My first car was cash ($100 so you know it was good!) but the second was
by way of a loan, back in '63, paid off in 2 years. Everything since then, cash.
If I didn't have the $ I didn't buy until I did. The only loans I have are for
houses but the interest is low (4.875% for HI house and 5.67% for TX house).
I will pay the TX house off first, then HI house to follow. Not much owed on
either. I did manage to make some investments in natural gas which are
doing well now and are paying off the houses. I use credit cards for travel
and large purchases (building points for travel to Texas home) but pay them
off each month - no interest charges. For the travel the cards help when and
if someone tries to rip you off. Not frequent but I am batting 1,000 on claims.
The key is saving a significant portion, as others have said, starting as early
as possible, but better late than never. I haven't "retired" yet, I own the
business, but have set it up so I can take more time off as time goes on.
I enjoy my work, but with grandchildren arriving I find my priorities starting
to shift - how can that be?
Yep Joe - you are on the right track, just don't get derailed - but I think the
Cobra will keep you on course!
