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Five Year Fix, Five Year Plan

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  • savingholmes
    savingholmes Posts: 29,112 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Enjoy your socialising.

    My fave secret santa was decades ago - "red, round and nifty for less than one pound fifty". I gave someone a windup robin I think and was given a tall pack of pringles.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £171.3K Equity 36.55%
    2) £2.6K Net savings after CCs 10/10/25
    3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
    (If took bigger lump sum = 62K or 48.6%)
    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 £5.1K updated 14/11/25
  • rtandon27
    rtandon27 Posts: 6,178 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ooooooo - Second Date - now you will have us all on tenterhooks until you decide to spill the beans - lol

    Sending you all my socializing vibes - heaven knows I'm not using them at the moment, so someone needs to make use of them! - LOL
    4 YEARS 10 MONTHS DEBT FREE!!! (24 OCT 2016)
    (With heartfelt thanks to those who have gone before us & their indubitable generosity.)
    ...and now I have a mortgage! (23 AUG 2021)
    Original Date - Sept 2041 New projection - Jan 2040 (redcuced by 20 months)
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,594 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Definitely grateful I have tonight at home - with the amount I've been out I can feel myself getting snippy at people in work because it's just Too Much. Poor planning on my part! Out tomorrow night as well.

    But. Had an email from HMRC saying that my tax code had changed - they wanted to take money off me - I dutifully rang them to ask why, and to check what and if my reductions had been approved. The guy on the phone had no record of them, so I spent a bunch of my day off collating both deductions (professional membership invoices), and travel expenses, and pension stuff, and submitting that. so we'll see how that all shakes out. (I thought I'd done this in May but I was having such a bad time it's possible I absolutely did not)

    I am also frowning at the wh1ttards black friday sale because I was hoping to stock up on fancy things. However their definition of "amazing discounts" and mine do NOT align (come on 25% in a BF sale is "distinctly average at best discounts")

    However I do really want fancy hot chocolate.
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
  • KajiKita
    KajiKita Posts: 8,802 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    Oooh, well done 👍 You’ve been talking about that piano for ages 😊 Lovely that your parents could help too 😊 Do you already play or do you have a teacher lined up? 

    There’s a poster here called Foxgloves, I think, who ‘shops from home’ a lot, reusing and repurposing the resources she already has. Reading her posts has made me more aware of trying to find a solution with what I already have, rather than always buying again or new. 

    KK
    As at 15.11.25:
    - When bought house £315,995 mortgage debt and end date at start = October 2039 - now £228,473
    - OPs to mortgage = £12,345 Estd. interest saved = £5,863 to date
    Fixed rate 3.85% ends October 2030

    Read 71 books of target 52 in 2025, as @ 1st December 
    Produce tracker: £442 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. 
  • South_coast
    South_coast Posts: 6,115 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Ooh, you've just made me think of this: https://www.raptitude.com/2017/12/go-deeper-not-wider/
    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!!!
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,594 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Ooh, you've just made me think of this: https://www.raptitude.com/2017/12/go-deeper-not-wider/
    This is DEFINITELY the heart of my problem - it's less that I want "stuff" and more that my interests are far, far wider than the time and energy I have available.

    (I keep saying I'm frontloading retirement. I better retire early and live to 105.)

    Maybe I need to combine this and foxholes idea, and try and actually finish - or start - some of the things I've got lying around the house. The craft corner of shame has a LOT in it.

    @KajiKita I know how to read music to a certain degree - I played clarinet as a teenager, which is still lying around the house somewhere - so treble clef is easy enough, and I know enough theory to know how to read bass clef even if it's only with the fluency of a foreign language. And I can one-hand sight read and plunk out notes. So I'm going to try with apps and books to start with - I get some free trials with the piano so I've activated one of them.

    (My three biggest challenges - technique, in the form of hand/finger placement, which I think the apps and the book can teach me with their numbering. And then practicing bass clef and co-ordinating multiple notes and hands, which I think is just a brute force practice thing.)

    Most of my Christmas cards sent off, with the exceptions that I might be able to hand over via family network and a friend that's moving (I also want to cross stitch her a small "happy new home" thing which isn't started yet).

    I don't do Christmas presents for many people, but they're all done with the exception of a) my work secret santa which hasn't arrived (due 21st November - I've emailed), and b) my dad, who is impossible and whose latest hobby is walking to one local shop, checking the price of bread, then walking to the other and then going back if it's cheaper in the first place (I come to my MSE ways honestly, but also he's got too much time on his hands in retirement).

    (In terms of organisation I can do things three weeks early or three hours late and there's nothing in the middle)
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
  • KajiKita
    KajiKita Posts: 8,802 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    That sounds like a solid foundation 😊
    I wonder though, if it would be worth talking to a local piano teacher about just a few lessons to get you started - just so you don’t start by picking up any awkward postural habits or positions that will be awkward to unlearn in future? 

    Well done on the Christmas presents! Thats going some 😊👏 Would your dad appreciate an illustrated heath robinson book. A friend introduced me to it and I bought for my dad for his birthday - also flipping awkward to buy for 😉 and he loved it 😊 

    What’s in the craft corner and what would be the easiest to finish? Thats what I do when I get stuck … 😉

    KK

    As at 15.11.25:
    - When bought house £315,995 mortgage debt and end date at start = October 2039 - now £228,473
    - OPs to mortgage = £12,345 Estd. interest saved = £5,863 to date
    Fixed rate 3.85% ends October 2030

    Read 71 books of target 52 in 2025, as @ 1st December 
    Produce tracker: £442 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. 
  • killerpeaty
    killerpeaty Posts: 2,670 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Oooh, congratulations on getting the piano. It'd be interesting to hear how you get on with learning. 

    You could get your dad a membership to something like national trust or the local theatre? I hear retired people love to have memberships to things (so do I)
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