We’ve got over 140 members already, which is absolutely crazy considering this little subreddit only started a couple of days ago!

But I don’t want this to become a place where I do all the talking (although I’m perfectly capable of that 😂).

So please, feel free to start your own posts!

Wondering whether you’ve got enough to retire? Trying to work out when you can escape the daily grind? Already retired and wondering what to do with yourself? Or just fancy sharing something that’s worked for you?

You don’t need to have all your ducks in a row to post here. Half the fun is figuring things out together.

And if you’ve got a question you think is too daft to ask, there’s a very good chance somebody else is wondering exactly the same thing.

Come on in, make yourselves at home in r/CHEAPFIRE ! 🔥

Hello all

New here, as we all are. Similar to everyone else, a bit disillusioned with my own position when looking on other FIRE subs at everyone with millions sloshing about.

Me, 51, still working, on £53k. Wife, 49, no longer working due to ill health. 2 teenage kids. I'd like to RE, but not sure how much i need. I have a good forecast sheet i've evolved from this one www.fireplanner.uk, but my main issue is i'm not entirely sure how much i need to live on going forward. For now, i've assumed we want the same level of income as now, which assuming 3% growth look ok for me to go in the next 2 or 3 years

In a bit of a different situation than most, pretty light on the pension front, but have been fortunate enough to end up with a 50% share of 3 rental properties, which i've always considered to be my retirement fund. In the process of selling up, 1 gone a couple of months ago, 2 to go, was going to wait until April for the others when CGT allowances renew, but rumours of changes in the budget next week might accelerate that.

In the process of getting the funds from the first sale squared away. Emergency fund filled, ISAs filled for this year. I'm maxing my work sal sacrifice all the way down to minimum wage. I'm putting my whole min wage salary into my SIPP. Will continue to do this for the next year or 2 or 3 until either most of the house money is squared away in ISAs and pensions, or i retire

Our Current position, another estimated £240k to come from remaining house sales after costs, CGT and BTL mortgage paid

• Outstanding personal mortgage £86k (thinking of paying this off in Feb when current 1.9% rate ends and will likely be 5% ish)
• Work Pension £96k (Blackrock all world ex UK)
• SIPPs £39k (Mostly VWRP)
• S&S ISAs £48k (Mostly VWRP)
• Premium Bonds £50k (my emergency fund for now, and will be my sequence of returns buffer in retirement)
• Savings £15k at 4.5% (my current slush fund to top up my monthly take home pay)
• GIA £9k (mostly VWRL), this is where the £240k will sit when it comes, while i divert it into ISAs & Pensions
• All in we should be just shy of £500k after the house sales
• Wife DB pension £2k/yr from 60
• Me DB pension £1.5k/yr from 65
• 2 full state pensions already maxed

We’re almost at 100 members already, so I thought it would be nice to get to know each other a little!

Where are you on your retirement journey? Already retired, hoping to go a little earlier, or still figuring out whether you can?

Tell us a little about yourself, where you are now and what you’re hoping for. Share as much or as little as you’re comfortable with.

And I’d really love to know what you want from CHEAPFIRE. What would make this a useful, interesting or just enjoyable place for you to hang out?

I’ll go first in the comments! 😊

This started yesterday when I posted over on FIREUK about retiring at 55 with around £500k in pensions and a £24k annual spending target.

https://www.reddit.com/r/FIREUK/comments/1x8eqh3/i_think_ive_accidentally_retired_at_55_here_are/

Someone commented that it was a “reality check”, because Reddit can sometimes make it look like retirement is unattainable without at least £1 million.

I jokingly replied:

“I’m r/CHEAPFIRE lol”

Then someone actually clicked it because they thought they’d “found their people”. 😂

So maybe there are a few of us.

I should probably explain what I mean by CHEAPFIRE before someone assumes we’re all sitting here sharing recipes for rice and beans. 😂

CHEAP is about being selective with how you spend your money.

I’ll happily rummage through the RTC aisle in Tesco for dinner, then spend a fiver on a Pumpkin Spice Latte with an extra shot because I bloody enjoy it. ☕️😂

It’s not about spending the least. It’s about knowing what you DON’T care about, so you’ve got money for the things you DO.

And the FIRE bit isn’t FIRE porn either.

I’m not 37 with £4 million, six Airbnbs and a spreadsheet asking whether I can finally afford to leave work. 😂

I’m 55. I’ve got around £500k in pensions. I still have a small mortgage. I reckon £24k a year gives me a perfectly decent life.

I don’t need millions.

I just need enough.

And that’s really what I want CHEAPFIRE to be about.

Those of us who might be able to retire a little bit early. Not necessarily at 35 or 40. Maybe it’s 50, 55, 60 or just a few years before State Pension age.

You’ve saved. You’ve been sensible. You haven’t got some enormous FIRE number to boast about.

But you’re starting to wonder:

Have I actually got enough already?

Because if you have…why are you still working purely to accumulate more?

No Millions? Still Wondering? Retire Anyway! 🔥

As the title says, I believe I'm playing catch-up. I have always paid into a workplace pension but mostly the minimum employee match during the early years (25-40). I have progressively increased things as I got older and I am now 53 (in Jan '27) and have the following setup.

£175k Scottish Widows SIPP invested 100% in HSBC FTSE All-World Index Acc. Currently contributing £500 per month

£56k Aegon workplace pension invested in BlackRock World Ex UK 80%

BlackRock Emerging Markets 16%

BlackRock UK Equity Tracker 4%

Current contribution is 27% salsac 5% employer. £66k salary salsac to bring me just below higher rate tax.

Building an ISA also with Scottish Widows which sits at £2,500 also invested 100% in the HSBC FTSE All-World Index Acc. Investing £500 per month.

Mortgage free. With no debt. I'm pushing contributions hard now trying to play catch-up. Wish I had done it years ago etc. Only really found out about salsac in last year. I have claimed back 3 years of additional tax relief from HMRC.

My industry is in a precarious position with AI having an increasingly negative impact in terms of junior roles and a lot of experienced roles being cut too. Lack of investment is also impacting as most tech investors are in AI. I'm not sure how much longer I have left in it. I could be facing retraining so the big contributions I am currently achieving might have to change.

So, how does it look? Better late than never I guess.