Having taken 2 months to set a budget and as part of this, making a plan of 6 yrs to pay off our mortgage, I am putting off working out what to do with the extra $4,000 - $4,4000 a month we will have in our pocket once the mortgage is repaid.
So far, I have been having many non-mustachian dreams...getting hubby his private pilots licence, big expensive overseas holidays, upgrading the car to an expensive SUV...it's ridiculous. I need to get all this out of my head, but I can't. Hopefully rational thought will come in soon.
Any tips on what we should do when it's paid off? With our current retirement plan we will be well looked after by our employer so no worries there about finances at all (hubby on track to receive $35,000 per year and I will get about $20,000 per year in retirement) ..plus we can access this at age 55 (early acess). I will be 35 when the house is paid off, hubby 37. We have no other debt besides our house mortgage and 2 investment property mortgages. We have 1 child and plan to have another soon.
Any tips greatly appreciated.