Part 264: Five Years Later

Hello and welcome back to Mortgage Advisor on FIRE.  It’s the five-year progress post.  There are the usual financial updates, both for the week and looking back over the past five years.  Also, thoughts about fireworks in light of the death of animals at Edinburgh Zoo, and some more developments in my job search.  First, though, a little message from me to you.  

Five Years Later – A Message to My Readers  

The past five years have been a whirlwind not just globally, but personally as well. When I first started dreaming up the idea for this blog, I was leaning against the glass balcony panels of a cruise ship in my cabin somewhere off the Norwegian coast. The horizon stretched endlessly before me, just water and sky, calm and infinite. I’d position myself just so, blocking out the ship and everyone else, so it was just me and that vast expanse. It was in that stillness that the first seeds of Mortgage Advisor on FIRE were planted.  

That was 2019. Since then, the world has changed in ways we couldn’t have imagined. A pandemic. War in Ukraine. Economic chaos with inflation spiralling out of control and interest rates rocketing to match. We’ve had a parade of politicians who seem determined to fumble every opportunity to do the right thing. And through it all, society has shifted, with more people demanding something better from work than just stress and burnout.  

On a personal level, it’s been a journey of highs and lows. I’ve faced physical health challenges that saw me hospitalized more than once with one trip even by ambulance. Mental health hasn’t spared me either, with two major episodes in the past five years. The most recent one, just last year, knocked me harder than I could’ve anticipated. I’m still coming to terms with it. Maybe “recovered” isn’t the right word because I’m not sure I’ll ever go back to who I was before. But perhaps that’s not a bad thing.  

This blog and the community around it have been a lifeline. Writing has given me clarity, purpose, and focus, especially when life feels overwhelming. My financial health is stronger than ever, and that’s largely because of the lessons I’ve learned and shared here. But it’s more than just the numbers. It’s the people – you.  

The support I’ve received from readers has been overwhelming in the best way. The private messages, the comments, the emails: they’ve meant the world to me. Knowing that my words resonate with others and that this blog has helped even one person, is a reward greater than I ever expected. I’ve met incredible people through this journey, and your encouragement has lifted me when I needed it most.  

So, thank you. Thank you for reading Mortgage Advisor on FIRE. Thank you for your support, your kind words, and your time. Every interaction, every message, is a reminder of why I started this in the first place. I am truly humbled and endlessly grateful to have you here.  

Here’s to the next chapter – together.  

David Scothern

Mortgage Advisor on FIRE, November 16th 2024.

Weekly Update

My week started with some progress on the job front.  As I mentioned last week, I was offered the job with the high street lender, but I was not happy with their attempt to lowball me.  I took some time to think about it and went back to them earlier this week to formally decline the offer.  I explained that the offer was simply not good enough and that I’d got other offers on the table.  So, I thanked them for their time and the opportunity and wished them all the best.

Shortly after sending that email, they replied asking what I would accept.  The thing is, what I want is not something I think they can offer.  It’s not just about the salary.  I explained that my priority is full-time working from home and that I don’t want hybrid working or to be based in an office.  I want to work from home because the coffee is good and my cat is here.

So I think they may come back with a better salary but I don’t think they’ll budge from their stance of 40% working from the office.  I mentioned that I’d consider extra paid holiday, but I think this would be declined by their HR team. 

The one that I want…

The job I do want may have fallen into my lap, or at least I hope it has.  I received a call on Tuesday from a recruiter who had spotted my CV online.  We had a good chat and he ran through a role that seemed like a great fit; it’s working from home, appointment-based, as a mortgage and protection advisor.  I confirmed I was interested and the following day I had a meeting booked with one of the area managers from the company.  We had a good chat for just over an hour, and I’m waiting to arrange another meeting with the business this coming week when the person I need to speak with is back from leave.      

I’m trying not to count my chickens but I’m excited by this opportunity and can feel some of the energy coming back that I feel has been waning for a while now.  

Oana has been offered a job this week also, and whilst it’s not the dream job it’s a foot back on the ladder.

Christmas Markets

The Christmas markets are open in Sheffield, and Oana and I went for a walk around after it had gone dark on Friday.  Credit where it’s due, but the council have done a great job with the city centre this year.  There are still bits of the centre that are being rebuilt as part of the “grey to green” initiative, but it’s looking good so far.  

The only thing lacking was decent street food, with the available stalls smelling of grease.  What I wanted was a nice Poutine place, or somewhere doing a decent pie and mash. 

Poppy

Our little Pops is getting better following her surgery.  She’s had to go back to the vet twice since the op, and she’s due to go back on Monday for, hopefully, her last post-op checkup.  

She had two teeth removed and we got to see her scans at the last appointment:

We’ve also noticed that she’s stopped drooling since having the teeth removed.  She’s such a sweet, loving, cat and we’re so relieved at how she’s bounced back from all this.  

It’s always difficult taking Poppy to the vet.  I used to walk over to the tram with her inside her carrier.  She was fine with this but then started to panic the last couple of times, and she’d be panting and visibly distressed.  So, we started getting Ubers to the vet and the vast majority of drivers are fine with it.  Every so often we get an asshole.  If you’re allergic, I get it.  No problem, we’ll get a different driver.  I would argue that Pops is a better passenger than most kids as she doesn’t fidget, touch and kick everything, or climb over seats with shoes on.  She just sits in her carrier.  

Uber for Pets

Under normal conditions, an Uber is around £7 from our apartment to the vet.  Last week we had a driver lecture us about having to book a specific “pet Uber” via the app.  We’d not heard of this, but sure enough next time we checked there’s an option for an Uber for a pet.  

On the face of it, this is a great idea as it allows drivers who are comfortable with pets to make money, but when I saw the price I was pissed.  At a time with no price surging, an Uber for a pet was more than five times as expensive as a regular Uber, and it had to be booked in advance.

There’s making a reasonable profit, and then there’s taking the piss.

There are also incredibly sweet cats called Poppy…

Luke Smitherd

I have been rereading the Stone Man series as the new book was recently released.  The author, Luke Smitherd, is active on X (what a stupid AF name to replace Twitter, but I digress) and I’ve had a few interactions with him in the past.  Anyway, I mentioned I was going through the series again and he invited me to a video call Q&A he hosted on Thursday evening.  The race was on to finish the series before the call as there were sure to be spoilers.

The whole series is excellent.  It’s fairly common for the quality of a series to drop over time, and the ones that manage to stick the landing are rare.  Luke Smitherd joined that elite list of authors who craft a story that both ends well but leaves you wanting more.  

The Q&A call was good fun and it’s always nice when you get to interact with people from around the world who share your interests.

If you are interested in The Stone Man series, there’s a trailer for the books shared by the author on Twitter and YouTube:

The Number Five

The science is too complex to explain in a simple blog post, but I need to confirm that the number five is an honorary even number, but only in certain contexts.  It’s like adoption; five might not be biologically an even number, but it is when you think about it.  Five has been welcomed into the family of even numbers.  

For example, the volume on the television either has to be set at an even number, or at a number ending in five so long as it’s at least a two-digit number.  Setting the volume at “5” is just weird but “15” is perfectly acceptable.  

We also have £5 notes, but then no other value of note that does not end with a zero.  As we operate on a base ten number system, half of ten is five, and to arrive at five from ten, you divide by two; an even number.

As I said, the science is too complex to explain, but five is an honorary even number.

To preempt any reader questions…

No, I’m not drunk.

No, I’m not actually being serious.  

I will not be taking further questions.   

Fireworks

I get it, fireworks can look cool when part of an organised display.  The noise is fucking annoying though, and the impact of fireworks on wildlife is an issue that, whilst it is becoming more widely recognised, is still ignored by many people.  

A few weeks ago I mentioned that Oana and I stopped attending an event in Sheffield that refuses to switch to silent fireworks.  They argue that nobody wants silent fireworks.  A few days later our local newspaper ran a poll which showed most people would prefer silent ones.  

Anyway, on Thursday this week, The Guardian reported that a baby red panda, Roxie, died at Edinburgh Zoo following the stress caused by fireworks.  She reacted with extreme stress to the noise, vomited, and choked to death.  This was not the only death at the zoo linked to fireworks this year.  

The link between loud fireworks and harm to wildlife is not up for debate; it’s crystal clear.  If you buy fireworks that make noise, which cause huge amounts of stress to dogs, cats, other animals, and those struggling with anxiety and/or PTSD like combat veterans or those fleeing war, you are admitting that your desire to use loud fireworks is, in your mind, more important than the suffering of other life.  It’s even more abhorrent to me when there is another option, silent fireworks, that have almost no impact on the enjoyment of the fireworks, but remove most of the harmful factor.  

We don’t need fireworks.  We’ve been conditioned to use them because some dude wanted to blow up Parliament over four hundred years ago.  It’s weird.

Movember

I’ve had to bow out of my Movember challenge this year.  The problems with my ear, which was causing a lot of pain, and other factors in my personal life, have made it impossible to give my all to the effort.  So, I’ve had to back out.  When the month started, it was already a tough, but achievable, goal.  However, each day that I failed to hit the step target, meant that every other day had an even higher target.  It got to the point where I’d need to be out walking for four hours each day which is not possible when you have other commitments such as work.  

What I’m Doing

Listening: March of the Stone Men: Stone Man Book 4 by Luke Smitherd.

Watching: Star Trek: Deep Space Nine; MasterChef: The Professionals

MasterChef has started up again, and we’ve been racing through the episodes on iPlayer that we didn’t catch as they were aired.  We don’t watch much live TV so we often miss when new series start. The professional version of MasterChef is my favourite, and I particularly enjoy the skills challenge.  This is where a chef is presented with a brief, and some ingredients, and has twenty minutes to make it happen.  It might not sound like much, but when a chef is asked to do something they’ve never done before and you see their soul leave their body, it’s one of those things which you can’t stop watching.

On the subject of MasterChef, a few people have asked for my recipe for apple and blackberry crumble.  Well, here it is…

Apple and Blackberry Crumble (less grumble, more crumble)

Ingredients: 6-8 servings

Crumble Topping

240g plain flour

150g oats

150g flaked almonds

20g each of; caster sugar, soft brown sugar, and dark brown sugar

120g salted butter

Fruit Mixture

4 Bramley apples

A pack of blackberries

100g salted butter

135g demerara sugar

One teaspoon of cinnamon. 

Process

The first thing to get done is the crumble topping.  In a mixing bowl, mix the flour, butter, and three sugars by hand until you have a breadcrumb consistency.  Then, add the oats and flaked almonds, stir through and leave to one side.

Warm up the oven to 170c.  

Peel and chop the apples into rough cubes approx 1cm-2cm across.  Chop the blackberries in half.

In a frying pan, over medium heat, mix the butter and demerara sugar to create a caramel.  Then add the apples, mixing through so the fruit is coated.  Add the cinnamon and mix again.  After the apples have softened a little, add the blackberries and stir.

Add the fruit mixture to an oven dish, and then add the crumble topping making sure it’s evenly spread.  

Cook for 40 minutes or so.  Serve with custard or ice cream.

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Financial Update

Assets

Premium Bonds: £15,100.00.

Stocks and Shares ISA: £90,058.70.

Fuck It Fund: £34.94.

Pensions: £87,802.18.

Residential Property Value: £237,447.00. 

Total Assets: £430,442.82.

Debts

Residential Mortgage: £185,094.90. 

Total Debts: £185,094.90.

Total Wealth: £245,347.92.

So, it’s been just over five years since I started this blog.  Except for a small break last year when my mental health wasn’t great, I’ve posted pretty much every single week since that first post in 2019.  It’s strange how much my thoughts and feelings have changed over that time.  

When I first started the plan was to build a property portfolio.  Now, the idea of doing that fills me with a cold dread.  I think I could have made it work but for a really unfortunate series of events, like Brexit, Covid, war, and one clusterfuck of a Tory government after another leading to rampant inflation and sky-high interest rates.  Trying to make it work was an impossibility against all those conditions.  

However, it’s not all doom and gloom.  I’ve made some great progress over the last five years, and I think I’ve learned a massive amount as well.  Another positive to come from this blog is that, at least from what I’ve been told, my writing has improved significantly.  At the risk of sounding incredibly cheesy, the real value of this blog isn’t reaching the destination…

*looks wistfully at the horizon*

…it’s about the journey.

Right, let’s all pretend I didn’t just write that and move on to the Annual FI Review.  Here are the three main figures for each anniversary of this blog; Assets, Debts, and Total Wealth:

Annual FI Review

Week 1 (November 1st 2019)

Assets: £188,119.96

Debts: £134,279.11

Total Wealth: £53,840.85

Week 53 (November 1st 2020)

Assets: £221,230.88

Debts: £142,590.19

Total Wealth: £78,640.69

Week 106 (November 7th 2021)

Assets: £462,259.05

Debts: £260,297.98

Total Wealth: £201,961.07

Week 158 (November 6th 2022)

Assets: £509,769.84

Debts: £285,660.42

Total Wealth: £224,109.42

Week 210 (November 5th 2023)

Assets: £518,569.84

Debts: £279,600.57

Total Wealth: £238,969.27

Week 263 (November 10th 2024)

Assets: £429,623.50

Debts: £185,094.90

Total Wealth: £244,528.60

The first thing that jumps out at me from those figures is that my total wealth continues to increase year-on-year, despite selling the BTL between the 2023 and 2024 updates.  I calculated the wealth value of the BTL as the index value minus the mortgage outstanding, but in reality both the value and debt were shared.  It’s nice to know that I’ve continued the five-year trend of growth even with that bump in the road.

A few milestones are coming up which are sure to boost my morale going forward.  The first one is pushing my assets above £500,000 again, and seeing my total wealth figure break through the £300,000 barrier for the first time.  As I look ahead, I’m predicting I’ll hit those milestones by the end of Q2 2025, assuming I am employed relatively early in the new year.

Embracing Simplicity

As my Financial Independence (FI) journey has evolved, I’ve noticed my approach has become laser-focused. In the early days, I dabbled in a bit of everything, property, stocks, bonds, crypto, you name it. I was chasing quick wins, thinking diversification in every direction was the key. But over time, I’ve stripped it all back. Crypto? Gone. Property? No thanks. These days, my energy is fully channelled into stocks via my ISA and pension, with any surplus sitting in premium bonds or cash.  

What I’ve come to realize is this: the simplicity of a solid FI plan is actually one of its biggest barriers for many people. It feels almost too easy. Spend less than you earn, and invest the difference in low-cost index trackers. That’s it. No complex strategies, no secret sauce. And yet, this straightforward approach is the backbone of most successful FI journeys.  

But simplicity can be deceptive. People often assume that if it’s not complicated, it can’t be effective. Or they second-guess themselves, worrying they’ve missed some crucial detail. The truth? FI doesn’t need to be fancy. It just needs to work, and it does.  

Too Passive?

Another hurdle is the passive nature of the process. Once your ISA and pension accounts are set up, investing becomes almost hands-off. You can automate most of it. And here’s the thing: many people want to feel like their success is directly tied to constant effort. The idea that success could come from simply staying the course feels counterintuitive. But inaction is a choice too, and a powerful one.  

By choosing not to tinker, not to overcomplicate, and not to chase every shiny new opportunity, you’re making a decision. That choice, that restraint, is as much a part of the FI journey as the spreadsheets and the savings rate. Sometimes, doing less is the hardest thing of all.  Don’t be a magpie, and don’t be tempted by the shiny things that threaten to distract you.

Stay the course. Simplicity wins. Every time.

Disclaimer

The views and opinions in this blog are my own, and do not represent the views or opinions of my employer, nor should they be considered advice.

If you want personalised financial advice, seek an appropriate professional.  If you are in financial difficulty, seek advice via the resources below:

StepChange

MoneyHelper

Biolink 

You can now find all my social media pages by checking out my Biolink:

bio.link/davidscothern.