Homeless to Homeowner, How I Paid my Mortgage off Early, i guess i got lucky

After contracting out of serps....(state earnings related pension scheme) in the 1980s I invested the money which in 2023 was used to pay my mortgage off but had I put that money back into the state pension scheme as I was advised to I would have not been able to pay off my mortgage nor would I get any extra money at pension age.

[josephhalwagy]

Mate, I haven't seen a clip from you for a while.

I hope you are keeping healthy and well and staying this way through out 2025

Cheers

[ewbktjz]

Hope everything is Ok Alan missing your posts

[roamingnomad]

The main reason finances isn't taught in school is so people don't understand how money works, what a result mate great to hear stories like this

[topfuelteddy]

Well done, did similar, drive old cars, have crap phones, caravan holidays but i won't be working until I'm 80.

[chrisgroves]

I paid my mortgage off in 2021 when they said the interest rates where going up, i had been saving for 3 years for a new car but instead took out a loan over 2 years and with money i had saved paid it off, if i had not done that i would still be paying £460 ++ a month til 2029, i worked most weeks between 45 to 60 hours (hgv driving) before that and was paying extra off the mortgage every month, when the final loan payment came off i can honestly say i felt a weight had lifted off my shoulders now work in warehouse and do 40 hours.

[Lord-Brett-Sinclair]

Well done Alan, your home is a rock solid investment, never sell up, its always a place of safety financially as well as physically. Always love a story of someone beating the system.

[mart]

Well done. I'm overpaying my mortgage with the goal to have it paid off in 9 years, instead of the 22 year term. 9 years because that's when my 1st born turns 18 and want to be able to support (not spoil) my kids in their first steps into adulthood.

[stephenboulton]

Youre life path has mirrored mine 100%
Im now mortgage free..58 years of age retired and debt free...ive really enjoyed watching youre videos esp in the filipines and now back home...youre views on life are spot on with mine...keep up the great vids mate..👍👏

[grahamshillingford]

Great vlog Allan... thank you for the very important information regarding yourself opting out of SERPS...

[StevenGodfrey]

You've had some ups and downs mate but you've battled hard and worked bloody hard and came out smiling. Well done Sir ! 👏 💪👌👍🏻

[AndyP-bz]

You purchased your house at exactly the right time. I did something similar Alan, in late 2017 I bought 50% of this property with a mortgage and paid rent on the other 50% at a nominal rent of of £235 a month. I paid off the mortgage within 6 years and then I staircased another 10% of the property this year now the rent is @ £194. I'm due to own the whole house by late 2028 and every time I buy more the rent gets cheaper. Thankgod I'm not renting on the open market right now, that market has gone nuts.

[MyJon]

I've shared this blog with a family member. Great story listening to both your hardship and luck👍

[AlanCooney]

Huge respect and thanks to Alan sharing this fascinating video!!! Life has many challenges from day to day and can be $hit! But very occasionally good luck can come your way, and when it does, grasp it with both hands and enjoy! Alan deserves some good times! Keep on keeping on!!!

[livefreeordie-gvkx]

Good on you Alan from Australia. Just upgraded from a mk4 to a mk5 is my small victory. Keep on keeping on brother!

[martinafitzgerald]

Well done, you ! It's lovely to hear a good luck story for a change !

[johnyoung]

Well done Alan, and thankyou for this video, I’m sure a lot of viewers will find it very helpful

[cameronmoffat]

Thanks for sharing your story Alan. All the best.😊

[petejames]

People don't even try to overpay their mortgage these days, just a little and often knocks years off ... don't buy things you can't afford, like cars, holidays, phones etc, just pay off mortgage instead ... wish I had done this years ago .... well done Alan

[daffyduk]

The "free money " private pension contributions were originally deducted from your salary. I'm glad you're sorted now. I paid mine off early around 2018, after a divorced involved selling the family home, proceeds split 50/50, mine went towards a smaller home & I was able to make additional payments on that mortgage to get it cleared early. A huge weight off your shoulders. And when you've become single & the sole earner, it's a real worry until the mortgage is paid - what if a bad health condition arises. No-one else to bail you out.

[tyremango]

Hi mate,

I did the same thing (opt-out). I forgot all about this until I came to live in the Philippines. It's worth quite a lot of money now. I do have private and company pensions too.

I am glad I took my advisors advice back in the 80's.

All the best mate.

Simon