Mortgage free by September 2014 (or before!)

SmileyG_2

Having now committed to the 10K next year target (10K run that is!), I need some intermediate challenges.

There is scope for the following...

1) 5K surplus on the mortgage account
2) 5kg weight loss
3) 5K run by January 2013

On the mortgage front, recent falls in the stockmarket has reduced my surplus to £3510

The weight loss thing is a new target, gets me down to 70kg (this could be hard, I have never tried losing weight in my life!!)

On the 5K run front, just heading out to buy my first pair of running shoes in 25 years (see my previous post). The first run will be soul destroying (I just know it!), but I'm on a nine week training programme for absolute beginners so I know I'll get there.

Latest traing diary

8/11/2012 20 mins on the exercise bike with 8x60 sec sprint sessions
9/11/2012 0.5 miles in the pool in 45 mins (different sessions longest session was 200 yds; it's an old pool the lengths are in yds not metres!).

Weather is dreadful today in the kingdom of Kent, but fine tomorrow. Firstrunning session is planned for Monday...

SmileyG

SmileyG_2

Finally road tested the new running shoes tonight.

Ran 6 mins out of 30 and did 4K. My first serious training run in 25 years!!!

Phone app didn't work (lost GPS signal for first 2K) so I had to do it on Google Earth.

I think the 5K run will come before the other 3 challenges. Have signed up for the parkrun scheme. The nearest to me is Whitstable and I will do one before Xmas!

SmileyG

SmileyG_2

Not a good week on the stockmarket this week...

Surplus has fallen to £3,363 as shares fall across the board.

However ran/walked my second training run last night and did 4.25K in the 30 mins. Feel a bit stiff today... Have scheduled my third run for Saturday morning. Might swim tomorrow night...

I need a new set of weighing scales. I think I may have lost weight but it's hard to tell. Memo to me " Get a set of digital scales"

SmileyG

SmileyG_2

Just updated the latest status in my signature..

Mortgage at 25/11/2012
Outstanding balance: -£46,057
Estimated endowment value: £29,892 (value @ 30/06/2012)
Investments: £19,903
Surplus: £3,738

Completed Week 2 of my training program. I extended the course to 5K and have strained a calf muscle in my right leg. Still manged to complete in 35:41 but was hoping to be closer to 34:00...
May need to rest for a week, so looking at alternative exercise.

Weight loss is around 2Kg, looking to go below 70Kg (5K weight loss). Have a doctor's appointment on Tuesday, might look at using his weighing scales (see my previous post)

SmileyG

SmileyG_2

Just updated the latest status in my signature..

Mortgage at 01/12/2012
Outstanding balance: -£45,999
Estimated endowment value: £29,892 (value @ 30/09/2012)
Investments: £20,061
Surplus: £3,954

No running this week, may try and do a short run on Monday, but did two lot's of swimming on Monday and Wednesday, both of them 0.5 mile sessions. Don't find the swimming as rewarding as the running, but at least it's exercise while the calf and achilles clear up.

Weight loss is around 2Kg, looking to go below 70Kg (5K weight loss). Doctor's visit revealed no new problems so other than hypertension and other known issues, set to continue with the exercise regime...

SmileyG

SmileyG_2

Just updated my signature... Lot's to report (some good, some not so good, nothing bad!), but just need to get my head around everything.

In the meantime a belated Happy New Year to all MFWs!!!

SmileyG

SmileyG_2

Mortgage at 01/02/2013
Outstanding balance: -£45,523
Estimated endowment value: £30,229 (value @ 30/12/2012)
Investments: £21,011
Surplus: £5,717

The recent bounce in the stockmarket has been good for the investments. I am now going to let the investments work for themselves and concentrate on paying down the mortgage. I want to be around £40,000 by September next year, so I will apportioning my payments as follows:

Mortgage: £331.40
Investments: £100.00
Endowment: £68.00

My fitness drive has shuddered to a halt. I managed to run the local Parkrun on Jan 5th, but should't have as I was carrying a problem which looks like ITBS (no, I'd never heard of it either!). I'm now seeing a sports therapist once a week but it could be a few more weeks before I can start running again.

Weight wise, I had actually got down to 70Kg, but not running has seen me add 2Kg back :mad:

At least the mortgage payments are heading in the right direction!

SmileyG

SmileyG_2

Here's my March update...

Mortgage at 01/03/2013
Outstanding balance: -£45,286
Estimated endowment value: £30,229 (value @ 30/09/2012)
Investments: £21,342
Surplus: £6,285

My surplus has now passed £6,000 as a result of the recent stockmarket rally. I would expect the endowment valuation to have increased as well, but I am resisting the urge to get a valuation until the end of this month.

Here are my current valuation predictions,,
Outstanding Mortgage at September 2013: -£44,274
Predicted endowment value at September 2013: £31,491
Predicted investment value at September 2013: £21,904
Estimated surplus: £9121

Outstanding Mortgage at September 2014: -£40,395
Predicted endowment value at September 2014: £33,800
Predicted investment value at September 2014: £22,666
Estimated surplus: £16,071

When i set out on this MFW adventure, the plan was to cover an endowment shortfall so that I could pay the mortgage off in 2014. A combination of low interest rates, overpayments and investment performance has brought me to the point where I could pay it off tomorrow!

The surplus fund will evetually be tapped to do a number of home improvements or to go towards a new property, but I am avowed not to have another mortgage irrespective of whether I pay it off in 2012, 2014 or 2020!

Hope everyone elses MFW plans are meeting targets. My other plans (fitness and weight loss are less succesful, but that's for another day.

Keep the MFW faith!

SmileyG

SmileyG_2

Update on the Mortgage at 01/04/2013
Outstanding balance: -£45,049
Estimated endowment value: £30,579 (value @ 31/03/2013)
Investments: £21,819
Surplus: £7,349

Long weekend to look forward to. I will update on all fronts over the weekend...

SmileyG

PS: Has anyone seen spring? It seems to have gone missing.....

SmileyG_2

Mortgage at 28/04/2013
Outstanding balance: -£45,049
Estimated endowment value: £30,579 (value @ 29/03/2012)
Investments: £22,018
Surplus: £7,548

The recent bounce in the stockmarket continues to be good for the investments. I am now going to let the investments work for themselves and concentrate on paying down the mortgage. I want to be around £40,000 by September next year, so I will apportioning my payments as follows:

Mortgage: £431.40
Investments: £0.00
Endowment: £68.00

This should give me at September 2014:
Outstanding balance: -£40,502
Estimated endowment value: £33,700 (at 30/06/2014)
Investments: £22,909
Surplus: £16,107

My fitness drive has resumed, albeit at a slower pace than anticipated. I managed to resume running the local parkrun but have now become involved in organising one of four new runs in Kent. They are fantastic as they provide 5K runs totally free, but until the volunteer roster gets bigger it's stopped me running on a Saturday morning. It's still hard, but great fun in a perverse sort of way! Still hope to complete a 10K this year.

Weight wise, I am now at 69Kg, a total weight loss of 6kg:j
Would like to lose another 2Kg, so still working on it!

SmileyG