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Mortgage free in Forever Home :-)

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  • beanielou
    beanielou Posts: 95,790 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Happy Friday. 
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • beanielou
    beanielou Posts: 95,790 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Happy Friday. 
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • savingholmes
    savingholmes Posts: 28,997 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well done on the life admin.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.1/£127.5K target 24.4% 15/8/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • savingholmes
    savingholmes Posts: 28,997 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I have done my Will.  I considered it cruel not to. It makes life a lot harder for those you leave behind especially if unmarried.  Even when married some people try to crawl out the woodwork and make a claim. Get it done - it's a kindness.

    On my list for 2 years plus is a POA. Feel free to remind me about that.

    Hope you are OK.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.1/£127.5K target 24.4% 15/8/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • Cheery_Daff
    Cheery_Daff Posts: 17,271 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 29 June 2024 at 8:43PM
    I have done my Will.  I considered it cruel not to. It makes life a lot harder for those you leave behind especially if unmarried.  Even when married some people try to crawl out the woodwork and make a claim. Get it done - it's a kindness.

    On my list for 2 years plus is a POA. Feel free to remind me about that.

    Hope you are OK.
    For me, a POA was more important than a will. We're married with no kids, and Mr Cheery is quite a bit older so likely to go first. If he does, I'll get everything, and then when I die, either my parents will get everything (not ideal but not the end of the world) or if they're gone, my sister. If I go first, Mr Cheery gets everything, then his dad/sister/nieces & nephews depending on who's around. Probably not exactly the distribution we'd choose but uncomplicated and not a crisis. I do want to make a will though to make sure my nephews get something even if I go first. 

    POA, on the other hand, was for me more important. I primarily deal with finances and paperwork in our house, and while Mr Cheery is not incapable, if I ended up mentally incapacitated for whatever reason, I want to make his life as easy as possible - want him to be able to access all bills, finances etc easily, and to be able to make care decisions for me. Most things are joint, but not everything, but I absolutely don't want to add to the complication if I'm still alive but in need of care - likely a very distressing situation for him. If anything's happened to him, my sister is back up attorney, and again, I want it to be less complicated.

    For me, that was more important than what happens when I'm dead - that can be done more slowly and with less urgency. As I said, our situation is quite uncomplicated if we die intestate though, and I appreciate it won't be for others! 

    Of course, nobody else around me has done their POA yet, so I myself would be left with a mess if anything happened to them, but hey ho 🙄😂 Mostly they haven't done wills either- my mum's will still says that me and my sister (now in our 40s) should be looked after by our grandparents (now deceased) 🙄😂
  • beanielou
    beanielou Posts: 95,790 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    You have both been very busy.Phew.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Cheery_Daff
    Cheery_Daff Posts: 17,271 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lots done there, well done! Where are you planning for your big anniversary trip?!
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