How to pay your mortgage off in just three years and then never work again

Enoch Powell · 01-01-2018, 07:43

Quote:

Early retirement: Our road to financial independence

What if you had no mortgage to pay and didn't have to go to work?

That dream is a reality for Julie and Jason Buckley.

The couple, from the East Midlands, paid off their debts in just three years, and they haven't looked back since.

http://www.bbc.co.uk/news/av/uk-engl...l-independence

BBC going in for Daily Mail style clickbait now

At the end it says they don't need to work any more and it was simple - they receive rent from four properties, income from share dividends, solar arrays and book sales. See goyim, you too can win at the rat race! Now get back to work and you can be just like this couple!

Malcolm Tucker · 01-01-2018, 12:27

Don’t think I could pay it off in 3 years anyway, not without paying fees which would seem like a waste of money. Better off overpaying the maximum you can and putting the rest into the equity by extending it, new kitchen etc.

Visage · 01-01-2018, 12:34

Quote:

Originally Posted by Malcolm Tucker

Don’t think I could pay it off in 3 years anyway, not without paying fees which would seem like a waste of money. Better off overpaying the maximum you can and putting the rest into the equity by extending it, new kitchen etc.

Put excess cash into a pension, so you don't pay tax on it.

Malcolm Tucker · 01-01-2018, 12:40

Yeah true anything other than paying a chunk of cash just to be ‘free’ of a payment you’re clearly doing with your eyes closed anyway. Just checked mine, it’d be almost 10 grand in fees to overpay it all so quickly

Visage · 01-01-2018, 13:20

Depending on how the timing works with your age you can take a big chunk out of your pension tax free at a certain point.

So overpay, avoid tax, then withdraw the overpayments to pay off your mortgage early.

natalie · 01-01-2018, 14:00

Quote:

Originally Posted by Malcolm Tucker

Yeah true anything other than paying a chunk of cash just to be ‘free’ of a payment you’re clearly doing with your eyes closed anyway. Just checked mine, it’d be almost 10 grand in fees to overpay it all so quickly

But at the beginning of a mortgage like that you’re paying huge chunks of interest so what you’d pay in fees you’d save in interest anyway.

Enoch Powell · 01-01-2018, 22:22

I found more about these cunts... they say you can retire at 40 regardless of what you earn, you just have to save '50% to 75%' of what you earn. Yeah so if you're on £15k a year just live off £3,750 a year then. Easy. If it was 1975 maybe.

Quote:

Jason Buckley and his wife Julie are two people who know the secret, having both retired from the corporate world aged 43.

Essentially, it comes down to saving at least 50 per cent - if not 75 per cent - of your earnings.

The couple had both become fed-up, with Julie saying she found she was “never wanting to get out of bed in the morning.”

Jason, a former IT executive, says he punched the air with joy after he walked out of work.

The couple feature in a new Channel 4 programme, How To Retire At 40.

Jason and Julie, now 45 and 44, currently live in a campervan which allows them to travel all across the world.

Of course it helps that the couple were both earning £90,000 a year previously, but apparently anyone can retire young if you're savvy enough.

Quote:

Got it!
So, my wife and I must earn £90,000 a year and live
on around £40,000p.a. Rent out our expensive
home (we don't have one) and pocket £20,000p.a.
I'm a pensioner in UK and my wife and I subsist
on around £7,400. Happy to work except the
job market has scarpered onto the internet where
robots conduct crass interviews and recruiters
keep using words like "Brilliant!" and "Lovely!"
Oh - I nearly forgot. This article registered
97.4% on my hand built crapometer.

http://www.independent.co.uk/life-st...-a7828801.html

Malcolm Tucker · 01-01-2018, 22:48

lol, earning £90k a year doesn't "help" you retire at 40, it's absolutely fundamental

either that or earn 20k a year but have fuck all bills, literally no mortgage, rent or council tax. Maybe then you could tuck away the majority of your income for 20 years and then retire but it's pie in the sky projections, it relies on exceptional circumstances related to your income or total lack of outgoings or both.

Enoch Powell · 01-01-2018, 23:09

Plus they live in one of the cheaper parts of the country so £90k goes further than it would in most places re buying four properties. (Okay you could buy three properties in a cheap area, regardless of where you live, but at least their home property is in the cheap area anyway which helps a lot.)

It's funny that the BBC recently announced a plan to set itself up as official debunker of 'fake news' but they publish shite like this.

Malcolm Tucker · 02-01-2018, 00:00

It’s not fake news really because it’s truthful in its facts for these people, but what it is doing is doing this fashionable thing these days whereby a click bait headline derives interest but it’s factuallly irrelevant to the majority of the audience when the details are laid out.

‘Become a millionaire in 6 months’ or something was on there recently, and recalling a fortuitous story about teenagers who bought bitcoin when they were peanuts. Yeah, interesting story but it’s nothing more, engineering rare situations into a vague ‘how to’ type article is bullshit buzzfeed stuff. BBC should do better

01-01-2018, 12:27	#2
Malcolm Tucker The Enforcer Join Date: Dec 2008 Posts: 79,242	Don’t think I could pay it off in 3 years anyway, not without paying fees which would seem like a waste of money. Better off overpaying the maximum you can and putting the rest into the equity by extending it, new kitchen etc. __________________ If it walks like a Nazi, talks like a Nazi, salutes like a Nazi, it's probably an FBIPLANTBYJEWSWHOALSODID911BTW

01-01-2018, 12:40	#4
Malcolm Tucker The Enforcer Join Date: Dec 2008 Posts: 79,242	Yeah true anything other than paying a chunk of cash just to be ‘free’ of a payment you’re clearly doing with your eyes closed anyway. Just checked mine, it’d be almost 10 grand in fees to overpay it all so quickly __________________ If it walks like a Nazi, talks like a Nazi, salutes like a Nazi, it's probably an FBIPLANTBYJEWSWHOALSODID911BTW

01-01-2018, 13:20	#5
Visage Lord Lucan AKA: Bakez Join Date: Dec 2008 Posts: 45,879	Depending on how the timing works with your age you can take a big chunk out of your pension tax free at a certain point. So overpay, avoid tax, then withdraw the overpayments to pay off your mortgage early. __________________

01-01-2018, 22:48	#8
Malcolm Tucker The Enforcer Join Date: Dec 2008 Posts: 79,242	lol, earning £90k a year doesn't "help" you retire at 40, it's absolutely fundamental either that or earn 20k a year but have fuck all bills, literally no mortgage, rent or council tax. Maybe then you could tuck away the majority of your income for 20 years and then retire but it's pie in the sky projections, it relies on exceptional circumstances related to your income or total lack of outgoings or both. __________________ If it walks like a Nazi, talks like a Nazi, salutes like a Nazi, it's probably an FBIPLANTBYJEWSWHOALSODID911BTW

01-01-2018, 23:09	#9
Enoch Powell Putinbot, obviously AKA: ENOCH POWELL Join Date: Jul 2010 Posts: 96,368	Plus they live in one of the cheaper parts of the country so £90k goes further than it would in most places re buying four properties. (Okay you could buy three properties in a cheap area, regardless of where you live, but at least their home property is in the cheap area anyway which helps a lot.) It's funny that the BBC recently announced a plan to set itself up as official debunker of 'fake news' but they publish shite like this. __________________ The world is governed by very different personages from what is imagined by those who are not behind the scenes. — Benjamin Disraeli

02-01-2018, 00:00	#10
Malcolm Tucker The Enforcer Join Date: Dec 2008 Posts: 79,242	It’s not fake news really because it’s truthful in its facts for these people, but what it is doing is doing this fashionable thing these days whereby a click bait headline derives interest but it’s factuallly irrelevant to the majority of the audience when the details are laid out. ‘Become a millionaire in 6 months’ or something was on there recently, and recalling a fortuitous story about teenagers who bought bitcoin when they were peanuts. Yeah, interesting story but it’s nothing more, engineering rare situations into a vague ‘how to’ type article is bullshit buzzfeed stuff. BBC should do better __________________ If it walks like a Nazi, talks like a Nazi, salutes like a Nazi, it's probably an FBIPLANTBYJEWSWHOALSODID911BTW

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