Just being nosey,really!!!!

Jock_Tight

LavenderBees wrote: »

But please don't rub it in....:rotfl:

It was reading the success stories on here that gave us the motivation and drive we needed on the MF journey

AmyandArthur

Hi - newbie here, and just browsing around now I'm logged in rather than lurking. This is a really interesting thread. We became MF in 2009 (I was 39, he was 43). This came to fruition after a self imposed six-years-to-MF plan we instigated in 2005. Once we were in the swing of it, we managed to contract the six years to four and a bit, and eventually paid it off, sold the house and bought another outright in 2009.

Like many on here we dreamed of all the things we'd do once MF; less hours at work, better lifestyle etc. Interestingly, once reality dawned the main aim of reducing our working hours was a non-starter as our employers simply won't countenance it - and still won't. If anything we're working longer hours than ever.

But more than the reduced working hours not being possible, unless we get new jobs (which would seem silly right now), the real irony is that having paid the damned mortgage off, we now seem to be addicted to the self imposed frugality learned during our six-years-to-MF period. Annoyingly, the buzz of saving now fair outweighs the thrill of spending it.

pammyj74

I know exactly what you mean Amy, I feel like I will be like that but I will still be saving for things I need done to the house and then saving to have extra to put towards my forever home eventually but it will be so nice to buy it outright like you did. I bet its great being a cash buyer and have that level over the mortgaged people to buy a property

Bufger

Jock_Tight wrote: »

Yes: https://forums.moneysavingexpert.com/discussion/2101757

Thanks for quoting that. I just read the whole thing from start to finish! what a fantastic and exciting journey.

I'm only 3 years into my mortgage and only started overpaying this year but I hope to be mortgage free by 40 (11 years away) with a 120k mortgage currently.

Lots of very inspirational people on here, its great!

AmyandArthur

So wish I'd found this site when we started our scary journey to MFreedom. There were many months I thought we were certifiable. Glad we stuck with it though.

Octobergirl

So lovely to hear of the successes and people living the dream. For us, it will mean saving as we have no pensions to speak of, maybe a btl for future income, a big fat juicy holiday in Vegas, then putting money in the pot for the children. I would like DS to have the opportunity to go to private school, DD will need a lot of care in the future, and OH wants to reduce his hours......blimey, not sure our mortgage payments will stretch to all that!

Happier_Me

No one has posted to this thread for a while and as it's the start of 2014 I thought I would add my plans (or is it wish list?) for life after mortgage freedom. I think it's good to remind ourselves why we are doing this every now and then;)

We are aiming for an MF date of mid to late 2016, the year I turn 41. After this we will be:

• Spending a little on the house - it is being neglected a little in our mortgage free quest. (I am fairly certain the interior dimensions of some of our rooms are reducing because of the amount of crayon being added to the walls).
• Going on a fantastic holiday or three with the kids

Things get a little complicated after this - we want to retire early (as close to 55 as possible) but would also like to calm down and live a little more now. So this is my wish list, not sure how much of this we will achieve:

• Save a deposit for 2 to 3 BTL's to boost our pension income which will take another couple of years of hard graft). We will be back on the MFW forum if we go down this route.
• Buy a property somewhere sunny ready for retirement
• Improve our work life balance somehow.

Maybe with some planning this is all achievable. We are in our forever family home now but this isn't our dream retirement home so we could sell up and buy a smaller property in the UK as well as a modest villa abroad in the future.


Ooh, decisions, decisions. I can't wait!

Alchemilla

What an inspiring thread.
We want to pay off mortgage in time to see three kids through uni.

usa1

I would put Ds1 in private school and rent out my current house and buy a cheapo-doer-upper

GwylimT

We will be soon, 2 years if we keep over paying. Our monthly payments aren't high, around £400, but as we aren't high earners that is quite a bit, we'll continue saving the same amount each month.

The savings will be mainly split three ways, one will be a rainy day/retirement top up, childrens accounts and then a small treat fund.