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Woohoo!
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Quick calculation 119 days to go before MF date. Next milestone will be to hit the 100 day countdown. WOOHOO5
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Congratulations. Woohoo indeed. Nearly there...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 29/7/252 -
Very close.2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 mortgage of £103000
May 2021 mortgage of £100000
July 2021 mortgage of £97000
November 2021 mortgage of £93000
July 2022 mortgage of £84000
December 2022 mortgage of £79000
December 2023 mortgage of £73000
March 2024 mortgage of £70000
May 2024 mortgage of £68000
October 2024 mortgage of £65000
February 2025 mortgage of £63000
March 2025 mortgage of £45000 and interest of £6.07 per day2 -
Thanks @caeler it’s always welcome when you drop by. Yes stepping over the threshold (pardon the pun) into 2022 has really brought the MFW date into clear perspective. I’ve actually started looking at my home differently (in a good way). I hadn’t envisaged in 2008 when I moved in with a 25 year mortgage that I would get to his point. Thanks for your support and your diary and journey to become MF when you did. L9XSScaeler said:
So how does it feel to be paying off your mortgage THIS YEAR?! 🥳L9XSS said:Quick calculation 119 days to go before MF date. Next milestone will be to hit the 100 day countdown. WOOHOO4 -
Ok been crunching the numbers again and again. I’ve come to the decision that whilst rates are very low I’m going to see the mortgage through till May 2023 when it will be finished. I’m going to make a substantial overpayment this May (circa 16k) which will drop my current payments dramatically. I can then balance mortgage and importantly pension contributions. A decent payrise at work and investing both in my workplace pension and SIPP should give me a good balance between the two.6
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Clever! And you are in control! I probably should have done something similar really but I was blinded by the idea of paying it off so now I’m playing catch up on the pension!2
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Sounds great planning. Pension can give long term income and growth
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 29/7/252 -
Thanks, yes 12 month deviation from the May 2022 target but this let’s me leave more in my pension pot. So my new goal is May 2023. My first overpayment will be May 2022 and I’m looking at a £16000 overpayment. 😃savingholmes said:Sounds great planning. Pension can give long term income and growth3 -
Will be a fab OPAchieve 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 29/7/252
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