Something new

Well, perhaps not new, but I bought myself a new mortgage today. We finally completed the process of refinancing our home. Interest rates were low enough that I went from a 30 year to a 15 year mortgage and it's costing me $60 more a month, which I was putting on the principle anyway. So the bottom line is we cut about 9 years off of our loan and the house will be paid for by the time we're 60. And both boys will be out of college by then. Not too shabby. One of the few disappointments I'd had in moving out of our old house and into the new one was that we'd done a similar thing with the last place and it would have been paid off 4 years from now. But now I'll still be free and clear of my loan well before retiring. Assuming Ellen and I can afford to retire.


Jammie J. said…
That's great -- congrats on making a financially savvy move. Is it just me, or is it weird to be thinking about retirement? Like I look at what my mom is going through right now and I'm thinking that will be me in the not so distant future. Weird.
Jude said…
Sounds like you've made a good decision there Vince. Good luck, I hope the retirement happens easily for you when you're ready. I'm a year and a bit away from 60 (holy CRAP!) and I'm working on seeing if I can afford an early retirement around that age. It's NOT looking promising though.
sydwynd said…
Jammie: You can never start thinking about retirement too early. We're already telling the boys to get into a 401k as soon as they turn 21 if they're employed. Compounding, baby!

Jude: Ellen expects to work until we die. But she's a half empty kind of person.

Popular Posts