We just finished paying off our mortgage after 14 years, right as our fixed rate of 1.65% was ending. It’s such a relief not having to stress about house payments now that our income is tighter. Next, we plan to boost our superannuation and explore other ways to build our wealth. We’re fortunate we bought our home before housing prices skyrocketed, even though it means we probably won’t upsize soon. Instead, we will keep improving our current home.
congrats on paying off ur mortgage! thats awesome. have u thought about investing in etfs? they’re a great way to diversify without needing heaps of knowledge. also, dont forget to treat urself a bit - maybe take a nice holiday to celebrate? u deserve it after 14 years of hard work!
Congratulations on this huge milestone! Paying off a mortgage is no small feat. It’s wise to focus on superannuation now. Have you considered diversifying your investments? With the current market, there might be opportunities in index funds or REITs. These can provide steady returns without the hassle of direct property management. Also, don’t forget to reassess your insurance needs. With no mortgage, you might be able to reduce some coverage and save money there. Whatever you decide, make sure to celebrate this achievement. You’ve earned it!
Wow, that’s amazing! Congrats on paying off your mortgage. I’m curious, how did you stay motivated during those 14 years? Do you have any tips for others trying to pay off their mortgage early? It’s great you’re focusing on superannuation now. Have you considered other investment options too?