What to do once Mortgage free??

alright_dave

Hi,

I'm mainly wondering what people did once they did become mortgage free, especially those who are on the younger end of the scale.

I'm currently 30 and I have calculated that I'll be mortgage free just before my 34th birthday. I'm currently single and have no children.

I don't like my job but it pays well and I have zero stress with it, obviously I could be in a position to retrain and being quite sporty myself, i quite fancy something within that industry, personal trainer or maybe something rehab based, possibly physio. I really don't know and just looking at options.

My house is a 2 bed mid terrace but in a very nice part of the city. I got seriously lucky when I bought, it was a big project and needed completely ripping out and starting again, I spent about 30k on renovation.

Mortgage was originally over 25 years but it's currently down to 8 years 3 months.

Current value 180k
Paid 94k
mortgage left 59k

bexster1975

Hi alright Dave

The simple answer to your question is anything you like.

I was mortgage neutral at 40. It now means I have options about how I work, where I work and when I work. From the new year I will be in paid employment two days a week. I plan to develop my own business and spend more time doing the things I want to do. I don't have any interest in further retraining, I am fully trained for my employment and business interests and should this change I can undertake training. If the business is successful, who knows what's next. I have a few big things I'd still like to do, but otherwise I'm very happy with things.

Best of luck to you, whatever you do next

Bexster

Escapar2020

This is the question I think about most often! I'm hoping to finish my mortgage in less than three years time, when I'll be 47. I'll be interested to see the answers you get!

Secret_Saving_Squirrel

At such a young age, it seems likely that your life will change, you may wish to have a partner, possibly children, and will need a larger home. So the journey will continue. Either way, I agree that you will have your freedom. Oh and I still work but only when we want to and in places where we like working. We have plenty of time to do the things we like, and time is something you can't buy more of. Good luck xx

alright_dave

Secret_Saving_Squirrel wrote: »

At such a young age, it seems likely that your life will change, you may wish to have a partner, possibly children, and will need a larger home. So the journey will continue. Either way, I agree that you will have your freedom. Oh and I still work but only when we want to and in places where we like working. We have plenty of time to do the things we like, and time is something you can't buy more of. Good luck xx

I would like to find a women to settle down with and eventually have children with her. I've always wanted to live abroad somewhere warm. Australia has always appealed but I really don't want to carry on with a job I don't like. Maybe southern Europe is an option? Maybe just go travelling for a year or 2. I think whatever happens I'm going to have to redo my GCSE's and then go onto A levels (I left school with 0 qualifications), so that should see me to the end of my mortgage then it frees me to do what I want in life (work wise).

It sounds like you have a great life though and something I would be looking at emulating.