When do you stop working / making money ?

[WTFH]

Would you miss me?

Not if you stand still...

[PurpleGorilla]

Not if you stand still...

Onwards and upwards then.

[amanwhoisquiet]

I love these threads. I always had £800k in my head. I figure 20yrs at £40k a year and then whatever else it earns in the meantime would see me though. I couldn't see myself doing no work at all for those twenty, but it'd take any pressure off for sure. I'm coming to the end of contract #1 now and I'm guessing that's the beginning of the end of the 'warchest' I've got so far.

[Bacchus]

I think you've got it the wrong way around. I am hoping that I will give up work when I've had enough and then I'll look at the money and see what lifestyle I've got. I don't do this to slog on when I'm old and broken chasing a figure, most of which will probably just go to the kids cause I worked myself in to an early grave.

I think this nails it pretty well.

Buy a bit of property in the right place and your income is pretty much bullet-proof. Values might go up and down a bit but rents will only go one way so as long as you don't do anything silly like over-extending borrowing on your rentals you should be ok.

I turned down an extension on a bloody good banking contract over 18 months ago (aged 51) and don't regret a bit of it. I've travelled a bit, written a couple of novels, spent some quality time with friends and family. I've had to live on a couple of grand a month, it's not contractor money but it's comfortable enough even with a mortgage on my home. If I can ultimately make a few grand from the novels, well that's something I'd hope to be able to do until I drop dead, if not I am about to downsize the residence so a couple of grand will go a lot further.

Kids and wives are a problem - get your divorce(s) over with when you're young and have time to recover, breed a bit of independence into your kids, and try to remember that it's freedom, not wealth, that brings happiness.

[Bacchus]

I love these threads. I always had £800k in my head...

I would be tempted to put that in a bank...

[LondonManc]

It's not about the money. I don't have a goal of having x in a bank account, or in savings.
Work to pay off debts, and work to be able to enjoy life today as well as looking to the future. But you can't live in the future, you have to live in the present. If you spend all your time and energy trying to earn as much money now, you'll find that your friends and family drift away.
Family and health trump money every time.

What's it about then Jessie J?

[lukemg]

Time to bail is when you have got enough and you have had enough...
FIRE community says 25x annual expenses, with a margin for error and if you want to leave a few bob or 20x expenses if you want your last cheque to bounce...

Personal plan is to take summers off and pick up work as it comes along, no rush to pack it all in but happy to ease off.

[diseasex]

In my case i think I'll at very least be playing on LSE for the rest of my life. I made 800%, in 2016,this year so far 150% and feel like I've got a damn talent to that. So as soon as expenses are covered I'll be investing till I die....

4% yearly out of million taxfree on ISA will be just enough to sustain my yacht , good car, home with swimming pool food and entertainment in a warm place. More will come later but I'm sure i'll figure something out what to do with it. Reinvesting profits all the time has to stop at some point I guess...

[VillageContractor]

My situation seems to be different to a lot of you - started contracting quite late and with young kids and wife who works in the PS.

So most of my money is going covering living costs and trying to get a deposit together for a house in London. Will probably spend a long time paying it off.

If I could contract for 20 yrs then I should be in a good place

[diseasex]

My situation seems to be different to a lot of you - started contracting quite late and with young kids and wife who works in the PS.

So most of my money is going covering living costs and trying to get a deposit together for a house in London. Will probably spend a long time paying it off.

If I could contract for 20 yrs then I should be in a good place

I'm contracting for only 1.5 year so what time has to do with this?