Sarah Wells: Single, a couple with kids or divorced? What comes next after you’ve paid off the mortgage

No mortgage? Lucky you! You’ve reached a milestone many Australians aspire to — freedom from home loan repayments. But with great freedom comes great responsibility — to make smart financial decisions. If you’re in mid life without a mortgage, you’re in a prime position to accelerate your savings and investments. But the question is: what next? Whether you’re single, part of a couple with kids, or recently divorced, your financial priorities will vary. But in each case, the core principles of investing remain the same — balancing short-term goals with long-term security, and most importantly, investing with consistency. Here’s three scenarios to help guide your approach. The single investor You’re flying solo. No mortgage. Maybe you’re enjoying the flexibility of not having to consult anyone about your spending or savings. But, without a partner or children to factor in, your goals can sometimes feel like a moving target. So, what do you need? The couple with kids Life with kids is busy, and your financial priorities are a bit more complicated. You’re managing a household, saving for your kids’ futures, and trying to balance today’s enjoyment with tomorrow’s financial stability. The newly single divorcee If you’ve recently gone through a divorce, your financial landscape might feel a little unsettled. But you’ve also got the chance to reshape your financial future without having to negotiate with anyone else. Freedom! Sarah Wells is a Perth money and finance commentator