I really really want to be........mortgage free!

ourcornercottage

shangaijimmy wrote: »

Sounds like a great weekend. You may need work for a rest!!

I really do I think!

CathT

Sounds like mini occ has had a great time!

Home office sounds reasonable. We are hoping to do our 2 storey side extension for £35k although I may be dreaming!

ourcornercottage

CathT wrote: »

Sounds like mini occ has had a great time!

Home office sounds reasonable. We are hoping to do our 2 storey side extension for £35k although I may be dreaming!

I don't think you are far out. The office we are having is substantial with kitchen and loo too. so utilities need to go into the building. Something like the one attached or even a bit bigger

https://www.smartgardenoffices.co.uk/product/the-quinto-ultra/

I think your estimate is reasonable.

ourcornercottage

has been really sad all day today about DB. Can't quite snap out of it. Watched the extras episode. Funny as......

Oil is being delivered tomorrow so will pay that on Wednesday, about £500 for a total fill up. We will see when it comes though as it might be less.

Brought a part Loan in FC as I'm not adding any extra in this next few month later just reinvesting and interest.


S&S ISA had £500 added from shares sale £500 kept in current account for now as I want to start guttering soon and that's a 7th of it! The £500 in ISA going to VLS 100 instead of individual shares. Hopefully won't drop too much more but Everything in ISA is a 15+ year investment so it will head up soon I'm sure. We are now adding about 760pm into pensions between us plus the government top up so hopefully will make up for the late start in a Year or two.

Have decided in really want to at least part retire in 10 years aged 52. So need to have reasonable pension/investment amount, mortgage paid off and house renovation completed. It's doable,personal aim is Christmas 2025. Need to make business more profitable and extract more money from it together with getting more freugal which has been tricky this last month.

Just need to remind myself on here why I'm doing it every so often!

ourcornercottage

Oil delivered at a cost of £480 for a full tank (just over 1500l) I remember paying that much for 500l a couple of years ago. That will last us about a year I think maybe longer. If prices stay low I will top up in the summer again. Our combined heating/electricity is about £700 per year now which isn't bad for an old 4 bed house with rubbish insulation:)

Need to call and pay for it tomorrow!

Today miniOCC bonked his forehead/head at gymnastics as he was being a fool so I've had a eye on him since then and used frozen peas on it. Theres quite a bump coming and I'm going to stay up another hour or so to keep checking on him. He has definately learnt his lesson in thrashing himself about.

It's a bit quiet money wise, switched van insurance at work so saved over £400 on the renewal quote!!! Money shuffle is going on and should complete tomorrow. I will pay the oil and leave all annual bills money intact for now. Hopefully that can remain as it is, it will be my annual bills/guttering fund . The bills account owes my investments £500 too but might stick that in the guttering fund too for now. Actually I sold some aviva shares recently for about £600 that I'd originally brought with £500 I'd pinched from the annual bills account so it's heading back to its spiritual home!!!

A little payout on its way from TCB, but I'll round that up to £5 when it lands. Can't commit to any further expenditure til next week as I will know where I am by then.

Today it seemed like I was mugged with £10 extracted for a hen night deposit, £20 paid for 5 weeks gymnastics, £5 donation to the poor donkey sanctity that's been broken into for the 6th time by vandals. £10 towards a take away as the BF accidentally ruined the stew I'd made for tea (long story I won't go into it!) and no time to replace. Mugged!

In other news

miniOCC is running the sport relief mile . Will definately be training at park run this time so there's no stage fright!!!

Session 3 of my counselling skills course tomorrow.

Work is so busy, every time I got caught up today another order came in! I really need to get the vat done, don't they know that!

edinburgher

Sounds like the pension planning is coming along really well. If you pay basic rate tax that's £950/m after the gummint freebies, more if you are paying higher rate tax :beer:

Leaving it late is a killer, isn't it? Even at young 30s, Mrs E and I will need to put away something like £500/m to achieve our goals. Just glad I didn't let it drift for another 5-10 years :eek:

CathT

Hi OCC, thanks for mentioning about the Sports relief mile, i looked into it quickly this morning and entered us all this afternoon. DD is really keen to run a 'race' so this will be perfect.

Sounds like you are investing well for your future, we should really be doing more but never get around to increasing those contributions!

Luckyinlife

Pension talk
Could you give me an idea of how you go about working out how much you could potentially get by saving x amount OCC ? and also i thought you couldnt get your pension money antill your certain age ?

I know its naughty im 28 now ok iv had a busy last 3-5 years but have no really pension plan in place

would like to semi retire early 50s if possible seeing my old man work till he was in his 60s really is an eye opener

ourcornercottage

Hi CathT and Ed, we are doing well now but have left it far too late to have any guarantee of decent income. We do have a business that will have some value but I don't want to depend on that. If we don't want to sell it we will be able to make a decent amount working few hours. I really want to give myself options though so I want to add as much as I can at this stage within going super frugal and making us miserable.

The sport relief mile miniocc is looking forward to. Now just need to raise some money.

LIL there's a myriad of calculators out there which you an idea of what you could expect at retirement age. There are probably better but you can look at this one as an idea

https://www.hl.co.uk/pensions/interactive-calculators/pension-calculator

All I can say is that I personally started too late and I am in the process of starting a pension for miniocc who is 7. I am starting him on £20 per month which I will increase when our pension provisions are looking a lot more healthy.

OP's/Savings/Investments/Pensions 4 pronged attack on sorting out the finances!

Edited : Oil was actually £440 as I paid straight away:)

shangaijimmy

Wow, just used the pension calculator link! I thought I as doing ok with plans!!! May need to re-evaluate!