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    • Denzel09uk
    • By Denzel09uk 11th Jul 17, 1:10 PM
    • 155Posts
    • 186Thanks
    10 Year Retirement Plan - Mortgage Free too
    • #1
    • 11th Jul 17, 1:10 PM
    10 Year Retirement Plan - Mortgage Free too 11th Jul 17 at 1:10 PM
    So, Hi. Let me introduce myself.
    My name is Daniel, or people like to call me Denz.
    Ive been toying with the idea to start my retirement journey.
    So now i`ve started it and wanted to share this journey with you and hopefully give you the inspiration to join me.
    I will be sharing my ideas, thoughts and what im doing to create a passive income.
    Passive income is where you earn money by doing nothing or very little for you to get paid.
    Updates will happen on Monday afternoons with my experiences, plans and thoughts.

    First things first
    Find out my financial position,
    Do I have Debt (Unsecured or Secured)
    How much free cash flow do I have?
    How much monthly passive income do i need to generate in order to live the current lifestyle?
    How much is need to clear the mortgage and be mortgage free?
    These are the questions that I have asked myself,
    So here goes!
    Current Mortgage Balance (Secured)- £189,606.98
    Loans/Credit Cards (Unsecured Debt) = £0
    Overdraft (Unsecured Debt) = £768.28
    Total Debt = £190,375.26

    Passive income needed after Mortgage is cleared £1400
    This covers monthly DD payments like Council Tax / Utilities etc
    Free Cash flow as it stands now is £700

    I do have a flat that is generating around £400 a month after fees on rental income. Plus we are able to put aside £300 a month.

    Current Investments - To provide Dividends for Future, I will be adding to this every other month and paying off my mortgage every alternative month. Increase my investments and decreasing my mortgages

    ITV - 42 Shares @ 176.40 (p) = 74.21
    United Utilites - 24 Shares @ 902p = 216.48
    Vodafone - 42 Shares @ 222p = 93.24
    SF adventurous Fund (Acc) = £750.96
    Total Investments = £1,134.89

    I have a great spreadsheet that projects my 12 months spend and income.

    I have a facebook page too if anybody wants to follow that, just search "My 10 Year Retirement Journey"

    This is all still very much a steep learning curve but I've been in the finance industry for 17 years.

    All advice will be greatly appreciated.

    Investments - £1,290.62 (Shares on a DRIP Strategy)
    Mortgage Balance - £189,662.09
    Credit Card Debt - CLEARED

Page 1
    • Kittenkirst
    • By Kittenkirst 11th Jul 17, 8:19 PM
    • 1,431 Posts
    • 7,083 Thanks
    • #2
    • 11th Jul 17, 8:19 PM
    • #2
    • 11th Jul 17, 8:19 PM
    Hi Denz, welcome to the boards!

    Without being too cheeky can I ask your age (approx)? Helps with knowing if your retirement plans are early retirement or standar retirement
    Emergency savings- £3195. /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1441.10/ £2150. 67%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £71.17
    • Denzel09uk
    • By Denzel09uk 13th Jul 17, 12:44 PM
    • 155 Posts
    • 186 Thanks
    • #3
    • 13th Jul 17, 12:44 PM
    • #3
    • 13th Jul 17, 12:44 PM
    Hi KittenKirst

    Nice to meet you virtually.

    Im currently 35, I dont have any children which definitely helps.


    Investments - £1,290.62 (Shares on a DRIP Strategy)
    Mortgage Balance - £189,662.09
    Credit Card Debt - CLEARED

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