FIRE Through The Mortgage - MF by 55 - LATEST

Firegirl

Never thought I’d get here but I’m now mortgage neutral!  

Signature updated with new figures. Bit late this year as I’ve been focusing on getting my pension contributions up so surplus funds have been redirected.

Hope you’re all doing well!

Firegirl

Some good news! I got a contract extension to June 2023!!!! Really gonna focus on saving this year as I had wayyyyy to much fun in 2022😳😂

South_coast

Well if having too much fun is getting to mortgage neutral and paying extra into your pension, then yes you definitely did! Both fantastic achievements, very well done 😀!

Firegirl

I’ve gone from a regular contributor to a yearly one by the looks of it!  I’ve updated my signature and luckily I’m still in work so onwards I go.  I’ve focused a lot getting my pension pot increased making use of the tax benefits there.

I’m now mortgage neutral but I still would like to get the capital down even if it’s not the most sensible decision.  A life long obsession has to still be chipped away at.  I’ve been loitering on the pension thread and I think I will mainly focus on my pension from now on.

Hope you’re all well and enjoying the challenge of MFW.  Never in my life when I started this thread, did I think I’d come this far!

Firegirl

Thanks to everyone who’s followed my journey so far. I have a brand new pension diary called

FIRE Girls Pension Diary - Aim High & Dream Big

Feel free to follow my crazy dream to reach a million!  I will be back here to update MFW but my general plan is to focus on pensions/ISA and let the mortgage roll on as a monthly bill.

enthusiasticsaver

I subscribed to your pension diary yesterday but thought I would check out your mortgage free diary too.  It is always difficult deciding what to prioritise but as you are a higher earner I guess it makes sense to focus on the pension for tax breaks.  I always think too that paying off the mortgage is also an emotional decision as it is nice to know you own it completely and of course going into retirement without a mortgage means you have less outgoings to cover. 

Firegirl

Thanks for popping over @enthusiasticsaver

You are right it is very personal!  I’m not sure I can quite let go of my MFW journey even though more sensible to save to pension!

LL_USS

Just comparing your signature with your plan for May 2024 - you've far surpassed your aim. Well done ;-)

Firegirl

Oh yes! Just went back to my first post at well on track for being mortgage free by 55.  But if I aim for 50 I’m a wee bit behind at the moment…. Some decisions to be made before the end of the month. I have some extra funds and I’ve to decide to put to pension, ISA mortgage!  Let’s see where the notion takes me!

LL_USS

Firegirl said:

Oh yes! Just went back to my first post at well on track for being mortgage free by 55.  But if I aim for 50 I’m a wee bit behind at the moment…. Some decisions to be made before the end of the month. I have some extra funds and I’ve to decide to put to pension, ISA mortgage!  Let’s see where the notion takes me!

Good luck with your decision ;-)