I work with a large global defence company.
Would like to retire in my (very early) 60's....we'll see!
For simplicity of comparison, the dollar ($) net worth values shown in my page are simply UK pounds (£) x2.
Why I joined NetworthIQ:
To see where I am going wrong (and on occasions right) and avoid 'if only' moments / regrets in 2025 when I hope to retire.
And hopefully link with interesting and like minded people along the way.
Best Financial Decision:
TWO best decisions:
1. Buying a house in 1987 ($65k with a $60k loan).
25 years and two moves later, I've a $970k home with a small mortgage...which I aim to have paid off by summer 2013. (Noted though that the property value peaked at c$1050k in 2007).
2. Joining my employer's pension scheme.
My employer is one of the few still running a scheme where the pension is a % of final salary (averaged over the last 3 years at time of retirement)...so not impacted by the ups & downs of the stockmarket.
Worst Financial Decision:
Kids...not really of course!
Current Financial Strategy:
Pay off mortgage, get two daughters through University (2019) then save as much as we can before retirement .
My wife and I will TRY to use our maximum ISA saving allowances each year (c$23k - sheltered from UK tax).
How I manage my money:
I do an excel 'Net Worth' update at home each month and now upload results each month to this site.
I have separate tabs for ISAs,share portfolio etc.
Tools I use:
Excel and brain.....and ears & eyes! Thinking also about doing a (UK)Personal Finance distance learning course.
I need help with:
Long term planning (Pension vs ISA).
Favorite Financial Personalities:
'Rich Dad, Poor Dad' and 'Who Stole my Cheese' - Helps see life (family, work & financial) from a more balanced perspective.
John Grisham and Bill Bryson are my fave authors
The Godfather, Skyfall, Casino Royale and Beautiful Mind