Well hello there!
My name is Tracy and I am a 55 yr old RN who has been following Dave Ramsey, Mr. Money Mustache, Mr. 1500, Root of Good, Accidental Fire, Millennial Revolution, my boyfriend (who has been debt free, including his mortgage since he was 45) and others to try to become debt free (including my mortgage) and retire by 60. I know that 60 is not really “early” retirement but I am one of those baby boomers who blew money on stupid things and divorces (yes, more than 1), so being able to retire by 60 is an amazing event in my eyes.
My parents (dad wasn’t always around) never owned a home and we were constantly moving from rental to rental, so I am obsessed with having a roof over my head for the rest of my life and having it paid off. I know a lot of Millennials don’t want to own a house, but think about it, rent is sky high in California and who wants to pay more than $1500 per month for rent when you’re in your 60s, 70s, or 80s? I would rather pay a few hundred dollars per month (approx $200 for me) in property taxes when I am that age than use all of my retirement just to keep that roof over my head. (I will tell Californian’s how to keep low property taxes when they downsize in a future post).
I have screwed up royally when it comes to money, and I am hoping if I tell you my mistakes and give you some tips, maybe you will have an easier time becoming a senior than I have and maybe you can retire a lot earlier than I will.
Here’s to reading on!!!