Mortgage neutral in 8 years!!!

Retireyoung

Not much change for October, investments down around £500 which after the last few months’ volatility a bit of stability is welcome. The wife has been out of work for a few months and starts a new job in November so the cash in bank figure should start to go up from now on.



Figures to date:
Mortgage = £383,000
S&I = £183,700
Cash in bank = £11,900
Need to save = £187,400

Retireyoung

So not much to report again for November, investments down a little, it was down quite a bit but fortunately made a recovery at the end of the month. The wife’s start date got moved to the end of November so that didn’t make an impact on the cash in bank figure. Overall moved £1,500 in the right direction which we can't complain about really.



Figures to date:
Mortgage = £382,150
S&I = £183,400
Cash in bank = £12,900
Need to save = £185,850

Retireyoung

Decembers update a little late. Christmas bonus received in December which put a positive spin on the cash in bank figure. Most of the bonus went into my SIPP which I don’t include in these figures but I should get a nice tax rebate in this month’s pay. Investments down again but nothing to worry about.



Figures to date:
Mortgage = £381,270
S&I = £182,370
Cash in bank = £17,300
Need to save = £181,600

Retireyoung

Good progress made in January on the investments front, up almost £5,000 at the end of the month. It was a lot more mid January but has dropped along with the markets in general. I don’t make overpayment to the mortgage but I’m looking forward to Feb as the mortgage will start with a 37 and not 38, bit sad but there you go. Cash in bank figure also up as tax code changed due to my bonus payments into the SIPP. So, all in all very happy with January.

Next month will be our one year anniversary in this house, amazing how fast time goes.



Figures to date:
Mortgage = £380,400
S&I = £187,600
Cash in bank = £18,900
Need to save = £173,900

Retireyoung

It!!!8217;s been a busy few months so not had any time for updates, lots going on with work and a couple of holidays. Savings and investments have been up and down a lot in both directions, currently up so I!!!8217;m not complaining.

Cash in bank figure is down as £10K has been moved into my ISA.


Figures to date:
Mortgage = £376,900
S&I = £206,700
Cash in bank = £8,500
Need to save = £161,700

courage2change

This is such an inspirational thread! I like the net worth theme. I’m always too impatient to see the mortgage number go down but this investment thing is working wonders for you.

Amazing progress - well done.

Retireyoung

Thanks C2C

Looks like you have made good progress on your mortgage also. I do sometimes feel it would be a lot less stressful to just overpay the mortgage as my route does have many highs and lows along the way, overall it seems to be working as currently two years ahead of schedule to be mortgage neutral.

Retireyoung

Summer has been a hectic few months at work but did manage to fit a couple of holidays in so not had any time for updates until now. I knew our investments had not been doing great over the last few months, figure below show we are down nearly the best part of £15k since June, at least the mortgage balance is going down. Cash in the bank is also down mostly due to holidays.

Next month I will have a revaluation and a dividend from a private company I have an investment in which I know is going to be significant to our overall saving and investment figures which should hopefully reverse the poor summer.



Figures to date:
Mortgage = £373,700
S&I = £191,400
Cash in bank = £6,200
Need to save = £176,100

Retireyoung

September has been a truly unbelievable on the road to being mortgage neutral. Much of this improvement is from a revaluation of a private company I have an investment in, the increase in the cash in bank figure is due to a dividend from this investment. Without this dividend the figure would actually be £6,000.

I have not made up my mind yet what to do with these funds, I think most likely I will make a contribution to my pension which I don’t include in any of these figures so the cash figure will likely go down.

The original plan was to be mortgage neutral in 2025 but this is now looking more like 2022.

Overall very happy with progress in September.



Figures to date:
Mortgage = £372,900
S&I = £222,100
Cash in bank = £28,300
Need to save = £122,500

Retireyoung

What a difference a month makes. After Septembers fantastic run I knew it could not last October has been a truly awful month. The figures below don’t show the true picture, one of our investments has had its shares suspended, when they start trading again I don’t know what price they will be but I think we will be looking at £20-25k hit.


Figures to date:
Mortgage = £372,000
S&I = £218,200
Cash in bank = £27,600
Need to save = £126,200