FIRE Through The Mortgage - MF by 55 - LATEST

A_Frayed_Knot · 13 March 2016 at 7:59PM

Firegirl wrote: »

I'm def being made redundant so just need to find out when! Eeeeekkkkk

Oh no :eek: I hope you have been there a long time, so get the rewards/redundancy to keep you going till you find a new job.

Good Luck

Firegirl · 16 March 2016 at 3:07AM

I've been there 11 years so I should be fine. Plenty of time to sort out a new job! Fingers crossed it all goes smoothly!

Firegirl · 20 March 2016 at 5:12AM

Life time ISA

This is a brilliant deal- am I missing something.

So hubby and I can both put in 4K a year for approx 10 years so that's 80k total with a 20k bonus.

That will always be higher than whatever the mortgage rate is.

Once it matures do you have to buy an annuity? I'm thinking of using this more like an offset mortgage plan- is there any downside? I'm struggling to find a downside but at least I have a year to work it out!!!

Downsides/questions
Can't take money til your 60
3 Ds debt, divorce, death,
Can get money out but you loose bonus and 5%
You are paying tax unlike pensions coming straight from wage

Firegirl · 22 March 2016 at 5:51AM

I started another thread for the life time ISA. It doesn't look quite as appealing as it looks on the outset.

The joys of redundancy process. Looks like the whole department has filled the form in that they want to go, so realistically it's between me and another guy. Really thought this other guy would want to stay so now I'm wondering again.

I can't wait for the unknown to be over!!! If there's no conversations in the next few weeks with me I'll know I'm gone!!!! Not helping insomnia!!!

Karmacat · 22 March 2016 at 12:15PM

Hi Firegirl - oh my, look at that timestamp! That really is insomnia

As you know, I'm dealing with the unknown myself - just as you were typing, in fact, I was making myself a cup of tea and going back to bed to drink it

but I managed to sleep again - hope you did.

I haven't researched the lifetime ISA, so no input from me there, sorry.

I really hope the redundancy comes through for you xxx

Firegirl · 27 March 2016 at 7:43PM

KC - I know I often browse this site in the middle of the night - lol

Hope you're doing well KC- sure it all works out in the end.

I'm hoping by the end of the year I'll be on here boasting about a new job and massive overpayments and holidays because I'll be paid market rate for a change!!!!

Or I'll be saying I'm broke but I've loads of time with my kids!

Fingers crossed all works out for the best- trying to go with the flow!!!

Luckyinlife · 27 March 2016 at 8:16PM

Enjoy the ride fire if you can life chucks up these kind of things all we need to do is overcome them :]

Firegirl · 27 March 2016 at 11:49PM

Very true lucky! I can honestly say this process of being made redundant is more stressful than getting married/ moving house and I'm not sure what others are in the top 10 most stressful life events!

Some of my colleagues have been made redundant before and they say it wasn't as bad as this in their last place.

Not long now and I'll get through it for sure! I'm excited about leaving now but just busting to find out what date it will be and then sort out what I'm gonna do next!!!

Firegirl · 29 March 2016 at 7:56AM

Looking forward to doing some money reshuffles today.

I was chatting to a friend who is similar financial position as me and we were saying, aren't we so lucky to have choices that we can squirrel away money on various places. Some people don't have anything and are really struggling to make ends meet.

Have a lovely day everyone!!!!

juliejim · 29 March 2016 at 9:04AM

Just finished reading your diary - hope you get to hear about your redundancy soon so you can plan. You are going great guns with your mortgage so far.

Jue

FIRE Through The Mortgage - MF by 55 - LATEST

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