SF's road to mortgage freedom!

slowlyfading

Currently have crumble in the oven... smells soooo good :drool: :drool:

edinburgher

slowlyfading wrote: »

Currently have crumble in the oven... smells soooo good :drool: :drool:

Go and do stuff!

We're having roast chicken with braised potatoes, corn on the cob and HM gravy from proper chicken stock

slowlyfading

edinburgher wrote: »

Go and do stuff!

I really haven't done enough today....

We're having roast chicken with braised potatoes, corn on the cob and HM gravy from proper chicken stock

Mmm.... food envy again! :drool:

edinburgher

I'm taking a leaf out of the aforementioned book about early retirement, it's my fund for financial freedom.

Currently running at a savings rate of 1.7% :rotfl:

slowlyfading

Lol okay I've been reading through various sites about early retirement and have been looking at various ways, but, at the moment, our money won't stretch all ways!

If you don't mind me asking, have you got a plan? Or just trying to put a bit away for now and see how it goes?

edinburgher

If you don't mind me asking, have you got a plan? Or just trying to put a bit away for now and see how it goes?

I vacillate depending on what day of the week it is

Just kidding, we have a plan, but it's a starter, not enough to make everything fall into place yet. Planks in the plan (as it is), include:

• I have a preserved civil service pension - only £2k/year, but it is indexed each year
• Mrs E and I pay the maximum required into our workplace pensions to get the employer match (6% each/6% match). This money is invested in index tracking funds with low fees
• Overpay on our mortgage to remove the single biggest expense from our lives ahead of schedule (12 years should be possible with minimal effort)
• Add value to our home with cost-effective repairs and improvements
• Build up our emergency fund before investing further
• Watch our bills like a hawk - we auto-renew on nothing and don't subscribe to anything
• Do the things we can do for ourselves by ourselves

Longer term, I'd like an energy neutral house and a garden/allotment to improve this further :j

slowlyfading

Thanks for taking the time to type that my plans are similar, though perhaps a little more vague at this stage!

gallygirl

slowlyfading wrote: »

If you don't mind me asking, have you got a plan? Or just trying to put a bit away for now and see how it goes?

That IS a plan isn't it :rotfl:.

Ed, have been reading on a few threads about having an IO mortgage, bunging the difference into a SIPP to get the 20% (or 40%) tax relief, bung in more over the years and use the lump sum to pay off the mortgage. How do you feel about that? Probably not really an option now as IO mortgages hard to get.

slowlyfading

gallygirl wrote: »

That IS a plan isn't it :rotfl:.

I guess so

edinburgher

eek! double post