Mortgage paid off... now what?

[sasguru]

Better invest it. I'd only spend it on drugs, booze and sex otherwise.

I'd probably waste the rest.

I picture you in my mind's eye as a small, mild, bookish librarian type who nurtures this alter(native) ego on the net.

[Fred Bloggs]

We paid our mortgage off about 3 years ago. We've decided that as we like where we live, the house is more than just fine (extended it significantly about 8 years ago) now we'll concentrate on building up the retirement pot and saving up to pay the kids fees for university in the hope that they'll leave uni without debt. At 54 now, I think I'll be able to go part time if I choose at around 60 or work extra time for toys, holidays and the like.

[MarillionFan]

I picture you in my mind's eye as a small, mild, bookish librarian type who nurtures this alter(native) ego on the net.

You couldn't be much further away from the truth Sas if you tried

[ChimpMaster]

Admittedly I do concur with MF's suggestion that a bigger house acts as a form of saving in itself. I'm also very much results oriented, and so taking on another mortgage would motivate me to try and pay it off. And cheap money may not be available for much longer.

More BTLs are another option, to try and generate more residual income so that there is less reliance on my dwindling contracting ability in the future. One of my main fears is how long I will be able to contract in my chosen field, because certainly it would be very difficult if my area dries up (Bobs' taking over if the technical forums are anything to go by).

My wife isn't high maintenance by any means, but she is very motivated and she has driven us to achieve more than I would have on my own. Problem is, she doesn't have any income of her own! (though to be fair she takes care of the kids).

Decisions decisions.

[Lockhouse]

I always make sure I have a large mortgage - otherwise I'd never get out of bed.

[DimPrawn]

I've never met anyone who regretted buying a much bigger house, with or without a big mortgage.

There's more chance of Atw getting laid than interest rates in the UK rising, no matter how high inflation goes.

I'd say you'll kick yourself in the future when you look back and think, blimey I got this house for only £2M, my cleaner earns more than that now!

[wobbegong]

I'd tell Mrs. ChimpMaster that she can have as large a mortgage as her salary will allow, coz having freed yourself from the yolk of slavery you're not about to jump back into the manacles. It's easy to spend other peoples' money, see how interested she is to shoulder the burden herself.

[Churchill]

I'd tell Mrs. ChimpMaster that she can have as large a mortgage as her salary will allow, coz having freed yourself from the yolk of slavery you're not about to jump back into the manacles. It's easy to spend other peoples' money, see how interested she is to shoulder the burden herself.

The worm that turned?

[milanbenes]

There's more chance of Atw getting laid than interest rates in the UK rising, no matter how high inflation goes.

DP, let's have a gentleman's bet on that one

you want to buy me the beer upfront or wait for the event and then buy me the beer ?

Milan.

[Churchill]

DP, let's have a gentleman's bet on that one

you want to buy me the beer upfront or wait for the event and then buy me the beer ?

Milan.

Has AtW got a girlfriend then?