Andre1969
Thinks s/he gets paid by the post
When I first cracked the $2M barrier back in early 2020, I briefly flirted with the idea of retiring. And if I was still around that threshold by my 50th birthday, which was April that year, I have a feeling I would have done it. Or, at least posted my financial situation on here and have you guys give me a reality check one way or another.
I had (and still have) a mortgage, and the payment was around $2800-2900/mo, but it didn't seem like that big of a deal. I had just taken out a $472K refinance, at 3.875%, the year before, so I would've been stuck with it for awhile.
Well, suddenly Covid hit, and my portfolio was down by about 35% in roughly one month. By the time my birthday rolled around, I was "only" down about 25%
Adjusting for inflation though, that $2M would be close to $2.4M today. But I swear things are a lot more expensive these days than those official inflation numbers suggest. I refinanced again in the summer of 2020, to 2.875%, and that cut the mortgage to around $2460/mo. But with the way property tax/insurance went up, the payment is now around $2760.
I have a feeling I probably could have retired back then, and I'd be okay now. But, I'm kinda glad I didn't. I had a 36x60 pole barn garage with a loft built, and then just last year bought a 2023 Charger R/T, and didn't sweat either one too much. If I had been retired, I still would have done the garage. But I dunno about the Charger. I have a feeling I might still be nursing my old 2003 Regal along and praying that I can get it to fake out the emissions test one last time.
I had (and still have) a mortgage, and the payment was around $2800-2900/mo, but it didn't seem like that big of a deal. I had just taken out a $472K refinance, at 3.875%, the year before, so I would've been stuck with it for awhile.
Well, suddenly Covid hit, and my portfolio was down by about 35% in roughly one month. By the time my birthday rolled around, I was "only" down about 25%
Adjusting for inflation though, that $2M would be close to $2.4M today. But I swear things are a lot more expensive these days than those official inflation numbers suggest. I refinanced again in the summer of 2020, to 2.875%, and that cut the mortgage to around $2460/mo. But with the way property tax/insurance went up, the payment is now around $2760.
I have a feeling I probably could have retired back then, and I'd be okay now. But, I'm kinda glad I didn't. I had a 36x60 pole barn garage with a loft built, and then just last year bought a 2023 Charger R/T, and didn't sweat either one too much. If I had been retired, I still would have done the garage. But I dunno about the Charger. I have a feeling I might still be nursing my old 2003 Regal along and praying that I can get it to fake out the emissions test one last time.