Savings Report #42 – Lean-FI Goal Reached!

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Go to How To Track Your Savings to check out the Saving Ninja Super Spreadsheet.

I’ve made it to my initial financial independence goal of £300k net worth! This has taken me around 4 years of saving, with the last 42 months being tracked on this blog. This should, on paper, cover my current expenses indefinitely, although the sequence of returns risk would be huge due to having a lot of my net worth locked away in my pension.

I’d need to make sure that my pension bridge didn’t run out before I could access my pension. I would, however, be really comfortable ‘barista FIRE’ing’ and working / earning some income from my hobbies such as writing. It’s a nice feeling to think that if anything ever happened to my main job, or if I became burnt out, I’d be able to support myself switching to a part-time, or hobby-style employment – which is what a lot of young FIRE seekers are trying to achieve!

I’m in the fortunate position that I love my job. So this ‘lean-FI’ figure is just the beginning. I need to double this to have enough for Mrs SavingNinja to FIRE too, more than that is then needed to account for us potentially increasing our spending above £12k. I think £1m is a nice goal for our family.

£1m according to my calculators with my current savings rate would take another 10 years, ouch. I’d like to start trying to transition into a post-FIRE life sooner instead of deferring until a figure is reached, this should be doable now that I’m working remotely. We just need to decide which country we want to settle in!

Trying to decide what our post-FIRE life will be, and starting to live it, is a better goal than a monetary one now that I’ve reached a considerable amount invested. At least now I won’t be worried about my family missing out on any huge gains – just like the 16% gains from this year! I’m super glad that I invested aggressively pre-COVID as it meant that this year alone the interested earned has been around £33k. Without this growth, I wouldn’t have reached this £300k target so quickly.

Back in the UK

It’s strange how memories work. Your strongest memories are what persist from your past, remembering only the extremes of a person or place. The passing of time corrodes your memories into a patchwork of these extremes. 

This is the first time I’ve visited the UK since moving to Sweden in 2020. It seems that both myself and my wife have experienced this warping of memories during our visit. Our memories of what we missed from the UK were extremes, we were only remembering the good ones. In contrast, we didn’t realise what we love about Sweden until we came back to the UK. To name a few… 

The rugged nature of where we live in Sweden simply can’t be found in the UK, the type of nature where in just 5 minutes of walking outside of our house, we can get on a kayak, paddle to an island and camp for a night in an idyllic spot by the water and light a fire in complete, unowned and untouched nature.

The fact that everyone is quiet on public transport and in general public places in Sweden. As we arrived at Manchester Airport, the first thing we were met by were the plethora of security cameras on the station, and then a loud racket as a cockle of chavs drunkenly made their way up one of the platforms with an office chair and kicking about a traffic cone. Then when we got on the train we could barely think as two northern ladies were talking and cackling behind us across the aisle of the train. This would never happen in Sweden, and we’ve got used to it.

A person always has to be on guard, analysing each thought to see if it is truthful or a misrepresented truth. This trip back to the UK will definitely mean that when I return to Sweden, my eyes will be a little more open.

Happy New Year!


9 thoughts on “Savings Report #42 – Lean-FI Goal Reached!

  1. Congrats maaaan!! You were the ones who contributed to my decision to switching to global funds, I am glad I did.

    Funny you say UK looks loud to you, you’ve got to come to Spain then! If you manage to read a book/writing blog post without losing your nerves in Barcelona metro, I invite you to something cheap (a beer?) haha

  2. @Jase thank you! 🙂 It’s not actually felt as nice as I thought it would; I think it’s as I have a lot of other things on my mind and I always want to earn more (even more so now that I manage people who work in the US and I see they earn 4x as much.) I’ve learnt now that I won’t get much joy from hitting certain monetary targets, I need to find inner peace from other things instead. Back to Sweden on the 6th!

    @Tony Thanks 🙂 I’m glad that you’re glad. I remember commenting on yourself and Nick’s blog asking why no index funds? That’s all I ever knew from reading Mr Money Moustache and Reddit. I’d love to visit Barcelona!

  3. It can feel strangely underwhelming when you hit those goals that you may have been long chasing.

    Mortgage paid off, that’s nice now I can save / invest more.

    Net worth hits a defined amount – cool … but do I have enough, perhaps I need more.

    However, I’d rather hit my metrics and be underwhelmed than not have any plans in place. Hopefully some of the financial aspects are now looking after themselves and allowing you to focus on ther more pleasurable pursuits, but … we all love our spreadsheets.

    1. This is what I’m coming to the realization of… Goal hitting won’t give me some kind of pleasure. Happiness comes from other things, and I need to make sure I’m focusing on that too.

  4. Nice work on the goal hitting, onward march now as you say 🙂

    I can’t believe you’ve forgotten so quickly the lovely loud chavs that frequent our beautiful Island! For shame! 🙂

    You didn’t mention the good things about UK that you did miss and memory served you well… were there really none? >oD

    1. Ahaha, I thought the Swedish kids were annoying, but they’ve got nothing on the chavs in the UK.

      It was a strange visit overshadowed by COVID and morose parents thinking about old age in their COVID lock-down states. I really enjoyed the English pubs, and pies… God I love stake and ale pies, I hadn’t had one in 2 years. There’s not a single pub in Sweden as nice as any random local in the UK; they’re all grimy bars in the city centre, they have a weird view of alcohol here. We enjoyed being able to buy booze in any supermarket too.

  5. Congratulations, what a fantastic achievement made in such a short time! I understand that you’ve gotten there and it’s like, ‘now what?’. The next £300k? 🙂

    I guess you going on about the noise was similar to when I returned to the office for the first time after lockdown – after a year of working from home in complete silence (I don’t have music on in the background), I found the office noisy and difficult to concentrate in, although of course it was really nice to see people again!

    If you were on the tram, I could have been one of those northern ladies cackling loudly!

    1. It was the train to Preston, not the tram next door – those cone-kicking chavs were getting on the tram to the centre though 😉

      It’s strange what you get used to and then forget. We’re all just on autopilot barely having any input or control into our own idioms and things that we think are core beliefs may really have been programmed subconsciously. Like this annoyance of people talking on a train!

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