Would you go part time/quit your job if your mortgage was paid off?

[Purpledragonz]

Just that really!

No, but I enjoy my job and it pays well. What I would do is invest the mortgage money in a pension and savings and I'd retire early.

No. I would finally have some money to go out to dinner and have a holiday. Plus all the other bills still need paying. Im also a bit of a make hay whikst the sunshines person as you never know when health might turn.

I already work part-time so I'd just keep my hours as they are. Our mortgage is only £350 though.

No, I'm an academic and I love my work but I'd go PT to reduce admin and teaching load (she imagines) and use the extra time to write.

This. And university for the dc, but pension and holidays mainly.

No. I want to retire early so I need every penny!

Nope. Still have all the usual bills to pay each month and need to save for unexpected stuff going wrong. Holidays etc too. You still need a full time wage if you have a large family and MF.

Also want to add that between to work full time now and put good money aside if you had to retire early due to hwkathbreasons you want to be able tonaffoed best care you can

No. I will be 45 when we're mortgage free. We have lots more to pay for after then, finish this doer upper/ top up pension/ universities for DC.

No! Our mortgage was paid off a few years ago, I’m still full time.
Partly because my job isn’t one I can do part time, partly because other bills are high and we have 2 dc at university who we are funding.

We do save and I plan to change jobs in a couple of years, reducing my hours when we are no longer supporting our dc.

No. Our mortgage was paid off about 10 years ago and we both still work FT. Life is expensive even though we are not big spenders and live fairly modestly.
One child at uni and another at primary. Chucking loads of money into tuition to try and get her into grammar and avoid private but she will likely need a uni fund too. Driving lessons and insurance were a huge expense so we'll have to do that again for child 2. We love to have one big holiday a year and make the kids welcome to join us for as long as they want to. Would love to have enough to help each child with a house deposit too as I don't see how they will get on the ladder without us.
I'm really hoping to retire at 60 (10 years away) but to have a decent quality of life including nice holidays I need to keep putting as much into my pension as I can.
And I actually really enjoy my job (law). I just wish the hours and stress were less.

Definitely not! Mortgage is a tiny part of outgoings- the cost of having 2 DC at Uni is crippling. Their rent alone is £2000 a month (not covered by the maintenance loan). Hopefully, when they finish though in 5 years, life should be easier.

I'm pt anyway. Dp is hopefully retiring early in 18 months or so and I'll quit to go travelling

We didn't because paying off the mortgage coincided with DS still at university and all the costs there, also still all the bills to pay. Our mortgage was quite small anyway so didn't make the huge difference that people expect.

Surely not. Mortgage is relatively cheap compared to University costs and saving for retirement

No. I have worked part-time since having children and am now increasing my hours as youngest goes to secondary to prepare for the 10 years of ‘kids at uni’ stage of life. Grateful not to have a mortgage at this time of high interest rates but still have plenty of other bills to pay and we would like to retire early 60s so need to top up pensions.

No, both because the children are more expensive as they are older and because we'd like some spare money to splash on "extras" (e.g. nicer holidays). Plus we want to throw some more money at pensions.

I don't see the point of carefully budgeting for years, to then make a decision that means you have to keep budgeting for more years.

(If you've just paid off your mortgage it's also likely it wasn't at the huge eye watering levels that are required today. So "it's a bit of spare money" rather than "basically a whole salary" money. So my answer might be different if our mortgage payments were much higher.)

My mortgage will be paid at 46 I hope. Plan is for to plough that money into my pension for 10 years and retire early.

No. I’m 58 and we paid our mortgage when we were in our mid-40s. I work full time. The reason is for a pension, and for income for daily living. I have a long way to go before my pension will be enough, as I was part time when my DC were young. No final salary pensions.

No, I like my job!

I did, without a mortgage we live happily on me working 24 hours a week.

Yes, I already did. Working three days a week is GREAT.

No I didnt!

Bills, house maintenance , Savings for next car, new boiler, quality of life, kids at Uni all need funding.

And unless you want to work until you are 67 or 68 what about those years you need to fully fund until state pension kicks in? Which will need the top up of other pension. ( and car / boiler etc)

Those of you already working p/t how will your pensions look at 60?

No we haven't, we're enjoying not worrying about money at all and having a good disposable income

We were mortgage free a few years ago then moved and took out another mortgage - we will be mortgage free on this house in a year or so.
I work so that the mortgage can be paid off, once it is I would like to not work as dh can manage the bills etc but i will probably need to keep working for retirement and also I am not sure what I would do all day I don't want to spend my whole day doing housework