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Here’s where the story ends…

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Comments

  • savingholmes
    savingholmes Posts: 28,455 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I think reducing your hours is worth considering. You may find you are a lot less tired then and more willing and ABLE to continue longer. Also there is research that suggests a gentler route into retirement with gradually reduced working hours is the better way to go than a big bang. The other thing to consider is whether there is any opportunity to buy holidays / take unpaid leave as a half way step.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
  • skint_spice
    skint_spice Posts: 13,097 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No opportunity to do either of those SH. Unfortunately!
    Mortgage End Date: Apr 36/Aiming for Apr 28/Current Mar 34

    Mortgage OP 2024 £7700/7000

    Mortgage balance: £44,740

    41 pay days until freedom!
  • savingholmes
    savingholmes Posts: 28,455 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    skint_spice said:
    No opportunity to do either of those SH. Unfortunately!
    That's a shame. I'm lucky in that I can and do - do that.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
  • savingholmes
    savingholmes Posts: 28,455 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Woohoo - congratulations on the OP.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
  • KajiKita
    KajiKita Posts: 5,729 Forumite
    1,000 Posts Third Anniversary Name Dropper Photogenic
    Awesome OP! 😊

    Could you ‘trial’ a shorter working week by booking every relevant day as annual leave for two or three weeks and see how you find it. It wouldn’t reflect the drop in pay level but it might give you a sense of how living / working that way would feel for you? 

    KK 
    As at 06.12.24:
    - When bought house £315,995 mortgage debt and end date at start = October 2039 - now £245,192
    - OPs to mortgage = £7,443 , Interest saved £2,775 to date
    Fixed rate 3.85% ends November 2029

    Read 45 books of target 52 in 2024 (as @ 6th December)
    Produce tracker: £200 of £300

    Watch your thoughts, they become your words. Watch your words, they become your actions. Watch your actions, they become your reality. 
  • skint_spice
    skint_spice Posts: 13,097 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The holiday system is awful, it takes months to get back to agree a day off. I could perhaps if I put day off requests for July but even then they might allow some and decline others….
    Mortgage End Date: Apr 36/Aiming for Apr 28/Current Mar 34

    Mortgage OP 2024 £7700/7000

    Mortgage balance: £44,740

    41 pay days until freedom!
  • peb
    peb Posts: 1,900 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Absolutely do try.
  • savingholmes
    savingholmes Posts: 28,455 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Good luck with the application 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
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