Prosperous soul embraces creativity & mortgage neutrality

TallGirl

I’m so glad it was helpful sounds like he’s landed on his feet and a relief for you. Enjoy the beach. 

girlatplay

Good news about DS.

Enjoy the beach.

jwil

Great news about DS, sounds ideal!  I love the sound of a forest beach, where is it if you don't mind saying?

doingitanyway

Wow great solution for DS.
Enjoy your weekend 

MovingForwards

Enjoy the beach, it's a lovely day for it.

Great news about DS, he does adapt to thinking outside the box and finds a way to make it work.

L9XSS

savingholmes said:

Thanks jwil

Perhaps predictably with both the heat and the neighbour's nastiness - I slept badly. I journalled between 3.30 and 5am. My watch didn't really class what I did last night as sleep. I woke up early to really bad cramp in my left leg. Despite being up for hours at this point I haven't yet started work!! (Roll eyes at self).

I keep playing with calculators - if I can transfer my old DB pension after age 55-57 (currently 52) - at last summer's values - I could pay around £46K off my mortgage. This at today's rates would mean I'd need £300 less a month or it might then be enough with whatever equity I have at that point to either buy a smaller house outright (particularly if I move areas) or buy one with a small mortgage. If I had no mortgage - I could go part time by around age 57, still gradually improve one DB pension by £400-500 a year while either ignoring or slowly using the first one. Or I could live off the tax free lump sum (alongside part time work) for around 6 years before needing to draw more and keep this place. These figures ignore the current energy crisis... 

Given that this is a recurring obsession of mine - I'm sure you'll read about this again. Many people call this kind of move coast F1r3 as you don't then need 25 times your income to be able to quit - as you can supplement your savings/pension with part time work. I appreciate I am fortunate to have the pensions I do.

With regard to transferring a DB pension it is becoming more and more difficult to do this over the last few years. Very few companies will take on a proposed DB transfer. The cost can range between 5k upwards even to receive a negative response once all the due diligence has been completed. I’m not saying you can’t but be prepared for some closed doors and difficulties.

SuperSecretSquirrel

Your son's new living situation sounds fantastic, well done him! 👌

greent

Glad son is hopefully sorted - sounds a good solution for him

Would second the above comments re transferring out of DB pensions, sadly. And if you still wanted to transfer with advice not to I don't think there's many (maybe 1 or 2 if any?) companies who will take you on as an insistent transfer client- times have changed 

savingholmes

Thanks lucielle, @TallGirl @Greent @L9XSS @SuperSecretSquirrel MF, GAP, Jwil and DIA

We wanted to go to Newborough Forest beach - but apparently the car park was full at 9.30am so there was no chance by the time we got there. Went to a different one further up the coast instead. Waters were still crystal clear so it worked out but a much longer trek from the car and no on-site toilets. Plus side - saved £4 on parking. The drive took there took twice as long as it should of due to traffic. 

I forgot my ham - so my picnic was coleslaw with tomatoes, pepper and bistro salad!!! Did have smoothie and flapjacks. Because of the longer trek we left the jam and croissants in the car - so will potentially have those tomorrow. I bought DD a McD on the way home - so between the jam and that - total spends today £7.38. It was worth the life energy it took to buy it... (as long as I eat the jam at some point). I've just eaten some of yesterday YS soup. My freezer stuff isn't quite frozen. I've turned my fridge up to see if that helps but I may need a new one which would be a blow.

I got home and the health scheme paper work was there so I can investigate a chiropractor now... Will let you know how that goes. I'm also considering some dental work - and it might be covered. I plan to try and leave the optician to next year unless I start getting headaches - but I can use the scheme for that too.

On the DB pension - I'll be gutted if I can't do it - but I know it's a risk that that will be the case. It's just annoying - as it would pay me £3.8K from age 65 - or it could help me clear a chunk off my mortgage (if desired) and semi-retire at 57. I'd still have enough from my other DB at age 67 - as long as I work until I'm at least 57 - and preferably work part time thereafter. I will also have fully qualified for SP by then. There's lots of ifs, buts and maybes. Who knows what the world will be like in 2027?? None of us would have predicted the last few years. I looked into it two years ago - but everyone said come back after age 55 as they  couldn't do anything until then. Meanwhile I plan to save and invest in AVCs to increase my options later.

My desire for FI fluctuates depending on how interesting/boring/demanding my day job is and whats going on in wider family relationships. I have also considered moving abroad - somewhere with a much lower cost of living - but who knows if that will ever happen. I'm also conscious that while I'm single now - I could meet someone - and my life could change entirely from what I can currently foresee.

There are days when I want to sell up and find the cheapest reasonable house near a beach and move... With the new hybrid working arrangements that's all much more doable now - except DD is still living with me... I'm not mentally ready to move yet - but it's part of why I want to declutter and improve my home - so that when I am ready I could.

jwil

Beach looks lovely!