this post was submitted on 19 Nov 2023
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I have a plan but timeframes and priorities have changed over the years. For quite a while we have been squirreling away into managed funds and built up quite a bit (for us, which is very relative), the idea being to use the 4% rule to decide when to retire.
We are likely to move into a bigger place in the near future because of a family shakeup, and we are going to have to dig into retirement savings to do it. However, I think paying off the mortgage will happen within 5-10 years depending on what interest rates do from here. At current levels I think it's a priority over almost anything else.
My plan is basically still to use the 4% rule to determine when we retire. But mortgage first, so that's going to be further away than I had hoped.