Thank you for dropping by; I'm currently on holiday and unable to respond to any comments until the weekend :-)
If previous years are anything to go by I'm going to return from our week in Portugal with a renewed vigour to get going on our plans and move there as soon as possible; it happens every time; holidays are the perfect time to dream and set goals.
No doubt during our week away dh and I will discuss our mortgage and how to get rid of it; being mortgage free has always been our long term aim.
At the moment our mortgage debt stands at £117,799 and we have exactly 20 years of payments outstanding; in twenty years hubby will be 51 and I will be 65 ;-)
Our plan is to be mortgage {financially} free by 2030.
The question is how?
There are so many different scenarios; sell our house in the UK and buy outright a small and fairly cheap place in Portugal {still possible in some areas}; buy a house to run as an income producing business and overpay the mortgage; rent out our house in the UK, overpay the mortgage, ending it early and then have ongoing rental income.
A lot of this all depends on what happens in the next two years, however I know that hubby is very keen to start overpaying the mortgage again if I get a job; he'd like to reduce the term.
It's very easy to get caught up in short term planning, whereas we probably need to be thinking more about the long term.
Is your focus on the short term or do you constantly think long term?
I think it's always nice to have a dream. I find myself thinking of yearly goals, but lately I have been thinking long term as well, especially what next years goals are going to be. I want to pay my car off, start saving for a wedding, beef up my e-fund, etc. It's nice to have a dream I think. We wouldn't be anything without them. :)
ReplyDeleteBecause we have come to the realisation that we will never again own our own home, our dream is to spend the first years of our retirement travelling around Australia in a mobile home, stopping whenever and always chasing the warmer weather. Hope you enjoyed your holiday !!!1
ReplyDeleteI am a long term planner. Our mortgage will be paid off in 18 years (we are prepaying). We have no plans to move, though it is tempting to get into a better school district.
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