Anxiety re FI and that RE is unlikely
UK 56M, I have worked abroad for the last 8 years and plan to work as long as my body allows, but at least up until UK state pension age, mainly because I had kids later in life (they're going to Uni over the next few years) and I don't want them to end up with huge debts. I am massively anxious about not having enough money to retire, on the face of it I should be fine, I have GBP200k in a UK SIPP, another GBP200k in various other investments, a house in central London worth circa GBP1.1m (200k left on the mortgage) and an inheritance that will be in the GBP5-600k range when it comes. In my 20s and 30s I did an OK job of saving, but after marrying a spender who wasn't able to hold down a regular job for long, 2 kids, life etc I didn't really save through my 40s which I obviously regret now. I know I'm fortunate and will probably have more than the great majority. I did think that by this stage in my life I'd have fewer worries and more of a safety net, which I guess is the source of the anxiety. My retirement plan is to be abroad, I've been outside the UK for nearly a decade now and I can't see my self returning. I'd rent out the London house for extra passive income (probably GBP3500 pcm), but that anxiety about money, still needing to work to support my wife and kids, constantly worried that at my age I may become unemployable etc etc. How may of you have experienced that same feeling in the ramp to retirement? As I read this back I do realise that these are somewhat 1st world problems, I'm currently very well paid (GBP200k equivalent) and trying to save as much as possible but those worries remain. The extra wrinkle is that since covid, I have been working abroad, while my family stay in the UK (long story), so I'm running 2 households, my abroad household is very cheap GBP2k as I treat it like a dorm, my UK household is expensive GBP5500 pcm with mortgage overpayment. Us GenX people seemed to fall through the gaps of final salary pensions and the new UK workplace pensions, our investments took a beating in the early 2000s and I do see GenX as being the generation most anxious about retirement, so I guess I'm not the only one. And despite this it looks possible that I'd be looking at around 1m and a paid off house at 63ish? So why am I lying awake every night worrying!? Just wondering how many of you had similar experiences?