24 - Feeling Overwhelmed by Life

Hey folks,

I’ve been lurking for a while and finally decided to post. I just turned 24 and I’m trying to get serious about my finances and FIRE ambitions. But to be honest, with the current UK economy and rising cost of living, I’ve been feeling a bit overwhelmed. Would love some perspective on how I’m doing and if I’m broadly on the right track.

My situation: • Salary: £44k before deductions • Pension: I contribute 5%, employer puts in 10%. I’ve got around £10k in there, mostly in global ETFs • Student loan: Plan 2 – repayments are around £50/month • Investments: £10k in a S&S ISA (also mostly global ETFs, passive strategy) • Emergency fund: £2k in cash • Savings rate: Aiming for £600/month • Background: First-gen to focus on this stuff, no family wealth or safety net — so there’s definitely pressure to make good decisions and build something sustainable.

I’ve got my eye on big life costs on the horizon (housing, possibly relocating, maybe starting a family one day), and just want to make sure I’m laying the right foundation. But with inflation, rent, general economic chaos, etc., it’s hard to tell whether I’m doing “enough” — or whether I should be shifting gears somehow.

A few questions I’ve been mulling: • Now that my emergency fund is somewhat in place, should I be focusing on maximising investments (e.g., increasing ISA or pension contributions)? • For major life events (wedding, house deposit, etc.), is it better to save separately in cash or draw down from investments when the time comes? • Anyone else been in a similar place in their early 20s and can share how things panned out over time?

Goals:

Long-term, I’d love to hit lean-FIRE in my 40s, maybe earlier if things go well. Right now it feels like I’m grinding through the setup phase, but I know this is when the habits and compounding start to kick in.

Would really appreciate any feedback or tips — this sub has been a huge motivator already, so thanks in advance 🙏

Cheers!