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What's some personal finance goals after you've bought a house?
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Well done to you! You are in a better position than many others of your age.
When I paid off my mortgage it didn't affect my lifestyle at all. Instead of my spare cash paying off the mortgage every month it went into building up my savings and later, S&S ISA investments. Fast forward to years later and I'm no longer able to work and really glad I have my savings to fall back on.
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To be mortgage neutral (mortgage balance vs S&S ISA balance)"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
When the house is done, and free cashflow is much bigger, don't forget to spend (within reason). Have a bit of fun. Buy that dream Rolex or Lambo.0
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I did not and still understand stock markets etc.I brought my house in December 2000, I then overpaid the mortgage every month.Even rented out a room with the room for rent scheme to a friend.11 year and 4 months later I was mortgage free.Rented the house for 9 more years.I sold up 2 years ago and live with the wife in our large 3 bed flat.Got back 4 X what i paid for my house. Plus rent.Now looking for 5 year fixed rate savings to provide a nice little income.Also retired at 43.I dont know if I made all the right moves etc, But Im happy.0
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