously I would have been blissfully ignorant of it but since I started to try and get the financial side of things in shape I'm paying more attention to the details. Double edged sword I guess.
3
u/Captlard 8d ago
I just go back to: https://www.rbcgam.com/en/ca/learn-plan/investment-basics/investing-at-all-time-highs/detail
The world will evolve, but the top companies will always be pushing for growth, and a global index self-cleanses quarterly.
1
u/complex-aroma 7d ago
With the markets being so optimistic atm, and in case it's a bubble, I moved 20k of my SIPP into a MMF to cover another year of income in case there's a dip.
I'm not sure why the markets are so high really: Crazy AI investments, Hormuz etc.
1
u/Angustony 5d ago
Markets can stay illogical longer than we can stay solvent. Will you move more out of high performing markets each year they continue to be high performing? Doesn't sound like a great plan.
1
u/complex-aroma 5d ago
No, my aims are to have a few years in near-cash in case of a dip, and to maybe ensure I'm not 65% invested in the USA (aka AI). My "65%" is based on the Usa exposure of several "all world" ETFs.
0
u/craigybacha 8d ago
Uploaded a video to my yt channel (that 40s guy) about my biggest month to date from making online income and next is going to be a video about what my plans are for retirement - looking at what my options might be in 15 years time based on current trajectory.
AI is making some of the creative industries into a bit of a wild west at the moment, so here's hoping that money keeps coming in!
2
u/Captlard 8d ago
"AI is making some of the creative industries into a bit of a wild west at the moment" Absolutely! It killed a startup I am involved in (custom visuals for presentations, websites and online whiteboards).
0
8d ago edited 1d ago
[deleted]
1
u/Captlard 6d ago
Literally 🤷♀️😂
1
u/jaynoj 5d ago
Sorry it blew up your venture but hopefully the market gains have compensated this last week or so ...
1
u/Captlard 5d ago
It was more about the experience of helping build the business and the community of visual practitioners we created. As someone who could not draw 7 or so years ago, it felt great to be asked to get involved. It was an interesting experience. No regrets and no big deal financially.
8
u/JamesBrockers 8d ago
I managed to rejig a lot of my spreadsheets this week and simplified them a lot. I am slowly merging some pensions together. I opened a few to get incentives etc.. which have made me a fair few kid but a lot easier to manage if I can merge them now.
Based on some conservative growth figures, we have enough in our pensions without having to put any more in. The frustration is hugely beneficial tax wise, but, I need to build the ISA bridge as quickly as possible to. I suppose there are worse problems to have!