Just a quick update; I’ve managed to hit the ?20,000 ISA limit investment for 2018/2019 tax year! Huzzah! This beautiful box presented within the Vanguard Dashboard.
Given that the FIRE Lifestyle is still very new to me at my age and current stage, the satisfaction of achieving / hitting off some of these goals is truly fab, edging that bit closer to achieving the overall objective.
Of course, I’ve now updated my Goals page with a big fat [DONE] next to this goal and we’re now onto the next! Here’s the remainder of my goals for 2019;
- Achieve an average savings rate of?45% throughout the year. (shall be reviewing this in April whether I’ll need to raise this to 60%!)
- Achieve a dividend income of ?1000pa (to be re-invested of course!)
- Achieve ?1,500pa via side hustles (and to learn the ways / methods ? I started in 2019)
- Purchase a ?50,000 flat under a BTL agreement
- Purchase my recommended stocks based on diverse, buy and hold strategy.
Onwards and upwards they say! However, before I shoot, you may be asking what about 2019/2020 goals ISA limit? I’ve added that to the bottom of the list of my goals page. I probably should’ve added this goal to 2020 or added the goal I’ve just ticked off to 2018 targets, but I don’t think it matters (it’s an achievement none the less!).
Cheers,
Congrats Jase, nice going!
I’m going to be nowhere near maxing mine, have only done it once and it was ?15k back then.
Perhaps I’ll make it a mission of mine to hit it for this coming tax year…
Thanks Weenie!
Great achievement on the ISA! After many years of putting money into my mortgage rather than an ISA I’ve turned to them in a big way over the last couple of years. It’s a great feeling to have your full allowance all locked safely away.
I’ve now got things set up so that it will drip in steadily throughout the year so that I don’t have to even think about it.
Best of luck with all of your other goals this year!
Thanks Caveman!
That did cross my mind in regards to paying off the mortgage instead of an ISA when I first started this journey. With the potential of interest rates rising, this may be better choice!
I have heard on the news that there are now a few ISA ‘millionaires’ now since it’s inception back in 1999!
Congrats Jase! Like Weenie, I’ve only managed it once, and that was because I was returning to the UK after working abroad for two years. I couldn’t contribute to an ISA whilst I wasn’t a UK resident, so when I got back I filled it up immediately with savings!
Cheers Dr FIRE!
Ahh – I did not know that you couldn’t contribute to an ISA if you aren’t a UK resident! In which country did you work abroad in?