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Getting FIREd up 😀
Comments
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You need to zoom in, Ed 😀 Makes sense to me with one straight and wiggly 🤔 If the ISA wasn't such a massive target compared to everything else then the scale wouldn't have had to be so big, but we are where we are!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!3 -
I'm loving the chart. I find it easy to read but I think people just process differently.
Stupid question that you've probably already answered... But why is your isa target so much higher than your pension?5 -
I'm assuming @South_coast is relatively young?
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Thanks Ed 😍 I'm actually a couple of weeks older than you are, must be my youthful online persona!
KP, ISA is higher for two reasons. 1) I can access it any time I like, so I'll hopefully be withdrawing from it before I'm old enough to access a pension. 2) Withdrawals won't be subject to income tax. Obviously I'm paying into it with post-tax money and not getting any uplift on it from the taxman, but with the state pension alone not being far off the income tax threshold I don't really want the majority of my money tied up in something which is also taxable. In reality, I'll probably come up short on the ISA and end up with more than planned in the pensions, but not a great deal I can do about that other than stop making contributions (as I'm already at the minimum), which doesn't seem sensible - so again, we are where we are
🤷♀️🤣!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!4 -
Interesting. I have also prioritised my ISA, mostly for the flexibility as I know I want to go part time and also I may be unable to work relatively early. It's just interesting to hear from someones else's perspective. Hopefully I didn't come off sounding like I was criticising.4
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Not at all, just your usual nosey self 🤣😘!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!3 -
3
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The space bar is your friend, then you can say as little as you want
See....Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
😀Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
It is interesting watching people chart their progress. You inspired me to work out my savings rate and it was better than I expected although well short of yours.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 10/10/251
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