When do you stop working / making money ?

[d000hg]

Although I quite enjoy coding I would like to retire from "having to work" so I could indulge myself in things which might make money but don't really need to... making games, music, I'd love to write a book one day, maybe start an actual plan B business, who knows... I'd need something to do but doubt I'd struggle.

If we could live a fairly normal middle-class lifestyle as we do now I reckon we'd both think about retiring or doing part-time/voluntary stuff. Pay all the bills, eat out every now and then, a week or two away each year, nothing too extravagant really.

[wantacontract]

Soon as I complete putting my two kids through private school.......

By then, mortgage should be paid off also, and a decent pot of passive income meeting my expenses......current calc = 50.

[ChimpMaster]

You'll never stop.

[LondonManc]

When the enemy says so. Nuff said.

[The Canny Contractor]

It's that sweet spot or cross hairs moment when your passive income exceeds your annual expenses. I think they call it **** you money;- )

[Fred Bloggs]

Staff bloke again working overseas taking home GBP 10k a month tax free, all living costs paid for, in role I consider to be more like a paid vacation. State retirement age is six years away and I get 2 x deferred final salary pensions about GBP 25k per year in five years time.

When will I pack it in? Probably when working no longer feels like a paid vacation actually.

Still on the paid vacation, take home has dropped a bit now the GBP has strengthened a bit. Not exactly starving though

[Fred Bloggs]

Still booming,.........

Still on the paid vacation, take home has dropped a bit now the GBP has strengthened a bit. Not exactly starving though

Well, this particular paid vacation is drawing to a close. I have really enjoyed myself and bought the kids an apartment each in the meantime. Soon I will be back in sunny (?) England for a few weeks. That is, until my visa comes through for my next paid vacation, this time it's going to in the southern colonies so it'll be Christmas dinner on the beach for 2018.

I see not much has really changed around here. Still mostly a bunch of sad losers trying to dodge the next incarnation of the dreaded IR35. Main thing that's changed for me is the new record high salary. It's not so bad being a staff guy on a paid vacation picking up just shy of 400k Ozzie dollars a year. Not bad at all really

[BR14]

Well, this particular paid vacation is drawing to a close. I have really enjoyed myself and bought the kids an apartment each in the meantime. Soon I will be back in sunny (?) England for a few weeks. That is, until my visa comes through for my next paid vacation, this time it's going to in the southern colonies so it'll be Christmas dinner on the beach for 2018.

I see not much has really changed around here. Still mostly a bunch of sad losers trying to dodge the next incarnation of the dreaded IR35. Main thing that's changed for me is the new record high salary. It's not so bad being a staff guy on a paid vacation picking up just shy of 400k Ozzie dollars a year. Not bad at all really

I bet your cat's got big bollocks too!

[Fred Bloggs]

I bet your cat's got big bollocks too!

Used to have. Before the cruelest cut of all.

[MarillionFan]

I was basing it on a passive income of 50k per year based on savings / investments. Presently getting in 24k passive income. If we were back to 5% interest Id be right on the money, but alas no.

Gig is pretty easy. They're all ready talking extension, though the three years they mentioned earlier in the week can feck off.

So 14 months later, 47, got the passive income up to 27k per year, plus squirrelled away 60k into the company warchest to date where I pay myself and the missus 1.5k a month, so that should be a basic 45k for the year. Contract runs until end May and have said I wont extend any further as they keep dicking me about.

Increased pension to 400k, 300k in cash, 1.1M in properties, mortgaged to 600k, so now works out at 1.2M in equity and i have to say, it doesn't feel anywhere close to enough.

I want to retire at 55, so I reckon adding 40k * 7 = 280k to the pension, with growth at 5% gets me to 800k or so.
I'd like to increase the cash up by maxing ISA's out each year (myself and wife), so that's closer to 600-650k

and then ideally reduce the mortgages, but not too fussed about those as the idea is to increase the cash amount ahead of the mortgage (based on what ever the lowest interest rate is)

I think 100k a year is the number to aim for.