Advice on approach to FIRE, 39M late starter, Scotland.
Late starter to getting my s**t together and changed things round in the last 5 years from minimum wage to a decent career that I don't want to waste the opportunity.
My current situation (Scotland):
S&S ISA: £38,774 Cash ISA: £16,810 Crypto: £2,687 Pension: £41,625
Managed to buy in 2023, £158,000 value with currently a £114,253 mortgage at 4.47% (joint with partner).
My current salary: £48,500
Salary sacrifice 16% while employer matches 4.5%. Plan 4 Scotland student loan.
So I'm paying £647 + £181 (employer) into pension and managing to save £1200 out of my salary.
Pension: £828 S&S ISA: £1200
Total savings per month:
£2028
Plus usually a 10% bonus into salary sacrifice: £4850
So potentially adding £29,186 towards FIRE per year.
£14,400 S&S ISA (global all cap) £14,746 pension.
Should I be paying in less to pension and more to S&S ISA?
I think I may be more LeanFIRE due to late start but what makes the most sense. S&S or Pension?
Posted May 7, 2025, 2:34 PM UTC