Bit behind where I wanted to be at 46yo
Hi all, never been a risk taker with money and always a mid-level earner, with a little OE sprinkled in that has helped. At 46 I'm taking stock of things as, probably like most people, I'm a bit sick of my corporate IT job and need some light at the end of tunnel. Ideally reducing working hours at 57 or taking a more fun community type job. Luckily where I live in the UK there are more jobs than people so the latter is not an issue
My position: Mid £50k PA 180k pensions, currently only 9% employer contribution going in House 1 owned outright, was main residence for 11 years (so no CGT?), £325-350k House 2 mortgage 260k, value 365k, current residence Savings 50k
For context house 2 coming out of initial 2 year fix at 6.29% - ouch. Will put money in and aim to get under 60% LTV, lower the payment significantly, meaning I can salary sacrifice into pension and/or invest.
Ideally want to kill mortgage 2 in 11 years if possible. Then sell a house and start to step back from work, as above, hopefully without taking a pension lump sum.
Have never self invested but am tempted to make a start inside an ISA wrapper, but am the first to admit I don't know enough. I know a bit about a couple of industries to hopefully make some sound decisions - but we all know it's a gamble really.
Some inheritance likely but can never be relied upon of course.
Apologies if I've missed important stuff.
Posted Aug 5, 2025, 10:06 PM UTC