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Fighting the mortgage interest
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That's what I call a target 😎 Wishing you lots of luck!Can you break down what that target really looks like? Personal financial freedom? Financial freedom as a couple? Where do you stand today, and where do you hope to be in two years time (mortgage, savings, pensions, isas, etc)? Do you have a plan for making it happen? What level of annual spend are you hoping to support? What is the plan once you achieve your target? So many questions! 😁3
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I agree - I would want to know all that too.SuperSecretSquirrel said:That's what I call a target 😎 Wishing you lots of luck!Can you break down what that target really looks like? Personal financial freedom? Financial freedom as a couple? Where do you stand today, and where do you hope to be in two years time (mortgage, savings, pensions, isas, etc)? Do you have a plan for making it happen? What level of annual spend are you hoping to support? What is the plan once you achieve your target? So many questions! 😁
They say it's as important to work out what you want to do post FI as the actual journey of getting there - otherwise it can be a damp squib.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5K updated 10/10/250 -
Hi both, thanks for the comments/questions. I'm defining financial freedom as having savings/investments being greater than mortgage balance with at least one years of expenses in the bank on top of that. I understand it's a very ambitious, and potentially unrealistic goal but aiming for it is keeping me motivated. I've started a personal finance YouTube channel and blog which is starting to build so hoping any money made from that can help towards my goal. In terms of what to do when I get to FI it is to reduce hours at work, take a 6 month career break and travel more.2
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Good luck with your aspirations and channelAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5K updated 10/10/250
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