I am currently 45 and would like to retire in 10 years at 55 so I was wondering what people thought was the best thing to do to make that a reality?
I will give you where I am currently at with my finances and arrangements:
Age 45, Married, Father of 2 kids ages 9 & 11
Working full time with salary of €110k
Wife working part time with salary of €16k
Mortgage on Family home of €92k
Mortgage on overseas investment property of €100k, current rent from tenants mostly covers mortgage repayments
Current private pension of €225k
Wife current private pension of €100k
I am contributing 3% of my salary and my employer 6% into my pension
Wife contributing 6% of salary and employer 10% into her pension
Current Share holdings of €125k
Current shared Cash Holdings of €250k
Crypto holdings €10k
P2P Lending holdings €25k
No other loans or credit card debt and own both our cars outright.
Had previously invested in Insulation, Solar PV and EV cars for our home to protect against rising energy costs.
What do people think about retiring at 55 with the above in play?
Is there anything that I can do now to secure a good retirement standard over the next 10 years?
I will give you where I am currently at with my finances and arrangements:
Age 45, Married, Father of 2 kids ages 9 & 11
Working full time with salary of €110k
Wife working part time with salary of €16k
Mortgage on Family home of €92k
Mortgage on overseas investment property of €100k, current rent from tenants mostly covers mortgage repayments
Current private pension of €225k
Wife current private pension of €100k
I am contributing 3% of my salary and my employer 6% into my pension
Wife contributing 6% of salary and employer 10% into her pension
Current Share holdings of €125k
Current shared Cash Holdings of €250k
Crypto holdings €10k
P2P Lending holdings €25k
No other loans or credit card debt and own both our cars outright.
Had previously invested in Insulation, Solar PV and EV cars for our home to protect against rising energy costs.
What do people think about retiring at 55 with the above in play?
Is there anything that I can do now to secure a good retirement standard over the next 10 years?