[1]I intend to make my first investment through a SIPP before end of the FY to keep my taxable income under £50k so I can keep all my Child Benefit.
[2] My intent initially was to simply buy the lowest cost global tracker and figure out diversification for next year's contributions... I know, such a slacker... but in my defence sleep deprivation is not good for critical thinking!
[3] Now, with the drop in value of the pound in s global sense I wonder if I need to change this approach? Please help, I can't figure this out right now...
[1] Good stuff
[2] Great, do this and go for a nap.
[3] No, you do not. You need to read the business pages less and sleep more.
I honestly have no idea when we can retire as yet as need to track 2017 for a better handle on what we're spending. There was so much cash withdrawn in 2016 that my attempt to review last year's spending was a bit unenlightening.
Although I do know we spent over £13k on childcare last year and it's a while til Littlest will go to school. I intend to do a case study once I've got January's spending details so that'll be interesting...
In the nicest possible way, was ANY of this cash put back into a savings account or investment account or in a mattress? If not, the money was spent. If yes then there will be records of the deposit or lumps in the mattress. If you have regular cash spending that you can identify, make an estimate and put that into your records.
The first thing to understand is how much was spent vs saved. It would be good to know where it was spent, but knowing how much was spent is a Very Good Start. I categorise all my cash spending that I can't remember as Non-essential Crap. This motivates me to either remember what I spent it on or not spend cash. Let's be fair, most of my cash goes behind a bar.
Please post the case study!