This post has been de-listed
It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.
I've had a few things work out well for me this year, so I'm going to take a career break in 2022 (hopefully post-virus!) and spend a year or so adventuring. I was hoping the sub could trouble-shoot my financial prep and provide any guidance.
Background:
- 34m work in IT
- Selling house to move into rental
- Being made redundant in November
- Savings (post house sale) ~£100K
Plans
- Prior to November start saving more effectively
- Trim down belongings via sale or tip to generate a handful of £'s
- Start of 2022 put my belongings into storage and cancel the rental (if I can't blag space in someone's garage...)
- Either sell my car or pass on to a partner temporarily to care for
Budget Plans (2022)
- Keeping up personal pension payments (£10,600)
- NI contributions (£780)
- Regular ISA savings (£3,000)
- Storage costs (£1,500)
- Adventure costs including living expenses (£20,000)
This will net would my savings to around £65K coming back from my break, though obviously the pension and savings part (£13,600) will not be 'spent'. A few direct questions to y'all
- This £65K - what's the best place for it? I don't have much experience with this amount of cash so a safe place for it would be useful. Once I get back it will be a cushion to land on and in the long term part of a deposit if I decide to home own again
- Is it smart to keep up my personal pension payments?
Cheers!
NB: I can't rent my house out and need to sell for personal reasons.
NBNB: If it looks like 2022 will not be a good year to take the break I should have a nice long time to see it coming, as I don't leave my job until Nov.
Subreddit
Post Details
- Posted
- 3 years ago
- Reddit URL
- View post on reddit.com
- External URL
- reddit.com/r/UKPersonalF...