Finances2020
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Not helpful but I think it is madness. Pensions, mortgage & college are the things to work on.We can't decide if this is madness
Is it sorted though? Depends on when they joined and scheme specifics. I'd want to be retiring by 60, with kids through college and slightly accelerated mortgage paid off. I wouldn't let foreign property notions derail that. Horses for courses though.So you are two public servants so I assume you have very good pensions. So saving for your retirement is not a consideration for you. You will be very well off in retirement. That is sorted.
Yes these are all things we've considered- we covered these exact points last night! Teenagers will probably be an issue but those years will be finite hopefully(!). The last 2 points are something we are carefully consideringA few other things to consider:
A non-financial issue to consider is the ages of the children and the possibility that they won't want to go to the same place each year during their teenage years. They may also have sporting or other commitments that limit the time spent abroad?
Making a Capital investment also brings maintenance and running costs that should also be considered.
Locking into one location in Spain limits your ability to holiday in multiple locations in Spain and other destinations.
In the same boat - sitting on the fence for a while. Have you explored Portugal as an option.Thanks all. I've read all of Lepers posts, I've been googling anything to do with holiday homes for a long time!
Re spending/saving - we probably save at least 1000 per month, not as much as we should though we recently paid an extra 10k off the mortgage. We also have a bit of a holiday problem/addiction and definitely spend too much on them every year.
I do feel like we have the capacity to save more with more attention paid to spending- we are not being frugal now as we don't particularly need to but we could definitely cut back and save more.
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