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10 years to clear £334K - our FIRE journey

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  • Much sympathy on the SORN charges, kind of thing we do
  • CCW007
    CCW007 Posts: 1,081 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Much sympathy on the SORN charges, kind of thing we do
    Feels a bit "take with one hand, give with the other". Ah well, not the end of the world, thanks for the sympathy 🙂
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well done on the money making endeavours. Sound irritating on the car tax but as you say it is what it is. I still need to update my details. Need to find the log book first!
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • CCW007
    CCW007 Posts: 1,081 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    savingholmes said:
    Well done on the money making endeavours. Sound irritating on the car tax but as you say it is what it is. I still need to update my details. Need to find the log book first!
    We've lost a log book - we know it's in our name as we get the tax reminders but really don't want to pay £25 to replace it.

    Another cheeky fiver cashed out from PA = £290 / £520. 

    £164 interest added to my cash ISA = £158 to find to be cost neutral next month, it's coming down!

    OH cash ISA will mature middle of next next month which will add around £800 interest to the pot.
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You are doing great on getting to cost neutral. How lovely to on the RS maturing.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • CCW007
    CCW007 Posts: 1,081 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 8 February 2024 at 8:22PM
    Thanks SH!

    I forgot we had put an insurance claim in for our dog's vet treatment recently which is being paid out meaning another £232 in the pot so we are now forecast to be +£77 next month.  Hopefully we can improve on this a bit more! 

    Cashed out from PA meaning OPs are at £300 / £520 target.
  • South_coast
    South_coast Posts: 5,850 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    You're making this look too easy 🤣!
    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!!!
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Fantastic on the vet £ back. You are doing really well.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • CCW007
    CCW007 Posts: 1,081 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 9 February 2024 at 1:38PM
    Ha ha south_coast, I wish! Thanks SH.

    We had a problem with the plastering and the plasterer had to come back to remove and redo a section. I wondered if he would charge us as he was here for 3/4 hours but no bill so far.  The section he's done looks awful but I'm hoping it will be okay when painted.

    This weekend I need to start mist coating the ceiling and walls.which are dry.

    The kitchen company are sending another fitter on Monday as the first one was too far away (1.5 hours drive each way).

    And I've found a tile fitter who has done underfloor heating under limestone tiles which is what we want so he's coming on Wednesday to quote. 

    So some progress, was feeling. Bit overwhelmed and panicked by what's left to do but feeling better now we have organised and chosen etc 
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I can so relate on the overwhelm and panic. Hope it's subsiding for you now. Best of luck with it all. Sounds like a lot to do but will make a huge difference once done.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
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