Quote:
Originally Posted by BIC_BAWS
Once you get that debt (mortgage) it's over. Everything goes into it. I'm glad I did car stuff first and still try to make car stuff work even with a mortgage. I was supposed to do 0 track days this year, yet I'm about to do my 3rd in August. I do however buy a lot of used tires and brake pads/rotors. Mostly because there's still a lot of usable life in them that most people don't expect.
It's depressing tho - having a mortgage. I just renewed. Went from a 25 year term less 3, back to a 30 year term. The fact that I'm gonna be paying this house off until I'm roughly 56 is depressing as hell. I'm 26 next month and I now know first hand what it's like to be house poor because I have zero savings. Some people spend what little savings they have on dating or vacations, the car / track life is the one thing that helps me keep going.
Of course the smart thing to do would be to sell my car and buy a shitbox. But the shitboxes cost 70% as much and quality of life is so much worse. The smart thing to do, like you say, is to save in my 20s. Props to the people doing or had done the financially responsible things cause it's hard to always choose responsibility over happiness.
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I think it's important to consider things holistically!
You're driving a CTR and I presume every day that puts a smile on your face. You have track days to look forward to and keeps you going as you say. Then you leverage this state of contentment and passion to get yourself a promotion at work, then another, then another. You marry the woman of your dreams (if you haven't already), who is equally content and driven in life as you, and contributes as much if not more than you to the finances, now together you burn down your mortgage at quadruple pace, you start making extra payments. You say fuck it, you buy another house, a bigger house. You're laughing: you're 40 and you're debt-free. Then you retire a couple years later with passive income and millions in savings.
Now compare this to some schmuck who gave up on life, drives his soulless gutless grey shitbox to his entry level desk job to grind out the rest of his days. He saves every last penny but all he makes is pennies and that doesn't add up to much. Life feels tasteless. Nobody wants to be around this sad dude, and that makes him more sad. His depression shows up at work: he only puts in as much effort as it takes not to get fired, doesn't hustle doesn't grow doesn't take any initiative, so now he's never up for promotion. Can't get ahead. Dies alone. Oh but, he paid off his mortgage by age 60 instead of 65. At least he had that going for him.
You're 26: your career is just getting started. Your mortgage stays the same, but your income doesn't, and neither does your marital status. It gets better
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