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I liked the "pretending you're retired" bit 🤣!
I think the Frugalwoods are probably the epitome of Lean FIRE - even though they still earn money and live in a big house with kids, they don't spend money on anything. I don't see myself as that extreme - maybe I'm more Barista FI 🤔?
Anyway, what I do know is that the three big things I budget for each year are car insurance, holidays and gifts, so as soon as I can cover those from the FIRE pot I can stop transferring money to savings every month and instead use that cash to build up the pot a little more - I guess that will make me "sporadic purchase FI" 🤣Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
South_coast said:Thanks Poppycat 😀 The mortgage has definitely always been my priority as well - I know I can probably do more with the money elsewhere, but I just can't get past the fact that it's costing me money in interest every single month (plus all the fees etc for remortgaging every few years). To own it outright and then make it into a beautiful home (rather than a hovel, as BF jokingly refers to it now) will be priceless.
I mentioned vaguely to BF last night that I'd done some figures and couldn't understand why some people were aiming for such huge pension pots. He said he wants to have the same level of income then as he does now, so he can afford to do all the same things. So do I, the difference being the amount I want in retirement is the amount I actually live on, rather than the amount I earn but only briefly see because the rest disappears off in OP's!
I'm hoping to keep posting once MF, depends whether everyone will allow me to stay 🤣!Oh course we want to to stay SC! You're an inspiration and you've built up so much experience and wisdom to pass on.I came to the same conclusion as you about what I need to live on after thinking like your BF for a very long time! I feel a bit dim for not working out that once the Mortgage AND OPs are gone and there is less need to save agressively - that and that going going to work is expensive - we wouldn't need the same level of income for a similar life style.2014 starting mortgage £165,0002015 second charge £20,000 - Jan 2021 paid off in fullCurrent outstanding balance - £115,8562 -
You've sent me down a rabbit hole now of FIRE stuff and it's making my head spin a little. It's my birthday at the weekend and I have next week off so I'll sit down then and make a plan 😂Emergency Fund - £8572.39 / £10,000 :: Mortgage OP 2025 - £LISA 24/25 - £3200 / £4000 :: NSD 2025 - 2 / 150 :: Books Read: 1 / 52 :: Decluttering - 4 / 1000Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 20171
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I think I'm aiming for the Lean end of the middle of FIRE. Barista FI sounds like a nightmare to me, I hate the smell of coffee
On a serious note, the people who genuinely believe in Barista FI to its extreme makes me think that they don't know how stressful those kind of jobs can be. I have seen studies quoted in the news regarding work stress being worsened by lack of power in the work place.
I'm part of the London FI FB group (not even living in London) and there's a huge variety of people on there. People who just want to learn more to people who have actually FIRE'd and they're super friendly regardless of the path you've chosen. If you're interested, you should definitely join.3 -
I agree on the coffee, can't stand the stuff (which apparently is a blessing in disguise as I've never developed a Costa/Starbucks/etc habit). I see myself as more B&Q FI (they like older folk there, right?) or Wilko FI, although I agree that no job is probably what it appears on the surface! Actually, what I'd actually like to do is something with a charity, as years of working in customer service have left me wanting to help people who have actual problems and aren't just whining, but a) that would probably be volunteering, so not an option if I still needed to generate an income; and b) I'm not very good at that joining-in-with-things thing, so I might find myself too shy to approach anyone when the time came 😳
Anyway, back to 2021 and the more mundane: One Poll have emailed me two survey invites this morning, which I clicked on and was immediately told I wasn't the right fit; and Vypr keep asking me whether I would buy eggs which were garlic flavored 🤢 I love both eggs and garlic, but if I wanted to mix the two I could easily achieve that myself, plus I am quite perturbed by how they would try to achieve such a thing 😮!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
Ooh, forgot to say hello to another March baby, Ruby! There seem to be quite a few of us, we must be born under an MSE sign 🤣!
And an inspiration Chiglepig, not sure about that but thanks for the compliment! There are definitely a lot of costs associated with working, from one-offs like clothing, to daily stuff like lunches/petrol/parking/car wear and tear/nipping into the shops for booze on the way home that would all reduce with no job to go to!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
March babies are clearly the best.
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South_coast said:Ooh, forgot to say hello to another March baby, Ruby! There seem to be quite a few of us, we must be born under an MSE sign 🤣!
And an inspiration Chiglepig, not sure about that but thanks for the compliment! There are definitely a lot of costs associated with working, from one-offs like clothing, to daily stuff like lunches/petrol/parking/car wear and tear/nipping into the shops for booze on the way home that would all reduce with no job to go to!
Actually came across a FIRE calculator that basically said based on my current salary and current savings, if I maintain that then I can retire at 59 which is basically what I'm aiming for 👍 Agree that the Barista FI life sounds awful but would love to probably stack shelves in a supermarket for a little bit of "pocket money" as my nan used to say, but then again she stopped work when my mum was born, and then my grandad retired at 50 - so it was a very different situation!Emergency Fund - £8572.39 / £10,000 :: Mortgage OP 2025 - £LISA 24/25 - £3200 / £4000 :: NSD 2025 - 2 / 150 :: Books Read: 1 / 52 :: Decluttering - 4 / 1000Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 20171 -
I'm a March baby, too
😃
I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £201 -
And another one here too. Ides of March, anniversary of Julius Caesar's assassination. Guess which play I did for Eng lit O level & "that" speech is etched into my brain still over 50 years on.
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