Cheery_Daff wrote: »
UFM Day 6Knowing net worth
Hmm... I confess I have absolutely no idea I've never really felt like it was a thing I needed to track... Let's see...
We paid £425000 for the house :eek: and mortgage is now around £208000, so that's about £217,000 there.
I have two pensions - one with the scheme I was under with my old employer - I only worked there for 5.5 years, and not all of it full time. I paid in about 7% of income, employer about 13% I think so it accrued nicely. Just tried to check but again they want all manner of login details that I don't have to hand - a job for another day. My second one is my current one, and again I can't get in without finding login details in my work email (not logging in there until I absolutely have to!). Been paying into that for 3 years now, I pay in around 10% of salary, employer around 16% so again it's building up nicely (or at least I hope it is!!)
I'm only 38 so won't reach official state pension age for another 30 years or so :eek: by which time there will probably be no pension, or the age will have been raised to about 90 :eek: However, I do NOT intend to be working until I'm 68 if I can possibly help it!
Would be lovely to be in a position to pay off the mortgage sooner rather than later (it's got 24 years left, so I'd hope we'd be able to pay it off in 20, and it would be lovely if we could do it in 15 or even less!) Then we could live frugally off Mr Cheery's pension until mine kicked in and we'd be able to live the life of riley as OAPs :rotfl: :rotfl:Thinking about it - I'll likely still be working full time in 9 years, so we'll very likely be able to throw all of his at the mortgage... So paying it off in 15 years suddenly seems a little more realistic.... :eek:
rtandon27 wrote: »
Wow Cheery - that is quite some post - you've put a lot of thought into your Net Worth calculations - well done you!
We were chatting in the abstract about NW on KC's tread, and now that I see your workings written out, I've got a bit of a solid framework to start from - many thanks!:D
Cheery_Daff wrote: »
Thank you I never know whether to put actual figures or not (you'll notice I didn't post either of our incomes or actual savings...). On the one hand, most of you don't know me in real life anyway and even if you did, does it matter?
On the other hand, this stuff does feel private and people do judge other folks don't they, especially on the internet So I completely get why you might not want to share exact figures. I was clearly just in an overshary moody :rotfl: and I don't actually KNOW most of my figures anyway :rotfl:
As for paying off the mortgage with Mr Cheery's pension - well, an 18 year age difference has got to have SOME advantages, right?! We could only afford this house cos he worked and paid off a 25 year mortgage, and then I was near the start of my career to take out another one. We've actually never both had a full time job at the same time as ge left his while I was still doing my PhD :rotfl:
Just goes to show there's no point comparing to other people's slightly bizarre circumstances :rotfl:
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