Mortgage start: April 2024 - 295k Current £256k
Emergency fund: 13.5k/15k
Current mortgage free year: 2054 2039
Mortgage free diary: Snug & Sorted: Our Race to Mortgage Freedom
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FIRE Through The Mortgage - MF by 55 - LATEST
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I have family here to look after the kids over Easter!! How lucky am I. Looking forward to spending time with them. Also even with all the dinners and treats out well still save a lot on childcare! Yay! One step closer to mortgage freedom!Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
So looking at May next years target of £158, 000. 2 months to decide if I want to slide closer to that by transferring more savings. Or should I put to pension or save up for BTL...... opinions please!!!
Good news today is contract extension is in progress! Woohooo.Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
Only you know your circumstances.
My head is telling me the sensible route - pension,
my heart is telling me overpay all the way,
however BTL - is calling,
nothing about me is sensible :eek:
Sorry, no help to you
Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_Now a Part Timer from 27.10.190 -
AFK- your message is soooo right though and I think it would be daft not to go the sensible route considering I wouldn’t pay tax on pension contributions.
Sensible vs MFW determination - watch this space :rotfl:Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
Spent a lot today. Eeekkkk!
Got my nails done £18
Eyebrows done £10
Chinese takeaway £25
..........feeling good......priceless!
Lucky this isn’t my usual behaviour, as it could impact my mortgage free goals!Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
:rotfl:Went to see some show homes today!!!! Wow they are amazing but realised that the main reason they are amazing is because there is no family clutter!!! ........... can’t really leave them behind so have decided to start decluttering instead:rotfl:Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
Oh and mortgage balance updated!!! I’ve hit my mortgage free by 50 balance. Delighted to hit my target 2 months early!Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
Unhealthy obsession with calculations tonight!!!!Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
I know I keep posting today!!! This is the last I promise. Feeling motivated so posting the years and targets I have left if all goes to plan! Looks so much shorter than my first post!!! Obviously time has passed and that’s a real bonus when it come to aiming for mortgage freedom!!!:beer:
May 2020 - £158,054
May 2021 - £ 141,176
May 2022 - £124, 132
May 2023 - £106,918
May 2024 - £89,535
May 2025 - £71, 979
May 2026 - £54,249
May 2027 - £36, 344
May 2028 - £18,261
May 2029 - £0Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
Ooh that's come well down, well done!
you are a few years ahead of me but I have a similar goal of retiring at 55, maybe even 50 0
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