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Follow the Yellow Brick Road 2023

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Comments

  • savingholmes
    savingholmes Posts: 29,178 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Enjoy your new hobby. Don't put too much pressure on yourself. Sometimes we are our own hard taskmaster.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
    3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
    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 £5.3K updated 17/4/26
  • savingholmes
    savingholmes Posts: 29,178 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you go on your council website and looking at their minutes - you may be able to find what your CT will be. 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
    3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
    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 £5.3K updated 17/4/26
  • savingholmes
    savingholmes Posts: 29,178 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    £20 extra a month is a lot. I am grateful energy prices are coming down 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
    3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
    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 £5.3K updated 17/4/26
  • Thanks savingholmes, I couldn't find the minutes, but I did find a page explaining the council tax and it looks like a 9.2% increase for next year (approximately £20 per month extra).  Will have to wait and see if the gas/electric goes up too.  I should receive a pay rise at the start of July so that will more than cover any difference, I don't think Mr Shores is having much of a pay rise this year though.  Luckily we are in a good position at the moment.  I'm aware that things can change, for better or worse so won't take it for granted. 
    At the minute they're predicting that energy prices will go down from here, assuming nothing unexpected happens in Ukraine. The government cap is in place until June and they're predicting that it won't be needed after that, unless something unexpected happens in Ukraine.
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £224,460.73
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
    Unread owned books Jan 2026: 256
    Undone crafts 2026: +1
  • SandyShores
    SandyShores Posts: 2,065 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Its another £21 savingholmes, not great but we can manage that.  Especially if the energy bill isn't rising.  Thanks Merlin's_Beard that is good to know.  I'm waiting for my energy bill review in April and should receive about £100 back according to my calculations.  Definitely feels like a better position then I thought we would be.
    "Think of many things, do one"
    Mortgage est. 30 Apr'26 est. £201,500 £309,749 2020 (ends 2038 - aim for 2031)
    Seven Goals; and healthy diet/walk/run/exercising/weights/yoga 

  • SandyShores
    SandyShores Posts: 2,065 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Bit of overspending this weekend so far, and we now have just under £35 to last until payday.  Feels slightly strange to have so little left but luckily all food purchased to last us until payday, apart from a few odds and ends we might need.  Having an early night tonight with my hot water bottle - its been a long week and I need to recuperate for another long one next week.
    "Think of many things, do one"
    Mortgage est. 30 Apr'26 est. £201,500 £309,749 2020 (ends 2038 - aim for 2031)
    Seven Goals; and healthy diet/walk/run/exercising/weights/yoga 

  • savingholmes
    savingholmes Posts: 29,178 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hope you feel more rested tomorrow 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
    3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
    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 £5.3K updated 17/4/26
  • SandyShores
    SandyShores Posts: 2,065 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Thanks savingholmes I managed to get a better sleep last night and definitely feel more rested but woke up with a back niggle.  Will do some stretches today but will book a physio in the week.  Its a sign of working too hard, not taking enough time away from my desk and stress.  The physio will sort it out but I need to get more of a routine going where I don't have to keep going back.
    "Think of many things, do one"
    Mortgage est. 30 Apr'26 est. £201,500 £309,749 2020 (ends 2038 - aim for 2031)
    Seven Goals; and healthy diet/walk/run/exercising/weights/yoga 

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