FINANCIAL INDEPENDENCE UK: My plan for early retirement | Financial Freedom Journey

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Hi, here's a short video about my Financial Independence goal and how I imagine my Early Retirement. Enjoy!
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ABOUT ME:
I’m Marta - a designer living in London, originally hailing from Poland. I’ve always been interested in psychology and behavioural economics. A few years back I seriously got into financial education and have been hooked on expanding it ever since.
I started this channel as more and more people ask me for motivational and financial advice. I like to keep things simple and my videos are about the power of habits, saving, investing, successful mindset and minimal fuss personal finance.
Find me on Instagram: honeysmakingmoney
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DISCLAIMER:
I am NOT a Financial Adviser and do NOT offer Financial Advice. I create videos for educational purposes only.
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ABOUT THIS VIDEO:
Financial Independence UK, Early Retirement UK, London Early Retirement, My stash number, My enough number, Finance, Money, How I see my retirement, Journey to Financial Freedom, Financial goals, Long-term goals, Vision, All The Honeys
#EarlyRetirementUK #FinancialIndependence #FIREUK #FinancialGoals

Опубликовано:

10 сен 2020

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Комментарии : 78

@Marta-Lis 3 года назад

What is your enough? And what will you do when you retire?

@FinanceDee 3 года назад

I really like this idea of having 2 FI goals. Imagining having 4 days per week of freedom (no work) where you can do whatever it is you want is my enough.

@Marta-Lis 3 года назад

Glad you like it. I like your enough a lot, wouldn't mind such an arrangement in the least. Thanks for watching!

@WagnerSaucedo 3 года назад

Love your story telling! Financial independence Is something that we're all trying to reach. Just subbed and I look forward to supporting your channel along the way my friend 👍

@Marta-Lis 3 года назад

Thanks, Wagner! Yes, we're on the same journey, fun fun fun! :)

@TheMoneyPlantChannel 3 года назад

Hi, thanks for sharing your plan. It provides so much more clarity when you have a number to aim for! I have gone for a coast FI route, so have started reducing my hours now at work and focusing more on passionate projects and living life! Looking forward to following your journey!

@Marta-Lis 3 года назад

Thank you for watching. Yes, it does, removes a lot of muddy water;) Your plan sounds very similar to mine but already taking place - fantastic!

@mavutivepersonalfinancelif5326 3 года назад

Very good question! I have been thinking about that for a very long time.

@Marta-Lis 3 года назад

Glad you found it useful.

@RetirementTravelers 3 года назад

Just found your channel and think it is great!! We retired last year and plan on traveling the world for the next 20 years. We started in the US last year in an Airstream due to Covid. Keep up the great content. John and Bev

@Marta-Lis 3 года назад

Thanks John and Bev! Sounds great! Enjoy your adventures!!!

@billybasu3900 3 года назад

Nice honest video.Wish you the best in your journey.

@Marta-Lis 3 года назад

Thank you so much 🙂

@cb7560 3 года назад

Thank you for an excellent video. You are a really engaging presenter, with some great advice. I've subscribed!

@Marta-Lis 3 года назад

Thank you for all the kind words and subscribing! All appreciated:)

@ellaestaterealty 3 года назад

Your story telling is really captivating. Great intro and info!! Like #32. Thank you for sharing your insight and goals to inspire the rest of us. Subbed!

@Marta-Lis 3 года назад

Thank you for watching and your kind words.

@pandabossanna 3 года назад

I can totally relate to being bored on beach only holidays with nothing to do haha! I agree so much everything you've said, I can really see why you said we are on similar journeys :)

@Marta-Lis 3 года назад

Haha, no all inclusive beach resorts for either of us. Yes, fun to watch yours and compare the notes!!!

@beckylee3356 3 года назад

Loved your thoughts and insights in what FIRE means to you and your description of your typical day in retirement - sounds heavenly and very inspiring! I always say the pleasures from life come from the simple every day things :)

@Marta-Lis 3 года назад

Thank you, glad you liked it. You always say the right thing then;) The best stuff is quite simple really, isn't it? Are you hoping to retire early? What's your dream day like?

@beckylee3356 3 года назад

@@Marta-Lis Haha .. I just love living a life of freedom, peace and loving as many things and people that come across my life everyday ... simple things :) Yes I will retire early :) I only discovered the FIRE movement and the stock market in April last year so I was late into the game ( but I already practiced a lot of the principles naturally anyway) but it really set off a lightbulb moment for me! I dont have all my plans set in stone yet but working my way nicely and gradually - I reduced my working hours to 3 and half days a week at the end of last year and building up a very nice stocks/ index funds portfolio ( after deciding to invest in the stock market instead of another buy to let property). My dream day is to wake doing what ever I feel like for that day, where I like and with whomever I like! ( I got that from Tony Robbins but it's always stuck with me :) Look forward to seeing more of your inspiring videos in 2021 and have a great weekend!

@Marta-Lis 3 года назад

That sounds like a very, very considered and consequently executed plan! Simple things are all that matters ;) Thank you, Becky!

@empoweredpersonalgrowthboo3787 3 года назад

I like the way you have broken down the numbers; so important not to impact your capital. On the other note, FI isn't about being completely passive. Life without some stimulation is boring. I like your idea of FI/ retirement; that's very much in line with what I hope to achieve one day! Love your work, and will hit the LIKE button to support the exposure.

@Marta-Lis 3 года назад

Thank you for all the support, you already know I'm a fan of your channel:) Exactly! Life needs some action, not just passive this, passive that;)

@jacek_dzieciolowski 2 года назад

I liked how you compared retiring early without a plan to an all inclusive holiday in Tunisia.

@Marta-Lis 2 года назад

Hahaha. That was such a terrible holiday... Thanks for watching, Jacek!

@SkilfulLeader1 3 года назад

Hey there, still checking through some of your uploads, purely out of the hunger for knowledge! So nice to hear you have a solid plan as so many just live day to day without the realisation of what they want to achieve. Not saying its possible for everyone because circumstance plays a big part. I am now trying very hard to passively invest in attempt to recover some lost ground and wondered what sort of timescale of saving an investing have given yourself as a target to reach your goal (dream).

@Marta-Lis 3 года назад

Hey, hey. Hunger for the win!:) I made my first ever visual vision board last week - that was fun! Have you ever done one? It really, really helps with motivation and discipline I must say. Agreed, circumstances and luck play a huge part - we often don't want to admit that but they do. It's great that you're investing and keep going - resilience! 💪 More and more viewers ask me about timescales... I have pretty vague ones because I want to focus on NOW. But it looks like I will need to make a video in which I share my plan with those timescales, too. Maybe with my next FI Update or sooner - we'll see. But will keep you posted:) Thanks for watching!

@MariaSantos-rv5kh 3 года назад

Hi Marta just found your channel...I'm a SLIWK...see if you can guess. Also trying to reach FI in 10 years so I'm guessing your videos will be watched many times. Thanks for the content 😊

@Marta-Lis 3 года назад

Hi Maria, thanks for finding my channel. OK, I googled many times... a SLIWK? A "sliwka" means a plum in Polish but I doubt that's the meaning. What is it? You got me curious! Yay your financial independence plan! High five, we're on the same journey! Thanks for watching 🙂

@shirlieleung2420 3 года назад

This sounds amazing. I have a question about the early retirement plan with investing passively and actively, the process makes sense to me, but I'm curious as to when the time comes to withdraw that money is it as easy as it sounds? I mean, it's all good creating this plan expecting the full pot of money to be accessible when you need it (at age 65 for instance), but are there any bumps in the process at the latter stage that might be good to be aware of ahead of starting the investment journey?

@Marta-Lis 3 года назад

You mean - how tax-efficient is it to withdraw this money? Anything in an ISA is tax-free. You can withdraw it without any tax consequences, it's not treated as income - you take it and run hahaha, no questions asked. Anything in a SIPP is more tricky as it's essentially a pension plan. And pensions are treated as income and so are taxed on withdrawal. There are some tax reliefs. You can withdraw a lump sum - currently the first 25% of the total amount - tax-free. And then, half a year later, you can start withdrawing the remaining 75% but it will be taxed. I'm not going into details on how you can withdraw this remaining 75% as it's not that relevant here. The point is - once you reach the withdrawal stage, you have options and can be smart about how to arrange your money so that it lasts and pays for your living expenses. For example - fun fact: dividends are treated as a part of your Personal Allowance (that first chunk of money of your wages that is tax-free). You could potentially invest that 25% of your pension in index funds and get them to generate you a nice, tax-free income. So these would be the things to be aware of when starting the journey to an early retirement. Hope this makes sense, Shirlie. Thanks for watching!

@fiveplates 2 года назад

My journey is I wish I had found the 8th wonder of the world (compound interest) when I first started working. I've made some dumb mistakes like not investing sooner, getting a graduate loan at 8% back in the 90s, leaving my mortgage on the standard variable rate for a year etc. I have been pretty frugal though, no car loans (21 year old car), SIM only phone contracts, no luxury brands and adopting some minimalism in my life. I plan to retire between 55 - 58 years old (7 - 10 years time). Currently adopting a very similar strategy to you Marta, any spare income is pretty much invested in ETFs / ISAs and playing the long game. I do check my investments almost daily and I need to stop doing this and be patient. Great content though, keep it up.

@Marta-Lis 2 года назад

Thank you for watching and the kind words - I appreciate it all. You know what - sounds like you did better than most people anyway, despite the mistakes! 55-58 years for full-on retirement is not bad at all! About checking the investments - I check mine almost daily too. I think it helps getting used to corrections. Not all people would agree but I think facing fears head-on works better than hiding;)

@jj-bu6yb 3 года назад

thansks a lot! I started thinking about my enough number. have you read the book : the simple path of wealth?

@Marta-Lis 3 года назад

Thanks for watching, JJ. Hope your number is lower than you thought;) No, haven't read that one yet - on my ever-growing to read list. But reading The Path at the moment so getting closer, at least in the title lol.

@Life__Peace 3 года назад

Good to hear your thoughts. It’s my kind of thinking. But I can’t run with a dodgy back so a walk in the park for me and I used to love the parks in the U.K. Now the question If you sell the house you’d be mortgage free but won’t you need to be on rent? And what kind of drawings you are planning with both targets to cover life expenses? Ta

@Marta-Lis 3 года назад

Thanks for watching. Glad you enjoyed it. Used to? Where are you based now? If I sold the house, it would have appreciated in value enough for me to buy a similar size one further out / in a different location so no rent in that case. With the first target - it's enough for me to draw £1k per month (my mortgage is currently £1059 per month). But, as I mention, I'd still work so I doubt I'd even draw anything for a while or until I reached the second target. With the second target - £2k per month would cover all my monthly expenses including my mortgage. Both doable with some discipline, time and luck ;)

@Life__Peace 3 года назад

@@Marta-Lis thanks for the reply. We moved to Australia last year. Here it’s more about the beaches and hills than the parks (mind the wildlife which is mostly scary and dangerous). Re the money it’s mostly the same in terms of numbers. Would be good to see how many years might it take to hit the targets and how much goes into investing every month. I think it might be 10yrs for me. Ta

@Marta-Lis 3 года назад

@@Life__Peace Oh wow, that's quite a move! A friend of mine is travelling around Australia at the moment. Apparently it's not as full of lockdowns as the UK so guessing you must be very pleased that you moved at the right time. Beaches and hills sound good to me. Dangerous lifestyle less so 😉About the goals: I specifically didn't set myself a deadline. It shouldn't take longer than 10 years (and hope for less than that) but really want to focus on the journey, not the end goal. But it's a good question and will explore it in the next FI update. I invest as much as I can, minimum £1k per month at the moment. Hope your 10 years will also shrink and you will be financially free sooner than that.

@stephanieg9477 3 года назад

Hi Marta I’ve just found you’re channel and am so enjoying all you’re videos. I’m learning so much thank you! The only down side is the more I try and learn re investing (I currently don’t, I save and overpaying my mortgage) I get more anxious that I’ve not started as have no retirement (35 yrs old) self employed and don’t want to invest and not be able to take it out until I’m old 😬the fear of doing it wrong means I do no investing 🙁 as complete beginner do you think I should try doing a vanguard life strategy isa ? Can I rely on investing in this for retirement funds (if I invest enough!) or it has to be a pension? Many thanks in advance if you’re able to point me in right direction have a nice day, Steph : )

@Marta-Lis 3 года назад

Hi Stephanie, thank you for your kind words, really pleased to hear that you find my videos useful. First things first - don't panic, panic never helps:) The only real benefit of investing in a SIPP is the government top up. So if your priority is to have access to the money - go for a S&S ISA, just like you said. Also, you can actually invest in a Retirement Fund within the ISA (when choosing funds, you will see them on the list). So if you're not sure about LS for example, you could pick a Retirement Fund and have the re-balancing done by Vanguard as years go by. Will this be enough for you to retire on? Don't know your situation, goals and how much you might withdraw before you retire so it's hard for me to tell. But your maximum contribution is £20k per year, so that's your limit. Drop your numbers into the compound interest calculator, add the assumed growth, the contributions you're planning to make monthly and see how much you will get in say... 20 years: www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php If you max out your ISA every year and don't touch it... I'd say you'll be fine. Hope this helps!

@stephanieg9477 3 года назад

@@Marta-Lis Hi Marta thanks so much for you’re reply this really helped me, I’ve been watching lots of videos trying to learn more about personal finance and it’s brilliant videos and advise have finally inspired me to bite the bullet and start! I’m going to start a vanguard s&s isa target retirement fund as I’m not confident to do any readjusting myself..in future I hope to be able to, if so can I easily swap to the life strategy or I’m stuck with my initial choice? Lastly re paying off my mortgage as I think we’ll only be here a few more years do you advise I shouldn’t focus as much on overpaying as much? I’m keen to start my investing now so will try do both.. any advise on this if you had a spare moment would be So much appreciated thanks so much Marta! 😊🙏🏻

@Marta-Lis 3 года назад

@@stephanieg9477 Yes, you can switch to another fund at anytime so you won't be stuck with something you don't want. About your mortgage - reading your comment, it looks like you already know what to do. If your interest rate is low, do exactly that - do both. Use a mortgage overpayment calculator to figure out the best amount to overpay and put the rest in your investment pot. Done!:) Super glad to hear you're learning and taking action. Stephanie. Great job!

@stephanieg9477 3 года назад

@@Marta-Lis thanks so much for you’re help I’m learning so much from you and you’re fantastic videos 🌟

@JoyceLuna 2 года назад

My enough is having time to workout, read books, meditate, time with family and friends and a day where I can just work on improving on something new. Seems a lot 🤣

@Marta-Lis 2 года назад

I could easily be happy with your enough. Joyce. A list of my favourite things!!! Well, seems a lot for now, let's give it time;) Thanks for watching!

@Marta-Lis 2 года назад

I could easily be happy with your enough. Joyce. A list of my favourite things!!! Well, seems a lot for now, let's give it time;) Thanks for watching!

@JoyceLuna 2 года назад

@@Marta-Lis aww appreciate your reply! You and your journey are inspiring 😍

@alvarob2443 3 года назад

Im in the same journey, but i am so behind, now struggling to save for a deposit .. but houses here in lonodn are too expensive

@Marta-Lis 3 года назад

Ah, cool! There is no "so behind" once you stop comparing yourself to others. Compare yourself to you from yesterday and keep going 😉 Struggling to save or saving? The latter - I hope! You can buy a bit far out first, that way it becomes much more doable (that's what I did with my ex-partner). Then either stay there or sell, once it appreciates in value, and buy somewhere else. Thanks for watching!

@Lord_Saruman 3 года назад

Hey Marta! have you thought about retiring in Spain or Portugal? Wonderful towns with affordable housing, community spirit, awesome food and culture ... I'm biased btw :-)

@Marta-Lis 3 года назад

Hey Fernando! I have but I'm not great with either - terrible with hot weather... Hahaha, like that you're biased;) Thanks for watching!

@Lord_Saruman 3 года назад

@@Marta-Lis I actually don't like hot weather either, you may enjoy Asturias, Cantabria or the Basque country in Northern Spain :-)

@Marta-Lis 3 года назад

@@Lord_Saruman I had a feeling you'd mention Northern Spain! These places do look beautiful but I suspect I'd be bored after maximum 3 months. You never know, I might be wrong and would need to try but for now - cities are my preferred places.

@fedeciz9650 3 года назад

Very cool video,just found your channel,very inspiring!!I am in London too and just bought a small flat,really scary ahahah!! I have a question if you can answer,I am not asking financial advises ,just trying to understand some things!!! I am studying the best way to invest long term and compaunding,so I was looking some vanguard etf accumulating and I know this broker called De Giro that offers commission free on some etf,what is the better ways to start,I don' t know the Vanguard website,is like a broker as well?Thank you for your time

@Marta-Lis 2 года назад

Federico, for whatever reason, RU-vid only just showed me your comment. Five months later! I'm super curious if you started investing and which platform you chose. Did you go for DeGiro? So sorry for my late reply!

@fedeciz9650 2 года назад

@@Marta-Lis thanks for reply, yes at the end I chose De Giro and starting to invest in the vanguard VWCE! I hope I did the right choice!!

@Marta-Lis 2 года назад

@@fedeciz9650 Great! The main thing is - you started and you continued 🙌 One global fund - nice and simple. DeGiro is on my list of platforms to check out, heard only good things to be honest:)

@fedeciz9650 2 года назад

@@Marta-Lis cool, thank you!!

@cesarcolli1042 2 года назад

I was thinking you was Russian! Great thinking. But Polish are the only one kick the bud of the Russian 😅.I am at Mexican living in Canada and thinking to invest in stocks and ETF. So in the way to have a passive income to 20 years invest I am thinking to invest in the education savings of my almost 1 year old Son on ETF around 3000 Cad . The ETF are XEI, VRE ,VDY,XIC,ZAG .TO ALL OF THEM. I want to see how the ETF works for the savings of my kid for the first year. I was thinking diversified In some stocks in Canada looks ok now in the market in canada any toughs about my thinking?? Do you think ETF are a borrrinng investment but secure the stocks?? Feliz navidad and you pronounce Valencia really well. You probably speak some Spanish!! Blessings!!

@Marta-Lis 2 года назад

Russia is close enough to Poland to make that assumption;) I definitely prefer ETFs over individual stocks. They just let you focus on other things than investing. So go for it! Invest in those. Belated Feliz Navidad to you, Cesar! Hope your year started well and will continue to be this way throughout! Thanks for watching and your kind words (I do speak un poco Spanish;).

@garythornbury9793 3 года назад

you are rich when you no longer have to work and the money keeps coming in, i learned this from Kieth Hall in long Eaton UK, the only reason to have a job is to get the money to invest, today I'm living this if i can do it anyone can. you are totally right about this and will achieve it.

@Marta-Lis 3 года назад

I had to google Keith Hall to find out who you meant. Yes, jobs can be more or less meaningful but I don't believe real satisfaction can be found there. I like reading about your current life on your terms, Gary. Thank you for encouraging me (and watching)!

@garythornbury9793 3 года назад

KEITH WAS A GOOD MAN AND I LEARNED ALOT FROM HIM.IF I CAN DO THIS ANYONE CAN@@Marta-Lis

@mohamedgoldstein5565 3 года назад

I have my enough. Sadly my wife does not think I have enough.

@Marta-Lis 3 года назад

That's great and that's not so great. Hope she changes her mind pretty soon! Thanks for watching.

@compounder3850 3 года назад

My "small" enough is 500k € in my portfolio of single stocks and ETFs. My "big" at least 1 million €.

@Marta-Lis 3 года назад

You like round numbers;) Good numbers, all doable. Hope you reach both sooner than you think. Thanks for watching!

@compounder3850 3 года назад

@@Marta-Lis Thanks, my portfolio has already reached 300k € this month and I own two apartments for rent but I prefer the stock market. It feels much more passive and its easier to scale. I don't know exactly the value of the apartments but I guess that I am more close to the million. 😉

@Marta-Lis 3 года назад

@@compounder3850 One huge WOOOOHOOOO for your €300k this month!!!! And together with the flats... you're pretty much there! Boom! I get you, gave up on the idea of having a Buy To Let as, like you said, the stock market feels more passive. Might change my mind one day, who knows.

@compounder3850 3 года назад

@@Marta-Lis Thank you! It feels very well and give some financial safety. And I see the acceleration of the portfolio is growing. To go from 200k to 300k in less than 2 years (no fancy stocks, the most are solid boring stocks). And also more diversification through the flats. I am excited to see how it moves on in the next ten years and I hope for a stock market correction soon for buying some more of my core positions.

@Marta-Lis 3 года назад

@@compounder3850 100k in two years - now that is exciting enough hahahaha! Corrections happen regularly so you will have your chance soon (as I'm sure you know!). So cool that you're having the solid boring approach and see the results - I'm following in your steps;)