What do you do when mortgage free?

Innys

Hi everyone,

I have a question for MFWs. When you pay off your mortgage what do you intend to do?

Sell up? Go on a round the world tour? Quit your job for a less stressful one? Retire?

All of the above???

Just wondering...

angelavdavis

A subject frequently pondered by MFWs!

I will work for a year at the current pace, but instead of paying and overpaying the mortgage, I will put these funds into investments.

Then I will take a holiday of a lifetime with my OH and go part time to concentrate on other things, such as contemplating having children if we can.

Daft_Pegasus

Short term:
Build up some savings
Buy a holiday home
Investments

Mid term:
Early retirement
Holiday of a lifetime (my current plan is for a 2 year holiday round the world)
Help the kids out when they leave home

LumpyCustard_2

That's a good question, and one that I don't think about much because I'm more focussed on the goal of paying it down/off than on the reason for doing it. But I guess it would be nice to have (considerably) more disposable income, and it would give me the option of changing careers and getting some training if I wanted to.

iieee

I'm with Angela - will probably stay in my current job for a little while to build up some savings, then look for a less stressful part-time job after that. My main MFW aim is to get out of my current job.:D

Miss_Pink_3

I've always wanted to follow the formula 1 world championship after the world. That would be one of my dreams to go to all the races in one season. But I would stay in my job for abit to build up some nice savings first for a few years.

Riq

My parents paid of their mortgage years and years ago and have just saved up. My parents still live in the same house since they got married 28 or so years ago.

They just save their money, they have never been extravagant with money and have never had loans for anything. So I guess you just save your money.

Jonbvn

I think the key is to lead a stress free happy life. Being MF obviously helps with that goal. After that it really is up to the individual.

Little_Mama

Would save up to buy a place in France

We'd probably stay here until the kiddies finish school but hope to have bought somewhere in the meantime where we can do up and holiday in as & when the mood takes us......she says wistfully.......

belfastgirl23

Buy a holiday home abroad so I'm a MW as well as a MFW

Dithering_Dad

I'm hopefuly going to start a new 3 yr challenge to sort out our pensions (mine, Mrs Dither's and maybe Stakeholders for the kids). With our mortgage gone and our retirement secure there hopefully won't be much that the bad old world can throw at us.