The Journey of MrWhyFI

I left school after my A levels in 2010 to join an engineering apprenticeship at a nuclear power station. Four years later I completed that becoming a Maintenance Fitter with no debt and an okay salary.

In November 2016 it was confirmed. I had successfully applied to my dream job as an engineer with a payscale rising into the high five figures but starting somewhere in the middle. Fast forward two years, I was deeply depressed with my job so after some mental turmoil over what I was about to do I made the decision to ask for demotion or I would kindly hand in my resignation.

Luckily the company dealt with it amazingly and, although I still face a funny sort of stigma in my new role, it was a great decision as I did land in my dream job after all.

After listening to my friend talk about how no one understood his job as a financial analyst in the London, UK services sector I curiously bought “The Intelligent Investor” by Benjamin Graham and “The Essays of Warren Buffet. These books set me on a new path of discovering as much as I could about the world of investing.

In March 2018, after reading the investing guide on moneysavingexpert.co.uk I opened my first Stocks and Shares ISA with Charles Stanley Direct. They were recommended as the cheapest available platform on the guide and over the course of 18 months my investments increased £700 starting with just £500 and monthly investing of £200-£300. Unfortunately Charles Stanley Direct increased their platform fee of 0.25% to 0.35%.

At the same time as this was going on I discovered the Financial Independence Retire Early or FIRE community. Having listened to numerous podcasts one name kept coming up. Vanguard. Doing a bit of digging revealed Vanguard was setup by a guy who wanted to pool other investors together by creating “mutual funds” whilst keeping fees low at 0.15%.

As Charles Stanley Direct put their fees up I toyed with the idea of transferring but could never really be bothered. One day I stumbled across a blog that showed how fees are the biggest impact upon investment success. That night I decided to kick off the transfer process.

Here we are now in October 2019 and my transfer, which can take up to 30 days, is still in progress.

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