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Hello SA World

May 17th, 2019 at 09:42 am

Hello All,

I've been a long-time lurker and reader of the blogs, and decided to go into it myself. I want to blog and document what I do as a way of holding myself accountable.

I want to retire "early-ish" at around 55-59-ish. Unfortunately, I started this journey at 39 years of age. I'm turning 40 in a few months' time. So, I know I have some hard work ahead of me.

I am a healthcare professional. I work full time and am self-employed part-time. The plan is to transition full time into self-employment over the next year so that I can have a better quality of time/time/leisure for about the same amount of money. I'm in a single person household and only have one income. No kids or pets.

I had a lot of consumer debt ($57,797.94) and spent the last 12 years paying it off in a very inefficient manner. I now only have $9,600 in consumer debt on a zero-interest card that I plan to pay off by the end of the year.

I just purchased my first house. Terrible market to buy where I am right now. But, I am delighted to finally have a house. Put 5% down. Made my first mortgage payment last month. 30-year mortgage. But, mortgages are evil. So, I hope to have the house paid in 8-9 years if I can - if nothing horrible happens that derails my plans.

Now, off to figure out some blog formatting things.

6 Responses to “Hello SA World”

  1. Petunia 100 Says:

    Welcome! I am looking forward to reading more as your journey progresses. Best of luck to you with your goals.

  2. Single guy Says:

    It can be done. I started at zero net worth @ 36 & started by buying my house, Was unemployed for 18 months @40, divorced @ 46. Now employed last 15.5 years & have approx. $1 Mil in investments, paid off house & pension coming down the pipe. And I am 57. I could retire now but I want the pension starting when I am 60 so I am sticking around until then. Takes determination but it can happen.

  3. CB in the City Says:

    Welcome and best of luck on your financial journey!

  4. Fire and I Says:

    Thanks all. I know this is a supportive community, and appreciate the welcome. @Single guy - that's so inspiring. Thanks so much for the motivation boost.

  5. kaysmom Says:

    Yes, it can be done but you need to have a well developed plan. At 45, DH and I had a mortgage and some money in IRAs. We decided we wanted to retire when I was 58. We were able to refinance our mortgage to a lower rate and calculated what amount we'd need to pay monthly to pay it off by our retirement date. We used retirement calculators to determine how much we needed to save for retirement. We adjusted our budget to contribute more to retirement. I changed jobs a few times within the same industry to increase my pay. Most of our bonuses, raises, gifts, tax refunds, windfalls, etc. went into IRAs, 401ks, or regular savings accounts until we reached our goal. We were able to find jobs with pensions and great benefits. I'm not sure we would have had enough income to reach our goal without retiree health insurance that covered us up to Medicare.

  6. LuckyRobin Says:

    Welcome. It's always nice to have someone join in on the blogging train.

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