The Crossover Point

1235713

Comments

  • Zola.
    Zola. Posts: 2,204 Forumite
    First Anniversary Photogenic Name Dropper First Post
    edited 14 December 2020 at 11:03AM
    Cheers, they all came from inside good personal finance books, mostly! :)
  • Grogged
    Grogged Posts: 865 Forumite
    First Post Photogenic Name Dropper First Anniversary
    Happy New Year.
    Great to see the mortgage progress and in being so, so close to 5 figures!
    Looks like you'll make some great progress this year on OP and ISA.
    Any reason your not using/topping up a SIPP for the extra £50 to also get the tax advantages?
    ATB, G.
    If it's not adding up, compound it!
  • Zola.
    Zola. Posts: 2,204 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Thanks, @Grogged - Happy new year to you and yours!
    I currently have 18% going into my work pension, 12% from me, 6% from work.. I am hopeful for some sort of pay rise this year which should increase that amount a little bit more... my wife puts in 14% but she may up hers soon also. 
    I am focusing quite a bit on ISA investments with my wife, as that money would be available to draw on if we really needed it, or if we built up enough to get the mortgage out of our life... it helps me sleep at night knowing its available within a few days, even if I really want to let it grow for decades.
  • savingholmes
    savingholmes Posts: 27,305 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Sounds like you are doing really well. 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works & new patio door £11.9K
    3) CC £3.7K on 0% spends card but offset by £34K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • Grogged
    Grogged Posts: 865 Forumite
    First Post Photogenic Name Dropper First Anniversary
    That's a pretty cool way to show your spending!
    If it's not adding up, compound it!
  • savingholmes
    savingholmes Posts: 27,305 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Great graphic
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works & new patio door £11.9K
    3) CC £3.7K on 0% spends card but offset by £34K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • Zola.
    Zola. Posts: 2,204 Forumite
    First Anniversary Photogenic Name Dropper First Post
    edited 11 January 2021 at 2:46PM
    The news has been fairly depressing as of late, I am trying to avoid it. It has quite the magnetic force pulling me back though, more regularly than I would like.

    Recent stock market winds have pushed our ISAs up more this month, which is nice to see, for however long that will last  :D 

    S&S ISAs vs Mortgage Debt: 38.53% (+1.96%)
    S&S ISAs & Cash Vs Mortgage Debt: 49.68% (+2.72%)
    Combined Gap to Mortgage Balance: £50,515 (-£3066)

    I am very happy to be (sort of) at the "halfway point" to being mortgage neutral. When I started tracking these three metrics back in September, our Assets vs Mortgage Debt was 40%. To go to almost 50% in five months feels good and I feel rather fortunate.

    To be mortgage neutral, my original goal was for this to happen by 2025, I really have no idea if it could happen much sooner, or if the stock market is ready to fall apart again, all part of the rollercoaster I guess!!
  • Just popping in here to say hi!  Will subscribe to follow. I remember hitting 5 figures of the mortgage. SO satisfying. 
    DFW (08/08) £64,346.53 Gone (02/19)
    MFW (08/08) £118k Gone (09/23)
Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards