Homeownership- A case study

Today I am happy to feature a guest post from a family member. We have no financial relationships except that we buy each other beers when we are together. I recently discussed the real cost of homeownership since buying my million dollar plus home. It’s not pretty. The point of the article was that a lot of money goes to things other than principal and interest. Thus, when buying a home consideration should be given for the true cost of maintenance.

In talking to the author of this post, he agreed. He lived in Longmont, CO (the home of the famous Mr. Money Mustache), which by all costs has a reasonable  cost of living. He lived in the same home for 14 years and recently sold it as the Longmont market has become more “hot”. Him and his family have since moved to Seattle where they will not be purchasing a home partly due to being empty nesters now and also the crazy housing market there.

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One house, one spouse, one job

I recently posted a graph of my net worth (see bel0w) since I started tracking it in 2014 on twitter. Despite becoming an attending in 2012, I did not track my net worth early on. As you can see, it has been a slow and steady climb to a positive net worth. I posted this and the White Coat Investor stated this is a good case to discuss one house, one spouse, one job. A mantra for stability and progress.

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DDD Drawdown plan part 2- Retire at 48?

This is my second post as part of the chain about drawdown plan. This is a post started by Physician On Fire and taken and catapulted by Fritz at The Retirement Manifesto. There are now 13 people on the chain, and I will make lucky number 14.

My first post found here discussed retiring with a pension. This would require me to work until I am 60, which kind of sounds lame. So now it is off to discussing how I could retire by 48.

If you did not read my post found here, let me give you a quick recap. I am fortunate to work for a company that offers a pretty sweet pension. If I work until 60, then I get full early retirement, but what if I want to retire early.

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DDD Drawdown plan part 1- Living with a pension

I am joining the chain with my draw down strategy. This is a post started by Physician On Fire and taken and catapulted by Fritz at The Retirement Manifesto. There are now 13 people on the chain, and I will make lucky number 14. 

Mine is unlike the others, and here is why. I have a job with a sweet pension. I mean a really sweet pension. The golden handcuffs as my colleagues joke. If I work at least 60% of the time until I am 60 years old (23 years from now) then I get free healthcare for life and a nice monthly pension check.  What does this do to me?

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