34 yrs to go

[TheRightStuff]

At 32 and on 350 p/d then retirement is but a dream as indicated in your original post. You are well ahead of the game but I would question the wisdom of taking on a 200K mortgage at the moment when you've got a 4 bed house already and prices are well and truly BOOMED !

yeah I feel so poor. Not.
4 bed house but downstairs is not big enough as we have play mat and toys everywhere. We are now stepping over things. If my house is boomed then so is the next one. Don't think it makes a big difference if your allready on the ladder. Lets say price go down by 10% mine will go down by 40K the next house down 60K. However, I don't think prices will go down, more likely to stabilise. Too much demand. I'm also going to stay in the house for a while so it shouldn't make a lot of difference. If your not on the ladder then it might be worth waiting.

So what sort of rate should I aim for to retire early 450, 500????

I wouldn't say at £350 p/d retirement is a dream. It's just not likely in the near future. I've also had some bad times with being made redundant twice in 1 year. Ended up going contracting 3.5 yrs ago and my first gig was 160 p/d.

I've worked my way up and now on 350 p/d so far. Now going to look at Project management as my next step up. Don't think I've done too badly considering I've had some bad luck with permie positions.

[Troll]

I recall the days when £350 @ day seemed beyond the dreams of avarice, today it would be a infill job taken in desperation to keep the meter ticking over.
The thing you find is that your expenditure will always expand to fill the income generated - more so if wife/kids are involved.
Just had a flashback to first contract & living on drawings of £1500@ month !!

[lukemg]

I am out at 55 and I don't care how much money I have then. From what I have seen, anyone in a fairly well paid profession ends up with miles more money than they need when they retire/die. Hand-to-mouthers always struggle cradle to grave.
If necessary, sell the house and rent somewhere (income from the capital will likely cover the rent leaving the capital intact if need be/for the kids)
Get a good range of share investments started when you have spare cash, cook these for 25 years and they will see you right. Chuck in a bit of inheritance and you are home free.
Most people are going to die owning a house they have slogged to pay-off for decades, why is this a great idea ?
My family history says 3 score and 10 is my lot and everything else is a bonus, I intend to enjoy the last 15 while I am physically able (god-willing). I accept I will never be rich but I can have a comfortable life without too much trouble.

[wendigo100]

Just had a flashback to first contract & living on drawings of £1500@ month !!

"Drawings" ... those were the days!

[rootsnall]

yeah I feel so poor. Not.
4 bed house but downstairs is not big enough as we have play mat and toys everywhere. We are now stepping over things. If my house is boomed then so is the next one. Don't think it makes a big difference if your allready on the ladder. Lets say price go down by 10% mine will go down by 40K the next house down 60K. However, I don't think prices will go down, more likely to stabilise. Too much demand. I'm also going to stay in the house for a while so it shouldn't make a lot of difference. If your not on the ladder then it might be worth waiting.

So what sort of rate should I aim for to retire early 450, 500????

I wouldn't say at £350 p/d retirement is a dream. It's just not likely in the near future. I've also had some bad times with being made redundant twice in 1 year. Ended up going contracting 3.5 yrs ago and my first gig was 160 p/d.

I've worked my way up and now on 350 p/d so far. Now going to look at Project management as my next step up. Don't think I've done too badly considering I've had some bad luck with permie positions.

I wasn't having a go !? Urging a bit of caution maybe ! 'Too much demand' is EA/vested interest speak for explaining toppy house prices that don't make any sense.

[TheRightStuff]

I wasn't having a go !? Urging a bit of caution maybe ! 'Too much demand' is EA/vested interest speak for explaining toppy house prices that don't make any sense.

I know you weren't. Just seems as though if your not earning £1000+ p/d people on here put you down. I'm happy with my pay so it doesn't bother me.
I'm happy with everything I've got and my actual living costs are low.
I don't drink or smoke and enjoy my golf, tennis, running etc. which compared to smoking and drinking is cheap. We've had great holidays before our child was born and it's great to come home and see my wife and child there at home waiting for me.

So all this rubbish about I was earning 350 p/d when wheels were square and I would only take that rate to fill a gap means nothing to me. Doesn't impress me at all. Working part time until I'm in my late 40/50 doesn't bother me.

No one has told me what they regard as a good rate yet.

[TheRightStuff]

??

[Euro-commuter]

yeah I feel so poor. Not.
4 bed house but downstairs is not big enough as we have play mat and toys everywhere. We are now stepping over things.

If you find a 4-bedroom house too small for 2 adults and 1 child, then you are, frankly, going to have to make some choices.
Like, just not have so much stuff; or, not live in such an expensive area.

If you won't compromise on either of those things, you need to be rich, because you are definitely thinking rich.

PS or you haven't noticed that even 1 child expands to take all the time and space available! You'll be stepping over stuff wherever you live.

[TheRightStuff]

If you find a 4-bedroom house too small for 2 adults and 1 child, then you are, frankly, going to have to make some choices.
Like, just not have so much stuff; or, not live in such an expensive area.

If you won't compromise on either of those things, you need to be rich, because you are definitely thinking rich.

PS or you haven't noticed that even 1 child expands to take all the time and space available! You'll be stepping over stuff wherever you live.

the house was orignially a small 3 bed semi which has had an extension added behind and above the garage. the lounge and dining rooms are only 14ft x 11ft and the kitchen is 16ft x 10 ft but there isn't any room for a table.
I don't have to compromise at all. As I said we don't have a mortgage so I can afford a much bigger 4 bed detached with 3 reception rooms ( 1 will be a play room) and a big kitchen. We've seen a house that we like but we are just waiting to sell ours.
Yes I have noticed 1 child takes up alot of space which is why I am moving and yes she does take up alot of our time but I am loving every minute of it.
Whats your actual point?

[Euro-commuter]

Whats your actual point?

What I said: if you think that a 4-bedroom house is too small for 2 adults and 1 small child, you have an inflated idea of the space that you "need" given the area that I believe you insist on living in, and your household income.

Your life, your decision. But that was my point.

PS, contrary to what you say, you do have to compromise: you are compromising your retirement. Which I think was your original point.