Hi everyone.
Having lived and worked abroad for a number of years, I am planning to move back to my country of citizenship (UK) at some point in the next 6 months. While the default option would be to move to London where the work is and continue my career as normal, I am assessing how realistic it may be to skip all that and simply FIRE.
Some brief details on me:
- Age 35, married with one child aged 2 (possible another coming in a year or two)
- Assume liquid net worth 700k-900k GBP (actually quite variable, depending on a number of factors that are TBC including payouts from my current employer, material tax rebates from country I'm leaving etc).
- Currently no property or mortgage
- London based salary would be circa 70-90k GBP annually, though unsure whether I would be able to get a job in non London locations
- Wife currently does not work but could probably get a salary of 20-40k GBP should she restart in the next few years
My broad question is - is there anywhere in the UK where it may possible to FIRE for a family of three on roughly the level of assets I describe above? Our exact budget is TBC but we are comfortable living what most would consider a modest life (ie, no need for huge house, don't buy many consumer products, don't spend much on entertainment/drinking etc).
I think it may be challenging in London due to rent/mortgage expenses, but are there any locations which would be enjoyable to live in (access to nature, decent schools, welcoming community etc) where it may be feasible? I could of course go halfway and work contract for 4-6 months of the year to supplement my income while still freeing up my time significantly, though unfortunately these options would be in far greater supply in London than in the rest of the UK so unsure whether realistic. I have lived either abroad and in London my whole life and I really haven't experienced most of the UK, which is making searching for suitable locations to investigate the feasibility of FIRE more challenging.
Appreciate that is a very broad query. Would be very thankful for any tips or ideas on places to start researching UK specific retirement ideas, especially the most suitable locations for this sort of lifestyle (most of what I read here and elsewhere is very US focused).
Thanks!