Part 289: Locks, Stocks, and a Plastic President

Hello and welcome back to Mortgage Advisor on FIRE.  This week, I discuss investing versus overpaying a mortgage.  Also, another nice walk, and more insanity from the White House.

Weekly Update

A stressful week, and I’m glad it’s over.  I think a lot of stuff is catching up with me, and I’m starting to run out of spoons.  I need some respite and a break from the routine, and thankfully, I’ve got something coming up in a short while; another cruise around Norway.  I’ve got one of those countdown apps on my phone so I can watch the days tick down. 

Does anyone enjoy their job?  I’m sure some people do, but I’m guessing they’re very much a minority.  I suspect many people tolerate their job as a means to an end.  Then, there will be an unfortunate few who hate their job.  For the most part, my new job is great, it’s just that initial bit where I’m still learning and, at times, feel like I’m groping in the dark.  I just need to stick at it and I’ll get there.

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Another question I’ve been asking myself is what my future mental health looks like.  Anecdotally, lots of autistic people report a worsening of their symptoms as they age.  Strictly speaking, my previous sentence isn’t really accurate.  For general conversation, you could argue it’s directionally accurate, though.

Autism isn’t an illness or disease; it’s just different wiring and different software in the brain.  It’s like 90% of the world runs on Windows, and then there’s the autistic minority running MacOS, and wondering why their machine is running slowly when installing stuff meant for Windows.  So, autism doesn’t technically get worse, but lots of people feel as though it gets worse.

I suspect some of this is a weakening of mental resiliency, meaning autistic people can’t handle the same level of stress and anxiety they used to.  After struggling for so long running incompatible software, the circuits start to overheat and degrade.  I’m conscious of this, and it fuels my desire for FI, and it’s part of what is keeping me going now; I know my earning potential will never be higher than it is now.  

Soy Estúpido

No, I’m not talking about Trump (yet).  On Thursday, Oana went for a walk in the Peaks.  I was working, so I couldn’t join her.  I walked her into town to the bus station, and then said my goodbyes before walking into the city centre for a much-needed coffee.  Starbucks was my destination, as it was the only thing open at 7:30 in the morning.  I ordered my usual: a grande latte.

A short while later, I heard “grande latte” called, so I grabbed my drink and left.  I made it twenty meters and one sip before realising this drink was disgusting.  I checked the sticker, and it was a soy latte.  I’d grabbed someone else’s drink by mistake.  There was no name on the sticker, and just “guest” on the label.  

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I walked back in and the staff all looked at me before one asked if I was David.  I confirmed my name and that I’m an idiot and left with the right drink.  Seriously, soy lattes are disgusting.  I can just about handle oat milk or almond milk, but soy? Nah, that stuff is rank.

This Week’s Walk

We got the train to Rotherham and had a bit of an explore around Boston Park, and a few other areas.  We stopped at a cafe, Emporium of Stories, based in an old church.  It’s great inside and the staff have done a fantastic job decorating and kitting it out.  I ordered a bacon sandwich, and Oana went for a BLT.  We like our bacon crispy, or as my Nan used to describe it, cremated.  We had a good laugh with the staff about it and were expecting good things from the food.

My bacon sandwich cost £6.80, including a 30p charge for brown sauce.  I was expecting maybe some nice crispy bacon on a sourdough roll or something.  What I ended up with was two rashers of bacon on a bog-standard supermarket roll.  To make matters worse, the brown sauce wasn’t even HP, it was Stokes (again, rank).  There wasn’t anything wrong with the sandwich except the price.  For context, a local sandwich chain called Beres, will do a great bacon sandwich for £4.55 that’s bigger and better.  £6.80 was just a piss-take.  

On our walk back to Sheffield, we like to go along the canal.  This time, we were lucky enough to watch a barge go upriver and use some of the locks.  I’ve always been fascinated by locks and how they work, but it’s been years since I’ve seen one used.  For those who don’t know, locks are used on waterways where the water levels are uneven, and they allow boats to be raised or lowered from one section of the water to the next.  The engineering is so simple and elegant, yet complex at the same time.  It’s almost sorcery, and I love it.

Trump

It’s impressive how he manages to constantly outdo himself with something even more stupid than the last thing he did.  This time, it’s referring to toy maker Mattel as a country.  The guy isn’t fit for office.  Look at the recent meeting with Canadian PM Mark Carney, where Trump claimed that the US and Canada don’t do much business.  As the saying goes, you can have your own opinions, but you can’t have your own facts; Canada is one of the biggest trading partners the US has.

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Sometimes I can’t resist throwing my opinions on Trump out there on social media, and the amount of hate I get for it is unreal.  I don’t understand why anyone would vote for this idiot.  The amount of mental gymnastics it must take to look at Trump and think, “yeah, he’s the guy to represent me” is insane.  I just don’t get it.  

Anyway, here are a few of my favourite Trump memes and posts from the past week…

What I’m Doing

Listening: Careless People by Sarah Wynn-Williams

Watching: The Punisher

We are rewatching The Punisher, which is one of the better Marvel shows.  We both enjoyed Daredevil, and before watching the new series on Disney, we wanted to get caught up on all the related content.

Jon Bernthal is perfect as Frank Castle/The Punisher, and it’s one of those castings that just works.  Sometimes you watch a film or show, and it’s obvious you’re just watching someone read lines from a script.  Bernthal becomes The Punisher.

I was browsing Audible for my next listen, and Careless People caught my eye.  I’m about a third of the way into it, and it’s the author’s story of their time working for Facebook.  It’s decent so far, and the author does a good enough job narrating, although I don’t like the way she pronounces the word “data” as “dahtah”.  It’s like nails on a chalkboard.  

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Financial Update

Assets

Premium Bonds: £24,000.00.

Stocks and Shares ISA: £109,030.56.

Fuck It Fund: £4.00.

Pensions: £91,916.82.

Residential Property Value: £239,368.00. 

Total Assets: £464,319.38.

Debts

Residential Mortgage: £184,205.56. 

Total Debts: £184,205.56.

Total Wealth: £280,113.82.

I have now used up my ISA allowance for this year.  Assuming a reasonable amount of growth, I’d be hoping for a balance of at least £115k by the time the next financial year starts.

I’m going to cash in £5k more of my Premium Bonds to make an overpayment on our mortgage.  This will bring the loan-to-value under 75% for when we switch from my staff rate to a public one.  I spoke with the bank on Friday and was told we could get 4.24% for five years.  It’s still a little higher than I’d like, so I’m going to think about it a bit more.  The bulk of our mortgage is on 4.45%, so it is a reduction.  I’m just thinking that there might be a little more room for rates to drop before the end of the year.

Should You Overpay Your Mortgage or Invest Instead?

It’s one of the most common questions in personal finance circles, and one that has no universal answer: should you put spare cash into overpaying your mortgage, or are you better off investing it instead?

Having navigated this question myself, and after many conversations with friends, readers, and fellow FIRE enthusiasts, I’ve come to realise that while the maths matters, the psychology might matter even more.

Let’s break it down.

The Case for Overpaying Your Mortgage

Overpaying your mortgage offers a guaranteed, risk-free return equivalent to your interest rate.  If you think of each unit of currency you own as a little worker earning you money, each unit of currency you owe is doing the reverse.  So, if you pay off debt, you are sacrificing your workers to remove the ones working against you. 

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The benefits are clear. Overpayments reduce your balance and term, potentially shaving years off your mortgage. You’ll pay significantly less in interest over the life of the loan, and for many people, there’s genuine peace of mind in knowing their home is paid off. In the long run, being mortgage-free also gives you greater flexibility with your monthly expenses.

However, there are downsides to consider. The most obvious is the opportunity cost. If your mortgage rate is relatively low, say, between 2% and 4%, and investments could return 6% to 8% annually over the long term, you might be giving up substantial growth by choosing to overpay. There’s also the issue of liquidity. Once that money is used to reduce your mortgage, you can’t easily get it back. If your only significant asset is your home, you could end up being “house rich, cash poor.” Finally, in an inflationary environment, mortgage debt actually erodes in real terms over time, which means aggressively paying it down could mean losing out on that inflation benefit.

The Case for Investing Instead

On the other side of the coin, investing your surplus money offers the potential for higher long-term returns, especially when using tax-efficient vehicles like ISAs, SIPPs, or Lifetime ISAs.

Investing allows your money to grow more significantly over time. It offers greater flexibility, too, because you can usually access your funds if needed, particularly in ISAs. If you start early, you benefit from compounding growth, where your money earns returns on its returns year after year. It also helps you diversify your wealth beyond the property market, which can be important if your home is already your biggest asset.

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But investing isn’t without its risks. Markets go up and down, and returns are never guaranteed. You need discipline to stay the course during downturns, and the temptation to sell or stop investing during volatile periods can derail your plans. There can also be tax implications, depending on the type of account and how much you invest. And while some people are comfortable with the ups and downs of the market, others may find it psychologically harder to cope with than steadily paying down a mortgage.

When Might Overpaying Make More Sense?

Overpaying is often the better choice if you have a high-interest mortgage, are nearing retirement, or if you place a high value on certainty over potential upside. It also suits people who are naturally more risk-averse or who simply feel better emotionally knowing they are reducing their debt.

When Might Investing Be the Better Option?

Investing may be the smarter move if you have a low, fixed mortgage rate and a long time horizon. If you’re already contributing to your pension or ISA, have a solid emergency fund in place, and are comfortable with the occasional market dip, investing gives your money more room to grow. It’s particularly effective for those working toward financial independence who want to build a diverse portfolio of income-generating assets.

What About Doing Both?

The truth is, this doesn’t have to be an either/or decision. A blended approach can offer the best of both worlds. You might decide to overpay your mortgage modestly each month, perhaps £100 or £200, while also putting money into a global index fund through a Stocks & Shares ISA. This way, you reduce your debt while still giving yourself the opportunity for long-term growth.

Over time, you can review your priorities and adjust the balance between overpaying and investing. Life circumstances change, markets shift, and so do our goals.

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Money is about more than numbers. It’s about security, freedom, and what makes you feel in control. While spreadsheets might tell you investing wins over time, the certainty of a paid-off home is hard to beat for some.

I often say: “Optimise for sleep as well as returns.”

So ask yourself: What’s your time horizon? How do you handle risk? Do you want flexibility now, or freedom later?

Both paths can lead to financial independence. The right one is the one that gets you there with confidence.

As always, the decision and responsibility are your own.  If you don’t feel confident or qualified to make a decision, seek impartial advice from a qualified professional.  

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 288: The Hidden Costs of Early Retirement

Hello and welcome back to Mortgage Advisor on FIRE.  This week, I discuss the hidden costs of early retirement. Also, a good, but tiring, week, and yet more insanity from the United States.

Weekly Update

Each week, I think that the news coming out of the US can’t get any crazier, and then we have Trump posting images of himself as the Pope, and RFK claiming that the MMR vaccine contains aborted fetus debris.

I never thought I’d write the previous sentences about real life, yet here we are.  In any other time, the US President posting an image of themselves as the Pope just days after the actual Pope was laid to rest would be enough to call into question their whole presidency.  It’s one of those once-in-a-presidency gaffes that should be enough to shake confidence in the government.  It should be, but it isn’t.

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In the last week or so, in addition to the utterly batshit incidents I’ve mentioned, the Trump regime has argued that chemtrails are real, and somehow the Tango Man managed to sound like a five-year-old who hasn’t done their homework in trying to explain the Declaration of Independence.

He is so fucking stupid that I just can’t… 

The thing is, it’s not just Trump and RFK.  It’s Vance.  It’s the Secretary of State getting schooled by the German Foreign Office, and it’s the leaking of sensitive information via the Signal messaging service.  

Marco Rubio… Ah, yes, another intellectual… I’ll never forget this absolute gem:

Funnily enough, his latest embarrassment involves the German people.  Recently, the German intelligence services classified a far-right party, the AfD, as extremist.  Rubio, the Secretary of State in the US, described this as “tyranny in disguise”.  The response from the German Foreign Office pulled no punches, stating, “this is democracy” and “We have learnt from our history that right-wing extremism needs to be stopped.”  

This wasn’t the end of the issue, though, as JD Vance, one of the most unlikeable people on the planet, claims that the German establishment is rebuilding the Berlin Wall.  

Anyway, enough of that nonsense.

Murder Trial Tonight

On Wednesday evening, we went to an event at Sheffield City Hall called Murder Trial Tonight, produced by Tigerslane Studios.  The concept is great; a trial takes place on stage with performers acting out the roles of judge, barristers, witnesses, and the accused. 

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The whole thing starts on screen with a short film giving some background to the events.  Then, the trial begins.  In this case, it was a husband accused of murdering his wife.  You hear the arguments from the prosecution and defence, as well as their examinations of the witnesses.  Then, the audience acts as the jury and votes guilty or not guilty through a website.  Once the votes are counted, the verdict is read out, and we then see what actually happened on screen to find out if we delivered the correct verdict.

We attended the third trial, and there will be a fourth one announced soon.  I don’t want to spoil it for anyone who may be attending, but it was thought-provoking and entertaining.  It pushed your buttons and made you confront some biases that you may not have realised you held.  

Oana and I cast our votes correctly, I must add.

More Walking

It was an early start on Saturday as we went for another walk in the Peak District.  Our friend, Yvonne, picked us up just after 7am and we drove out to Castleton before setting off to Mam Tor.  Last time we went, it was very foggy and we couldn’t see anything from the summit.  This time it was much brighter and we got some great views across the valley.  

It’s great being out in the fresh air and seeing the natural beauty of this part of the UK.  Sadly, some morons ruin it for the rest of us when they let their dogs poo without picking up after them.  Then, some do pick up after their dogs but then leave the bags of poop on the paths and fields.  I don’t blame the dogs.  It’s the inconsiderate assholes that look after them.  

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We took a different route up to Mam Tor than last time, and even at such an early time, it was busy.  Once we reached the top, we came back the same route we did on our previous trip, arriving back in Castleton.

It’s been years since I had food from a chippy, and we decided to grab some lunch at the one near Peveril Castle.  It wasn’t great.  The chips tasted weird, as did the ketchup.  I left about two-thirds of mine.  

All in all, it was a good day out, but it left us feeling exhausted.

The Hidden Costs of Early Retirement No One Talks About

When people talk about FIRE, the conversation usually leans heavily into freedom; freedom from the 9 to 5, from commutes, from pointless meetings and corporate nonsense. And that’s fair. Those things can wear you down. But in the rush to escape, too few people pause to ask: What exactly am I retiring to?

Early retirement is often sold as the finish line, but in reality, it’s the start of something else entirely. And like anything worth having, it comes with its own set of challenges.  Some are financial, some are emotional, and some simply catch you off guard.

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Retiring From vs. Retiring To

There’s a quote that stuck with me when I was first exploring FIRE: “You need to retire to something, not just from something.” It resonated then, and it resonates even more now.

Too often, people view early retirement as the end goal, as the reward for years of frugality, investing, and disciplined saving. But once the victory lap is over, you’re left with long, unstructured days and the question: Now what?

Without a clear sense of purpose or a framework for how you want to spend your time, early retirement can feel less like liberation and more like limbo.

Loss of Identity and Routine

For many, work is more than just income. It’s identity. It’s structure. It’s the answer to “What do you do?” at social gatherings. When that goes away, especially at a younger age, it can create a void that’s not easily filled.

This hit home for me after redundancy. I wasn’t even fully retired, but I caught a glimpse of what it’s like to have your professional identity stripped away. It’s not just the lack of a title,  it’s the disorientation that comes when your days suddenly have no built-in rhythm.

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Some people thrive in that blank space. Others, myself included, realise they need a sense of direction and a reason to get up in the morning that goes beyond just “not working.”

The Financial Surprises That Creep In

Even the most meticulous FIRE plans can be derailed by the unexpected. Here are a few I don’t see discussed often enough:

Healthcare and Insurance: In the UK, we’re lucky to have the NHS, but early retirees might still face costs for private treatment, dental, or long-term care later on.

Inflation: A few years ago, 3% inflation seemed normal. Now, we’re facing figures that can seriously erode your purchasing power, especially if you’re drawing down from a portfolio too early.

Lifestyle Creep: More free time can lead to more spending, and not always intentionally. Extra holidays, new hobbies, or just more meals out because you can.

Family Responsibilities: As your parents age, or if your children need more help (financially or otherwise), being “retired” can turn into being a full-time unpaid carer — something that affects both your time and your finances.

Boredom, Purpose, and the “Now What?”

From listening to those further along, there’s a honeymoon phase when you hit FIRE. The first few months feel like an extended holiday. You do the things you’ve always wanted to do. You sleep in. You relax.

But once the novelty wears off, you may start to feel restless.

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And here’s the kicker: FIRE doesn’t solve the human need for purpose. If anything, it amplifies the need to find something meaningful; something you want to wake up for.

For me, writing this blog, spending time with Oana, and a real hunger to learn new things give me a reason to keep thinking, creating, and contributing. But if you don’t have something to “retire to,” that blank canvas can feel intimidating and depressing.

Relationship Shifts

When one partner retires early and the other doesn’t, it can lead to tension.  This is not necessarily because of resentment, but because the dynamic has changed. Even when both partners are on the same page, spending more time together (often in the same space) can reveal little cracks in communication or differing expectations of how the day should be spent.  I’m not going to lie, at the end of the working week, it takes a decent amount of convincing from Oana to wake up at 6am for a walk.  It’s worth it, though.

In the context of a relationship, FI is not just about the money.  Couples must talk about shifting responsibilities within the relationship and what each person expects of the other.  

Planning Beyond the Spreadsheet

The FIRE community is brilliant at optimising numbers: withdrawal rates, asset allocations, and tax efficiency. But it’s less focused on emotional preparedness, and that’s just as crucial.

Here are a few questions I recommend asking before you hit “retire”:

  • What does an ideal day look like for me?
  • How will I stay mentally and physically active?
  • What relationships do I want to invest more time in?
  • How will I handle the feeling of being “left behind” when others are still working?

And here’s a practical tip: try a mini-retirement first. Whether it’s a sabbatical, a career break, or a six-month gap, it gives you space to test the lifestyle without fully committing to it.

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FIRE with Eyes Wide Open

Early retirement is not a magic fix for an unfulfilling life. It’s a powerful tool, but only if used with intention.

So if you’re chasing FIRE, chase it smart. Chase it with purpose. Don’t just run from burnout  and instead run towards something that energises you. Build a life you don’t need to escape from.

Because once the spreadsheets are done and the champagne’s popped, that life is yours to live, and design, every single day.

What I’m Doing

Listening: Hope Street by Mike Gayle

Watching: YouTube channels; In Deep Geek, Side Projects, Mega Projects.

Mike Gayle is one of my favourite authors, largely because his characters feel genuinely real. You can imagine them existing beyond the final page, continuing their lives off the paper. Unlike some writers, whose characters seem like puppets moved solely to serve the plot, Gayle’s creations drive the story through their choices, their flaws, and their humanity.

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Hope Street delivers the emotional depth I’ve come to expect from his work. The story centres on Connor, a young man whose mother has been missing for years. Connor is neurodivergent, and the book doesn’t shy away from portraying the real-life challenges that autistic people often face in society. Some of these moments felt particularly close to home. While I initially found aspects of Connor’s character difficult to connect with, by the end of the novel I had few reservations and a great deal of empathy.

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £101,813.84.

Fuck It Fund: £4.00.

Pensions: £90,023.69.

Residential Property Value: £239,368.00. 

Total Assets: £461,709.53.

Debts

Residential Mortgage: £184,205.56. 

Total Debts: £184,205.56.

Total Wealth: £277,503.97.

It was nice to see my pension creep above £90k again, and I’m hopeful that my ISA will not drop below £100k again, especially as I’ll be putting a few thousand more in there next week.

My Fuck It Fund now stands at £4.  Yes, four whole pounds.  This was residual interest back from when the balance in the account was much higher.  I’ll probably do something with it at some point, but it just feels a bit pointless.

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I am going to cash in some of my bonds and use them to max out my ISA for this financial year.  The next priority is getting our mortgage sorted.  I’ve explained in previous posts that as part of my redundancy, I was allowed to retain my staff rates of interest on my mortgage for a year. That time is fast approaching.  Before we switch to a new deal, we want to get our loan-to-value below 75%, as the rates will be lower.  Our current LTV is 76.95%.  Based on our current valuation, we need to reduce the mortgage debt to £179,500, so it will take some time.

One of the most discussed points in FI communities is the “overpay on your mortgage vs investing” debate.  Should your FI plan assume you have no housing costs, or should you factor in mortgage or rent payments into your planning?

I don’t think there’s a right answer to this.  I come back to the “sleep well at night” test; which scenario makes you nervous, and which one makes you more comfortable?

It’s important to remember that this doesn’t have to be an either/or issue.  I think we will adopt a middle-of-the-road approach, where we bring the mortgage payments down to a reasonable level and then let it ride.  Whenever I’ve done the number crunching on this, investing seems to come out ahead of overpaying.  The context matters here, as if you have a mega-high rate of interest on your mortgage, the calculations will look different.

There’s also the point that having a home you own outright is psychologically liberating.  There can’t be too many people who have no rent or mortgage commitments at all.  

At the moment, we pay just under £1k per month on our mortgage.  With some of the rates available, we could drop our payments by roughly £60pm.  Later this year, we plan to move to interest only, which should save us a further £300pm, which can then be invested.

Paying off a mortgage is a great goal to have, but it’s not always the best option.  As always, seek independent professional advice before committing to any major financial decision.  Every person has unique circumstances, and it’s important to get expert advice on your unique situation before throwing money at anything.

That’s all for this week.  Thanks for reading and have a great week. 

DISCLAIMER

The views and opinions in this blog are my own and do not represent the views or opinions of my former, current, or future employers, 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.

Part 287: Another Milestone

Hello and welcome back to Mortgage Advisor on FIRE. This week, I celebrate a new investing milestone. Also, thoughts on the increasing craziness over in the United States.

Weekly Update

I had a great weekend last week with a nice four-day break from work.  On Easter Sunday, Oana and I went for a meal with my Mom and Dad, which is always a special occasion as it’s rare for the four of us to get together.  My parents separated when I was young, but they’re on good terms.  The company was good, obviously, but the food was a bit disappointing.  

On Tuesday, Oana started her new job.  On Wednesday, Oana quit her new job.

This job was working for a large legal firm, and there was a little bit of prestige that came with working for that specific company.  However, the recruitment process left a lot to be desired, but Oana stuck with it.  One major frustration was that they kept claiming to have called her, but the number was invalid.  I could call Oana, as could everyone else.  It was just this one company that had trouble.  So, they ended up having to call me to reach her.  

After weeks of back and forth, the phone issue was resolved.  Someone at their office had written the number down wrong.  The fact that Oana had her phone number correctly stated on her CV and her emails to them didn’t seem to matter.  They also got several details wrong concerning the contract and working hours, which took a fair number of emails to resolve.  

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Red Flags

Despite these red flags popping up all over the place, Oana still wanted to get stuck into the job, that is, until she got there on day one.  It turns out the job was nothing like what was advertised.  There was a disconnect between the information the training staff had, compared to the information the recruitment people had.  It wasn’t even clear if they would grant holidays for things prebooked, with one trainer stating, “We wouldn’t have hired you if we’d known about the holiday.”

It would take too long to list all the other issues that cropped up but suffice it to say, it was a bit of a shit show.  I told her she could quit, on the basis that if she stayed for a few weeks and got sick of it, it would look worse than if she walked out on day one.  Leaving a job after half a day is unusual, and so explaining it with the reason “it wasn’t as advertised” does make sense.  

Cutting Corners

There are three things that businesses seem not to prioritise, and I think it’s damaging to their long-term success.  I’m thinking about recruitment, training, and IT.  Some of the best recruitment and training I had was with Norwich Union (now Aviva) back in the early 2000s.  Rather than training being a series of workbooks, computer modules, and antiquated training systems, there was a lot of person-to-person training.  For a good amount of time, you were paired up with a trainer who guided you through the systems, processes, and policies.  It was thorough and made you feel like they cared about your development.  Funnily enough, compared to many other jobs I’ve had, the bulk of my training group was still there when I left a couple of years later.  When I worked at Lloyds, after two years, I was one of only two people left from my training group of ten.  

So, it’s now back to the drawing board for Oana. 

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Walking

We didn’t go for a walk in the Peaks this week.  Instead, we had a long walk from Kelham Island out to just beyond Meadowhall, before joining the canal and walking back.  In total, we completed almost 19km.  It was great being out in the fresh air, and we saw lots of ducks, geese, and other river life.  At one point, we saw a dead Canada Goose floating upside down, which was a little upsetting.  We see geese every day from our apartment on this river, and the thought occurred that it could have been one of our regular visitors.  

As part of the walk, we popped into an open day at an independent Lego retailer’s warehouse.  It was a bit disappointing.  There were some cool older sets, and a few Bricklink sets (the ones that are developed from fan designs).  Overall, though, it was very expensive for some sets that just didn’t grab us.  

RFK Jr.

For those who have missed this, RFK Jr. is the current Secretary of Health and Human Services in the US.  He’s anti-vax, a conspiracy theorist, and seemingly hateful of autistic people.  He has long been a controversial figure in public health due to his persistent promotion of discredited theories linking vaccines to autism. His recent initiatives and statements have intensified concerns among medical experts, disability advocates, and the autistic community. 

Vaccine-Autism Claims and Misinformation

Kennedy has repeatedly asserted that childhood vaccines, particularly those containing thimerosal, a mercury-based preservative, are responsible for the rise in autism diagnoses. He has cited flawed studies to support this claim, despite overwhelming scientific consensus refuting any link between vaccines and autism. During his confirmation hearings for HHS Secretary, Kennedy declined to unequivocally state that vaccines do not cause autism, instead demanding further data despite extensive existing research. 

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His organisation, Children’s Health Defence, has been instrumental in spreading vaccine misinformation, contributing to vaccine hesitancy and public health risks. 

National Autism Registry Proposal

Kennedy has proposed the creation of a national autism registry, aiming to collect extensive data on individuals diagnosed with autism. This initiative has sparked significant backlash over concerns regarding ethics, privacy, and potential misuse of data. Critics argue that such a registry could lead to discrimination and stigmatisation of autistic individuals. 

Controversial Statements and Public Reaction

In public remarks, Kennedy has made sweeping generalisations about autistic individuals, claiming they are incapable of holding jobs, paying taxes, or engaging in social relationships. These statements have been widely condemned as offensive and inaccurate. Prominent figures from the autistic community, including cast members of Netflix’s “Love on the Spectrum,” have publicly refuted Kennedy’s claims by sharing their personal achievements and advocating for a more inclusive understanding of autism.

Policy Implications and Advocacy Response

Kennedy’s approach to autism has raised alarms among advocacy groups. The Autistic Self Advocacy Network (ASAN) has criticised his nomination and subsequent confirmation as HHS Secretary, citing his history of spreading misinformation and proposing harmful policies. ASAN emphasises that Kennedy’s actions could undermine decades of progress in autism research and disability rights.

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Furthermore, Kennedy’s appointment of individuals with controversial backgrounds to lead vaccine-related research initiatives has been met with scepticism, raising concerns about the direction and integrity of autism research under his leadership.

The Endgame

As an autistic person, I’m nervous about visiting the US again.  This insanity seems to know no end.  I’ve heard people ask why it’s a big deal to have a registry of autistic people.  Let’s think about this from another perspective for a moment, and think about what autism is in the broadest of terms:

  • It’s innate. 
  • It’s part of one’s identity.
  • It’s not an illness.
  • It’s something that misguided people have tried to “cure” or “treat”.
  • It’s not a choice.

Can you think of what else fits those points?  How about homosexuality?  If you find the idea of an autism registry acceptable, how about a homosexuality registry?

Most people, or at least I hope most people, would agree that it’s completely unacceptable to have a list of people linked just because they are autistic or homosexual.  The question that needs asking, and answering, is why such a directory is thought to be necessary.  I came across an interesting theory on this, which is summed up in four bullet points:

  1. Claim that vaccines cause autism.
  2. Campaign against vaccines and continue sowing seeds of doubt about their safety, to try and lower rates of vaccinations.
  3. Create an autism directory, which will create a stigma and/or anxiety about being on the list, meaning fewer people seeking an official diagnosis.
  4. When diagnosis rates drop, point to the drop in vaccination rates and argue it is proof that vaccines cause autism.

A scary sort of sense…

I’m a little annoyed I didn’t come up with this myself, but as I look at that list of points, it makes a scary kind of sense.

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The US is a basket case right now, and they’re seemingly looking at The Handmaid’s Tale as a how-to guide rather than a cautionary note.

If you look back through history, when groups of people are “othered”, discriminated against, categorised, and ridiculed, the next step is usually extermination.  I’m not being alarmist; history has shown time and time again that this happens.  Look at the Jewish people in Europe, or the Nazi’s and eugenics, or the Rwandan genocide.  Throughout history, humans have “othered” those who are different and tried to exterminate them.  

Do I think that autistic people are about to be rounded up and sent to labour camps?  No, not right away.  Then again, I didn’t think the US would start taking people off the streets and sending them to El Salvador, but here we are. 

Trump

Just when you think you can’t find anyone more stupid, Trump appears.

A couple of days back, he was ranting about the disgraceful trade deals that had been signed with various countries, stating that he blamed the President at the time for signing those deals.  You already know where this is going, don’t you?

Yes, it was Trump who signed those deals.  

“Vladimir, STOP”

A recent CNN article states that Trump claimed that he’d stop the war in Ukraine within 24 hours of taking office at least 50 times.  We are now just over 100 days into his second term, and as far as I’m aware, the war is still ongoing.

So, you would think that some diplomatic efforts would be made to stop the fighting, but Trump, simpleton that he is, decided to go on social media and, amongst other things, post the message, “Vladimir, STOP”

I’m not saying that the guy is stupid, I’m just saying that he could walk into any room and the average IQ of those in the room would drop.  If intelligence were a currency, he would be in lifelong debt.  I guess what I’m trying to say is that his brain has fewer folds than the towels in our wardrobe.

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What I’m Doing

Listening: Hope Street by Mike Gayle

Watching: YouTube channels; In Deep Geek, Side Projects, Mega Projects.

The Gap and the Gain: A Motivational Hit That Overlooks Reality

I recently finished this book, and despite wanting to like it, the whole book just made me uncomfortable, even though the core message has some value.  Here’s my more detailed breakdown.

The Gap and the Gain by Dan Sullivan and Dr. Benjamin Hardy is one of those personal development books that sounds immediately appealing: focus on how far you’ve come, not how far you still have to go. It’s about measuring backwards and seeing your progress rather than obsessing over the ideal future you haven’t yet reached.

There’s a lot to like in the idea. For people stuck in self-criticism or perfectionism, it offers a healthier lens. It encourages gratitude, resilience, and momentum.  But the book also has a glaring, uncomfortable flaw: it almost completely ignores the role of luck, chance, and structural injustice in people’s lives.  This is something I’ve discussed before when I looked at Survivorship Bias.

The underlying message, that you can always find a “gain” no matter your situation, is, at best, tone-deaf, and at worst, borderline gaslighting. It assumes that every person’s situation is the natural result of their mindset, decisions, or “thinking patterns,” when in reality, life throws curveballs that no amount of positive reframing can erase.

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Imagine saying to someone who just lost a loved one, or who is trapped in systemic poverty, “Yes, but focus on the gains!”  It’s not just naïve; it’s cruel.

Of course, Sullivan and Hardy would probably argue that the practice of “finding the gain” isn’t about ignoring pain. But the book glosses over this too lightly, never properly wrestling with the truth that some setbacks aren’t learning opportunities; they’re tragedies.

The world isn’t fair. And while resilience and perspective are powerful, they shouldn’t be demanded from people like some moral obligation.

The Gap and the Gain offers useful tools for self-reflection, especially for those who are already reasonably safe, secure, and privileged. But for those going through unimaginable hardship, its message risks sounding hollow, or worse, blaming.  Sometimes, the real “gain” is simply surviving at all and that deserves more respect than the book allows.

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £100,359.95.

Fuck It Fund: £0.00.

Pensions: £87,996.60.

Residential Property Value: £239,368.00. 

Total Assets: £458,224.55.

Debts

Residential Mortgage: £183,840.69. 

Total Debts: £183,840.69.

Total Wealth: £274,383.86.

For the first time, my ISA has gone above £100k.  Moving from five digits to six is a nice feeling, and it’s crazy to think how far I’ve come since I got serious about FI in 2019.  I read something a while back where someone referred to the “Holy Trinity” of £100k in their ISA, their pension, and property equity.  I’ve now hit the ISA goal, and I’m not that far off on the pension.  A good couple of months and my pension could easily shoot above £100k, as it was only a few weeks ago my pension was just over £95k.  Getting to £100k in property equity will take a bit longer.  I have £55,527.31 in property equity at the moment, and with only clearing a few hundred off the debt each month, it will take a few increases in the valuation to do the heavy lifting.

Assuming Pebble Brain doesn’t drop another clanger in the Oval Office, my ISA should finish the calendar year on approximately £110k.  I’ve still got a further £6k of my allowance left for this year, and assuming 6% growth, £110k is pretty achievable.  

Projections

Looking a little further ahead, it’s not going to be that long until my ISA balance is greater than my mortgage balance.  Although it would be tempting to just pay the mortgage off, I think we’ll hang fire until we have enough to clear the debt and still have a good amount left over.

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Mortgage

When I left Lloyds, I was able to keep my mortgage interest rates for up to one year, at which point I’d need to switch to something from the public range.  Well, it’s almost five months down the line, and I’ve not seen anything that looks good enough to warrant switching.  

We’re in an awkward situation where we can’t move to another lender because our building needs a new fire safety report, with our previous one being ripped up alongside many others up and down the country, as questions were raised over its authenticity.  Until this is resolved, we will be stuck with our current lender.

The plan for now is to get a new deal as soon as we spot one with Lloyds that we’re happy with.  We will then hammer the balance down a little to reduce our LTV, before switching to interest-only.  Then, we’ll put more money into investments whilst inflation reduces the debt, and once we have enough in our accounts to pay the mortgage off and still have funds left, we will pull that trigger.

That’s all for this week. Thanks, as always, for reading. I hope you have a great week ahead.

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 286: If you tolerate this…

Hello and welcome back to Mortgage Advisor on FIRE. This week I wanted to avoid politics, but *gestures at… everything*

Let’s just get into it…

Weekly Update

Another week down, another week closer to FI.  I’m afraid there’s not much to report from the early part of the week, as it was taken up entirely by work.  I feel as though I’m getting back into the routine of being in a full-time job, and I think I’m finding my feet in the role.  I’m comfortable talking about mortgages, it’s just a matter of getting used to another way of doing things after spending 14 years at Lloyds.

During the week, Oana and I went for some food shopping after work, and we decided to give a nearby food hall another try.  I’m talking about Cutlery Works, which is on the outskirts of Kelham Island.  When it first opened, it was great.  There was a fantastic selection of vendors, including a pie and mash place, a poutine vendor, an Indian, and a pizza place.  It was always busy as well.  It was even busy during covid, but a couple of years ago, it just started going downhill.  The cleanliness declined, as did the selection of vendors.  The online menu became more difficult to use, and they stopped offering loyalty points.  

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So, we thought we’d give it another go.  The tables were filthy and sticky, which is never a good sign.  Thankfully, they’d reverted back to QR codes for their menus after having RFID chips that just didn’t work.  It appears as though they’ve also done away with table service, so rather than ordering and having someone bring your food and drink to you, they now charge you a service fee, but you have to go and collect your food.

On the positive side, the food was good.  Oana ordered from Ma-Ba, which is also our default choice of Indian takeaway.  I ordered a burger, which was decent as well.  So, on the whole it was good food in a shit location.  I doubt we’ll go again.  It just feels like service everywhere is getting worse, and we’re paying more for the privilege.  

The Death of Customer Service

The Guardian’s recent article, “The death of customer service: why has it become so, so bad?”  adds to my belief that customer service is getting worse, and has been in decline for several years.

A significant contributor to this decline is the disempowerment of frontline staff, who are often constrained by rigid scripts and limited authority. In contrast, companies that empower their employees tend to deliver superior customer experiences.

It shouldn’t need spelling out, but companies that give their staff autonomy and trust their judgement tend to be better places to work.  Staff who are happy and empowered to use their judgment will produce better customer outcomes.  

The Consequences of Disempowerment

The article points out that 78% of people feel frustrated when dealing with customer service, spending between 28 and 41 minutes weekly in such interactions. This dissatisfaction is exacerbated by customer service representatives who lack the autonomy to resolve issues promptly, leading to prolonged and ineffective service experiences.​

Although I think autonomy is part of the problem, I don’t think it’s the only factor.  Micromanagement, low pay, and gaslighting about benefits are all related.  I saw one job advert a while back that had “a competitive pension” listed as a benefit, which ended up being the legal minimum.  Much like when someone says they’ve paid their bills on time, it’s not the flex you think it is when all you’re doing is the absolute minimum required.

The Power of Employee Empowerment

Empowering employees involves granting them the authority and tools to make decisions that benefit the customer without constant managerial oversight. This approach not only enhances customer satisfaction but also boosts employee morale and engagement.​

A few years back, I was studying Occupational Psychology for an MSc.  This was when I first came across Zappos, a footwear retailer based out of Las Vegas, which is famous for exceptional customer service.  It’s not rocket science how they achieve this; they just give their staff the authority to do what’s needed.

The other major piece of the puzzle is training.  I’ve worked for companies that have provided excellent training, and some where it’s been awful.  What I’ve found is that the quality of the training tends to correlate with how much you’ll enjoy working for that employer.

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“No one wants to work any more!”

I don’t think it’s that people don’t want to work anymore.  I think it’s more that people aren’t willing to be taken advantage of.

Weekend Walkies

On Good Friday, we were supposed to go for a walk with our friend Yvonne, but she wasn’t feeling great.  On Saturday, Oana and I went for our own walk, completing over 11km.  We stuck to the city and weaved our way through various parks and had a nice time.  It would have been good to do another walk in the Peaks but we were both tired and didn’t feel like massively exerting ourselves, but it was nice to be in the fresh air.  We met lots of friendly dogs, including a golden retriever who came right up to me as I was sitting on a bench.  I gave him lots of head scratches, and he was smiling from ear to ear.  We also had one tiny dog following us for a portion of our walk, and it was one of the most excitable dogs I’ve ever seen.  

More Trump Madness and RFK

There’s a line from a book I read a couple of years ago that I’ve saved for moments like these;

Jackson opened his mouth twice but made no sound as he tried to process the utter stupidity he’d just been witness to.  The problem was there were so many layers to the stupidity that when he peeled one off to marvel at it, there was another one right under it.

~ Iron & Blood by Joshua Dalzelle

This is what it’s like every time I open up the news and see what stupidity Trump and his minions have come out with this time.

The most recent one from Trump is regarding his comments on Congo, the second largest country in Africa and the eleventh largest in the world;

“Many many people come from the Congo. I don’t know what that is, but they came from the Congo.”

Fuck me… how can one person be so stupid and ignorant, yet get to a position of such power?  This is the same guy who, when meeting the Israeli PM, went on a rant about how the Nazis showed “signs of love” to their victims of the Holocaust.  

Now, on to RFK, and his recent comments about autistic people…

“And these are kids who will never pay taxes, they’ll never hold a job, they’ll never play baseball, they’ll never write a poem. They’ll never go out on a date. Many of them will never use a toilet unassisted.”

When something is so obviously and outrageously offensive and ignorant, it can be difficult to add anything to it.  Some statements just stand under their own hateful power.

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It’s easy to hear these things and laugh at the stupidity on display, but it’s actually deeply worrying.  Let’s take a moment to go back to Germany in 1933.

The Rise of the Nazi Party: How They Turned a Nation Against “Others”

When we think of history’s darkest chapters, few are as sobering, or as instructive, as the rise of the Nazi Party in Germany. Their journey from fringe extremists to rulers of a modern European state offers a chilling example of how dangerous ideologies can take hold, especially when fear, economic struggle, and propaganda combine.

But it wasn’t just about political power. The Nazi regime succeeded, in part, because it weaponised social division, isolating anyone who didn’t fit their narrow definition of a “true” German. Here’s how they did it.

A Nation in Crisis

After Germany’s defeat in the First World War, the country was left battered, economically, politically, and emotionally. The Treaty of Versailles demanded heavy reparations, causing hyperinflation and poverty, while democratic leaders struggled to govern amid the chaos.

Into this storm came the National Socialist German Workers’ Party; the Nazis, led by Adolf Hitler. He promised to restore national pride, revive the economy, and create a strong, unified Germany. To many suffering Germans, it sounded like salvation.

*cough* Make America Great Again *cough*

Propaganda, Fear, and the Politics of Blame

The Nazis didn’t rise to power overnight. They built their movement slowly, mastering propaganda and public spectacle. Hitler’s speeches, backed by posters, films, and tightly orchestrated rallies, painted a compelling picture: Germany had been betrayed by enemies within, especially Jews and communists, and only radical change could save the nation.

In the chaos of the Great Depression, people were looking for answers. The Nazis provided simple ones, scapegoating minority groups and promising rebirth.

By 1932, they were the largest party in the German parliament. In January 1933, Hitler was appointed Chancellor. Weeks later, following the suspicious Reichstag Fire, he was granted emergency powers, effectively ending democracy.

Turning a Society Against Its Own

Once in power, the Nazi regime moved quickly to isolate and persecute anyone seen as “other.”

Jews were vilified in every sphere of public life.  Portrayed as untrustworthy, subversive, and dangerous. Anti-Semitic laws stripped them of rights, livelihoods, and dignity. The infamous Kristallnacht pogrom in 1938 marked a violent turning point, with synagogues burned and thousands of Jewish businesses destroyed.

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Other groups were targeted too: Roma people, disabled individuals, LGBTQ+ communities, political dissidents, and religious minorities like Jehovah’s Witnesses. These people were branded as threats to the so-called “people’s community” (Volksgemeinschaft).

The regime didn’t just isolate them socially. It physically removed them through imprisonment, forced labour, and eventually mass murder. The Holocaust was the result of this slow, calculated campaign of dehumanisation.

What is happening in the US at the moment, with people being deported, and trans rights being trampled on, is a direct call back to the tactics the Nazis used.

A Lesson That Still Matters

What happened in Nazi Germany wasn’t inevitable. It was manufactured. Through a mix of propaganda, fearmongering, and the ruthless scapegoating of minorities, the Nazis created a society where cruelty became normalised.

There’s an enduring lesson here: when people in power demonise certain groups and strip away empathy, history shows us just how quickly things can unravel. The warning signs are always there, the question is whether we choose to see them.

I’m going to end this section of the blog with a poem and a quote.  The poem is one you’ve probably seen before, but I think it needs repeating now:

“First they came for the Communists
And I did not speak out
Because I was not a Communist

Then they came for the Socialists
And I did not speak out
Because I was not a Socialist

Then they came for the trade unionists
And I did not speak out
Because I was not a trade unionist

Then they came for the Jews
And I did not speak out
Because I was not a Jew

Then they came for me
And there was no one left
To speak out for me”

~ Martin Niemöller 

And for the quote, I’m calling on an episode of Star Trek: The Next Generation:

“You know, there are some words I’ve known since I was a schoolboy: ‘With the first link, the chain is forged. The first speech censored… the first thought forbidden… the first freedom denied – chains us all irrevocably.’ Those words were uttered by Judge Aaron Satie, as wisdom… and warning. The first time any man’s freedom is trodden on, we’re all damaged.”

~ Captain Jean-Luc Picard

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What can we do?

We can stand up for our rights, and the rights of those we are being forced into “othering”.  Whether you are autistic, or trans, or something else entirely, we can’t let assholes on a power trip divide us.

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £97,070.38.

Fuck It Fund: £0.00.

Pensions: £85,992.54.

Residential Property Value: £239,368.00. 

Total Assets: £452,930.92.

Debts

Residential Mortgage: £183,840.69. 

Total Debts: £183,840.69.

Total Wealth: £269,090.23.

I’ve pumped some more money into my ISA, and I’m just £6,500 away from maxing out my allowance for this financial year.  Had it not been for the orange moron in the White House, my ISA and pension would both be over £100k by now.  The one silver lining is that unit prices are low, so I can get more for my money.

Oana is starting her new job this week, and with two incomes coming in again, we should be able to throw much more into investments. Assuming standard rates of return, we should be looking at our ISAs and pensions clocking in at a combined value of over £1,000,000 in ten years, maybe less.

The thing about compound growth is that once you get to a certain point, the growth starts behaving more like a runaway train.  If you have £250k in an ISA growing at 8%, the growth is £20k p/a, which is the current limit for personal contributions.  We are entering the realm of Coast FI.  

The Gap and the Gain

I’ve almost finished a book, The Gap and the Gain, which a friend recommended.  The concept is simple, but one of those that needs spelling out because we are all prone to living in the gap.

At its core, it’s about how we measure progress and how that measurement can either motivate us or slowly erode our happiness.

What Is “The Gap”?

The Gap is the space between where you are now and your ideal future. It’s the difference between your current reality and that perfect image in your head, like the perfect body or the perfect business.

The problem is that the ideal is always moving. No matter how much you achieve, you’ll always feel behind. It’s demoralising, and over time, it breeds frustration, self-doubt, and even burnout.  It can be best explained by attempting to reach the horizon.  You can see the horizon, but as you try to reach it, it always moves further back.

What Is “The Gain”?

The Gain is the opposite. Instead of measuring yourself against an ever-moving ideal, you look backwards at how far you’ve already come.

It’s about recognising your growth, celebrating the progress you’ve made, and using that as fuel to keep going.

In “The Gain,” you’re not chasing perfection. You’re building confidence by tracking real, tangible wins, however small. It’s a mindset rooted in gratitude and perspective, and it’s a game-changer.

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Why This Matters

Whether you’re chasing FIRE, launching a business, or just trying to be a better version of yourself, living in The Gap can feel like you’re always chasing and never arriving.

But if you shift your focus to The Gain, you begin to see just how much progress you’ve already made. You appreciate the steps taken, the lessons learned, and the growth that’s taken place.

It’s a mindset that doesn’t just make you more resilient; it makes the journey far more enjoyable.

How to Live More in “The Gain”

Tracking your progress and visualising it can help.  I’ll often look back at my graphs and get a kick out of the steady increases on display.  Another technique is to reframe setbacks.  Instead of seeing a failure as proof you’re not “there yet,” you can look at what it’s taught you.

Also, don’t be afraid to celebrate wins: Don’t wait for the big goal to pop the champagne. Celebrate the milestones along the way.  At the same time, don’t let detractors bring you down.

I don’t think anyone can ever stop wandering into the Gap from time to time.  That’s just human nature.  But if you can recognise when you’re there, and have methods to push yourself back out of the Gap and into the Gain, it can only bring more contentment, confidence, and motivation.

That’s all for this week.  Thanks for reading, and I hope you have a great week ahead.

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 285: Thoughts and Tariffs

Hello and welcome back to Mortgage Advisor on FIRE.  This week, I take a look at the recent market volatility.  Also, the basics of FI.

This week’s title comes from a post I saw on social media where someone was complaining about Trump crashing the economy. From what I could gather, they were a former Trump supporter. Someone commented;

“Thoughts and Tariffs, my guy… Thoughts and Tariffs.”

There’s an old saying in investing circles: Markets hate uncertainty. It doesn’t matter whether the news is good or bad; what matters is knowing what you’re dealing with. But when it comes to Donald Trump’s approach to tariffs and trade, uncertainty isn’t a bug, it’s the whole system.

Now into his second term, Trump has picked up right where he left off by doubling down on tariffs, reigniting trade tensions, and bringing that same erratic, improvisational style that rattled markets throughout his first presidency. If investors were hoping for a more stable, strategic approach this time around, it’s become clear: that’s not on the menu.

What we’re seeing instead is a return to form with trade wars by tweet, off-the-cuff policy shifts, and a general disregard for the global consequences. For those of us on the path to financial independence and early retirement, this raises some serious questions. Not about politics, but about planning. How do you invest in a world where the rules can change overnight?

The Strategy (if we can call it that)

Tariffs, in theory, are a tool to protect domestic industries by making imported goods more expensive. The idea is to give local producers a competitive edge, support jobs, and shrink trade deficits. In practice, they often lead to higher prices for consumers and retaliatory measures from other countries, escalating into full-blown trade wars.

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Trump’s use of tariffs doesn’t follow the usual playbook. One week, China is the enemy; the next, it’s all smiles and handshake deals. Mexico, the EU, even Canada – no trading partner is safe from being strong-armed, sanctioned, or suddenly declared “very unfair.”

This erratic approach creates what economists dread: a climate of policy uncertainty. And uncertainty, as any long-term investor knows, corrodes confidence, slows growth, and warps decision-making from the boardroom to the building site, all the way down to the individual investor watching stocks behave like a rollercoaster.

The Global Ripple Effect

Trump’s renewed trade manoeuvres are already sending ripples, if not outright shockwaves, through the global economy. Supply chains that only just recovered from the COVID-era disruptions are now facing new tariffs, higher costs, and renewed geopolitical tension.

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It’s not just about the US and China, either. Europe, Latin America, and Southeast Asia are all caught in the fallout.

For investors, this means more volatility, possibly more inflation, and more uncertainty over earnings, growth, and even central bank policy. The impact is systemic, not isolated.

The Cost of Playing Chicken

One of the most damaging aspects of Trump’s trade approach is the lack of consistency. Markets can price in bad news. They can’t price in constant U-turns or chronic dipshittery.

What we’re seeing now feels less like economic strategy and more like theatre with a price tag. Announce a sweeping new tariff plan, watch markets nosedive, then walk it back, or replace it with something even more chaotic, and watch the rebound.  

For businesses trying to plan capital expenditure, hedge currency risk, or secure long-term contracts, this unpredictability is toxic. For consumers, it means rising prices, and for investors? It’s a wild ride, and not in a good way.

In FIRE terms, this creates three major challenges:

Asset volatility: Markets react violently to policy noise. If your portfolio is heavily equity-based, this kind of instability can throw off short-term returns and long-term projections.

Inflation uncertainty: Tariffs fuel inflation. Higher prices mean your target FIRE number may no longer stretch as far as you’d planned. That’s a big deal for those who’ve already left traditional work behind.

Geopolitical risk in global holdings: International diversification has always been a hedge. But now, entire regions are becoming politically riskier as trade deals collapse or get rewritten on a whim.

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What Can Investors Actually Do?

It’s tempting to tune out the noise and stick with the basics, and honestly, that’s what I’m going to do.  That doesn’t mean you should just ignore what is going on in the world.  Use this as an opportunity to refresh your memory on the basics of FIRE investing and go back over your plans, your budget, and your projections.  

The Bottom Line

Trump’s second-term tariff playbook isn’t much different from his first; it’s just louder, faster, and arguably more reckless. Whether or not it serves his political base, it’s a destabilising force for global markets and a thorn in the side of long-term investors.

For those of us building towards, or living off, the fruits of financial independence, the lesson is simple: don’t count on the adults being in the room.  The Orange Menace will not be in office forever, and to some degree, it’s just about surviving his term.  He’s a bit like a storm passing through; it’s not intelligent, it’s going to destroy things at random, it’s mostly hot air, and everyone is glad to see the back of it.

Transfer of Wealth

I would honestly love to see the trading records of some of the very wealthy for the past few months because the way the market has behaved is ideal for those looking to make some serious money.  The only thing is, to make that money, you need to either be very good at predicting things or you need to have advanced knowledge.  Let’s take a look at recent events…

Trump announces a series of tariffs that cause the market to drop.  When prices drop, it’s a great time to pick up more units as they are being sold for less.

Trump posts on social media that it’s a great time to buy stocks.  Shortly after, he suspends some of the tariffs, which causes the market to surge.  

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Buy low, sell high, and make money.

It’s one thing when you do this through hard work and analysis.  If you can exert massive influence over the market, and you then boast in the Oval Office about how much money your friends made, it just feels a bit dirty.

All this is just another example of how wealth is accumulated by the already wealthy.  They will not have been selling whilst the market was dropping.  Instead, they’ll have been snapping up more and more units before selling them following the rebound.

Weekly Update

I don’t have much to report from the first part of the week, as it was just the normal daily routine of work, dinner, sleep, and repeat.  On Friday, I finished early to go to a FI event with a good buddy of mine.  It was the Financial Freedom Tour presented by Alan and Katie Donegan.  I didn’t really know what to expect from this, as I’m not that familiar with their stuff.  I arrived at the venue a little early and waited for my friend outside.  As I waited, I was surprised by the types of people walking in.  I had expected a younger crowd made up mostly of those in their 20s, 30s, and 40s.  The age profile was much older, though.

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We had a quick chat with Alan and then approached a table with a few people already seated.  We said hello and joined them: three middle-aged women and an older gentleman.  It was a bit awkward for me and my mate because these people were not as nerdy as we are, and it was pretty obvious they were not as invested in the FI journey.  There’s nothing wrong with any of that, but we had hoped to be amongst people who were as nerdy as we are and who get as excited by a well-crafted spreadsheet as we do. 

Disappointing

The event was, I’m sorry to say, a bit disappointing.  The Donegans’ story is cool, and they’ve done well to get to where they’re at.  It just felt a bit too much like an opportunity for them to flex in public while lapping up the adulation.  

The older man who sat with us was new to this scene, and he asked why, if the process of investing is so simple, do we feel the need to keep reading about it, listening to podcasts about it, and attending events about it.  It’s a great question.  I explained that while the mechanics of investing are extremely simple, the psychology of it is more nuanced.  Investing over the long term is as much about psychology as it is about knowing the facts.  When people panic as the market drops, it’s not reason that makes them panic; it’s emotion.  Whether we like it or not, much of our decision-making is emotional.  By immersing ourselves in the material and the community, we keep ourselves focused and on track.  

There was one part of the event where I was just thinking “what the actual shit?”  One of the women at our table was talking about her kids and how they don’t want their investments moving around “because they’re autistic.”  I don’t see how one impacts the other.  I mentally debated whether I should point out that I’m autistic and that I found her whole tone a little insulting, but I couldn’t be bothered to engage.

More Walks

On Saturday, Oana and I went for a long walk.  We started by heading to the Botanical Gardens and then walked down to Sharrowvale, where we stopped for a bit of food.  We bought some donuts from a little bakery and then went to a place called Urban Pitta.  They do, as you might expect, pittas and salads.  We both ordered a salad with chicken, tzatziki, and a few other bits.  Once the food was ready, we took it over to Endcliffe Park, where we sat and demolished the salads; they were incredible.  

After eating, we walked up to Forge Dam, and up to Ringinglow, where was paid a brief visit to the alpacas and pigs.  Then we started the journey back home.  It was a long, long walk but very enjoyable.  As much as we enjoy walking with our friends, it’s nice to have some time with just the two of us.

After six hours of walking, having covered 16km, we were spent.  Oana’s knee was hurting as her foot got caught in a hole, and it twisted the joint.  Shortly after, I rolled my ankle a little on some loose rocks.  We decided it was the right time to call an Uber.

When we got home, we were absolutely exhausted, but we still had things to do in the apartment.  Being an adult is just a never-ending cycle of dishes, hoovering, cleaning, and cooking.  

All in all though, it was a nice day.  

What I’m Doing

Listening: Dust by Hugh Howey.

Watching: YouTube channels; In Deep Geek, Side Projects, Mega Projects.

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £93,077.31

Fuck It Fund: £0.00.

Pensions: £86,229.60.

Residential Property Value: £239,368.00. 

Total Assets: £449,174.91.

Debts

Residential Mortgage: £183,840.69. 

Total Debts: £183,840.69.

Total Wealth: £265,334.22.

The markets have bounced back a little, but I’m still some way off my all-time highs.  I invested a further £9,000 in my ISA, but it’s still a few grand short of where it was around Week 260.

I’m not overly concerned about the recent slump because I’m still a few years from FI.  Whilst prices are low, I can snap up more units.  It’s just a shame I don’t have readily accessible funds to max out my ISA now.

The index valuation of our property increased in the recent update.  My lender typically updates their valuations at the start of each quarter, and ours increased by a couple of thousand.  

A Quick Refresher: The Basics of Financial Independence

For readers new to the concept, let’s take a moment to zoom out. At its core, financial independence isn’t about beating the market, outsmarting economic policy, or living like a Victorian monk on a diet of lentils and candlelight.

It’s simple:

Spend less than you earn.

Invest the remainder.

Repeat until work becomes optional.

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That’s it. No fancy algorithms or crypto hype. No “hacks.” Just a commitment to living below your means and channelling the surplus into income-generating assets, typically low-cost, globally diversified index funds.

Why index funds? Because they give you market exposure without the extortionate fees or the need to pick individual stocks. You’re buying a slice of the entire economy and betting that, despite recessions, political nonsense, and the odd tariff-fuelled tantrum, capitalism will keep doing what it’s always done: grow.

If you want a back-of-the-napkin way to understand how long it’ll take your investments to double, you can use the Rule of 72. Just divide 72 by your expected annual return. If your portfolio returns 8% a year, it’ll double roughly every 9 years. That’s the power of compounding, and it’s why time in the market beats timing the market every single time.

So when Trump torpedoes the S&P 500 with a random tariff announcement, the FIRE mindset isn’t to panic-sell. It’s to stay the course, maybe even buy a bit more while it’s on sale, and remember that we’re playing the long game.

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 284: The Math ain’t Mathin’

Hello and welcome back to Mortgage Advisor on FIRE, with a brand new logo! This week I consider different options for the new financial year. Also, a great walk in the Peak District, and more stupidity from you-know-who.

Weekly Update

I had my first appointment with a client at my new job this week, and my diary will be getting filled up going forward.  I’m looking forward to getting started properly now and seeing what I can do.  I mentioned recently that I was feeling stuck at Lloyds, like I wasn’t able to push myself due to the nature of the role.  I’m feeling like I’ve got a bit of fire back in me to get stuck into this role and succeed.

Mother’s Day

Rewinding to last Sunday, we were all looking forward to a nice lunch for Mother’s Day.  The four of us, myself, Oana, my Mom, and her husband, booked a place we’ve not tried before.  It was disappointing.  I had a burger and fries that just felt a bit cheap, like it was something you’d have seen at a school lunch.  We all felt the same.  It was also expensive.  My burger and fries were £15, compared to a burger and fries I’d had the day before that was much nicer and was only £11.  I wasn’t expecting anything fancy, as we all wanted something chill and laid-back, but this was just poor.

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After lunch we stopped for a drink at a cafe we’d only had cake from before.  Again, it was disappointing.  For four drinks and two small brownies, we paid a fraction under £30, and the quality of the food, the drink, and the service was poor.  They got our order wrong, missing out on things we’d asked for and paid for, so we had to get that corrected.  The attitude of the staff was passive-aggressive, and their stance on stamp cards was bizarre.  Every cafe I’ve been to has done one stamp per drink.  Here, it was one stamp per order.  So, we could have done four separate orders and got four stamps, but because we did a group order, we only got one.  Not that it matters, as we will not be going back.  

The day improved after that as we went for a little walk around the city before heading home and chilling out.

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Hospital

I had an MRI on my elbow on Tuesday evening, and it was the most uncomfortable one I’ve ever had.  In my life, I’ve had many MRIs on my head, neck, both shoulders, my right elbow, my back, and several on my legs.  And I still don’t have any superpowers.

Anyway, I’m quite relaxed about the whole process.  I just close my eyes and usually doze whilst it’s happening.  This time was different.  I had to go into the machine on my front.  My right arm was stretched out ahead of me and wrapped in some material.  I also had to have my left arm stretched ahead of me with a pad squashed down that side also, meaning I was being pressed in from both sides because of the pads and wrapping.  I also had the large, over-ear headphones that they make you wear.  Due to the position I had to be in, I had to twist my neck to one side, again because of the padding and wrapping.  I couldn’t have anything in my hair, and so it fell over my face.  This meant I was very, very warm, and breathing just made me warmer because my whole face was covered with hair.  I had to stay like this for half an hour.  Not fun; I would not recommend it.

I should get some results in a few weeks, but I’m not expecting them to find much.  I’ve already had an MRI for this, as well as CT, X-ray, and ultrasound.  Whatever the issue is, it does not seem to be showing up on scans.  

The Vet

The last few times we’ve had to take Poppy to the vet or the cattery, it’s been a struggle.  She gets more stressed each time.  The last incident was very stressful all around, and it was clear we needed to do something different.  I suggested we get her basket out a few days before so she could see it, get used to it, and calm down.  It worked! When the time came, she was still a little stressed, but she ended up going into the basket herself without us needing to get scratched and clawed at as we tried to push her in.  

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Normally, when we go to the vet, it’s fairly busy, and we are kept waiting a bit.  This time, we walked in and no other person was waiting.  We were called straight in, and we were walking back out less than ten minutes later.  We also saw the vet we like the most, a young guy called Henry.  He is always friendly and fusses over the cats we’ve had.  All in all, a successful check-up with minimal stress.

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Mushroom Bourguignon

Although the recipe card calls it a mushroom bourguignon, it’s not exactly traditional.  We’ve also made a few tweaks to the recipe to cater to our tastes, but I have to say it’s the best mushroom dish on the planet.  I said what I said.

I start by heating some olive oil before adding diced brown onion and carrot.  After maybe ten minutes, I add some sliced mushrooms, normally flat white and shitake.  I let this cook for a few minutes and then add garlic, tomato puree, and red wine stock, with some thyme and a little flour.  Once all this is mixed in, I add a little dark soy sauce and some sugar.  

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At the same time I’m doing this, I’ve got some chopped potatoes (skin on) on the boil.  When they’re ready, I mash them with salt, pepper, salted butter, milk, chopped fresh chives, and some grated mature cheddar.  

Then, the two are served together, and it’s like you are eating in the halls of the gods.  

Donald Trump

*sigh* let’s just get into it…

Although it was written a few years ago, it is still very much relevant now.  A British writer, Nate White (@Ipitythepoorfo1 on X) summed it up best when asked why British people don’t like Trump:

“Why do some British people not like Donald Trump?

A few things spring to mind. Trump lacks certain qualities which the British traditionally esteem. For instance, he has no class, no charm, no coolness, no credibility, no compassion, no wit, no warmth, no wisdom, no subtlety, no sensitivity, no self-awareness, no humility, no honour and no grace – all qualities, funnily enough, with which his predecessor Mr. Obama was generously blessed. So for us, the stark contrast does rather throw Trump’s limitations into embarrassingly sharp relief. 

Plus, we like a laugh. And while Trump may be laughable, he has never once said anything wry, witty or even faintly amusing – not once, ever. I don’t say that rhetorically, I mean it quite literally: not once, not ever. And that fact is particularly disturbing to the British sensibility – for us, to lack humour is almost inhuman. But with Trump, it’s a fact. He doesn’t even seem to understand what a joke is – his idea of a joke is a crass comment, an illiterate insult, a casual act of cruelty. 

Trump is a troll. And like all trolls, he is never funny and he never laughs; he only crows or jeers. And scarily, he doesn’t just talk in crude, witless insults – he actually thinks in them. His mind is a simple bot-like algorithm of petty prejudices and knee-jerk nastiness. 

There is never any under-layer of irony, complexity, nuance or depth. It’s all surface. Some Americans might see this as refreshingly upfront. Well, we don’t. We see it as having no inner world, no soul. And in Britain we traditionally side with David, not Goliath. All our heroes are plucky underdogs: Robin Hood, Dick Whittington, Oliver Twist. Trump is neither plucky, nor an underdog. He is the exact opposite of that. He’s not even a spoiled rich-boy, or a greedy fat-cat. He’s more a fat white slug. A Jabba the Hutt of privilege.

And worse, he is that most unforgivable of all things to the British: a bully. That is, except when he is among bullies; then he suddenly transforms into a snivelling sidekick instead. There are unspoken rules to this stuff – the Queensberry rules of basic decency – and he breaks them all. He punches downwards – which a gentleman should, would, could never do – and every blow he aims is below the belt. He particularly likes to kick the vulnerable or voiceless – and he kicks them when they are down.

So the fact that a significant minority – perhaps a third – of Americans look at what he does, listen to what he says, and then think ‘Yeah, he seems like my kind of guy’ is a matter of some confusion and no little distress to British people, given that:

  • Americans are supposed to be nicer than us, and mostly are.
  • You don’t need a particularly keen eye for detail to spot a few flaws in the man. 

This last point is what especially confuses and dismays British people, and many other people too; his faults seem pretty bloody hard to miss. After all, it’s impossible to read a single tweet, or hear him speak a sentence or two, without staring deep into the abyss. He turns being artless into an art form; he is a Picasso of pettiness; a Shakespeare of shit. His faults are fractal: even his flaws have flaws, and so on ad infinitum. 

God knows there have always been stupid people in the world, and plenty of nasty people too. But rarely has stupidity been so nasty, or nastiness so stupid. He makes Nixon look trustworthy and George W look smart. In fact, if Frankenstein decided to make a monster assembled entirely from human flaws – he would make a Trump.

And a remorseful Doctor Frankenstein would clutch out big clumpfuls of hair and scream in anguish: ‘My God… what… have… I… created?’ If being a twat was a TV show, Trump would be the boxed set.”

 ~ Nate White

The Tariffs

It’s impressive that he manages to keep outdoing himself with stupid ideas.  These tariffs are just the latest in a series of mindbogglingly dumb decisions made by the President.  To understand why it’s dumb, you need to understand what a tariff is in this context.

A tariff is basically a tax or duty levied against imports.  So, those wanting to have their products exported to the US will have to pay more to do so.  Those costs will be passed on to the consumer, i.e. the people in the country that are enforcing the tariff.  So, Trump wants to make Americans better off by making the things they buy cost more.  The math isn’t mathin’.

Tariffs are not always a bad thing, though. Used as a precision instrument rather than a sledgehammer, they can help an economy.  They should be used tactically and not just applied to all.  The only thing Trump has achieved here is to simultaneously annoy the rest of the planet and make life more difficult for working Americans.  

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Another claim made by Trump was not just ignorant but also offensive.  He stated that between 1789 and 1913, the US was proportionately the wealthiest it has ever been.  For much of that time, until 1865, a significant amount of manual labour was completed by those who were not paid and had no choice but to work.  I’m talking about slavery.  Banging on about how wealthy your country was when it was built on the back of slave labour is crass and a sign of the absolute vacuum that is present between his ears.

The 1700s, 1800s, and early 1900s were hardly halcyon days in the US.  Poverty was widespread, and people suffered.  The fact that so many people in the US are buying into this bullshit should be a national embarrassment, and I suspect history will not look kindly upon them.

Lego

This week I received the Lego display stands for the Venator model, and the Millenium Falcon, which I don’t yet own.  Emphasis on “yet”.  I’m very happy with how the Venator looks now that it’s on a proper stand:

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More Walks in the Peak District

It was another early start on Saturday morning as our good friend Yvonne picked us up at 7am to drive us to the Peaks.  We parked near Ladybower and then walked up to the summit of Win Hill, which is 462m above sea level.  The views were spectacular and not obscured by any fog, which made a nice change for me.  

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The initial climb was tough, with an extremely steep incline over rocks and fallen trees and branches.  We had to stop a couple of times on the way up to catch our breath and have a drink of water.  It felt good to break out of the tree cover as we approached the summit, though.  Once we were out of the trees, it was then a more gentle climb to the top where we could see for miles around.

After we finished taking in the sights, we set off down the other side of the hill.  It was a long walk through fields and more woods.  At one point, the tree cover was so dense that it felt almost like nighttime.  At this point, we were about three hours into our walk and the time came to turn back on ourselves and walk along side the reservoir to our left.  What would have been a pleasant, relaxing walk was marred a little by many bikers speeding along the road on the other side of the water.  The sound became a constant drone that drowned out the sounds of the water, the wind, and the wildlife.  

We made it back to the car and drove back to Sheffield before stopping off at Peddler Market for some food.  The food was… gross.  The three of us all ate from the same place, an Indian street food vendor, but it was just gross and we all left at least half of our food.  We were too tired to do anything about it, so we parted ways and Oana and I went home.  

The last bit of the day, with the food, might have sucked but it was a great day overall.  

Here are some pics:

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What I’m Doing

Listening: Dust by Hugh Howey.

Watching: YouTube channels; In Deep Geek, Side Projects, Mega Projects.

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £87,799.06.

Fuck It Fund: £8,457.07.

Pensions: £89,841.95.

Residential Property Value: £237,228.00. 

Total Assets: £453,826.08.

Debts

Residential Mortgage: £183,840.69. 

Total Debts: £183,840.69.

Total Wealth: £269,985.39.

In the past couple of months or so, I’ve seen my fund values drop approximately £15k between my ISA and pensions.  In one sense, it’s good that as the ISA allowance renews on April 6th, the unit prices will be lower.  On the other hand it’s frustrating that it’s in large part down to the actions of a buffoon who is still due to be around for another 3 and a bit years.  

I suspect he will not see out a full term, though.  I think sooner or later, he will do something so unhinged that even loyalists will have a sharp intake of breath and think, “Yeah, it’s time.”

The big question is what I’m going to invest, and where.

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I’m going to empty my Fuck It Fund and I could scrape another £1,500 or so together if I need to.  So, approximately £10k is what I’m looking at.  My initial thought was to invest £8k and then have twelve months to max out the remaining £12k allowance.  If I do £10k up front, that means a further £10k to max out the annual allowance over a 12-month period, which is £833pm.

My concern is stretching myself too thin and needing cash for something later down the line.  

I think it’s something I’ll sleep on and see how I feel in the morning.  It’s a shame no one is offering a £20k loan at 0% interest….  Even better, does anyone want to gift me £20k?

What are your plans for your ISA now that the new year has started?  Let me know in the comments.

Sheffield Wednesday

It feels like Groundhog Day at Hillsborough. Once again, the headlines are not about football – they’re about finances, frustration, and fear for the future. March came and went, and the players and staff at Sheffield Wednesday weren’t paid on time. Again.

Let that sink in. Professional footballers in the Championship, one of the most lucrative leagues in the world, are not receiving their wages on time. It’s shameful and becoming depressingly normal.

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I don’t get the arguments that some people make that footballers are all rich and should be ok going without their wages for a few days.  This completely misses the point that it’s a contractual agreement.  No one forced the club to offer these contracts.  

Another Crisis Under Chansiri

Since arriving in 2015, Chansiri has presided over a slow and painful decline. There was a brief glimmer of hope with Carlos Carvalhal’s near-miss in the 2016 playoff final, but that now feels like a distant memory. What followed was a litany of disastrous decisions:

There was ridiculous spending and recruitment that felt like a scattergun approach rather than systematically building a team.  Millions were spent on players who added nothing. Jordan Rhodes, Almen Abdi, and many more.

Then, there are the off-the-field issues, like the crest redesign to ticketing policies that alienated fans, and there’s been a consistent failure to understand the culture and heartbeat of the club.

We’ve had embargoes, and a points deduction that ultimately led to relegation.  Once again for those at the back of the room; we did not get relegated because we were one of the three worst teams in the division.  We were relegated because we had a points deduction.

We also have Hillsborough stadium, which is like a millstone around our neck for reasons I don’t think need explaining.

Danny Röhl – One Foot Out the Door?

Amid this mess, one man brought hope. Danny Röhl arrived as an unknown quantity and has since transformed the culture, attitude, and playing style of the team. He’s worked miracles with a thin squad, limited resources, and now, apparently, no pay.

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It’s hard to imagine he’ll stick around. Röhl is an ambitious young manager with a bright future. He could walk into a better-run Championship club tomorrow or even one in the Bundesliga or Premier League. Who could blame him?

He’s spoken publicly about the need for the club to match his ambition.  Unless we get a new owner, it’s just not going to happen.

It’s time for a reset. A clean slate. A fresh start with owners who understand football, respect the supporters, know how to build a sustainable future, and understand that Sheffield is an old industrial city with many working-class people.  We’re not London, and we shouldn’t have to pay London prices.

Until we are under new ownership, we will continue to stumble along and yo-yo between the Championship and League One.

That’s all for this week. Thanks for reading, and I hope you have a great week ahead. Please remember to like, share, subscribe, and comment.

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 283: Financially Independent, Neurodivergent

Hello and welcome back to Mortgage Advisor on FIRE.  This week I discuss the importance of FI to those who are neurodivergent or struggling with mental health. Also, the third anniversary of Poppy joining our family, and some thoughts on the future of Europe.

Weekly Update

It’s been a busy week, and the days seem to flash by in a blur.  I had a little bit of frustration partway through the week, but I think I’m getting better at dealing with and moving on from that.  I think the key is that I’ve become better at separating the personal from the professional.  Way back when, I would get hung up on little things that frustrated me, but I’ve come to realise that it’s just not that important.  We’re all just trying to get by one day at a time.    

My training course with my new employer has now finished and I had a handover to my new manager.  We had a good chat, and I’m feeling positive about the team moving forward.  The week ended on a real positive note as I had a call from the director who interviewed me, and he was full of praise and encouragement.  I’m looking forward to getting stuck into this role and seeing what I can do with the training wheels off.

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When I look back at Lloyds, there are plenty of good things I can point to in terms of their behaviour as an employer, and some of the great people I met and the relationships I made.  The actual job was frustrating, though, as there didn’t seem to be any logic to the structure, and everything felt so reactive rather than proactive.  I think I needed the change more than I realised, and it’s a completely different feel here in my new job.

Missing the Peaks

On Saturday, I was meant to go for a walk in the Peaks with Oana and our friend Yvonne, but I was feeling exhausted, and I also pulled something in my leg.  It was hurting most of Friday night.  I ended up giving the walk a miss which sucked because Oana and Yvonne had a great time.  I met them after for some food, so it wasn’t a complete disaster.  My leg is better now as well, so it wasn’t anything serious.  

Lego

On Wednesday evening, we finished our latest Lego build: the Natural History Museum, which is part of the modular series.  It looks great linked to the Jazz Club and Tudor Corner.  I’ve also ordered a display stand for my Venator and one for the UCS Millenium Falcon, which I’ve not yet purchased.

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It’s weird with Lego because my wish list keeps getting bigger despite me buying loads of things from it.  Bizarre…

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Poppy

This week brought our third anniversary of adopting Poppy.  She is now the cat we’ve had for the longest time, after having Sweep for roughly two and a half years and Bobby for just a few months.  It’s the tragic side of adopting older cats to give them a retirement home; you never know how long you’ll have each other.  Poppy is showing no signs of slowing down, though.

Case in point: the other night I was just sat minding my own beeswax and I hear Pops scratching away in her litter tray.  She then comes sprinting into the living room and dives out onto the balcony.  Then, just as quickly as she exited, she flew back into the living room and then stopped in the kitchen.  She looked to the ceiling and let out a mighty yowl before jumping on the spot and spreading her paws out. 

She snapped her head towards me before shooting her gaze forward, and then she started sprinting, but her paws couldn’t get traction, and so her legs were going a million miles an hour but she wasn’t moving, with the rug and her toys going everywhere before she finally flew off down the hallway.  It was like watching a starship go to warp, and the whole thing was so funny that I laughed for about ten minutes.  You would not think she’s an older cat.

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If you are looking to adopt a cat, please do consider the older ones.  They’re often overlooked, but they are such a great source of affection, companionship, and joy.  They are so grateful for a loving home.  Organisations like Cats Protection or more local cat shelters will happily discuss with you the options for adopting an older cat.  

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War

There’s been talk this week about war with Russia, following the advice coming out of the EU for people to stockpile supplies.  The worry is that with America withdrawing from Europe and NATO, Russia may be encouraged to try and take more territory.

In a conventional war, I doubt Russia could do much against the major European powers, such as Germany, France, the UK, and Italy.  After all, Russia has struggled against Ukraine in what it thought would be a quick conquest.  The Russian economy is fucked, and if the European nations got their act together, they could outbuild and outspend Russia.  

No, the fear is not conventional war but rather a combination of Russian infiltration and the limited use of nuclear weapons if they’re backed into a corner.

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It’s crazy how much the world has changed since 2020, with Covid, the rise in right wing extremism, the increasing popularity of red pill misogynist bullshit, and the looming threat of an aggressive Russia that can’t afford to not continue a wartime economy.  Add to all this the climate crisis, a possible future economic crisis, and it’s not hard to see why so many people are just fed up.

FIND: Financially Independent, Neurodivergent 

Why FI is a Lifeline for Autistic People and Those with Anxiety, Depression, and Stress

The traditional workplace isn’t built for everyone. If you’re autistic, struggle with anxiety, depression, or just find the constant demands of a high-pressure job exhausting, the standard 9-to-5 can feel like a slow, relentless grind. Financial Independence (FI) isn’t just a way to escape work; it’s a way to escape an environment that, for some people, is outright harmful.

The Neurotypical Workplace Can Be A Minefield

The modern workplace is designed for neurotypical people. It rewards extroversion, adaptability, and a high tolerance for unpredictability. Meetings, office politics, constant small talk, and rigid schedules are all seen as just part of the job. But for those who are autistic or struggle with mental health issues, these things aren’t just minor annoyances.  They can be utterly draining.  

One example, which I’ve learned many ND people have experienced, is the message from a manager: “Can we have a chat tomorrow?”

This could be about anything, and most neurotypical people, or those who aren’t being crushed by stress or anxiety, will not think anything of it.  Other people will spend hours worrying about this vague invite to a meeting.  Note: If you are a manager and you need to talk with a colleague or subordinate, please don’t be vague like this.  Even a little, “I need to talk to you, but it’s nothing to worry about.” can be a huge source of relief.

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Other sources of stress…

Sensory Overload: Fluorescent lights, open-plan offices, background noise, the endless pinging of Slack and email. For autistic people and those with anxiety, the sensory chaos of a typical office can be overwhelming.  This is just one reason why home working can be such a benefit to some people.

Social Exhaustion: The expectation to engage in workplace banter, participate in team-building activities, or handle unexpected social interactions can be exhausting for those who struggle with social anxiety or who simply prefer deep focus over small talk.

Rigid Structures: Many workplaces demand a strict adherence to schedules that don’t account for fluctuating mental health. If you wake up feeling like you can’t face the day, you still have to drag yourself to the office or risk losing your job.  There have been so many times when I’ve been well enough to work from home but in no fit state to go into an office.  

Office Politics:  Passive-aggressive emails, unspoken expectations, forced enthusiasm in meetings… It’s an invisible game that many neurodivergent people either don’t understand or don’t want to play.

For many, just existing in a workplace like this takes an immense toll. It’s not about laziness or a lack of work ethic.  It’s about an environment that simply doesn’t accommodate the way their brains work. This is where FI becomes a game-changer.

FI = The Power to Opt Out

Financial Independence isn’t just about retiring early.  It’s not even about the money, as that is just a tool.  FI is actually about choice. For those who struggle with the neurotypical workplace, it means the ability to step away from environments that harm them and build a work-life setup that actually supports their well-being.

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The Ability to Work on Your Terms

Instead of being forced into an office, FI allows you to choose work that suits your needs, whether that’s freelancing, remote work, or project-based employment.  When you are FI, you have the power and freedom to say “no”.

Escaping Social Exhaustion

When you’re FI, you don’t have to force yourself into social situations that leave you drained. You can limit interactions to what’s necessary and comfortable.  You don’t have to worry that an unintentional social fuck up can halt your career in its tracks.

More Control Over Sensory Environment

FI gives you the freedom to work in a space that suits you, whether that’s a quiet home office, a café with noise-cancelling headphones, or a peaceful spot in the countryside.  You don’t have to listen to the constant beeping, ringing, and overlapping voices.

No More Forced Smiles or Office Politics

You can say goodbye to the mental gymnastics of corporate environments. No more pretending to be enthusiastic about team-building exercises or decoding passive-aggressive emails.  Just peace, quiet, and the work at hand.

Mental Health Comes First

With FI, you can structure your life around what your brain needs. Whether that means taking breaks when necessary, working fewer hours, or stepping away from work entirely, you’re no longer at the mercy of a demanding employer.

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FI as a Safety Net

For those with anxiety or depression, financial insecurity is a constant, nagging fear. When your mental health fluctuates, the idea of losing your job (and your income) can be terrifying.

FI removes that stress. It provides a buffer against burnout, an emergency exit when things become overwhelming. Even if you’re not aiming for full retirement, having a financial cushion means that if a job is making you miserable, you can leave. That’s an incredibly powerful position to be in.

The Bigger Picture: Designing a Life That Works for You

FI isn’t just about quitting work.  It’s about reclaiming your autonomy, your agency. For neurodivergent people and those with mental health struggles, it means designing a life where you’re not constantly fighting against a system that doesn’t fit. It means choosing work that aligns with your strengths, setting your own schedule, and prioritising well-being over corporate expectations.

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The world isn’t designed for everyone, but FI gives you the tools to design a world that works for you, whether you’re neurodivergent, neurotypical, or struggling with mental health.

What I’m Doing

Listening: Shift by Hugh Howey.

Watching: Adolescence (Netflix).

We’ve finally got around to watching Adolescence, and as I write this, we have one episode left.  It’s very well made, with each episode being a single take (although I think I spotted a break partway through the second episode).  Even so, just on a technical level, it’s brilliant.  

The acting has been on point as well, with the young lad playing Jamie doing an incredible job.  The subject matter is disturbing but also a window into a side of society that needs to be talked about more.  The proliferation of misogynist bullshit is scary, and the fact that young boys and men turn to people like Andrew Tate should be a concern for us all.

If you’ve not yet watched Adolescence, I would recommend it, although it’s not for the faint hearted.

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £89,031.91.

Fuck It Fund: £8,436.04.

Pensions: £92,217.10.

Residential Property Value: £237,228.00. 

Total Assets: £457,413.05.

Debts

Residential Mortgage: £183,840.69. 

Total Debts: £183,840.69.

Total Wealth: £273,572.36.

My Mortgage

When I left Lloyds, I was allowed to keep my concessionary mortgage rates for being a staff member.  I can keep them for a year following my departure, which is very reasonable.  Back in the day, the concession was that you could have a rate that matched the Bank of England base rate exactly – so a good few years at 0.5%!

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A little while before Liz Truss and Kwasi Kwarteng had their collective brain fart, I knew that the era of low rates was coming to an end.  As such, I decided to come off the BoE tracker and take advantage of the new staff offer, which was a discounted fixed rate.  That’s where I find myself now.  I have a good few months before I have to switch, but I’d rather not wait too long in case I end up reverting to the variable rate.

How my mortgage is set up…

When I first switched from the old scheme to the new one, I went with a two-year fixed.  From that point, we borrowed extra funds a couple of times and made other changes to the set-up of the mortgage, which leads us to this point.

Yes, the mortgage is a bit all over the place, and ideally, I want to get the whole debt on one rate so it’s more streamlined.  Once we’ve paid the balance down some more, I’d be looking to get on interest only, which should free up more money to invest.

We will probably find it difficult to remortgage to another lender because of the issues surrounding the EWS1.  For those who missed it, some guy was found to have completed loads of risk assessments incorrectly, including the one on our apartment complex.  As a result, our certificate is no longer being accepted by lenders.  We were initially relieved when our building was deemed to be safe, but we’re now faced with the prospect of paying for remedial work to be completed.  How much this could end up costing, I have no idea.

That’s about all for this week.  Thank you for reading, and I hope you have a great week ahead.

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DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 282: There and Back Again

Hello and welcome back to Mortgage Advisor on FIRE. This week I discuss an interesting take on the 4% rule. Also, a little look at season tickets in football, and a great walk in the Peak District.

Weekly Update

I started the week with a visit to the GP that ended up being a complete waste of time for everyone.  I had an appointment booked with one of the regular GPs who knows me and my storied medical history.  However, when I was called in to see the GP it was clear something was wrong.

In a medical setting, perhaps more than any other, clear communication is vital.  This GP could not speak English well.  I don’t doubt their medical knowledge or ability to practice medicine, but their English was extremely limited and what they did say was more mumbled than clearly spoken.  Oana was in the room with me, and neither of us could understand anything that was being said.  I tried to relay information to the GP, and it was clear they couldn’t understand me either.  I ended up leaving the appointment having achieved nothing.

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The regular GP was off sick, which happens and is no big deal.  The big deal is that any replacement needs to be able to communicate clearly in the primary language of that setting.  If I was in Germany, for example, I’d expect the GP to speak German and the responsibility would be on me to bridge that communication gap.  

I’ll need to go again to sort out what I was there for in the first place, and hopefully, it will proceed more clearly all around. 

Mam Tor

On Saturday, four of us took a trip to Castleton. It was an early start, with our friend Yvonne picking us up at 6:30 am. We parked on Buxton Road and set off through the fields towards the start of the climb, which led us over rocky and muddy paths. The ascent was steep but enjoyable. Along the way, we encountered a few fellow early risers with their dogs, and most of the people we met at the beginning were friendly, though that wasn’t the case for the entire day.  

For those unfamiliar, Mam Tor is a 517m hill that dominates the landscape around Edale, Hope, and Castleton. It’s a breathtaking part of the Peak District, and living in Sheffield, we’re lucky to have it so close by.  

The Shivering Mountain

The name Mam Tor, which means “Mother Hill” in Old English, comes from the frequent landslips that have created several smaller hills around it. Something I didn’t know before, but find fascinating, is that the hill has another name “The Shivering Mountain” a nod to the shale in the area that contributes to its constant shifting.  It’s funny that it sounds like something from Lord of the Rings as I was thinking about the story on my way up.

Once we made it to the top we were unable to enjoy the spectacular views around the valley because of the thick fog that limited visibility to about 30 meters.  We laughed at this because at another time our views were blocked by fog up a mountain in Romania.  In 2016, or maybe 2017, Oana and I were in Romania on a road trip through the Făgăraș Mountains.  We made it to the top only to be lost in some of the thickest fog I’ve ever experienced, so we did the natural thing and stopped to eat some corn on the cob that was being boiled in an old oil drum, but that’s another story.

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We set off from Mam Tor towards Back Tor, which I think is even higher than Mam Tor.  The climb up Back Tor is a long stair made from stone, which again felt like something from Lord of the Rings.  Oana and I had fun quoting it to each other; “Up, up, up, up the stair we go, and then, a tunnel!”

Thankfully there was no tunnel concealing a giant spider at the end of this climb.

Don’t be weird…

As the morning progressed the area became increasingly busier, and some of the other walkers were a little ignorant.  We had stopped for a bite to eat in a fairly isolated place, and a family decided to park themselves, and their screaming children, right next to us.  It was like being in an empty cinema, and another person came and sat next to you; a bit weird.

We were already halfway through eating and it would have been a pain to pack up and move, so we just finished eating and set back off.

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The walk back down into Castleton was, in some ways, more difficult than the walk up.  Going downhill just hits differently.  By the time we made it back down, we were all getting pretty tired having done over 20,000 steps.  It was worth it though, and I’m glad I made the effort to wake up before six in the morning!

How Many People Are There?

The study of carrying capacity for the Earth is fascinating to me.  It’s the attempt to work out what is the maximum population the planet can sustainably support.  Estimates have ranged anywhere from 2 billion people, to upwards of 30 billion plus.  I saw one study that suggested a global population in the hundreds of billions.  One major factor in any estimate is what quality of life the population would enjoy.  A number too high, or even too low, presents problems, like maintaining a food distribution network. 

To understand what our maximum, sustainable, carrying capacity is we first need to understand how many people there are now.  Have you ever thought about how we work this out?

At present it is estimated there are approximately 8.2 billion people on Earth.  We are thought to have surpassed 8 billion sometime in 2022.  However, how can we know for sure?

There are almost 200 countries on Earth, and each has its own way of tracking its population.  One common method is a national census, but even these aren’t necessarily accurate.  In a recent article in the Independent, it’s suggested that the 2012 census in Paraguay “may have missed a quarter of the population.”

Huge parts of the planet are taken up by developing nations where healthcare and record keeping are patchy, at best.  The question is how far out are our estimates?

The Impact of Undocumented Births

One of the key challenges in accurately determining the global population is the prevalence of undocumented births.  The issue is particularly pronounced in developing nations where access to healthcare, infrastructure, and bureaucratic processes can be limited. In remote rural areas, many births occur outside of hospitals or medical facilities, with no immediate way to register them. Additionally, cultural, economic, and political factors can contribute to underreporting. For instance, in some regions, birth registration may not be a priority for families due to financial constraints, distrust in authorities, or a lack of awareness about the importance of official documentation.

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Conflict zones and areas affected by displacement present another significant obstacle. Refugee populations often lack access to proper registration systems, meaning that many births go unrecorded. As a result, these children may grow up without legal recognition, making it harder for them to access education, healthcare, and other essential services.

Even in more developed countries, issues related to undocumented migration can contribute to gaps in population data. Families living without legal status may be hesitant to engage with government authorities, leading to unregistered births that skew national statistics.

Why it matters

The implications of undocumented births are far-reaching. Inaccurate population data can affect policy-making, resource allocation, and economic planning. Governments rely on census data to determine funding for public services such as schools, hospitals, and social programmes. When a portion of the population is unaccounted for, these essential services risk being underfunded or misdirected.  Note: If your President is Trump, it’s probably going to be worse.

Efforts to address this challenge include improving birth registration systems, investing in digital record-keeping, and increasing awareness about the importance of documentation. International organisations such as UNICEF advocate for universal birth registration, recognising it as a fundamental human right that ensures access to identity, nationality, and basic services.

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Ultimately, a more accurate global population count depends on overcoming the barriers that lead to undocumented births. Strengthening registration processes worldwide will not only improve data accuracy but also help protect the rights of individuals from birth throughout their lives.  When you think about it, what’s a more fundamental right than having your existence recognised?

No doubt there will be some conspiracy nuts who foam at the mouth about the idea of Big Brother tracking us by registering our births.  They’ll be banging on about this on Facebook, after using their driving licence as ID as they buy beer from a supermarket at a discount after swiping their loyalty card. 

One more time for those at the back of the class: The government already knows what it needs to know.  

What I’m Doing

Listening: Wool by Hugh Howey.

Watching: Cool Worlds (YouTube), In Deep Geek (YouTube).

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £89,250.98.

Fuck It Fund: £8,086.04.

Pensions: £92,744.02.

Residential Property Value: £237,228.00. 

Total Assets: £457,809.04.

Debts

Residential Mortgage: £184,813.17. 

Total Debts: £184,813.17.

Total Wealth: £272,995.87.

Not Another 4% Post…

I saw an interesting post on Reddit this week, which reframed the 4% rule (or any withdrawal rate %).  The idea was to look at specific parts of your spending and work out what you would need to have invested to cover that expense.  For example, if you spend £100pm on coffee, you would need £1,200pa.  Using a 4% withdrawal rate, you’d need to have £30,000 invested just to cover your caffeine habit.  

While this idea isn’t revolutionary, it does help provide context for how much importance you place on certain expenses.  If you wanted to cover a premium television package, like Sky at £50pm, with things like Netflix, Amazon, and Disney+ all thrown in, you could be looking at £80pm.  This would mean you’d need £24,000 with a 4% withdrawal rate to fund your TV habits.  If you plan to continue buying cars on finance and paying for all the associated costs of owning a car, you are probably looking at a minimum of £300pm.  How much would you need to have invested to cover this expense? £90,000.  I’d rather use public transport or Uber to be honest.  

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The 4% rule is, in my opinion, too safe.  However, this is something that each person has to decide upon for themselves.  When modelling a withdrawal rate, the assumption is that you will stick rigidly to that plan even as it looks to fail.  In reality, you would change course and do something differently.  If I had a couple of years where my pot was shrinking, I’d be looking at the numbers and the global economy to see what was going wrong.  I wouldn’t just carry on relentlessly driving my investments down to nothing.  

Season Tickets – All Roads Lead To Money

Many years ago I followed football intensely.  Now, I would struggle to name more than a couple of players for each Premier League club, and I can’t remember the last time I sat and watched a football match without splitting my attention with something else.

The problem with football now is money.  Everything comes back to money.  Clubs want to get promoted to the Premier League, primarily, because of the money.  Clubs don’t want to be relegated as it’s a financial disaster.  Champions League qualification? Money.  It’s all about money.

For many clubs lower down the pecking order; basically those outside the Premier League, a massive part of their income comes from season tickets.  You pay a lump sum that gives you a ticket for every home league match, and you get it at a reduced price per game compared to buying tickets for each match individually.  

They want to do what…?

Some owners have stated that they don’t like the season ticket model because it doesn’t let them price tickets dynamically, according to supply and demand.  If you have say 75% of your attendance sold as season tickets, the price for each match is the same whether it’s against a top club like Manchester City or a midtable club like Manchester United.

If you don’t have season tickets and every supporter has to buy tickets individually, the theory is you’ll receive more money as the PPG is higher.  For the vast majority of clubs, this theory is completely fucking stupid.

First of all, there’s a massive difference between paying a one-off cost for long-term benefits and paying smaller amounts over and over.  People can rationalise paying £800 to watch every home game their team plays.  Asking them to pay £50 per game hits differently.  You’re more likely to miss a game here or there, and there’s a much greater danger of losing the habit and routine of going to the match.

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If you have a group of friends you normally watch the game with, it’s easier to organise the purchase of a ticket once every year or so, instead of a couple of dozen times a year.  People may find themselves sitting in a different seat each game, and for high-demand games, they may not be able to attend at all.  For the sake of a few extra pounds, it seems a risky strategy.

Losing the habit…

There are many people I’ve discussed this with who had season tickets but then gave them up for one reason or another.  They intended to pay here and there for individual matches, but have quickly moved on to other interests.  I’m one of those people.  I had my last season ticket just before Covid hit.  I gave it up because I didn’t like how the club was being run.  When I bought my season ticket, to support the club, knowing full well that I’d miss about a quarter of the games due to work and holidays.  I still made that investment.  When I gave up my season ticket, I thought I’d go to the odd match here and there.  Since the 2018/2019 season, which I think was my first without renewing my season ticket, I’ve been to a match precisely zero times.  I think my last season ticket was £650ish.  That’s a fair old chunk of money the club lost out on, and I know I’m not the only one to have done this.  

Clubs should not be arguing against season tickets but rather should be promoting them.  Yes, the price per game might not be as good, but getting all of a smaller pie is better than none of a larger pie.

That’s all for this week.  I hope you enjoyed this blog, and if you have any thoughts let me know in the comments.    

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 281: Pensions, Magical Thinking, and Trump

Hello and welcome back to Mortgage Advisor on FIRE.  This week I discuss pensions, and a bit on Dunning-Kruger.  Also, a couple of nice weekends with Oana.

Weekly Update

It’s been a pretty good week.  Last Sunday Oana and I went for a long walk around some of the parks in the city and had a little look in Weston Park Museum at the Pete McKee exhibition.  We had an ice cream from the van outside the park and enjoyed the sunny afternoon.  Not wanting the day to finish, we stopped off for some fried chicken at one of our favourite eateries in the city centre.  It’s a place called Terrace Goods, and their chicken is incredible.  They do something called Texas Toast which is some thick slices of bread topped with chicken tenders and pickles.  The seasoning soaks into the bread and it’s a thing of beauty.  

The working week was exactly as it sounds.  I feel like I’m getting to grips with it now, whereas the first couple of weeks I felt a little overwhelmed with the amount of stuff there was to learn.  For a long time at Lloyds I felt like I was just coasting as there was no room to really develop due to bottlenecks in the ranks above.  Now I have much more freedom and scope to develop and progress, and show what I’m capable of when a fire has been lit beneath me.

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On Saturday I went to one of the private hospitals in the city for a consultation with yet another surgeon about my elbow, which has been causing pain for years now.  I’m desperate to get this issue resolved so I can start lifting weights again.  I’ve got to wait for an MRI appointment and then see what it shows.  I’m not expecting it to reveal anything that the other scans have missed.  I can’t help but think they need to actually cut my arm open and look; you know, MK-1 eyeball this, rather than relying on scans that I’ve already had.

Following the hospital visit, Oana and I had a walk down to the end of Ecclesall Road, and down Sharrow Vale Road.  We stopped in a cafe for a sandwich and drink.  I had an amazing bacon and egg sandwich on ciabatta, and it was cooked just how I like it.  The bacon was crispy and the fried egg had a runny yolk.  Obviously, I did the correct thing and had this with brown sauce.  Anyone who has ketchup on a bacon sandwich needs to seek professional help.  

Oana had a veggie sandwich that she said was a bit bland, but we shared a scone that was well made.  The disappointing aspect was the cheap jam used.  It was the sort that’s just like jelly with no fruit.  Overall, I enjoyed my food but I don’t think Oana was too impressed.  

Once we left the cafe, we walked back to a bakery that hadn’t opened on our first walk by.  They had incredible looking donuts, and we had to grab a couple.  I opted for one filled with pistachio cream.  It was great; not too sweet and not too overpowering with the cream.  I enjoyed it.  

We then stopped in Tesco to pick up some nuts to take to the Botanical Gardens where we fed the squirrels.  They are so friendly and will come right up to you to take the food from your hands.  More than once over the years they’ve climbed up me and rested on my shoulder or clung to my jeans.  Being out in nature is relaxing, but working Monday to Friday until 6pm doesn’t leave much time other than at the weekend.  

On Sunday, when this will be published, there’s the Steel City Derby between Sheffield Wednesday and Sheffield United.  As a Wednesday fan, I’m not that optimistic we’ll get a result but you never know in a derby match.  We have a slim chance of making the play-offs but defeat in this match will probably put any remaining hopes of that to bed.

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52 and No Pension…

I was sent this by a good friend the other day:

I read the whole thing and it was standard facepalming stuff until I got to the last couple of sentences, where I had to go outside and take a few lungfuls of fresh air.

Yes, the little known secret to turning your finances around is *checks notes* magical thinking.

I’m not criticising anyone for not knowing what they don’t know.  A general lack of financial literacy and understanding is a societal problem.  However, once you know there’s a problem, falling back on mystical bullshit is not the answer.  Problems like this need to be tackled head on. 

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One of my biggest frustrations in life is when someone is faced with a clear-cut choice; Option A or Option B. That’s it. No hidden alternatives, no third path, no magic escape route. Just two options. To make things even clearer, doing nothing isn’t really an option either, because inaction automatically defaults to Option A. It’s a simple decision: choose A or choose B.  

And yet, instead of making a choice, some people will declare, “I don’t want to choose.”  

Okay… but that doesn’t make the problem disappear. The situation doesn’t pause indefinitely just because someone refuses to engage with it. Life keeps moving, and by refusing to choose, they’re still making a choice, just not an intentional one. They’re surrendering control and allowing external forces (or time itself) to decide for them.  

This kind of mindset is baffling to me. I get that decisions can be tough. I understand that fear, uncertainty, or even laziness can paralyse someone into avoidance. But refusing to choose doesn’t remove the responsibility or the consequences. In fact, it often makes things worse because the person then has to live with the outcome of a decision they didn’t actively make.  

At some point, you have to own your decisions whether that means taking decisive action or, at the very least, acknowledging that inaction is its own form of choice. Otherwise, life will choose for you, and you may not like where you end up.  

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Dunning-Kruger

I’ve talked about Dunning-Kruger before.  It’s a cognitive bias where individuals with low ability at a task overestimate their competence. In other words, the less someone knows, the more confident they tend to be in their (often incorrect) understanding.  They don’t know what they don’t know.  

Donald Trump is an idiot, and a prime example of this effect, particularly in areas where he lacks expertise but expresses extreme confidence.  What’s that? Examples, you say?  Ok then… 

Overestimating His Intelligence and Knowledge 

Trump has repeatedly claimed to be an expert in fields as varied as economics, military strategy, law, and even medicine, despite having no formal education or experience in those areas. He once said:  

“I think nobody knows more about taxes than I do, maybe in the history of the world.”

“I understand the virus better than anybody.”

“Nobody knows more about trade than me.”

These statements are classic Dunning-Kruger.  People with little understanding of a subject don’t realise how much they don’t know.  

There are lists out there detailing all the times he’s made these absurd claims, as well as YouTube compilations.  Just google “Trump knows better” and buckle up for a wild ride.

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Dismissing Experts and Science

A hallmark of the Dunning-Kruger effect is the dismissal of experts because the person believes their own (uninformed) opinions are just as valid. Trump has disregarded epidemiologists, climate scientists, intelligence agencies, and military leaders in favour of his own gut feelings.  

For example, during the COVID-19 pandemic, he suggested injecting disinfectant as a treatment, despite having no medical background. When met with pushback from scientists, he claimed they were the ones who didn’t understand.  Oh, and let’s not forget the whole light claim as well.  Below is a quote taken from the BBC…

“So, supposing we hit the body with a tremendous – whether it’s ultraviolet or just very powerful light,” the president said, turning to Dr Deborah Birx, the White House coronavirus response co-ordinator, “and I think you said that hasn’t been checked but you’re going to test it. 

“And then I said, supposing you brought the light inside of the body, which you can do either through the skin or in some other way. And I think you said you’re going to test that too. Sounds interesting,” the president continued.

“And then I see the disinfectant where it knocks it out in a minute. One minute. And is there a way we can do something like that, by injection inside or almost a cleaning?”

Confidence Without Competence

Trump’s business dealings also show signs of overconfidence without ability. Despite multiple bankruptcies, failed ventures (Trump University, Trump Steaks, etc.), and financial scandals, he has insisted he is a genius businessman. His unwillingness to accept responsibility for failures, and blaming others instead, fits neatly within the Dunning-Kruger framework.  

The Inability to Recognise His Own Mistakes  

A key aspect of the Dunning-Kruger effect is that people who suffer from it are often incapable of recognising their own lack of skill. Trump rarely, if ever, admits to making mistakes, no matter how glaring they are. Instead, he doubles down on false claims, even when faced with clear evidence to the contrary (e.g., Sharpie-gate, the 2020 election results).  

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To say that Trump has low competence would be overstating his ability.  The man is a moron and I can’t understand how he was ever elected.  

What I’m Doing

Listening: Wool by Hugh Howey.

Watching: Cool Worlds (YouTube), In Deep Geek (YouTube).

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Financial Update

Assets

Premium Bonds: £30,500.00.

Stocks and Shares ISA: £87,375.76

Fuck It Fund: £6,786.04

Pensions: £90,527.07

Residential Property Value: £237,228.00. 

Total Assets: £452,416.87

Debts

Residential Mortgage: £184,200.23. 

Total Debts: £184,200.23.

Total Wealth: £268,216.64

In the last few weeks I’ve lost approximately £10k between my ISA and pension, as the stock markets react to Trump being, well, Trump.  I’m not saying I hate him, but if I saw him drowning I’d throw him a dumbbell.  It’s difficult to look at the world right now and see where it’s going to get better between Trump, Musk, Vance, and Putin.  The sooner these people are removed from positions of power, the better.

Back to Pensions…

DISCLAIMER

Although this is a blog about finance and investing, I’m not a qualified financial or pension advisor. My bread and butter is mortgages. Don’t base any financial decisions on what I say in this blog. Do your own research and seek professional advice. I take no responsibility for any actions anyone else takes.

Investing in a pension is one of the smartest financial decisions you can make. Whether you’re contributing to a workplace pension or a private pension, making informed choices can significantly impact your financial security in retirement.  I have seen many people over the years opt out of paying into a pension early in their working life, and this is such a huge mistake.  Those pounds invested in your early twenties have decades to compound. 

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So, what to do and what not to do…

If you’re part of a workplace pension scheme, check how your employer offers matching contributions. Many employers will match your contributions up to a certain percentage, effectively doubling your investment. If you can afford it, contribute enough to get the full match as it’s essentially free money.  Even if they offer just the minimum required, it’s still a contribution to your future.  Ignoring this is like taking a paycut.  

One of the biggest advantages of investing in a pension is tax relief. The government boosts your pension contributions by giving tax relief at your marginal tax rate. If you’re a basic-rate taxpayer, a £100 contribution only costs you £80.  Again, this is free money.  I don’t get why people don’t want free money.

Review Investment Choices

Most pension providers offer a range of investment options, from low-risk bonds to high-risk equities. If you’re young, you can afford to take on more risk with equities, which historically provide better long-term returns. As you get closer to retirement, it may be wise to shift towards lower-risk investments to protect your savings.  No matter your attitude to risk, there should be a fund to match your level of comfort.  Don’t just go with the default investment choice; do some research because there may be something better suited to your circumstances.

Whilst reviewing the investment funds, keep an eye on management fees, as they can eat into your returns over time. Some pension funds charge higher fees than others, and while some fees are justifiable, excessive charges can reduce your retirement pot. Compare fund fees and switch providers if necessary to ensure you’re not overpaying.

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If you invest in a global index tracker, diversification shouldn’t be too much of a concern.  Although there are arguments for investing in a range of asset classes like bonds, equities, and property, I’m content with sticking to equities primarily.

A well-diversified pension fund spreads risk across different markets and industries. If your pension provider offers a range of funds, consider something that includes equities, bonds, property, and other asset classes.  

Old Pensions

If you’ve changed jobs multiple times, you may have old pensions scattered across different providers. Consider consolidating them into one scheme to simplify management and potentially reduce fees. However, check for any exit fees or lost benefits before transferring.

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If you forget about an old scheme and leave it to run, you may lose out on better investment choices or via fees you hadn’t considered.

It’s easy to set up a pension and forget about it, but regular reviews are crucial. Check your statements annually to see how your investments are performing. If necessary, adjust your contributions or switch funds to align with your retirement goals.

Consider Additional Voluntary Contributions (AVCs)

If you can afford to, making additional voluntary contributions (AVCs) to your pension can give your retirement savings a significant boost. Many workplace pension schemes allow you to make extra contributions, which still benefit from tax relief.

There’s also the option of creating a SIPP.  Although you may still get the tax relief, you may miss out on employer matching if you go this route instead of maxing out your workplace pension.  I have a SIPP to complement my workplace pensions; not to replace them.

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Timing is Crucial

The longer your pension has to grow, the bigger your pot will be.  However, the more you delay drawing on your pension, the longer you have to rely on other investments.  It’s a balancing act and there’s no universal rule for this.  If you get to your pension age and you don’t need to draw it down, leaving it where it is could be an advantage, or it could be a risk.  This is something you’ll need to assess and possibly seek expert advice on.

On the subject of which, pensions can be complex and it’s a good idea to seek professional advice if you are in any way unsure about how to proceed.  

That’s all for this week.  Thanks for reading, and I hope you have a great week ahead.

DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.

Part 280: Haters gonna hate, doubters gonna doubt…

Hello and welcome back to Mortgage Advisor on FIRE.  This week I discuss job interviews and recruitment in general.  Also, a dive into Quantum Immortality.  Finally, thoughts on motivation with FI.

Weekly Update

Another full week of work, which left me exhausted.  I’m finding this new job, and the training, difficult but in a good way.  I feel like I’m being challenged after many years of coasting.  I’m not quite yet at full mental fitness but I’m getting there.  One thing that has helped is Poppy coming and staying with me whilst I’m working.  She’ll come into the home office and reach up with her front paws to my leg.  She’ll do a little meow and that’s my signal to sit back so she can jump up into my lap.  Then, she climbs up my chest and rests on my shoulder.  Once she’s comfortable she’ll start purring until the purrs give way to little snores.  It’s such a nice feeling.

As much as I’m finding success with my new employer, several good friends are having no end of trouble with their searches for new employment.  The whole system of recruitment and interviewing feels backwards.  It’s a similar issue to exams in school, where the aim is not to educate for the adult world but simply to train you to pass the exam.  With jobs, the emphasis is on passing the company’s mystery criteria for being offered an interview, followed by the artificial nature of an interview.

Tell me about a time when…

One of the things that sold me on my new employer was their approach to interviewing.  It was a conversation; a two-way dialogue, which was professional, curious in nature, and left us all with a much better idea of what we all brought to the table.  This allowed me to be completely honest in my thoughts, opinions, and behaviours.  The business followed through on every promise and claim made, which was also a major point of difference.

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In my experience, and the experience of those around me, some employers like to play stupid games when it comes to recruitment.  I’ve lost count of how many times I’ve asked about an interview a friend had, only to hear that the interview revealed nothing about the job, the pay, the hours, or anything else of substance.

Job interviews are not just about you selling yourself to an employer.  It’s also about the employer selling themselves to you.  You would think that an employer would want to discover how qualified you are for the job, rather than finding out how good you are at passing an interview.  The two things are not the same.

Why Competency Based Interviews Suck

Competency-based interviews (CBIs) can be frustrating for several reasons, especially if you’re someone with strong experience who prefers a more natural conversation. Here are some of my thoughts on why they often suck:  

Rigid Format

CBIs force candidates to use the STAR (Situation, Task, Action, Result) method, which can feel robotic and unnatural. It doesn’t allow for real, flowing discussions about your skills and experience.  It’s less a conversation, and more like a riddle where you have to break down a real life event to fit the STAR format.  It’s bullshit and from what I hear from other people, examples are rarely based on their own history.  

Doesn’t Always Reflect Real-World Performance

Just because someone can structure an answer well doesn’t mean they’ll be good at the job. On the flip side, someone great at their role might struggle to recall a neatly packaged example from years ago.  Sometimes, people are great at a particular type of job without being able to explain why; it’s just something that comes naturally to them.  Think of a work-based skill you are really good at, and try to break down the specific components that come together to explain your ability.  It’s often more difficult to explain properly than you might think.   

Encourages Overthinking & Rehearsed Responses  

Candidates often spend more time worrying about structuring their answers than actually demonstrating their capabilities. It rewards those who memorise stories rather than those who think on their feet.  Anyone can learn these examples like they’re reading a script.  It doesn’t mean you understand what you’re saying.  Hand me a script in Italian and I can rehearse it over and over.  I won’t understand the concepts behind what I’m saying, but I’ll have a decent crack at reciting the words.  These types of interviews focus on your ability to pass an interview, not your ability to do the job.  

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Fails to Assess Potential

Many roles require adaptability, quick learning, and problem-solving, but CBIs focus on what you’ve done before, not what you could do in a new role with new management and/or autonomy.  These interviews, despite focusing on what you’ve done previously, pay little attention to the restrictions you may have been working under.   

Bias Towards Certain Personality Types

Extroverts or those with strong storytelling skills often perform better in CBIs, even if they’re not the most qualified. Meanwhile, highly capable but introverted candidates might struggle to articulate their examples convincingly.  

There are many jobs now that don’t even require that much verbal communication.  Many home working jobs, for example, may rely more on email or live chat.  Someone could be anxious when talking to someone face-to-face, but be a calm and clear communicator via email or chat.

Can Feel Like a Memory Test

If you’re asked, “Tell me about a time when…”, it can feel like a quiz rather than an evaluation of your actual skills. If you forget a specific example under pressure, it can unfairly impact your chances.  

Some Questions are Just Stupid

Questions like, “Tell me about a time you had a conflict with a colleague,” assume everyone has experienced these situations. If you’re naturally diplomatic or haven’t faced major issues, it’s hard to answer without sounding fake.  

That said, CBIs are popular because they try to standardise interviews and reduce bias. But in reality, they often favor those who are good at interviews rather than those who are best for the job.  

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Quantum Immortality

Is death the end? This is the question at the heart of an excellent YouTube video from one of my favourite channels, Cool Worlds.  The idea discussed is Quantum Immortality, which is a thought experiment that comes from the many-worlds interpretation of quantum mechanics.  

The Many-Worlds Interpretation: A Brief Overview

To understand quantum immortality, we first need to grasp the many-worlds interpretation (MWI) of quantum mechanics. Proposed by physicist Hugh Everett in 1957, MWI suggests that every quantum event with multiple possible outcomes results in a branching of reality. Each possible outcome plays out in a different, parallel universe.

For instance, if you flip a coin, MWI posits that in one universe, it lands heads, while in another, it lands tails. This concept extends to every quantum interaction, meaning an infinite number of parallel realities exist where different versions of you are living out countless possibilities.

Schrödinger’s Cat and the Nature of Observation

The famous Schrödinger’s cat thought experiment illustrates quantum superposition: a cat in a box with a quantum-triggered poison is both alive and dead until observed. In MWI, there is no single “collapse” of the wave function; instead, the cat lives in one universe and dies in another. The observer is also split into different versions where one sees a living cat, the other a dead one.

Enter Quantum Immortality

Now, apply this idea to yourself. If you were in a situation where death was a possible outcome, like say, a lethal quantum experiment, then MWI suggests that there will always be at least one branch where you survive, no matter how improbable. While observers in other universes may witness your demise, your conscious experience continues in the reality where you live.

The implication? Subjectively, you might never experience death. Each time you face a life-threatening event, you find yourself in the version of reality where you miraculously survive. Others around you might see you die, but “you”, the conscious observer, will always find yourself in a branch where you’re still alive. This is quantum immortality in action.

Does This Mean We Live Forever?

At first glance, quantum immortality seems to suggest you’ll never die. However, there are problems with this idea. While quantum mechanics does allow for improbable survival scenarios, it doesn’t mean you’ll be invulnerable to aging or suffering. You may find yourself in increasingly improbable and painful situations such as growing old, deteriorating, surviving freak accidents, but never truly reaching a point where you cease to exist.

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Is There Any Proof?

No experimental evidence supports quantum immortality. It remains a speculative, philosophical extension of the many-worlds interpretation. Most physicists are skeptical, as MWI itself is still just one of many competing theories in quantum mechanics.

However, some proponents argue that our continued survival in seemingly miraculous situations could be anecdotal evidence. Have you ever narrowly avoided a fatal accident? Is it luck, or did you just shift into a universe where you made it through?

The Implications of Quantum Immortality

Consciousness and Reality

If quantum immortality is true, it challenges our fundamental understanding of death and existence. What does it mean to be an individual if you exist across infinite realities?

Ethical and Psychological Effects: The idea that death is impossible for the observer could impact how people perceive risk and danger. Would it lead to reckless behavior, or existential dread as one’s future becomes an eternity of improbable survival?

The Fate of the Universe: While you may continue surviving, the universe itself is not immortal. Eventually, all matter will decay, and energy will spread out. Even if you live indefinitely, what happens when there’s nothing left?

Quantum immortality is a deeply unsettling and fascinating idea that forces us to question the nature of consciousness, death, and reality itself. While it remains purely theoretical, it offers a unique perspective on existence; one that suggests we may never truly face the void, at least from our own point of view.

Whether this thought experiment brings you comfort or dread depends on how you interpret it. Either way, it’s a reminder that reality may be far stranger than we can currently comprehend.

Religion and Afterlife

The idea of quantum immortality is not that new, and has featured in a roundabout way in some of the biggest films in the recent history.  Take The Prestige; are you the man waking up in the box or on the stage?

These sorts of discussions fascinate me, and have done for decades.  One point in particular has plagued my thoughts for a long, long time.  It’s a bit long winded but I’ll break it down as best I can.

A reward-based afterlife, such as heaven, depends on you behaving in a certain way during life.  You have to make all the right choices and when you die, you are granted a place in heaven.  This depends on the idea of free will and that we are responsible for what actions we take.

With the MWI all possibilities happen.  If we are confronted with many different options, and we end up taking all of them in different branching timelines, we haven’t actually made a choice.  There’s no free will.  So if all possible outcomes happen, it stands to reason that at the end of every branching timeline there would be a balancing of sorts, where your deeds are weighed against the criteria for getting into heaven.  In some timelines you will, and in others you will not.  But this isn’t fair because no choice has been made.  A reward based afterlife offered by an all-powerful deity can’t be just under the MWI because no one is making a choice when all possibilities happen.

So, let’s look at another option whereby MWI is real and timelines branch off.  However, the path you choose sees your soul progress along that branch, whilst the other branches have a copy of you but not your true self, i.e. not your soul.  

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This is a troubling possibility for another reason because after enough splits in the timeline, you could be the only real person in that timeline; just one soul surrounded by NPCs.  You could even see timelines where there are no souls present.  Would this result in complete waveform collapse? There is a theory that our whole universe is just one giant waveform.

I can just about grasp the idea of a multiverse through the MWI.  I think if it was ever proven, it could be the single most destructive scientific discovery in the history of our species.  If everything that can happen, does happen, what is the point of life?  In this scenario, is life just an unintended side effect of existence?

The question of existence is crazy.  Have you ever tried to imagine nothingness?  It can’t be done.  Most people, when they try to imagine nothing, picture a dark void.  A dark void isn’t nothing though; it’s still something.  When I try to imagine nothing it sends my brain into an error 404 state.  It’s still a question that gnaws away at me; why is there something rather than nothing? 

What I’m Doing

Listening: Wool by Hugh Howey.

Watching: Cool Worlds (YouTube), In Deep Geek (YouTube).

Support Mortgage Advisor on FIRE

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Financial Update

Assets

Premium Bonds: £30,200.00.

Stocks and Shares ISA: £89,202.25.

Fuck It Fund: £6,766.54.

Pensions: £93,282.54.

Residential Property Value: £237,228.00. 

Total Assets: £456,698.83.

Debts

Residential Mortgage: £184,200.23. 

Total Debts: £184,200.23.

Total Wealth: £272,498.60.

Due to Trump being a complete moron and seemingly wanting to antagonise everyone else, the markets have taken some hits.  The cynic in me thinks it could all be deliberate to try and drive the markets down, allowing the already wealthy to accumulate even more assets at knock-down prices.  Or maybe he’s just a fucking idiot.  

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I won £125 on the Premium Bonds this month.  Since April 2020, which is as far as I can look back, I’ve won £1,550 on them.  I could probably get a better return with another type of investment, but I like the (relatively) instant access nature as well as the possibility of winning a huge sum.  It’s not something I am pinning my FI hopes on, it’s just a convenient way to store funds whilst I wait for the ISA window to open again.

Haters gonna hate, doubters gonna doubt

Anyone who has ever seriously pursued financial independence knows that the doubters will come. They show up at family gatherings, in the workplace, or even in casual chats with friends. At first, their scepticism might seem harmless, with just a raised eyebrow or a dismissive laugh when you mention early retirement. But as you get deeper into your FI journey, the doubts often become louder, more pointed, and, at times, even discouraging.  

I’ve lost count of how many times I’ve heard:  

– “You’ll never have enough.”  

– “What if the stock market crashes?”  

– “You’ll be bored within a year.”

– “Why not just work like everyone else and enjoy life?” 

– “The stock market is bullshit.”

At first, I tried explaining the numbers, showing how careful planning, investing, and a frugal but fulfilling lifestyle make FI not just possible but practical.  However, I quickly realised that most people aren’t actually asking for a logical breakdown.  Instead, they’re projecting their own fears and doubts onto me. They’re stuck in a system that tells them to work until 67, then enjoy what’s left, and the idea of breaking free from that narrative makes them uncomfortable.  

Instead of letting their scepticism shake me, I’ve learnt to use it as fuel. Every doubtful comment reminds me why I’m doing this, which is to create a life of freedom, not just for the future, but right now. The more people push back, the more determined I become to prove, not to them, but to myself, that this path is worth it.  

Doubt also serves as a litmus test for my plan. If I can’t answer their concerns with confidence, maybe there’s a weak spot I need to address. Have I built enough of a buffer for market downturns? Do I have a plan for how I’ll spend my time post-FI? Their doubts don’t derail me.  They sharpen my strategy.  It’s almost like a middle finger to the doubters.

At the end of the day, I’m not on this journey to convince anyone else. My goal isn’t to argue or seek validation. The best response to doubt isn’t words – it’s action. It’s getting to FI on my own terms, living a life that aligns with my values, and proving, through my own freedom, that financial independence isn’t just a dream. It’s real. And it’s worth it.  

One of the biggest misconceptions about FI is that it’s just about money.  But the truth is, FI is a mindset shift first and a financial goal second. If you don’t rewire how you think about money, work, and freedom, you’ll never break out of the cycle that keeps most people trapped.

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At first, FI feels like a numbers game of cutting expenses, maximising savings, and growing investments. But as you get deeper into it, something changes. You start to see spending differently. The idea of upgrading your car every few years or chasing status symbols stops feeling like an achievement and starts looking like a financial trap. You realise that most people aren’t working to fund a life they love.  They’re working to fund a life that looks good on the surface but keeps them tied to their job forever.

The mental shift isn’t just about rejecting consumerism, though. It’s also about redefining success. Society tells us that success is climbing the career ladder, earning more, and buying bigger and better things. But on the FI path, success is measured in freedom.  It’s measured in the ability to say no to things that don’t align with your values, to walk away from toxic workplaces, and to spend your time how you actually want.

Another huge shift is how you think about risk. To most people, staying in a job until retirement feels safe. But after shifting to an FI mindset, you realise that depending on a single employer for decades is actually the biggest risk of all. Market crashes, job losses, health issues; any of these can pull the rug from under you. FI isn’t about taking wild risks, rather it’s about removing risk from your life by creating options.

Once you’ve made this shift, there’s no going back. You stop seeing FI as some extreme lifestyle choice and start seeing traditional retirement as the real gamble. While others are hoping they’ll have enough at 67, you’re building a life where work is optional far sooner. And that mental freedom? That’s the real win.

That’s all for this week.  I hope you have a great week ahead.

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DISCLAIMER

The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, 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.