So, when you have paid your mortgage off...

DansMum_2

Congratulations to all who have already managed the Mortgage Free status!!

My current target date is 01/01/2024 I'll be 48. My plan is to stay put til I'm 55 (ish) save like mad then I may be able to retire and move to the West Country and have a little house with a little land for me OH and all my pets and have two or three horses instead of one and play with my horses all day .... bliss

PipPip

I guess I will switch to saving and investing. Also I have a feeling that our mortgage payment might be neatly replaced by school fees, depending on wins the current debate between my wife and I (I'm all for free state schools, they were fine for me, but my wife is not from the UK and distrusts the state, so she wants private schooling for our kids, now aged 2 and 9 months).

I was mortgage free until I was 35 anyway as I owned no property, and at aged 28 I was living almost rent free (well, £300 per month) as a lodger in a friends flat in Clapham, London and I was earning around £100k per year, so I have experienced a life of some material excess already. It did not make me particularly happy, which is why I do not dream about having lots more disposable income to spend on luxury stuff. For me its all about simply retiring as early as possible on money that I have provided for myself and living a long happy and modest life without needing to work for anyone.