Anyone FIRE'd from the UK?

[sam]

Morning all,

As a British man I'm thirsty for some inspiration!

Has anyone or know of anyone who has fired from the UK?

Our higher tax system and lower incomes can but the brakes on a little, but I still think it's doable! So I'd love to hear from someone who has.

Sam

[twistedfirestarter]

I'm from the UK but am only at the start of my journey to FI.

It'd be great to hear more UK centric voices on here.

Tom

[Malasorte]

Have a look at these. They're both UK sites:
http://monevator.com/
http://simple-living-in-suffolk.co.uk/

[sam]

Thanks, I've come across Monevator a few times - great for investment advice. I'll take a look at simple living in Suffolk!

Sam

[cerat0n1a]

There's a few other UK bloggers who have "FIRE'd"

https://theescapeartist.me/
http://www.retirementinvestingtoday.com/

I've hit my FI target figure (in my mid-forties), but not intending to do the RE part for another year or two.

Salaries are lower, taxes are higher, but we don't have to worry about healthcare and our tax system is oddly skewed in a way that allows those living off income from ISAs, bank accounts, dividends, pensions etc. to pay very little income tax (and no national insurance...) I'd say the ludicrous property costs in much of England are as much of an obstacle as pay rates.

[sam]

Thanks, great point on the UK property prices.

Although if you're a property investor this can help with retirement!

Sam

[SpreadsheetMan]

Check out the blogroll links on the FIREStarter: http://thefirestarter.co.uk/

As cerat0n1a mentions we are not in bad shape for FIRE in the UK provided the high property cost is avoided or taken in to account.

[daverobev]

The UK is *insanely* good - look at your ISA room. If you can max that for a decade, you'll never pay tax again.

Healthcare is either free at point of use or very very cheap (inc vision/dental, unlike 'progressive' Canada). Stuff is, generally, cheap. The only thing that is expensive is housing, particularly in the South East.

There is a cap gains allowance, a dividend allowance... Lidl, Aldi, and they have made the other supermarkets bring down their prices. Everything except housing is good. Srs.