One Day You Wake Up….

….and you can literally see that there are only a trickle of payments to go before you are debt free🎉. Then you realize that you’ve spent almost all of your compounding years paying off debt😞. Granted if you hadn’t done that, you’d still have debt hanging out, whispering sweet nothings in your ears when you went out to a restaurant, tried to go on vacation or learn a new hobby. Better that the debt is gone, but lordy it really makes you wonder where all the time went. Then you daydream about when you will retire and how many years are left to make that happen?

I breathe in and I remember that I am not doing this alone. I cannot believe that it is almost done. I’ll be going back to what I did in 2017 which was live on 50% of my income when saving for a year of my emergency fund. I never seriously thought about buying any real estate until now….not til 2024. Now I have to think about the rising cost of rent while trying to retire and plan for a set amount of spending.

By the time I retire, my rent increases may outrun my medical bills due to old age. How crazy is that?!?!? I say 2024 because 2023 is dedicated to my EF. Then if I decide to purchase something, it won’t just be the cost of the property. I am looking at:

  • Closing cost
  • Savings for potential housing issues
  • 20% down so I am not paying for PMI insurance
  • The actual housing loan

I mean the possibilities would be endless if I didn’t live in one of the most expensive states for housing increases in the past two years. I am thinking a 30 year loan on a two bedroom w/ office. Year-wise, I see an early to mid 2000 condo which will give me more square footage in the range of $349,000. I’ll hope that I don’t get outbid by a cash-only offer. I won’t look in the city and will instead be checking out the area I currently live in which is more suburbia.

Do you have any thoughts on my short term (year 1) debt free plans? Do you rent and think about owning? Do you own and wish you rented due to the upkeep needed? I did some research of course and it is looking like I will continue to rent and account for that in my savings until I move into a nice long term care place 😔🥺. Are you ever too old… turns out yes you definitely can be too old.

Til next time 🥰…..


1 Comment

  1. Afro Penny says:

    Ummm….I did not go to that link. I don’t need anyone to remind me I’m getting old. But this: “Then you realize that you’ve spent almost all of your compounding years paying off debt😞.” That is a gut punch…

    In any instance, I look forward to reading all about your new, debt-free life. So inspired by your journey.


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