I’m trying to sanity-check a potential Coast/FIRE plan and would value input from this sub.
Context:
M36 (£330k), F36 (£60k)
2 kids (4 and 1)
£1.3m invested (SIPP/ISA/GIA, mostly ISA/GIA)
£40k cash, 55k RSU
£640k mortgage on ~£1m home (around 4%)
Monthly spend around £9k (incl. £3k mortgage, £1.5k childcare)
I’ve had a high-earning corporate career, but I’m increasingly burnt out and ready to step back. The current plan is to push for about 3 more years:
Pay down a meaningful chunk of the mortgage
Bridge until youngest starts school (childcare drops)
Reassess at my 40th in 2029
At that point, I’d likely leave full-time corporate. Not aiming for “never work again” more likely some mix of consulting/advisory/low-stress work.
Key questions:
Is stepping off the £300k+ income in 3 years realistic given this setup?
How would you think about Coast FIRE here vs full FIRE?
Mortgage vs investing. I understand the maths favours investing, but psychologically I’m drawn to reducing/eliminating the mortgage to lower baseline burn. Am I overvaluing that?
Also conscious this isn’t purely financial, we lost our eldest a few years ago, which has shifted how I think about time vs money.
Appreciate any perspectives, especially from those who’ve stepped back from high income roles with young families.