Mortgage Payoff and Travel

Zuma

Hi,

I am looking to radically change my life, sell up and travel the world.

My plan is to sell my house, pay off the 72K mortgage and pocket 70K profit. I will then travel the world for a year or 2 and then rent and work to fund further traveling. Crazy I know but looking for some advice on the best way of doing this. I currently have a offset mortgage.

Am I best just paying off and investing the money somewhere or is there a better way. If not what is the best way to invest the money so that I get the best from the capital. I don't have much savings so I will need to access this money to some degree.

Any help appreciated

Zuma

newgirly

Why not consider renting it out while travelling and just working as you go?

Zuma

Thanks for the reply. I need the funds to travel

Monkeychops16

I really admire you grabbing life like that. What a mega opportunity. No advice but lot's of admiration.

:T

Luckyinlife

Advise on here is mainly how to pay your mortgage off which i guess you can do when you sell the house :]

only advise i would give is enjoy every second of it :]

ourcornercottage

Me and BF DID this 11 years ago don't regret it a bit.

Put money in interest making accounts whilst you aren't using it, if there's any that you aren't going to use put in a longer term option with higher rates. My best advise is getting someone you 100% trust access to ones of your accounts in case you need money. In fact my parents are still signatories on my account now!!!

Have fun :-)

Zuma

Thanks for the support everyone, very encouraging. I guess I need to post in one of the investment forums and look to do as advised.

Much appreciated everyone so far