Prosperous soul, mortgage neutrality & creativity Year 2

savingholmes

badmemory said:

You could well be right as for over 10 years I used to draw graphs & other diagrams some of which were even published in economics books.  That was over 50 years ago & as for the research I helped with regarding joining the common market well that was a whole new learning curve.  Talk about lies damn lies & statistics.  I worked for 2 different professors proving opposite opinions using the same figures.  Then people wonder why I don't believe the figures spouted obout remain/brexit or anything else for that matter

There you go - I was right - just a different kind of art for you. 

What I will say on this week's art - is that I've probably spent about 7 hours on an A4 painting. It would be very difficult indeed to get a decent hourly rate selling pictures like that individually. You'd have to do a print run. I am starting to think of other things I'd like to have a go at painting. I did a distant dragon in the sea today - but it would be fun to draw a more upfront and personal close up of a dragon too. Even if I start by modelling it on someone else's while I find my own style. 

I agree with you on statistics - and that's despite or because of having studied them at some point too.

A wider family member rang me for over an hour tonight! Not used to being in such demand! A different family also rang this week and asked me to help them do a p1p form. I get they need the help but it's all life admin when my head already feels full. 

I was so tempted yesterday to buy a laptop in the sales but resisted. This one works it's just a little disappointing. Coming up to 3 years old now too. Just hope it doesn't fail on me as despite temptation it isn't a priority item to replace.

beanielou

Ypou can say no to other peolpe's life admin!

savingholmes

beanielou said:

You can say no to other people's life admin!

I did previously - but then this person messed up big style. They have MH issues and need some help. I'll probably do something about it when I'm off at the back end of next week.

Played around with my signature again - focusing on the financial elements and updated to reflect AVCs and savings changes today. Had the joyful realisation that knocking the price down £10K also saved me £600 in stamp duty equivalent too. My EF will drop to compensate for items paid in (1) but then will be replenished once the sale goes through:

Moving goals: Anticipated costs £8.2K (excluding new furniture or any post move renovations)

1) Upfront house move costs Paid £0/3,926  (£550 for legal, £800 for mortgage (port and survey), £76 post redirection, £1,500 removals) 

2) Balance of likely house move costs  Paid £0/5,372 (£1,772 legal, £3,600 land tax from equity)

Longer term financial goals

3) Emergency/Freedom/Home/Moving Fund £7,274/£10,000 70.74%

4) MFW Nov 21 £201,999 with 264 241 payments to go - now £187,030 Equity 38% 

5) Mortgage neutral by June 2030 £5,839/127,466 AVC target 4.58% 

6) FI Age 60 guaranteed annual income target £14,351/30,000 47.83% 

7) CC Debt free April 22 (now stay that way!!)

Tahlullah.H

Everything is going really well for you Savings!!  I hope you are really happy in your new home when the move comes round!!

jwil

Those financials are looking fantastic.

KajiKita

Definitely worth talking to the mortgage company about use of CC and I can totally understand about wanting to wait to 30th October to avoid losing your interest. Good win on the stamp duty too 😊👏

I really enjoy colour and have come to understand in the last few months how visually motivated I am. I w at to do a lot of ‘play’ with colour this winter - just need Mr KK to stop pulling the house apart! 😉

KK

savingholmes

Tahlullah.H said:

Everything is going really well for you Savings!!  I hope you are really happy in your new home when the move comes round!!

Thanks Tahlullah - just hope things go smoothly from here on out and that the surveys on either side don't show up any nasty shocks.

Thanks Jwil.

I know I'm repeating myself - but I keep trying to reassure myself that my plans are doable. DB pensions if I stick with my current employer / related pension - I should increase by £5Kish between now and age 60 in guaranteed income - even after allowing for the pension reduction I get for taking it 5-7 years early. I have a split current pension so part is based on age 65 and part age 67 which goes up by inflation best endeavours. I have £4.8K separately based on age 60 which goes up by inflation capped at 5%. I need the AVCs to create most of the additional guaranteed income but if I have that - I would be able to afford to pay my mortgage into retirement if necessary. If I succeed in getting to the max 25% tax free lump sum through AVCs - I then hope to buy guaranteed pension with the rest - which may mean I do it at the end or could mean I switch approach closer to retirement.

Once I hit age 67 and get SP I'm sorted as long as I keep this pension to age 60 and boost AVCs phenomenally - it's just bridging the 7 year gap - which I may do through part time work or art and writing I just don't know yet.

savingholmes

KajiKita said:

Definitely worth talking to the mortgage company about use of CC and I can totally understand about wanting to wait to 30th October to avoid losing your interest. Good win on the stamp duty too 😊👏

I really enjoy colour and have come to understand in the last few months how visually motivated I am. I w at to do a lot of ‘play’ with colour this winter - just need Mr KK to stop pulling the house apart! 😉

KK

Thanks KK - nice when people get where I am coming from. It sounds like you are making huge progress on the house. I love your garden and the view!

I keep being drawn to shades of yellow furniture - I currently have red (which is due to go) and teal - so pretty bright already. I'd prefer turquoise leather or a soft blue but haven't seen that so far. I could always paint whatever I buy a different colour later however much others may be aghast at that. I still love the turquoise painted free chair I did a couple of years ago. I was thinking of taking a trip out to go and look at some - but I think I should wait until Xmas/Jan sales by which point I may have moved or be working towards a moving date. I've got a flavour of price from the net I just need to test actual comfort levels.

I find even the decision to let certain furniture go hard - even where it is past it's best! Childhood training I think! My parents agonise over those kind of decisions too - and have kept many of their belongings decades.

I've asked the EA to try and get me some ceiling heights for the kitchen, porch and converted garage so I can work out what the max height of cupboards or sliding doors needs to be and price them up accordingly. I've booked a kitchen appt at the orange diy shop for Monday. At least that will give me a basic design I can then use to price kitchens with their competitors. I want a clear picture of how much the kitchen is likely to cost so I know what I potentially have left to spend on anything else like a new sofa, potential ottoman bed and possible sliding doors to hide storage and a utility area behind. I need to nail down likely costs and then prioritise.

I have a lot of built in storage here though - and will need something to replace it. However I have one triple wardrobe (with one mirrored door) I can take with me - which will meet my immediate needs for the main bedroom.

I know I've left in my signature that I want to avoid future debt - but I may compromise on that as long as a) I have the money to pay it off in full in my savings and b) it would be repaid in full before my mortgage renews at the end of 2026 and c) it was at 0%. Unless I'd get a significant discount by paying it off in full upfront. That could allow me to meet my AVC goals while retaining a healthy EF. AVCs pre growth in theory because of the tax benefits give me a 25-50% return upfront. I know they can lose £ - and with the current global conflicts that could be an issue - but I can keep it under review and if necessary switch to buying guaranteed pension for a while.

It's nice to play around with possibilities.

jwil

I'm the same as you, I keep revisiting my retirement plans to see if they work out.  Our overall aims and plans to achieve it seem quite similar, even if the figures are quite different.  Even if things don't work out exactly as planned once we get to the planned retirement age, we'll be in a pretty good position to have choices.

Merlin's_Beard

You're in a fantastic position retirement wise with a guaranteed income lined up, and  the rest of the financials are looking pretty good as well.

Holding onto things beyond their usefulness is definitely a ND thing, so it may be brain wiring as well as upbringing...