Do you worry what you will do when MF?

StuartGMC

Well for us, with a possible MFD of October this year, it will initially result in about 44% of our net income being available to save but also some will be spent on holidays etc. As per my diary, we have need to have funds available for daughter once she is 18 which I think will require a minimum of £10k per year for three years to support her. We're off to Mexico on holiday this year, so perhaps in future years we'll get a couple of foreign holidays in each year, plus weekends away?

Hope to buy a Jaguar XF (2yr old not brand new - could never really justify that!) to replace our S-Type and then have fun travelling around more.

I don't expect to be giving up my job for some time yet, whilst it's stressful I am enjoying it presently developing my staff. With an annuity starting from when I'm 60 however, I may be able to consider retiring closer to 60 than 65.

I expect to spend the time at home continuing to monitor costs etc and more time on investments and savings against an expectation of high inflation from 2010 onwards....

However, being MF will remove the background pressure and give the option to just "walk away" if I want to, do less hours or even increase the voluntary work I do already.

In essence, being MF will open up many many choices.

Lunar_Eclipse

RosieTiger wrote: »

wouldn't it be great to think that financial drivers had nothing to do with the decision ?

Yes, that would be wonderful.

Lunar_Eclipse

StuartGMC wrote: »

or even increase the voluntary work I do already.
In essence, being MF will open up many many choices.

Yes, it will bring choices. I am very envious of you being so close. Although I am hoping you are on the wrong side of 40, thus buying me a little time to catch up! Don't tell me if I'm wrong!

But the reason for my reply is I would like to know more about your voluntary work if you're up for sharing. Almost pm'd you instead of replying, so please send me a message if it's more appropriate than my thread diversion!

StuartGMC

LunarEclipse

About to turn 44 so definitely the wrong side of 40 :rotfl::rotfl::rotfl:
Does that make it better?

I'll PM you on the voluntary item

Lunar_Eclipse

StuartGMC wrote: »

Does that make it better?

Yes, thanks. Shouldn't I know.

george_jetson

StuartGMC wrote: »

About to turn 44 so definitely the wrong side of 40

Right side surely? Everyone has a go at being less than 40, not everyone has the privilege of passing that milestone. The older you get, the more fortunate you are…

StuartGMC

george_jetson wrote: »

Right side surely? Everyone has a go at being less than 40, not everyone has the privilege of passing that milestone. The older you get, the more fortunate you are…

Actually you are far closer to the truth than you realise; peritonitis (occurs after burst appendix) at 14 and a major car crash at 29... you never know what life will throw at you!

jfox_2

hopefully pay off the mortgage by the time i'm 35 and then rent the place out to help pay for a new bigger mortgage and start the process all again!

poppyoscar_3

Am hoping to be MF within the next few years - but as I never want a mortgage again, and I'm not in my 'ultimate' house, we will save so we can be cash buyers for the next one!:rolleyes:

shirlgirl2004

Shortly after we're MF we'll have 2 lots of school fees to pay, they will be more than what our mortgage payments were.