Pay Everything Off
photo by Casey Serin
Pay Everything Off
Start With a Clean Slate
Starting a new life as a retired person is a more rewarding event if all your debts are paid off. You can accomplish this in many ways.
Sold His House
A co-worker of mine sold his house and used the profits from the sale to satisfy all his debts. This included paying off his car balance, all credit cards and a credit union loan he took out four years ago to help his daughter with tuition costs for going to college.
Purchased a Fixer Upper
At this point he had a positive cash balance of forty thousand dollars, when he invested in an old house he planned on repairing and the reselling for a nice profit.
Rented a Studio Apt.
Then he found a rental facility in the town where his daughter was going to school. It was a studio apartment that only cost him a modest rent which include all utilities.
Found a Companion
The last time I say him at a social event he said things couldn’t be better. He was living the life of a retired person with two pensions and social security. He said he’s met a nice lady and they shared time together and each wished to remain in there own dwellings. He and I smiled and parted shaking hands. Boy did he have this retirement stuff figured out.
Moved into Government Housing
Mary a former neighbor has retired and moved into a senior facility, which is being sponsored by the government thru HUD. She pays thirty percent of her income for rent and receives help paying her utility bills. She occupies a duplex with one bedroom, which has a walkout patio area. The complex is new and nicely taken care of. It is also located in a small town with no crime problems. She too is doing well in her retirement. She also said she paid off all her debts and has a small nest egg for future plans to travel around the United States. Sounds like a good well thought out plan.
Time to Be Happy
Retirement is a time to do all those things you wanted to do when you had to work. Now with good planning and no debt things like this are very much in the realm of coming true.
Paying off your debts is a great way to start your second life. That’s how I feel and I’m sticking to it.
Comments - Click Here
Posted by Don L. Terrill at 8:42 AM