Just a little (link) love: drunk and Thor’s hammer edition
May 25, 2017
When we find our new home, we’re moving to a place to live, not to show off.
We were originally on track to pay off our first home in about 14 years. This is me getting ambitious about working the numbers, can we pay the second one off in 10? Maybe. We’ll still take a 30 year loan but there’s no way I’m settling down to take 30 years to pay it off.
Exactly how quickly we’ll do that, though, is something I’m still mulling over constantly. No answer is quite right yet. Need2Save did a great roundup on the two sides of the mortgage payoff loan here, and left me still feeling conflicted about what I want to set as my top priority.
THIS IS THE CUTEST: First Annual ‘Comedy Wildlife Photography Awards
I like this discussion of how we define financial freedom for ourselves. I’m working on our version of financial freedom which, now, means the ability to make major life changes without serious negative consequences.
This NYTimes article on relying on “daughter care” made me cross.
I love LMM and I also love his mother’s work: “Maternal health and mental healthcare are essential for mom AND baby.”
Elon Musk’s SpaceX fined for underpaying workers. Elon Musk is how wealthy? Pretty wealthy. But his company can’t comply with standard CA labor laws, instead designing shifts that deny workers their breaks?
We don’t live in FEAR of earthquakes but now that we’re taking on an even bigger financial stake in property in CA where we’re due for the Big One in the next 20-30 years, I’m definitely all about emergency planning. Because natural disasters happen with regularity.
Worthy: https://youtu.be/-ioTc–V860
WORTHY!
I paid off my mortgage and it’s by far the best thing I ever did. Not having the mortgage was such a freeing feeling and one that I hope not to have again. While I may have been able to make more in the stock market. For me it was worth it to not have anymore debt 🙂
Mustard Seed Money recently posted…Are Housemates Worth the Financial Benefits?
“Freeing feeling” – I’m sure it is! I would LOVE to be on the other side of the mortgage and not have it feel like it’s hanging over my head.
Thank you for the mention and link. Its a complicated issue so no wonder you still aren’t sure what is best.
You’re welcome! I’ll figure out what’s best for us once we get into it all.
These are great links – I really liked Cait’s piece about a home not being for photos. We have done some minor decor changes over time, but really not all that many. Most purchases were for function, as were most projects (yay drainage). My husband is sort of into design, but not willing to spend the money – so if he can’t get a really good deal we do without. I did feel some external pressure early on to decorate – but it wore off quickly.
30 years is a long time. I don’t know that we could kill ours in 10 without making it a singular focus, but I do prioritize pre-payment despite the math indicating I shouldn’t. I suspect once it is small enough, I won’t care about it anymore.
Yeah, our focus is getting the function in there but we’ll have to make some concessions to form as well if we’re replacing things entirely. You’re right, though, 10 is overly ambitious. 15-20 might be more accurate.
I vote for the 10-year plan (not that you asked for anyone’s vote). Thank you for the link to our post! I also vote for a smaller big one than anyone is expecting.
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I should clarify that there is no plan actually associated with the ten year “plan” 😀 It’s more of a ten-year-I-think-I-can right now.