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When I got out of college, my plan was to buy a home as soon as possible and have it paid off by age 52. But I had a career misstep and also didn't want to live in St. Louis forever, so that plan got derailed. At age 31 I bought a condo, which was a great first step, and then a year later we bought our house.
So I was 32 when we bought the house and the plan became payoff at 62. But interest rates were coming down and we refinanced 2 or 3 times and eventually ended up with a 15 year loan. We decided that we would put any bonus money toward the home loan and I'm proud to say that we paid off the house when I was 48 or so, ahead of my original plan.
I realize that I could leverage our home equity for other investments, but I'm too conservative. I want to own my house with zero risk.
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Active fan of the greatest team in NFL history.
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