Making chicken feed of my mortgage

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  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    muddywhitechicken wrote: »
    - Have a re-style rather than a trim when I go to the hairdressers on Saturday

    Sooo I've gone from a jaw length bob to a short side swept pixie cut :)

    Meals planned up to and including Friday - £26.70 spent on groceries (although £3.99 of that was on tonic water :eek:) but didn't manage to get everything on the list.

    Grocery challenge = [STRIKE]£81.79[/STRIKE] £108.49/£315
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • Goldiegirl
    Goldiegirl Posts: 8,805 Forumite
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    Excellent news on the FI front!
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
  • CathT
    CathT Posts: 7,115 Forumite
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    FI is going really well for you. Your recipes always sound so good!
    Apr 2024 - part 1 - £30,337 part 2 - £24,811 Total - £55,148 43 months to go!
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    I'm having a pre-dinner G&T - The Botanist served with a sprig of rosemary from the garden :beer:

    Dinner will be HFW's roast swede vegeree - it smells good :drool:

    I've sorted through my seed box this afternoon - note to self: DO NOT BUY ANY MORE SEEDS!!!

    So this month, I need to:
    - Use a £4.50 gardening club reward voucher (that expires at the end of the month) to buy seed compost
    - Sow tomatoes (4 varieties), broad beans and sweet peas
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • smallholdingsister
    smallholdingsister Posts: 4,018 Forumite
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    We'll done Mr MWC!
  • pinkypig
    pinkypig Posts: 1,814 Forumite
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    Congrats on your FI - what an achievement:T

    I'm now dying to know how you calculate it. Is it value of assets, pensions and savings excluding house equity x 4% or am I over simplifying it?

    Enjoy your dinner (and your pre dinner:D) it sounds lush xx
    Original mortgage £112,000 . Final payment due August 2027.
    Mortgage neutral achieved August 2020 - 7 years early!!!
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    pinkypig wrote: »
    I'm now dying to know how you calculate it. Is it value of assets, pensions and savings excluding house equity x 4% or am I over simplifying it?

    Yes, it's that simple! Although if you read SSS's diary you'll see that ed's complicating it by adding state pension in to the mix :rotfl:
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • gallygirl
    gallygirl Posts: 17,228 Forumite
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    muddywhitechicken wrote: »
    No, it's not... I'd been on the sherry :rotfl:
    It's 80% FI which is still pretty good :)
    Oh dear, just as well you didn't hand in your notice on the spot :rotfl:. Though if you did go back and add in state pension..........:T. Great stuff :j.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    muddywhitechicken wrote: »
    Meals planned up to and including Friday - £26.70 spent on groceries (although £3.99 of that was on tonic water :eek:) but didn't manage to get everything on the list.

    Grocery challenge = [STRIKE]£81.79[/STRIKE] £108.49/£315

    Finished off the shopping in Lidl this morning (+£6.59) however Mr MWC is at home all week so we will probably need more milk before next weekend.

    Grocery challenge = [STRIKE]£108.49[/STRIKE] £115.08/£315

    Today's lunch was chilli bean crumble using vegetarian haggis with mashed swede *yummy*
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    pinkypig wrote: »
    I'm now dying to know how you calculate it. Is it value of assets, pensions and savings excluding house equity x 4% or am I over simplifying it?
    Isn't it .... oh good grief, what are the words .... you decide what you want to fund from your savings - £20k a year, say - and you multiply that by 25, so £20k x 25 = 500,000 in savings will let you withdraw £20k, 4% a year, and leave room for returns to replenish the savings. No idea what your figures are, of course!
    Enjoy your dinner (and your pre dinner:D) it sounds lush xx
    Absolutely :j

    And somebody tell me if I've got the wrong end of the stick on the savings calculation, because if I have, my own figures are in doubt yet again :o
    2023: the year I get to buy a car
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