Recently HENRYd and no idea what to do.
The last few years I've found myself in a pretty good position, earning £150-200k a year. This looks likely to continue for a while. Just moved into a nicer house. Now wondering what I'm meant to do with the spare cash each year. I have no experience with investing, financial planning, ISAs, or anything like that.
If I wanna make this yearly windfall work best for me (i.e retire early with minimal overheads) what are the first things I should be doing?
- mid 40s. No kids and won't be having any.
- currently bringing in around 150-200k a year pre tax, all of which goes into a personal service company. I pay myself 50k salary/dividend, which is plenty. For a few years now the rest has built up to help with the house purchase/move. Now that's done.
- £250k left on mortgage
- no other loans. No fancy saving account. No ISA
- I have a SIPP pension with £30k in it.