JerseyGirl37
Confused about dryer sheets
Hi All -
So my 2013 goal is to pay down all my debt so that I can retire by the time I reach the big 4-0. I am married with 2 kids, ages 7 & 5. I have been a lawyer for the past 12 years and really don't like it. Currently, I work p/t, 4 days a week. It's stressful for my husband and me as we juggle 2 kids and 2 careers. I want to be able to "retire" in 2015 when I reach 40 and take a year or two off. After that, I might look into a career change....an easy going part time job at a clothing store or florist or something...
We considered me becoming a SAHM now. But, I would feel guilty leaving all the bills to my husband. So, I have decided to aggressively tackle all of our debt and once that is paid off I plan to retire. (I know many question the wisdom of paying off a mortgage but I HATE debt and want that peace of mind.)
Our only debt is our mortgage. We bought our house in 05 and took out a 30 year mortgage at a 5.75 rate. We refinanced to a 30 year at a 4.75 rate. In March, we refinanced to a 15 year at 3.25% and our pay off amount is $299K. Our monthly mortgage is $3,100 but we will now be doubling that monthly amount as well as applying any bonuses to pay it down as quickly as possible. I think realistically we can pay it off in 4 years but I want to pay it off in 3.
On New Year's Day, I created a whole outline as to how we are going to cut costs and reach this goal. I hope we can stick to it and I look forward to sharing tips and advice with fellow frugal folks!
So my 2013 goal is to pay down all my debt so that I can retire by the time I reach the big 4-0. I am married with 2 kids, ages 7 & 5. I have been a lawyer for the past 12 years and really don't like it. Currently, I work p/t, 4 days a week. It's stressful for my husband and me as we juggle 2 kids and 2 careers. I want to be able to "retire" in 2015 when I reach 40 and take a year or two off. After that, I might look into a career change....an easy going part time job at a clothing store or florist or something...
We considered me becoming a SAHM now. But, I would feel guilty leaving all the bills to my husband. So, I have decided to aggressively tackle all of our debt and once that is paid off I plan to retire. (I know many question the wisdom of paying off a mortgage but I HATE debt and want that peace of mind.)
Our only debt is our mortgage. We bought our house in 05 and took out a 30 year mortgage at a 5.75 rate. We refinanced to a 30 year at a 4.75 rate. In March, we refinanced to a 15 year at 3.25% and our pay off amount is $299K. Our monthly mortgage is $3,100 but we will now be doubling that monthly amount as well as applying any bonuses to pay it down as quickly as possible. I think realistically we can pay it off in 4 years but I want to pay it off in 3.
On New Year's Day, I created a whole outline as to how we are going to cut costs and reach this goal. I hope we can stick to it and I look forward to sharing tips and advice with fellow frugal folks!