It's now two full years since the implementation of my '...Grand Plan...' (for an explanation and last year's end-March review, see this link), and the latest annual results are in ....
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| SAVINGS POT 31-Mar-15 |
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| SIPP POT 31-Mar-15 |
So, it was a very good year for both the savings and SIPP pots. At this two-year staging post of the process, I've already passed the third-year targets for each pot, so it seems we're well ahead. As the old golf professionals used to say, "... it's never too early in the game to start winning ...".
The savings pot was significantly boosted by the eventual sale of our second house last June, and last year my company also started to make significant employer's contributions to the SIPP - see blog posts passim.
I'm now a lot more relaxed about the future financial situation than just a few years ago. However, shit happens and so constant vigilance and additional savings are still required for the coming years...
Nice progress.If you keep that up for the next couple of years you should get a good jump start top the wonders of compounding.
ReplyDeleteHi. Compounding is a help of course, and very welcome, but I don't think it's such a significant issue over a relatively short timescale. You can see that the rising curves of the target lines, which represent the compounding, are quite shallow.
DeleteKeeping the savings rate up will be the key....