Music Lover
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I've told this story before. A friend built a house about 12-13 years ago and everything cost more than he thought. When it was done he had a 30-year mortgage at age 48 that was so high that he had to occasionally dip into savings just to meet monthly payments. He was losing sleep and as he approached retirement age (55 govt) he realized that he could not retire and still make the mortgage payments.
He sold the house for a bit of a profit and moved to an apartment. You think that he'd be happy to be debt free but that lasted 6 months. He then left work early taking both an age and time of service penalty and ended up with 80% of a 60% pension. But wait, there's more. He sold a paid off 8-year old Toyota Rav with 130,000 kms on it (80k miles) where they had just replaced the engine for free under warranty and replaced it with a Jaguar SUV under lease that would have costed about $80k after the down payment, lease payments, and residual value were done.
And he wasn't done yet...he took the Jaguar in for service a year later and upgraded to a more expensive model that was about $30k more.
He sold the house for a bit of a profit and moved to an apartment. You think that he'd be happy to be debt free but that lasted 6 months. He then left work early taking both an age and time of service penalty and ended up with 80% of a 60% pension. But wait, there's more. He sold a paid off 8-year old Toyota Rav with 130,000 kms on it (80k miles) where they had just replaced the engine for free under warranty and replaced it with a Jaguar SUV under lease that would have costed about $80k after the down payment, lease payments, and residual value were done.
And he wasn't done yet...he took the Jaguar in for service a year later and upgraded to a more expensive model that was about $30k more.