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Mortgage free in Forever Home :-)

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Comments

  • savingholmes
    savingholmes Posts: 29,087 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Baking looks tasty.  Enjoy your bank holiday weekend.  I think k jobs are like snakes and ladders. Sometimes you have to go down and sideways before you go back up. I did that 15 years ago and it set me up for later success. You don't know what future doors this step could lead to.

    Mental health is well worth it.
    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 10/10/25
  • SandyShores
    SandyShores Posts: 2,003 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Nice scones!  I'd really like to grow some tomatoes next year - I'm paying 50p each for the ones I like (sort of beefsteak texture but smaller) and using at least 5 a week.  
    "Think of many things, do one"
    Mortgage 31Oct'25 est. £207,450 £309,749 2020 (current ends 2038 -aiming for 2031)
    Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga 

  • badmemory
    badmemory Posts: 10,058 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    You would be surprised how many people do not seem to ask questions about their pensions until they are about to take them.  The fiasco of the missing years that has had them ground to a halt for the last 4 years now just shows that.
  • greenbee
    greenbee Posts: 18,176 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I've been ignoring pensions for a while now - I put quite a bit off effort in about 15 years' ago, but life has got in the way. I did consolidate some work pensions, but didn't consolidate the funds which really needs doing. So at the moment I have two 'big' personal pensions that I still pay into, my old SERPS opt-out pension, my last employer's pension and my current employer's pension. I'm seriously considering finding a financial advisor to help me sort it all out. 
  • KajiKita
    KajiKita Posts: 8,503 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    greenbee said:
    I've been ignoring pensions for a while now - I put quite a bit off effort in about 15 years' ago, but life has got in the way. I did consolidate some work pensions, but didn't consolidate the funds which really needs doing. So at the moment I have two 'big' personal pensions that I still pay into, my old SERPS opt-out pension, my last employer's pension and my current employer's pension. I'm seriously considering finding a financial advisor to help me sort it all out. 
    I can send you the details of the chap I used if you like? He made it quite straightforward for me to understand. 

    KK
    As at 15.10.25:
    - When bought house £315,995 mortgage debt and end date at start = October 2039 - now £229,702
    - OPs to mortgage = £12,345 Estd. interest saved = £5,863 to date
    Fixed rate 3.85% ends October 2030

    Read 59books of target 52 in 2025, as @ 18th October 
    Produce tracker: £426 of £300 in 2025

    Watch your thoughts, they become your words.
    Watch your words, they become your actions. 
    Watch your actions, they become your reality. 
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