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About 3k on a 0% credit card, though it’s coming to an end early next year. I’d like to get it clear but I will probably have to move to another 0% offer. I dislike having debt (as we all do on this forum) but I suppose it’s managed in the best way at present. With interest rates rising for savers I want to take advantage of building my EF.
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So small saving this month (£150) going towards paying down the CC. Small bonus from work so that will go towards CC too. Had a decent day today,time spent in the garden as it’s dry and sunny. Listed lines on gumtree for sale, trying to clear stuff that we don’t use as a family. I really want to finish work at 62 so I’m working towards that being a realistic target if I put the effort in over the next 6 years to make that a solid reality. I will have to make some “high ticket” item purchases regarding our home, ie new front door, new boiler, some replastering and boundary wall. My EF is well short of where I want it to be.5
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It's good you have a plan - just refine as you go. You've done what is probably the hardest bit - the mortgage - hopefully the next part will be reasonably smooth sailing.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/251 -
Haven’t posted for a while (6 months). So it’s been 9 months since I paid off my mortgage and moved the focus of overpayments to mortgage to pension and investments. The plan to fully retire in 6 years time when I reach 62. I will start drawing a DB pension at 60 which is forecasted at 19k per year. I’m managing to put between £350 and £400 a month into a SIPP where I manage the portfolio (buying and selling units). Plan is to have £200k in the SIPP at 60 years of age. Savings should top out at £24k by age 62. Still running two old cars but have made some improvements to the house. My main “driver” the last 13 years has been around setting out a plan and sticking to it. 1st part has been completed (the mortgage) 2nd part is now in play and has 6 years to run to deliver my goal (FIRE).
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Glad things are going strong for you. You have a lot of drive and focus and it's paying off.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/251
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