I used to think that having no debt was the ultimate goal in life.
I thought that once you got to that point, you could just relax and enjoy the rest of your life in peace. Little did I know that there was a whole new set of challenges to deal with once you reached that point. This is a lesson I learned the hard way when my wife decided to upgrade our house to a condo when we were debt free.
I had been working hard for years to pay off our debt. It was a relief to finally make that last payment and have no debt. We were finally free! We had some extra money in the bank and I was ready to just enjoy life. My wife, on the other hand, had other ideas.
She wanted to upgrade our HDB to a condo.
I was confused. Why would we want to upgrade when we were debt free?
My wife argued that the condo would be a better investment. She said that the condo would appreciate value over time and that it would be a better place to live. She also said that it would be more convenient since it would be closer to work and amenities. I could see her logic, but I still felt uneasy about it. I was scared to take on more debt, even if it was a good investment.
My wife was persistent and eventually, I gave in. We started looking for condos and found one that we liked. We ended up paying a mountain of cash for it.
Now that a few years have passed, I am still paying for it. Yes, The condo has appreciated in value but it has extended my retirement by several years.
Although one need to make money for a better life but life is so short, I don’t to sacrifice so much.
When your old you don’t have the same level of energy to play.
My advice to couples out there
I also understand why my wife wanted to upgrade when we were debt free. We had the money to do it and it was a good investment. Taking on more debt is always a risk
You want work till you die or spend money when your old AF