Mortgage paid off - Anti-climax with the choice of freedom

Kumara

Just shared our new expenditure and story of our next year here
https://forums.moneysavingexpert.com/discussion/comment/73073702#Comment_73073702

After saving for 10 years and longing to clear the mortgage off it ended up being a bit of an anti-climax in the end, with no celebration due to me quitting my job. Having been able to get through the awful experience of being unhappy and stressed in my job in the last few months knowing I could quit due to having no mortgage. Made all those hard frugal 120 months of saving, even more worth it.

The goal of paying off our mortgage was to attain freedom and we have that now.

How did life pan out for you after you cleared your mortgage and was freedom a primary goal?

Downshifterella

Wow well done for paying off the mortgage !
Sorry to hear work has been so stressful...been there and a big part of MF plans for me is having some more control in that aspect of life.

Give some time to settle would be my advice , not MF yet so not talking from experience there!;) But I'm thinking it at least gives you a bit of space to think what and where next .

X

bexster1975

Hello and congratulations :beer:

It was all about freedom for me. I changed jobs rather than quit mine. I'm hoping to go to three days a week next year so I can develop my sideline. The best bit is if the sideline makes zero money, I can still live very well on wages from three days a week, including saving for retirement.

Good luck to you. Think about what you would like to do with your freedom.

Bexster

Kittenkirst

Amazing to pay it off in ten years- very inspiring to read!

enthusiasticsaver

Well done on clearing it in 10 years and hope you enjoy your new found freedom. At least you have been able to give up a job you were miserable in. We planned ours to finish 10 years before retirement. We were able to redirect the money we were paying to the mortgage to our daughters for university and to make further payments towards our pension for early retirement as we planned to go 8 years earlier than our state pension age of 66. Well we planned actually to go 6 years early (age 60) but managed to do better investment wise than we expected so went at 58 instead.

Kumara

bexster1975 wrote: »

Hello and congratulations :beer:

It was all about freedom for me. I changed jobs rather than quit mine. I'm hoping to go to three days a week next year so I can develop my sideline. The best bit is if the sideline makes zero money, I can still live very well on wages from three days a week, including saving for retirement.

Good luck to you. Think about what you would like to do with your freedom.

Bexster

Thats awesome Bexster.

Exactly for me, if my 1 year business build project fails I only need a 3 day part time job to take us up a level.

The reality that it is highly likely I never need to work a full time job again, makes those very lean 10 years so worth it!

Betterthanever

I felt a bit like that after clearing my other debt. It has become such a focus, I didn't quite know how to deal with being debt free after so long!

Give yourself a bit of time to take it in properly. It may well suddenly hit you.

And wooooohoooooo!!!! :j:j:j:j:j

Kumara

Betterthanever wrote: »

I felt a bit like that after clearing my other debt. It has become such a focus, I didn't quite know how to deal with being debt free after so long!

Give yourself a bit of time to take it in properly. It may well suddenly hit you.

And wooooohoooooo!!!! :j:j:j:j:j

Oh, the focus I know what you mean. I called this my "mortgage obsession"

You do feel strangely attached to mortgage debt and credit cards I have found, I think its the double issue with this whole consumer debt problem we have worldwide.

Kumara

enthusiasticsaver wrote: »

Well done on clearing it in 10 years and hope you enjoy your new found freedom. At least you have been able to give up a job you were miserable in. We planned ours to finish 10 years before retirement. We were able to redirect the money we were paying to the mortgage to our daughters for university and to make further payments towards our pension for early retirement as we planned to go 8 years earlier than our state pension age of 66. Well we planned actually to go 6 years early (age 60) but managed to do better investment wise than we expected so went at 58 instead.

Makes it all worth it

bexster1975

Come on Kumara, what the plan?

Bexster

Escapar2020

I'm not sure what to expect once I do become MF. I think it will be like a new pair of shoes, some pain to start, then supreme comfort (and hopefully no holes if it take care!)