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! 😁
  • savingholmes
    savingholmes Posts: 27,236 Forumite
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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! 😁
    I agree - I would want to know all that too. 

    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 by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • 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. 
  • savingholmes
    savingholmes Posts: 27,236 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Good luck with your aspirations and channel 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
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