Mortgage FREE by 2023

Ready, set... where to?

This month I started my FAST AND FURIOUS mortgage pay down, on my primary residence.

Based on the theory that I’m following, my home is my liability. It’s taking money out of my pocket every month. Mortgage payment is a huge portion of my monthly expenses.

What I learned a while ago, yet am just now starting to realize for myself – is that you don’t have to pay mortgage for the next 25-30 years. You can be mortgage FREE much faster and often with minimal additional hassle.

I have $339,089 left on my mortgage and 23 years to go. I'll be mortgage free by 2041. The year I turn 60. Long way to go. This is my Status Quo.

Luckily, I have a plan B, my new FAST AND FURIOUS mortgage pay down plan.

So, let the adventure begin.

1. I transferred $14,063 payment from my line of credit towards the principal
2. I thought "Wow, that was easy!"
3. I checked: My outstanding amount has dropped to $325,026 and only 21 years more to go.

By the way, here's an Excel tool that I now use to do all my numbers when it comes to planning accelerated mortgage pay down and tracking my results. It simplifies the process a lot!

It works! It's this simple!

Now, over the next few days, I'll redirect all my day-to-day incoming and outgoing payments to the credit line account. This will ensure that the 14K I've borrowed will get paid down as fast as possible from miscellaneous left-overs. Line of credit balance over a short time will cost me a reasonable amount of interest, especially if you compare to the amount of interest I'd have to pay, if I stayed with the traditional pay down schedule.

To see the full impact of accelerating mortgage pay off - scroll down. This is the maximum acceleration I can get. It will likely require me to be frugal and creative.

It's my own choice to go at the fastest speed. Everyone's situation is different, and you can choose the speed that you feel the most happy about. If you need help or have a question, let me know.

There are ways to be mortgage free fast, without putting yourself under a lot of pressure. Someone just needs to show you the way.

You need to work with a great partner. Ask me about it in the comments if interested and would like a referral.

Below is my status quo and my new plan. I'm curious to find out - What your plan is? 

MY STATUS QUO

Please scroll down to the bottom of the table. I have a point....

Let's see where I'll be in 2041

Age	Period	Payment Date	Principal	Interest	Total Interest	Balance
37	1	05-Oct-18	$388	$407	$407	$338,700.91
37	2	19-Oct-18	$389	$406	$813	$338,312.36
37	3	02-Nov-18	$389	$406	$1,219	$337,923.34
37	4	16-Nov-18	$389	$405	$1,624	$337,533.86
37	5	30-Nov-18	$390	$405	$2,029	$337,143.91
37	6	14-Dec-18	$390	$404	$2,433	$336,753.49
37	7	28-Dec-18	$391	$404	$2,837	$336,362.60
38	8	11-Jan-19	$391	$403	$3,241	$335,971.24
38	9	25-Jan-19	$392	$403	$3,644	$335,579.41
38	10	08-Feb-19	$392	$403	$4,046	$335,187.11
38	11	22-Feb-19	$393	$402	$4,448	$334,794.34
38	12	08-Mar-19	$393	$402	$4,850	$334,401.10
38	13	22-Mar-19	$394	$401	$5,251	$334,007.39
38	14	05-Apr-19	$394	$401	$5,652	$333,613.21
38	15	19-Apr-19	$395	$400	$6,052	$333,218.56
38	16	03-May-19	$395	$400	$6,452	$332,823.43
38	17	17-May-19	$396	$399	$6,851	$332,427.83
38	18	31-May-19	$396	$399	$7,250	$332,031.75
38	19	14-Jun-19	$397	$398	$7,648	$331,635.20
38	20	28-Jun-19	$397	$398	$8,046	$331,238.17
38	21	12-Jul-19	$398	$397	$8,443	$330,840.67
38	22	26-Jul-19	$398	$397	$8,840	$330,442.69
38	23	09-Aug-19	$398	$396	$9,236	$330,044.23
38	24	23-Aug-19	$399	$396	$9,632	$329,645.30
38	25	06-Sep-19	$399	$395	$10,028	$329,245.89
38	26	20-Sep-19	$400	$395	$10,423	$328,846.00
38	27	04-Oct-19	$400	$394	$10,817	$328,445.63
38	28	18-Oct-19	$401	$394	$11,211	$328,044.78
38	29	01-Nov-19	$401	$394	$11,605	$327,643.45
38	30	15-Nov-19	$402	$393	$11,998	$327,241.64
38	31	29-Nov-19	$402	$393	$12,390	$326,839.34
38	32	13-Dec-19	$403	$392	$12,782	$326,436.56
38	33	27-Dec-19	$403	$392	$13,174	$326,033.30
39	34	10-Jan-20	$404	$391	$13,565	$325,629.55
39	35	24-Jan-20	$404	$391	$13,955	$325,225.32
39	36	07-Feb-20	$405	$390	$14,345	$324,820.60
39	37	21-Feb-20	$405	$390	$14,735	$324,415.40
39	38	06-Mar-20	$406	$389	$15,124	$324,009.71
39	39	20-Mar-20	$406	$389	$15,513	$323,603.54
39	40	03-Apr-20	$407	$388	$15,901	$323,196.88
39	41	17-Apr-20	$407	$388	$16,289	$322,789.73
39	42	01-May-20	$408	$387	$16,676	$322,382.09
39	43	15-May-20	$408	$387	$17,063	$321,973.96
39	44	29-May-20	$409	$386	$17,449	$321,565.34
39	45	12-Jun-20	$409	$386	$17,835	$321,156.23
39	46	26-Jun-20	$410	$385	$18,220	$320,746.63
39	47	10-Jul-20	$410	$385	$18,605	$320,336.54
39	48	24-Jul-20	$411	$384	$18,989	$319,925.96
39	49	07-Aug-20	$411	$384	$19,373	$319,514.89
39	50	21-Aug-20	$412	$383	$19,756	$319,103.33
39	51	04-Sep-20	$412	$383	$20,139	$318,691.27
39	52	18-Sep-20	$413	$382	$20,521	$318,278.72
39	53	02-Oct-20	$413	$382	$20,903	$317,865.67
39	54	16-Oct-20	$414	$381	$21,284	$317,452.13
39	55	30-Oct-20	$414	$381	$21,665	$317,038.09
39	56	13-Nov-20	$415	$380	$22,045	$316,623.55
39	57	27-Nov-20	$415	$380	$22,425	$316,208.52
39	58	11-Dec-20	$416	$379	$22,804	$315,792.99
39	59	25-Dec-20	$416	$379	$23,183	$315,376.96
40	60	08-Jan-21	$417	$378	$23,561	$314,960.43
40	61	22-Jan-21	$417	$378	$23,939	$314,543.40
40	62	05-Feb-21	$418	$377	$24,316	$314,125.87
40	63	19-Feb-21	$418	$377	$24,693	$313,707.84
40	64	05-Mar-21	$419	$376	$25,069	$313,289.31
40	65	19-Mar-21	$419	$376	$25,445	$312,870.28
40	66	02-Apr-21	$420	$375	$25,821	$312,450.74
40	67	16-Apr-21	$420	$375	$26,195	$312,030.70
40	68	30-Apr-21	$421	$374	$26,570	$311,610.16
40	69	14-May-21	$421	$374	$26,943	$311,189.11
40	70	28-May-21	$422	$373	$27,317	$310,767.56
40	71	11-Jun-21	$422	$373	$27,689	$310,345.50
40	72	25-Jun-21	$423	$372	$28,062	$309,922.94
40	73	09-Jul-21	$423	$372	$28,433	$309,499.87
40	74	23-Jul-21	$424	$371	$28,805	$309,076.29
40	75	06-Aug-21	$424	$371	$29,175	$308,652.20
40	76	20-Aug-21	$425	$370	$29,546	$308,227.61
40	77	03-Sep-21	$425	$370	$29,915	$307,802.51
40	78	17-Sep-21	$426	$369	$30,285	$307,376.90
40	79	01-Oct-21	$426	$369	$30,653	$306,950.78
40	80	15-Oct-21	$427	$368	$31,022	$306,524.14
40	81	29-Oct-21	$427	$368	$31,389	$306,096.99
40	82	12-Nov-21	$428	$367	$31,756	$305,669.33
40	83	26-Nov-21	$428	$367	$32,123	$305,241.16
40	84	10-Dec-21	$429	$366	$32,489	$304,812.47
40	85	24-Dec-21	$429	$366	$32,855	$304,383.27
41	86	07-Jan-22	$430	$365	$33,220	$303,953.55
41	87	21-Jan-22	$430	$365	$33,585	$303,523.32
41	88	04-Feb-22	$431	$364	$33,949	$303,092.57
41	89	18-Feb-22	$431	$364	$34,312	$302,661.31
41	90	04-Mar-22	$432	$363	$34,675	$302,229.53
41	91	18-Mar-22	$432	$363	$35,038	$301,797.23
41	92	01-Apr-22	$433	$362	$35,400	$301,364.41
41	93	15-Apr-22	$433	$361	$35,761	$300,931.07
41	94	29-Apr-22	$434	$361	$36,122	$300,497.21
41	95	13-May-22	$434	$360	$36,483	$300,062.83
41	96	27-May-22	$435	$360	$36,843	$299,627.93
41	97	10-Jun-22	$435	$359	$37,202	$299,192.51
41	98	24-Jun-22	$436	$359	$37,561	$298,756.57
41	99	08-Jul-22	$436	$358	$37,919	$298,320.11
41	100	22-Jul-22	$437	$358	$38,277	$297,883.12
41	101	05-Aug-22	$438	$357	$38,634	$297,445.61
41	102	19-Aug-22	$438	$357	$38,991	$297,007.57
41	103	02-Sep-22	$439	$356	$39,348	$296,569.01
41	104	16-Sep-22	$439	$356	$39,703	$296,129.92
41	105	30-Sep-22	$440	$355	$40,058	$295,690.30
41	106	14-Oct-22	$440	$355	$40,413	$295,250.16
41	107	28-Oct-22	$441	$354	$40,767	$294,809.49
41	108	11-Nov-22	$441	$354	$41,121	$294,368.29
41	109	25-Nov-22	$442	$353	$41,474	$293,926.56
41	110	09-Dec-22	$442	$353	$41,827	$293,484.30
41	111	23-Dec-22	$443	$352	$42,179	$293,041.51
42	112	06-Jan-23	$443	$352	$42,530	$292,598.19
42	113	20-Jan-23	$444	$351	$42,881	$292,154.34
42	114	03-Feb-23	$444	$350	$43,232	$291,709.96
42	115	17-Feb-23	$445	$350	$43,581	$291,265.04
42	116	03-Mar-23	$445	$349	$43,931	$290,819.59
42	117	17-Mar-23	$446	$349	$44,280	$290,373.60
42	118	31-Mar-23	$447	$348	$44,628	$289,927.08
42	119	14-Apr-23	$447	$348	$44,976	$289,480.02
42	120	28-Apr-23	$448	$347	$45,323	$289,032.43
42	121	12-May-23	$448	$347	$45,670	$288,584.30
42	122	26-May-23	$449	$346	$46,016	$288,135.63
42	123	09-Jun-23	$449	$346	$46,362	$287,686.43
42	124	23-Jun-23	$450	$345	$46,707	$287,236.69
42	125	07-Jul-23	$450	$345	$47,051	$286,786.41
42	126	21-Jul-23	$451	$344	$47,395	$286,335.59
42	127	04-Aug-23	$451	$343	$47,739	$285,884.23
42	128	18-Aug-23	$452	$343	$48,082	$285,432.32
42	129	01-Sep-23	$452	$342	$48,424	$284,979.87
42	130	15-Sep-23	$453	$342	$48,766	$284,526.88
42	131	29-Sep-23	$454	$341	$49,107	$284,073.35
42	132	13-Oct-23	$454	$341	$49,448	$283,619.27
42	133	27-Oct-23	$455	$340	$49,788	$283,164.65
42	134	10-Nov-23	$455	$340	$50,128	$282,709.48
42	135	24-Nov-23	$456	$339	$50,467	$282,253.77
42	136	08-Dec-23	$456	$339	$50,805	$281,797.51
42	137	22-Dec-23	$457	$338	$51,143	$281,340.70
43	138	05-Jan-24	$457	$337	$51,481	$280,883.34
43	139	19-Jan-24	$458	$337	$51,818	$280,425.44
43	140	02-Feb-24	$458	$336	$52,154	$279,966.99
43	141	16-Feb-24	$459	$336	$52,490	$279,507.99
43	142	01-Mar-24	$460	$335	$52,825	$279,048.44
43	143	15-Mar-24	$460	$335	$53,160	$278,588.33
43	144	29-Mar-24	$461	$334	$53,494	$278,127.67
43	145	12-Apr-24	$461	$334	$53,828	$277,666.46
43	146	26-Apr-24	$462	$333	$54,161	$277,204.70
43	147	10-May-24	$462	$333	$54,493	$276,742.38
43	148	24-May-24	$463	$332	$54,825	$276,279.51
43	149	07-Jun-24	$463	$331	$55,157	$275,816.08
43	150	21-Jun-24	$464	$331	$55,488	$275,352.10
43	151	05-Jul-24	$465	$330	$55,818	$274,887.56
43	152	19-Jul-24	$465	$330	$56,148	$274,422.46
43	153	02-Aug-24	$466	$329	$56,477	$273,956.81
43	154	16-Aug-24	$466	$329	$56,805	$273,490.60
43	155	30-Aug-24	$467	$328	$57,133	$273,023.83
43	156	13-Sep-24	$467	$328	$57,461	$272,556.50
43	157	27-Sep-24	$468	$327	$57,788	$272,088.61
43	158	11-Oct-24	$468	$326	$58,114	$271,620.16
43	159	25-Oct-24	$469	$326	$58,440	$271,151.14
43	160	08-Nov-24	$470	$325	$58,765	$270,681.56
43	161	22-Nov-24	$470	$325	$59,090	$270,211.42
43	162	06-Dec-24	$471	$324	$59,414	$269,740.71
43	163	20-Dec-24	$471	$324	$59,738	$269,269.44
44	164	03-Jan-25	$472	$323	$60,061	$268,797.60
44	165	17-Jan-25	$472	$322	$60,383	$268,325.20
44	166	31-Jan-25	$473	$322	$60,705	$267,852.23
44	167	14-Feb-25	$474	$321	$61,026	$267,378.69
44	168	28-Feb-25	$474	$321	$61,347	$266,904.59
44	169	14-Mar-25	$475	$320	$61,667	$266,429.92
44	170	28-Mar-25	$475	$320	$61,987	$265,954.68
44	171	11-Apr-25	$476	$319	$62,306	$265,478.87
44	172	25-Apr-25	$476	$318	$62,624	$265,002.49
44	173	09-May-25	$477	$318	$62,942	$264,525.54
44	174	23-May-25	$478	$317	$63,259	$264,048.01
44	175	06-Jun-25	$478	$317	$63,576	$263,569.91
44	176	20-Jun-25	$479	$316	$63,892	$263,091.24
44	177	04-Jul-25	$479	$316	$64,208	$262,611.99
44	178	18-Jul-25	$480	$315	$64,523	$262,132.17
44	179	01-Aug-25	$480	$314	$64,837	$261,651.77
44	180	15-Aug-25	$481	$314	$65,151	$261,170.80
44	181	29-Aug-25	$482	$313	$65,464	$260,689.25
44	182	12-Sep-25	$482	$313	$65,777	$260,207.12
44	183	26-Sep-25	$483	$312	$66,089	$259,724.41
44	184	10-Oct-25	$483	$312	$66,401	$259,241.13
44	185	24-Oct-25	$484	$311	$66,712	$258,757.27
44	186	07-Nov-25	$484	$310	$67,022	$258,272.83
44	187	21-Nov-25	$485	$310	$67,332	$257,787.80
44	188	05-Dec-25	$486	$309	$67,641	$257,302.19
44	189	19-Dec-25	$486	$309	$67,950	$256,816.00
45	190	02-Jan-26	$487	$308	$68,258	$256,329.23
45	191	16-Jan-26	$487	$307	$68,565	$255,841.87
45	192	30-Jan-26	$488	$307	$68,872	$255,353.93
45	193	13-Feb-26	$489	$306	$69,179	$254,865.40
45	194	27-Feb-26	$489	$306	$69,484	$254,376.29
45	195	13-Mar-26	$490	$305	$69,789	$253,886.59
45	196	27-Mar-26	$490	$305	$70,094	$253,396.30
45	197	10-Apr-26	$491	$304	$70,398	$252,905.42
45	198	24-Apr-26	$491	$303	$70,701	$252,413.96
45	199	08-May-26	$492	$303	$71,004	$251,921.91
45	200	22-May-26	$493	$302	$71,306	$251,429.27
45	201	05-Jun-26	$493	$302	$71,608	$250,936.03
45	202	19-Jun-26	$494	$301	$71,909	$250,442.20
45	203	03-Jul-26	$494	$300	$72,209	$249,947.78
45	204	17-Jul-26	$495	$300	$72,509	$249,452.77
45	205	31-Jul-26	$496	$299	$72,808	$248,957.16
45	206	14-Aug-26	$496	$299	$73,107	$248,460.96
45	207	28-Aug-26	$497	$298	$73,405	$247,964.16
45	208	11-Sep-26	$497	$297	$73,702	$247,466.77
45	209	25-Sep-26	$498	$297	$73,999	$246,968.78
45	210	09-Oct-26	$499	$296	$74,295	$246,470.19
45	211	23-Oct-26	$499	$296	$74,591	$245,971.01
45	212	06-Nov-26	$500	$295	$74,886	$245,471.23
45	213	20-Nov-26	$500	$294	$75,181	$244,970.85
45	214	04-Dec-26	$501	$294	$75,474	$244,469.87
45	215	18-Dec-26	$502	$293	$75,768	$243,968.29
46	216	01-Jan-27	$502	$293	$76,060	$243,466.11
46	217	15-Jan-27	$503	$292	$76,352	$242,963.32
46	218	29-Jan-27	$503	$291	$76,644	$242,459.93
46	219	12-Feb-27	$504	$291	$76,935	$241,955.94
46	220	26-Feb-27	$505	$290	$77,225	$241,451.34
46	221	12-Mar-27	$505	$290	$77,515	$240,946.14
46	222	26-Mar-27	$506	$289	$77,804	$240,440.33
46	223	09-Apr-27	$506	$288	$78,092	$239,933.91
46	224	23-Apr-27	$507	$288	$78,380	$239,426.89
46	225	07-May-27	$508	$287	$78,667	$238,919.26
46	226	21-May-27	$508	$287	$78,954	$238,411.02
46	227	04-Jun-27	$509	$286	$79,240	$237,902.17
46	228	18-Jun-27	$509	$285	$79,525	$237,392.71
46	229	02-Jul-27	$510	$285	$79,810	$236,882.64
46	230	16-Jul-27	$511	$284	$80,094	$236,371.96
46	231	30-Jul-27	$511	$284	$80,377	$235,860.66
46	232	13-Aug-27	$512	$283	$80,660	$235,348.75
46	233	27-Aug-27	$513	$282	$80,943	$234,836.23
46	234	10-Sep-27	$513	$282	$81,224	$234,323.09
46	235	24-Sep-27	$514	$281	$81,505	$233,809.34
46	236	08-Oct-27	$514	$280	$81,786	$233,294.97
46	237	22-Oct-27	$515	$280	$82,066	$232,779.98
46	238	05-Nov-27	$516	$279	$82,345	$232,264.37
46	239	19-Nov-27	$516	$279	$82,624	$231,748.15
46	240	03-Dec-27	$517	$278	$82,902	$231,231.31
46	241	17-Dec-27	$517	$277	$83,179	$230,713.85
46	242	31-Dec-27	$518	$277	$83,456	$230,195.77
47	243	14-Jan-28	$519	$276	$83,732	$229,677.06
47	244	28-Jan-28	$519	$276	$84,007	$229,157.73
47	245	11-Feb-28	$520	$275	$84,282	$228,637.78
47	246	25-Feb-28	$521	$274	$84,556	$228,117.21
47	247	10-Mar-28	$521	$274	$84,830	$227,596.01
47	248	24-Mar-28	$522	$273	$85,103	$227,074.19
47	249	07-Apr-28	$522	$272	$85,375	$226,551.74
47	250	21-Apr-28	$523	$272	$85,647	$226,028.66
47	251	05-May-28	$524	$271	$85,918	$225,504.96
47	252	19-May-28	$524	$271	$86,189	$224,980.63
47	253	02-Jun-28	$525	$270	$86,459	$224,455.67
47	254	16-Jun-28	$526	$269	$86,728	$223,930.08
47	255	30-Jun-28	$526	$269	$86,997	$223,403.86
47	256	14-Jul-28	$527	$268	$87,264	$222,877.01
47	257	28-Jul-28	$527	$267	$87,532	$222,349.53
47	258	11-Aug-28	$528	$267	$87,799	$221,821.41
47	259	25-Aug-28	$529	$266	$88,065	$221,292.66
47	260	08-Sep-28	$529	$265	$88,330	$220,763.28
47	261	22-Sep-28	$530	$265	$88,595	$220,233.26
47	262	06-Oct-28	$531	$264	$88,859	$219,702.60
47	263	20-Oct-28	$531	$264	$89,123	$219,171.31
47	264	03-Nov-28	$532	$263	$89,386	$218,639.38
47	265	17-Nov-28	$533	$262	$89,648	$218,106.81
47	266	01-Dec-28	$533	$262	$89,909	$217,573.60
47	267	15-Dec-28	$534	$261	$90,170	$217,039.75
47	268	29-Dec-28	$534	$260	$90,431	$216,505.26
48	269	12-Jan-29	$535	$260	$90,690	$215,970.13
48	270	26-Jan-29	$536	$259	$90,949	$215,434.36
48	271	09-Feb-29	$536	$258	$91,208	$214,897.95
48	272	23-Feb-29	$537	$258	$91,466	$214,360.89
48	273	09-Mar-29	$538	$257	$91,723	$213,823.19
48	274	23-Mar-29	$538	$256	$91,979	$213,284.85
48	275	06-Apr-29	$539	$256	$92,235	$212,745.86
48	276	20-Apr-29	$540	$255	$92,490	$212,206.22
48	277	04-May-29	$540	$255	$92,745	$211,665.94
48	278	18-May-29	$541	$254	$92,999	$211,125.01
48	279	01-Jun-29	$542	$253	$93,252	$210,583.43
48	280	15-Jun-29	$542	$253	$93,505	$210,041.20
48	281	29-Jun-29	$543	$252	$93,757	$209,498.32
48	282	13-Jul-29	$544	$251	$94,008	$208,954.79
48	283	27-Jul-29	$544	$251	$94,259	$208,410.61
48	284	10-Aug-29	$545	$250	$94,508	$207,865.77
48	285	24-Aug-29	$545	$249	$94,758	$207,320.28
48	286	07-Sep-29	$546	$249	$95,007	$206,774.14
48	287	21-Sep-29	$547	$248	$95,255	$206,227.34
48	288	05-Oct-29	$547	$247	$95,502	$205,679.88
48	289	19-Oct-29	$548	$247	$95,749	$205,131.77
48	290	02-Nov-29	$549	$246	$95,995	$204,583.00
48	291	16-Nov-29	$549	$245	$96,240	$204,033.57
48	292	30-Nov-29	$550	$245	$96,485	$203,483.48
48	293	14-Dec-29	$551	$244	$96,729	$202,932.73
48	294	28-Dec-29	$551	$243	$96,972	$202,381.32
49	295	11-Jan-30	$552	$243	$97,215	$201,829.25
49	296	25-Jan-30	$553	$242	$97,457	$201,276.52
49	297	08-Feb-30	$553	$241	$97,699	$200,723.13
49	298	22-Feb-30	$554	$241	$97,939	$200,169.07
49	299	08-Mar-30	$555	$240	$98,180	$199,614.35
49	300	22-Mar-30	$555	$239	$98,419	$199,058.96
49	301	05-Apr-30	$556	$239	$98,658	$198,502.91
49	302	19-Apr-30	$557	$238	$98,896	$197,946.19
49	303	03-May-30	$557	$237	$99,133	$197,388.80
49	304	17-May-30	$558	$237	$99,370	$196,830.74
49	305	31-May-30	$559	$236	$99,606	$196,272.01
49	306	14-Jun-30	$559	$235	$99,842	$195,712.61
49	307	28-Jun-30	$560	$235	$100,076	$195,152.54
49	308	12-Jul-30	$561	$234	$100,310	$194,591.80
49	309	26-Jul-30	$561	$233	$100,544	$194,030.39
49	310	09-Aug-30	$562	$233	$100,777	$193,468.30
49	311	23-Aug-30	$563	$232	$101,009	$192,905.54
49	312	06-Sep-30	$563	$231	$101,240	$192,342.10
49	313	20-Sep-30	$564	$231	$101,471	$191,777.99
49	314	04-Oct-30	$565	$230	$101,701	$191,213.20
49	315	18-Oct-30	$565	$229	$101,930	$190,647.73
49	316	01-Nov-30	$566	$229	$102,159	$190,081.59
49	317	15-Nov-30	$567	$228	$102,387	$189,514.77
49	318	29-Nov-30	$568	$227	$102,614	$188,947.27
49	319	13-Dec-30	$568	$227	$102,841	$188,379.09
49	320	27-Dec-30	$569	$226	$103,067	$187,810.22
50	321	10-Jan-31	$570	$225	$103,292	$187,240.67
50	322	24-Jan-31	$570	$225	$103,517	$186,670.44
50	323	07-Feb-31	$571	$224	$103,741	$186,099.53
50	324	21-Feb-31	$572	$223	$103,964	$185,527.93
50	325	07-Mar-31	$572	$223	$104,186	$184,955.64
50	326	21-Mar-31	$573	$222	$104,408	$184,382.67
50	327	04-Apr-31	$574	$221	$104,629	$183,809.01
50	328	18-Apr-31	$574	$220	$104,850	$183,234.66
50	329	02-May-31	$575	$220	$105,070	$182,659.62
50	330	16-May-31	$576	$219	$105,289	$182,083.89
50	331	30-May-31	$576	$218	$105,507	$181,507.47
50	332	13-Jun-31	$577	$218	$105,725	$180,930.36
50	333	27-Jun-31	$578	$217	$105,942	$180,352.56
50	334	11-Jul-31	$578	$216	$106,158	$179,774.07
50	335	25-Jul-31	$579	$216	$106,374	$179,194.88
50	336	08-Aug-31	$580	$215	$106,589	$178,615.00
50	337	22-Aug-31	$581	$214	$106,803	$178,034.42
50	338	05-Sep-31	$581	$214	$107,017	$177,453.15
50	339	19-Sep-31	$582	$213	$107,230	$176,871.18
50	340	03-Oct-31	$583	$212	$107,442	$176,288.51
50	341	17-Oct-31	$583	$211	$107,653	$175,705.14
50	342	31-Oct-31	$584	$211	$107,864	$175,121.07
50	343	14-Nov-31	$585	$210	$108,074	$174,536.30
50	344	28-Nov-31	$585	$209	$108,283	$173,950.83
50	345	12-Dec-31	$586	$209	$108,492	$173,364.66
50	346	26-Dec-31	$587	$208	$108,700	$172,777.78
51	347	09-Jan-32	$588	$207	$108,907	$172,190.20
51	348	23-Jan-32	$588	$207	$109,114	$171,601.92
51	349	06-Feb-32	$589	$206	$109,320	$171,012.93
51	350	20-Feb-32	$590	$205	$109,525	$170,423.23
51	351	05-Mar-32	$590	$204	$109,729	$169,832.83
51	352	19-Mar-32	$591	$204	$109,933	$169,241.72
51	353	02-Apr-32	$592	$203	$110,136	$168,649.90
51	354	16-Apr-32	$593	$202	$110,338	$168,057.37
51	355	30-Apr-32	$593	$202	$110,540	$167,464.13
51	356	14-May-32	$594	$201	$110,741	$166,870.18
51	357	28-May-32	$595	$200	$110,941	$166,275.51
51	358	11-Jun-32	$595	$199	$111,140	$165,680.13
51	359	25-Jun-32	$596	$199	$111,339	$165,084.04
51	360	09-Jul-32	$597	$198	$111,537	$164,487.23
51	361	23-Jul-32	$598	$197	$111,734	$163,889.71
51	362	06-Aug-32	$598	$197	$111,931	$163,291.47
51	363	20-Aug-32	$599	$196	$112,127	$162,692.51
51	364	03-Sep-32	$600	$195	$112,322	$162,092.83
51	365	17-Sep-32	$600	$194	$112,516	$161,492.43
51	366	01-Oct-32	$601	$194	$112,710	$160,891.31
51	367	15-Oct-32	$602	$193	$112,903	$160,289.47
51	368	29-Oct-32	$603	$192	$113,095	$159,686.91
51	369	12-Nov-32	$603	$192	$113,287	$159,083.63
51	370	26-Nov-32	$604	$191	$113,478	$158,479.62
51	371	10-Dec-32	$605	$190	$113,668	$157,874.89
51	372	24-Dec-32	$605	$189	$113,857	$157,269.43
52	373	07-Jan-33	$606	$189	$114,046	$156,663.25
52	374	21-Jan-33	$607	$188	$114,234	$156,056.34
52	375	04-Feb-33	$608	$187	$114,421	$155,448.70
52	376	18-Feb-33	$608	$186	$114,607	$154,840.33
52	377	04-Mar-33	$609	$186	$114,793	$154,231.23
52	378	18-Mar-33	$610	$185	$114,978	$153,621.40
52	379	01-Apr-33	$611	$184	$115,162	$153,010.84
52	380	15-Apr-33	$611	$184	$115,346	$152,399.55
52	381	29-Apr-33	$612	$183	$115,529	$151,787.53
52	382	13-May-33	$613	$182	$115,711	$151,174.77
52	383	27-May-33	$613	$181	$115,892	$150,561.28
52	384	10-Jun-33	$614	$181	$116,073	$149,947.05
52	385	24-Jun-33	$615	$180	$116,253	$149,332.08
52	386	08-Jul-33	$616	$179	$116,432	$148,716.38
52	387	22-Jul-33	$616	$178	$116,610	$148,099.94
52	388	05-Aug-33	$617	$178	$116,788	$147,482.76
52	389	19-Aug-33	$618	$177	$116,965	$146,864.84
52	390	02-Sep-33	$619	$176	$117,141	$146,246.18
52	391	16-Sep-33	$619	$175	$117,316	$145,626.78
52	392	30-Sep-33	$620	$175	$117,491	$145,006.63
52	393	14-Oct-33	$621	$174	$117,665	$144,385.74
52	394	28-Oct-33	$622	$173	$117,838	$143,764.10
52	395	11-Nov-33	$622	$172	$118,011	$143,141.72
52	396	25-Nov-33	$623	$172	$118,182	$142,518.59
52	397	09-Dec-33	$624	$171	$118,353	$141,894.71
52	398	23-Dec-33	$625	$170	$118,523	$141,270.09
53	399	06-Jan-34	$625	$169	$118,693	$140,644.72
53	400	20-Jan-34	$626	$169	$118,862	$140,018.60
53	401	03-Feb-34	$627	$168	$119,030	$139,391.73
53	402	17-Feb-34	$628	$167	$119,197	$138,764.10
53	403	03-Mar-34	$628	$166	$119,363	$138,135.72
53	404	17-Mar-34	$629	$166	$119,529	$137,506.59
53	405	31-Mar-34	$630	$165	$119,694	$136,876.70
53	406	14-Apr-34	$631	$164	$119,858	$136,246.06
53	407	28-Apr-34	$631	$163	$120,021	$135,614.66
53	408	12-May-34	$632	$163	$120,184	$134,982.50
53	409	26-May-34	$633	$162	$120,346	$134,349.58
53	410	09-Jun-34	$634	$161	$120,507	$133,715.91
53	411	23-Jun-34	$634	$160	$120,668	$133,081.48
53	412	07-Jul-34	$635	$160	$120,827	$132,446.28
53	413	21-Jul-34	$636	$159	$120,986	$131,810.32
53	414	04-Aug-34	$637	$158	$121,144	$131,173.60
53	415	18-Aug-34	$637	$157	$121,302	$130,536.12
53	416	01-Sep-34	$638	$157	$121,458	$129,897.87
53	417	15-Sep-34	$639	$156	$121,614	$129,258.86
53	418	29-Sep-34	$640	$155	$121,769	$128,619.08
53	419	13-Oct-34	$641	$154	$121,923	$127,978.53
53	420	27-Oct-34	$641	$154	$122,077	$127,337.21
53	421	10-Nov-34	$642	$153	$122,230	$126,695.12
53	422	24-Nov-34	$643	$152	$122,382	$126,052.26
53	423	08-Dec-34	$644	$151	$122,533	$125,408.63
53	424	22-Dec-34	$644	$150	$122,683	$124,764.23
54	425	05-Jan-35	$645	$150	$122,833	$124,119.06
54	426	19-Jan-35	$646	$149	$122,982	$123,473.11
54	427	02-Feb-35	$647	$148	$123,130	$122,826.39
54	428	16-Feb-35	$648	$147	$123,277	$122,178.89
54	429	02-Mar-35	$648	$147	$123,424	$121,530.62
54	430	16-Mar-35	$649	$146	$123,569	$120,881.57
54	431	30-Mar-35	$650	$145	$123,714	$120,231.74
54	432	13-Apr-35	$651	$144	$123,859	$119,581.13
54	433	27-Apr-35	$651	$143	$124,002	$118,929.74
54	434	11-May-35	$652	$143	$124,145	$118,277.57
54	435	25-May-35	$653	$142	$124,287	$117,624.62
54	436	08-Jun-35	$654	$141	$124,428	$116,970.88
54	437	22-Jun-35	$655	$140	$124,568	$116,316.36
54	438	06-Jul-35	$655	$140	$124,708	$115,661.05
54	439	20-Jul-35	$656	$139	$124,846	$115,004.96
54	440	03-Aug-35	$657	$138	$124,984	$114,348.08
54	441	17-Aug-35	$658	$137	$125,121	$113,690.41
54	442	31-Aug-35	$658	$136	$125,258	$113,031.95
54	443	14-Sep-35	$659	$136	$125,393	$112,372.70
54	444	28-Sep-35	$660	$135	$125,528	$111,712.66
54	445	12-Oct-35	$661	$134	$125,662	$111,051.83
54	446	26-Oct-35	$662	$133	$125,795	$110,390.21
54	447	09-Nov-35	$662	$132	$125,928	$109,727.80
54	448	23-Nov-35	$663	$132	$126,059	$109,064.59
54	449	07-Dec-35	$664	$131	$126,190	$108,400.59
54	450	21-Dec-35	$665	$130	$126,320	$107,735.79
55	451	04-Jan-36	$666	$129	$126,450	$107,070.19
55	452	18-Jan-36	$666	$128	$126,578	$106,403.79
55	453	01-Feb-36	$667	$128	$126,706	$105,736.59
55	454	15-Feb-36	$668	$127	$126,832	$105,068.59
55	455	29-Feb-36	$669	$126	$126,958	$104,399.79
55	456	14-Mar-36	$670	$125	$127,084	$103,730.19
55	457	28-Mar-36	$670	$124	$127,208	$103,059.79
55	458	11-Apr-36	$671	$124	$127,332	$102,388.58
55	459	25-Apr-36	$672	$123	$127,455	$101,716.57
55	460	09-May-36	$673	$122	$127,577	$101,043.75
55	461	23-May-36	$674	$121	$127,698	$100,370.12
55	462	06-Jun-36	$674	$120	$127,818	$99,695.69
55	463	20-Jun-36	$675	$120	$127,938	$99,020.45
55	464	04-Jul-36	$676	$119	$128,057	$98,344.40
55	465	18-Jul-36	$677	$118	$128,174	$97,667.54
55	466	01-Aug-36	$678	$117	$128,292	$96,989.86
55	467	15-Aug-36	$678	$116	$128,408	$96,311.37
55	468	29-Aug-36	$679	$116	$128,524	$95,632.07
55	469	12-Sep-36	$680	$115	$128,638	$94,951.95
55	470	26-Sep-36	$681	$114	$128,752	$94,271.02
55	471	10-Oct-36	$682	$113	$128,865	$93,589.27
55	472	24-Oct-36	$683	$112	$128,977	$92,906.70
55	473	07-Nov-36	$683	$111	$129,089	$92,223.31
55	474	21-Nov-36	$684	$111	$129,200	$91,539.10
55	475	05-Dec-36	$685	$110	$129,309	$90,854.07
55	476	19-Dec-36	$686	$109	$129,418	$90,168.22
56	477	02-Jan-37	$687	$108	$129,526	$89,481.55
56	478	16-Jan-37	$687	$107	$129,634	$88,794.06
56	479	30-Jan-37	$688	$107	$129,740	$88,105.74
56	480	13-Feb-37	$689	$106	$129,846	$87,416.59
56	481	27-Feb-37	$690	$105	$129,951	$86,726.62
56	482	13-Mar-37	$691	$104	$130,055	$86,035.82
56	483	27-Mar-37	$692	$103	$130,158	$85,344.19
56	484	10-Apr-37	$692	$102	$130,260	$84,651.73
56	485	24-Apr-37	$693	$102	$130,362	$83,958.44
56	486	08-May-37	$694	$101	$130,463	$83,264.32
56	487	22-May-37	$695	$100	$130,563	$82,569.37
56	488	05-Jun-37	$696	$99	$130,662	$81,873.58
56	489	19-Jun-37	$697	$98	$130,760	$81,176.96
56	490	03-Jul-37	$697	$97	$130,857	$80,479.50
56	491	17-Jul-37	$698	$97	$130,954	$79,781.21
56	492	31-Jul-37	$699	$96	$131,049	$79,082.08
56	493	14-Aug-37	$700	$95	$131,144	$78,382.11
56	494	28-Aug-37	$701	$94	$131,238	$77,681.30
56	495	11-Sep-37	$702	$93	$131,332	$76,979.65
56	496	25-Sep-37	$702	$92	$131,424	$76,277.16
56	497	09-Oct-37	$703	$92	$131,515	$75,573.83
56	498	23-Oct-37	$704	$91	$131,606	$74,869.65
56	499	06-Nov-37	$705	$90	$131,696	$74,164.63
56	500	20-Nov-37	$706	$89	$131,785	$73,458.76
56	501	04-Dec-37	$707	$88	$131,873	$72,752.05
56	502	18-Dec-37	$708	$87	$131,960	$72,044.49
57	503	01-Jan-38	$708	$86	$132,047	$71,336.08
57	504	15-Jan-38	$709	$86	$132,132	$70,626.82
57	505	29-Jan-38	$710	$85	$132,217	$69,916.71
57	506	12-Feb-38	$711	$84	$132,301	$69,205.75
57	507	26-Feb-38	$712	$83	$132,384	$68,493.93
57	508	12-Mar-38	$713	$82	$132,466	$67,781.26
57	509	26-Mar-38	$714	$81	$132,547	$67,067.74
57	510	09-Apr-38	$714	$80	$132,628	$66,353.36
57	511	23-Apr-38	$715	$80	$132,707	$65,638.12
57	512	07-May-38	$716	$79	$132,786	$64,922.02
57	513	21-May-38	$717	$78	$132,864	$64,205.07
57	514	04-Jun-38	$718	$77	$132,941	$63,487.26
57	515	18-Jun-38	$719	$76	$133,017	$62,768.58
57	516	02-Jul-38	$720	$75	$133,092	$62,049.04
57	517	16-Jul-38	$720	$74	$133,167	$61,328.64
57	518	30-Jul-38	$721	$74	$133,240	$60,607.38
57	519	13-Aug-38	$722	$73	$133,313	$59,885.25
57	520	27-Aug-38	$723	$72	$133,385	$59,162.25
57	521	10-Sep-38	$724	$71	$133,456	$58,438.39
57	522	24-Sep-38	$725	$70	$133,526	$57,713.66
57	523	08-Oct-38	$726	$69	$133,595	$56,988.06
57	524	22-Oct-38	$726	$68	$133,664	$56,261.59
57	525	05-Nov-38	$727	$67	$133,731	$55,534.25
57	526	19-Nov-38	$728	$67	$133,798	$54,806.03
57	527	03-Dec-38	$729	$66	$133,863	$54,076.94
57	528	17-Dec-38	$730	$65	$133,928	$53,346.98
57	529	31-Dec-38	$731	$64	$133,992	$52,616.14
58	530	14-Jan-39	$732	$63	$134,055	$51,884.42
58	531	28-Jan-39	$733	$62	$134,118	$51,151.83
58	532	11-Feb-39	$733	$61	$134,179	$50,418.36
58	533	25-Feb-39	$734	$60	$134,239	$49,684.01
58	534	11-Mar-39	$735	$60	$134,299	$48,948.78
58	535	25-Mar-39	$736	$59	$134,358	$48,212.67
58	536	08-Apr-39	$737	$58	$134,416	$47,475.67
58	537	22-Apr-39	$738	$57	$134,473	$46,737.79
58	538	06-May-39	$739	$56	$134,529	$45,999.02
58	539	20-May-39	$740	$55	$134,584	$45,259.37
58	540	03-Jun-39	$741	$54	$134,638	$44,518.83
58	541	17-Jun-39	$741	$53	$134,691	$43,777.40
58	542	01-Jul-39	$742	$53	$134,744	$43,035.08
58	543	15-Jul-39	$743	$52	$134,796	$42,291.87
58	544	29-Jul-39	$744	$51	$134,846	$41,547.77
58	545	12-Aug-39	$745	$50	$134,896	$40,802.78
58	546	26-Aug-39	$746	$49	$134,945	$40,056.89
58	547	09-Sep-39	$747	$48	$134,993	$39,310.11
58	548	23-Sep-39	$748	$47	$135,040	$38,562.43
58	549	07-Oct-39	$749	$46	$135,087	$37,813.86
58	550	21-Oct-39	$749	$45	$135,132	$37,064.39
58	551	04-Nov-39	$750	$44	$135,176	$36,314.02
58	552	18-Nov-39	$751	$44	$135,220	$35,562.75
58	553	02-Dec-39	$752	$43	$135,263	$34,810.58
58	554	16-Dec-39	$753	$42	$135,304	$34,057.51
58	555	30-Dec-39	$754	$41	$135,345	$33,303.53
59	556	13-Jan-40	$755	$40	$135,385	$32,548.65
59	557	27-Jan-40	$756	$39	$135,424	$31,792.86
59	558	10-Feb-40	$757	$38	$135,462	$31,036.17
59	559	24-Feb-40	$758	$37	$135,500	$30,278.57
59	560	09-Mar-40	$759	$36	$135,536	$29,520.06
59	561	23-Mar-40	$759	$35	$135,571	$28,760.64
59	562	06-Apr-40	$760	$35	$135,606	$28,000.31
59	563	20-Apr-40	$761	$34	$135,639	$27,239.07
59	564	04-May-40	$762	$33	$135,672	$26,476.91
59	565	18-May-40	$763	$32	$135,704	$25,713.84
59	566	01-Jun-40	$764	$31	$135,735	$24,949.85
59	567	15-Jun-40	$765	$30	$135,765	$24,184.95
59	568	29-Jun-40	$766	$29	$135,794	$23,419.13
59	569	13-Jul-40	$767	$28	$135,822	$22,652.39
59	570	27-Jul-40	$768	$27	$135,849	$21,884.73
59	571	10-Aug-40	$769	$26	$135,875	$21,116.15
59	572	24-Aug-40	$770	$25	$135,900	$20,346.65
59	573	07-Sep-40	$770	$24	$135,925	$19,576.23
59	574	21-Sep-40	$771	$23	$135,948	$18,804.88
59	575	05-Oct-40	$772	$23	$135,971	$18,032.61
59	576	19-Oct-40	$773	$22	$135,992	$17,259.41
59	577	02-Nov-40	$774	$21	$136,013	$16,485.28
59	578	16-Nov-40	$775	$20	$136,033	$15,710.22
59	579	30-Nov-40	$776	$19	$136,052	$14,934.23
59	580	14-Dec-40	$777	$18	$136,070	$14,157.31
59	581	28-Dec-40	$778	$17	$136,087	$13,379.46
60	582	11-Jan-41	$779	$16	$136,103	$12,600.68
60	583	25-Jan-41	$780	$15	$136,118	$11,820.96
60	584	08-Feb-41	$781	$14	$136,132	$11,040.31
60	585	22-Feb-41	$782	$13	$136,145	$10,258.72
60	586	08-Mar-41	$783	$12	$136,158	$9,476.20
60	587	22-Mar-41	$783	$11	$136,169	$8,692.74
60	588	05-Apr-41	$784	$10	$136,179	$7,908.34
60	589	19-Apr-41	$785	$9	$136,189	$7,123.00
60	590	03-May-41	$786	$9	$136,197	$6,336.71
60	591	17-May-41	$787	$8	$136,205	$5,549.48
60	592	31-May-41	$788	$7	$136,212	$4,761.31
60	593	14-Jun-41	$789	$6	$136,217	$3,972.19
60	594	28-Jun-41	$790	$5	$136,222	$3,182.12
60	595	12-Jul-41	$791	$4	$136,226	$2,391.11
60	596	26-Jul-41	$792	$3	$136,229	$1,599.15
60	597	09-Aug-41	$793	$2	$136,231	$806.24
60	598	23-Aug-41	$794	$1	$136,232	$12.38
60	599	06-Sep-41	$12	$0	$136,232	$0.00

My Status Quo Equals:

It's 2041

I am mortgage FREE in 2041. Nearing my 60th birthday. I've paid $795 every two weeks to Scotiabank over the past 23 years. I've made 599 mortgage payments. In total, I've paid $475,321.00. I've paid $136,232 in interest with my after tax money. Given 30% tax rate, I've earned $679,030 of salary to cover my 339K mortgage. At $60,000 a year salary,  $679,030 = 11 YEARS OF MY WORK AND MY LIFE. Am I happy to be a home owner.... .....23 years later?

PLAN B: FAST AND FURIOUS MORTGAGE PAY DOWN

I figured,  I don't have the patience for 23 more years of bi-weekly mortgage payments.



Hence, here is Plan B:

Age	Period	Payment Date	Principal	Interest	Total Interest	Balance
37	1	05-Oct-18	$388	$407	$407	$338,701
37	Prepayment	05-Oct-18	$14,063	$0	$407	$324,638
37	2	19-Oct-18	$405	$389	$796	$324,232
37	3	02-Nov-18	$406	$389	$1,185	$323,827
37	4	16-Nov-18	$406	$388	$1,574	$323,420
37	5	30-Nov-18	$407	$388	$1,961	$323,013
37	6	14-Dec-18	$407	$387	$2,349	$322,606
37	7	28-Dec-18	$408	$387	$2,736	$322,198
38	8	11-Jan-19	$408	$386	$3,122	$321,790
38	Prepayment	11-Jan-19	$14,063	$0	$3,122	$307,727
38	9	25-Jan-19	$426	$369	$3,491	$307,301
38	10	08-Feb-19	$426	$369	$3,860	$306,875
38	11	22-Feb-19	$427	$368	$4,228	$306,448
38	12	08-Mar-19	$427	$368	$4,596	$306,021
38	13	22-Mar-19	$428	$367	$4,963	$305,593
38	14	05-Apr-19	$428	$367	$5,329	$305,165
38	Prepayment	05-Apr-19	$14,063	$0	$5,329	$291,102
38	15	19-Apr-19	$446	$349	$5,679	$290,656
38	16	03-May-19	$446	$349	$6,027	$290,210
38	17	17-May-19	$447	$348	$6,375	$289,763
38	18	31-May-19	$447	$348	$6,723	$289,316
38	19	14-Jun-19	$448	$347	$7,070	$288,868
38	20	28-Jun-19	$448	$347	$7,417	$288,420
38	21	12-Jul-19	$449	$346	$7,762	$287,971
38	Prepayment	12-Jul-19	$14,063	$0	$7,762	$273,908
38	22	26-Jul-19	$466	$329	$8,091	$273,442
38	23	09-Aug-19	$467	$328	$8,419	$272,975
38	24	23-Aug-19	$467	$327	$8,746	$272,508
38	25	06-Sep-19	$468	$327	$9,073	$272,040
38	26	20-Sep-19	$469	$326	$9,400	$271,571
38	27	04-Oct-19	$469	$326	$9,725	$271,102
38	28	18-Oct-19	$470	$325	$10,051	$270,632
38	Prepayment	18-Oct-19	$14,063	$0	$10,051	$256,569
38	29	01-Nov-19	$487	$308	$10,358	$256,082
38	30	15-Nov-19	$488	$307	$10,666	$255,595
38	31	29-Nov-19	$488	$307	$10,972	$255,106
38	32	13-Dec-19	$489	$306	$11,278	$254,618
38	33	27-Dec-19	$489	$305	$11,584	$254,128
39	34	10-Jan-20	$490	$305	$11,888	$253,638
39	Prepayment	10-Jan-20	$14,063	$0	$11,888	$239,575
39	35	24-Jan-20	$507	$287	$12,176	$239,068
39	36	07-Feb-20	$508	$287	$12,463	$238,560
39	37	21-Feb-20	$509	$286	$12,749	$238,051
39	38	06-Mar-20	$509	$286	$13,034	$237,542
39	39	20-Mar-20	$510	$285	$13,319	$237,032
39	40	03-Apr-20	$511	$284	$13,604	$236,521
39	41	17-Apr-20	$511	$284	$13,887	$236,010
39	Prepayment	17-Apr-20	$14,063	$0	$13,887	$221,947
39	42	01-May-20	$529	$266	$14,153	$221,419
39	43	15-May-20	$529	$266	$14,419	$220,889
39	44	29-May-20	$530	$265	$14,684	$220,360
39	45	12-Jun-20	$531	$264	$14,948	$219,829
39	46	26-Jun-20	$531	$264	$15,212	$219,298
39	47	10-Jul-20	$532	$263	$15,475	$218,766
39	Prepayment	10-Jul-20	$14,063	$0	$15,475	$204,703
39	48	24-Jul-20	$549	$246	$15,721	$204,154
39	49	07-Aug-20	$550	$245	$15,966	$203,604
39	50	21-Aug-20	$551	$244	$16,210	$203,053
39	51	04-Sep-20	$551	$244	$16,453	$202,502
39	52	18-Sep-20	$552	$243	$16,696	$201,950
39	53	02-Oct-20	$553	$242	$16,938	$201,398
39	54	16-Oct-20	$553	$242	$17,180	$200,844
39	Prepayment	16-Oct-20	$14,063	$0	$17,180	$186,781
39	55	30-Oct-20	$571	$224	$17,404	$186,210
39	56	13-Nov-20	$571	$223	$17,627	$185,639
39	57	27-Nov-20	$572	$223	$17,850	$185,067
39	58	11-Dec-20	$573	$222	$18,072	$184,494
39	59	25-Dec-20	$574	$221	$18,293	$183,920
40	60	08-Jan-21	$574	$221	$18,514	$183,346
40	Prepayment	08-Jan-21	$14,063	$0	$18,514	$169,283
40	61	22-Jan-21	$592	$203	$18,717	$168,692
40	62	05-Feb-21	$592	$202	$18,919	$168,099
40	63	19-Feb-21	$593	$202	$19,121	$167,506
40	64	05-Mar-21	$594	$201	$19,322	$166,912
40	65	19-Mar-21	$595	$200	$19,522	$166,317
40	66	02-Apr-21	$595	$200	$19,722	$165,722
40	67	16-Apr-21	$596	$199	$19,921	$165,126
40	Prepayment	16-Apr-21	$14,063	$0	$19,921	$151,063
40	68	30-Apr-21	$614	$181	$20,102	$150,449
40	69	14-May-21	$614	$180	$20,282	$149,835
40	70	28-May-21	$615	$180	$20,462	$149,220
40	71	11-Jun-21	$616	$179	$20,641	$148,604
40	72	25-Jun-21	$617	$178	$20,819	$147,987
40	73	09-Jul-21	$617	$178	$20,997	$147,370
40	Prepayment	09-Jul-21	$14,063	$0	$20,997	$133,307
40	74	23-Jul-21	$635	$160	$21,157	$132,672
40	75	06-Aug-21	$636	$159	$21,316	$132,036
40	76	20-Aug-21	$636	$158	$21,474	$131,400
40	77	03-Sep-21	$637	$158	$21,632	$130,763
40	78	17-Sep-21	$638	$157	$21,789	$130,125
40	79	01-Oct-21	$639	$156	$21,945	$129,486
40	80	15-Oct-21	$640	$155	$22,100	$128,847
40	Prepayment	15-Oct-21	$14,063	$0	$22,100	$114,784
40	81	29-Oct-21	$657	$138	$22,238	$114,126
40	82	12-Nov-21	$658	$137	$22,375	$113,469
40	83	26-Nov-21	$659	$136	$22,511	$112,810
40	84	10-Dec-21	$660	$135	$22,646	$112,150
40	85	24-Dec-21	$660	$135	$22,781	$111,490
41	86	07-Jan-22	$661	$134	$22,914	$110,829
41	Prepayment	07-Jan-22	$14,063	$0	$22,914	$96,766
41	87	21-Jan-22	$679	$116	$23,030	$96,087
41	88	04-Feb-22	$680	$115	$23,146	$95,408
41	89	18-Feb-22	$680	$114	$23,260	$94,727
41	90	04-Mar-22	$681	$114	$23,374	$94,046
41	91	18-Mar-22	$682	$113	$23,486	$93,364
41	92	01-Apr-22	$683	$112	$23,598	$92,681
41	93	15-Apr-22	$684	$111	$23,710	$91,997
41	Prepayment	15-Apr-22	$14,063	$0	$23,710	$77,934
41	94	29-Apr-22	$701	$93	$23,803	$77,233
41	95	13-May-22	$702	$93	$23,896	$76,531
41	96	27-May-22	$703	$92	$23,988	$75,828
41	97	10-Jun-22	$704	$91	$24,079	$75,124
41	98	24-Jun-22	$705	$90	$24,169	$74,419
41	99	08-Jul-22	$706	$89	$24,258	$73,714
41	Prepayment	08-Jul-22	$14,063	$0	$24,258	$59,651
41	100	22-Jul-22	$723	$72	$24,329	$58,927
41	101	05-Aug-22	$724	$71	$24,400	$58,203
41	102	19-Aug-22	$725	$70	$24,470	$57,478
41	103	02-Sep-22	$726	$69	$24,539	$56,752
41	104	16-Sep-22	$727	$68	$24,607	$56,026
41	105	30-Sep-22	$728	$67	$24,674	$55,298
41	106	14-Oct-22	$729	$66	$24,741	$54,570
41	Prepayment	14-Oct-22	$14,063	$0	$24,741	$40,507
41	107	28-Oct-22	$746	$49	$24,789	$39,760
41	108	11-Nov-22	$747	$48	$24,837	$39,013
41	109	25-Nov-22	$748	$47	$24,884	$38,265
41	110	09-Dec-22	$749	$46	$24,930	$37,516
41	111	23-Dec-22	$750	$45	$24,975	$36,766
42	112	06-Jan-23	$751	$44	$25,019	$36,016
42	Prepayment	06-Jan-23	$14,063	$0	$25,019	$21,953
42	113	20-Jan-23	$769	$26	$25,045	$21,184
42	114	03-Feb-23	$769	$25	$25,070	$20,415
42	115	17-Feb-23	$770	$24	$25,095	$19,644
42	116	03-Mar-23	$771	$24	$25,118	$18,873
42	117	17-Mar-23	$772	$23	$25,141	$18,101
42	118	31-Mar-23	$773	$22	$25,163	$17,328
42	119	14-Apr-23	$774	$21	$25,184	$16,554
42	Prepayment	14-Apr-23	$14,063	$0	$25,184	$2,491
42	120	28-Apr-23	$792	$3	$25,187	$1,699
42	121	12-May-23	$793	$2	$25,189	$906
42	122	26-May-23	$794	$1	$25,190	$112
42	123	09-Jun-23	$112	$0	$25,190	$0

The New Plan Is:

Mortgage FREE by 2023

5 YEARS LATER I am mortgage FREE by 2023. I've paid $795 every two weeks to Scotiabank and made 42 regular mortgage payments. I've also made quarterly accelerated payments using my line of credit! Altogether, I paid $364,279.00 to pay off the principal of $339,089.  I now have an opportunity to leverage my home and invest over $270,000. Hence, I no longer spend $1,722 a month on my mortgage. What's even better,  I now make at least $1,000 monthly from my investments. My disposable income is up by $2,722 every month.  Yippeee! I am happy.

Financial Freedom Blueprint Gets You There Faster!

Financial Freedom Blueprinting! LOTS to think about!

Do you ever wonder if you are on the right track? 

Do you ever question your past decisions? I do!

Recently I partnered with a company that creates professional Financial Plans.

Working out the first draft of my financial plan took a lot of pondering, discussion, questions, answers, assumptions, frustration, and so forth.


Once all data has been gathered and finalized, we entered it into the financial planning software.

The program ran through hundreds of calculations and applied a few algorithms to project the value of our estate, upcoming tax obligations, assets, liabilities, cash flow, savings, etc. for years to come.

Within seconds, I got to see:

• how much money I'll have when my kids grow up
• upcoming periods of cash surplus and shorfalls
• the size of my future estate 
• my future TAX liabilities!! 

Amazing! The Financial Plan instantly gave me a visual summary of my financial future. It also helped me assess my progress towards my goal to be Financially free.

Just to give you a taste - below are some sample charts I pulled out. This is using dummy data.

What Will my Net Worth Be?

Here's a sample graph that shows a Net Worth forecast.

Red bars show liabilities. Black bars are total assets.

What will my Estate be when I turn 80?

Here's a sample estate summary  - you can see it for any point in time!

Analyzing Financial Plan

The next step is to review the initial outlook. Analyse it. Consult with experts, run through a few scenarios, and create an action plan.

The biggest and most obvious issue in my personal financial plan is insufficient liquidity.

Most of our assets are hard assets. Therefore, our long term plan shows that we should work on a strategy to acquire liquid assets, and focus on creating additional streams of passive income, as well as converting some of the hard assets into liquid.

This is not a surprise! In fact, we are currently approximately 66% done with our original passive income goal, so there's definitely room to improve. 

However, it was surprising and rewarding to realize the long-term effect of our efforts so far. Even though there's still lots to do - the plan shows that we've accumulated a lot of value, which will continue to grow with time.

Financial Freedom Blueprint

I'm so-so happy to continue to work with the Financial Planning team to build out a few scenarios for the future and incorporate upcoming actions: acquisitions, re-finances, exits, addition of new asset types, and so forth.

There are a few forks in the road when it comes to building wealth. 

Each of the scenarios we've prepared shows me a different path forward. 

So all of these scenarios together become a part of my financial freedom blueprint. 

Having an accurate and validated plan adds a LOT of clarity to my action plan. 

There's no reason to constantly question myself - the road ahead is clear.

Plumbing 911!

Oh-oh! Plumbing 911!

Over the past couple of weeks, I had to deal with a few plumbing issues. Just wanted to share some pictures, so that you can see how simple or extensive a plumbing problem can get!

Urgent yet Easy Plumbing Issue

Our tenant called on Friday evening. Their basement was flooded. Every time they used a toilet, the water would back up in the basement. Urgent help, please! - tenant really needed help. It's unpleasant when you can't use the bathroom.

We called a few plumbing companies and were placed in their priority queue. We called and called! Trying to expedite the resolution. However, no one was available and most companies didn’t even return our calls. Thankfully, our tenant was quite understanding. We did our best to get help as fast as it was possible, but no luck until the end of the weekend.

It helps when you have good local connections in the area! 

This is one of the reasons why I’m working towards gradually shifting from self-managing all units towards partnering with a property manager.

Finally, we got an appointment scheduled for Monday morning.

Fortunately, it turned out that the issue itself was easy to fix.

The plumber cabled approximately 45 feet to clear blockage, finding it approximately 32’ in the drain line at the front of house. When he retrieved the cable, we found roots on the line.

Roots Blocked a Pipe

Non-Urgent yet Difficult Plumbing Issue

We recently acquired a duplex (the one we've split up into two units). During pre-purchase inspections, we identified two problems that needed to be solved:

1) Sewer stack rusted and needed to be replaced
2) After each rain, rain water mixed with sewage backed up into the basement.

The two issues were not urgent and didn't create too much inconvenience for the tenant - he knew we'd find a good solution and was not rushing us.

Our tenant recommended an outstanding local plumbing company! 

Two technicians visited us and did a lot within just a few hours:

• replaced the old stack with new ABS plumbing
• cleared sewer lines, removing calcium build-up and roots
• fixed broken plumbing under the utility tub in the basement
• replaced P-traps and some old sections of the lines
• cleaned floor drain and put a back trap on it
• there was only one section of the lines (6-7 feet) that could not be snaked and inspected with a camera.

Now, the first issue was resolved.

Next, we had to wait until it rained, to find out if the basement would flood.

Flooded! Not Again...

There was a big storm over night! Unfortunately, the basement still got flooded.

The plumbing company let me know that most likely the problem comes from the city lines.

However, we had to inspect the last section of our pipes, to make sure everything is in order on our end. Without this, the city would never start looking into the problem.

The plumbing team came prepared to inspect the last bit of hidden lines. Take a look at the pictures below to see what it took!

Now, we know that all of the plumbing under our house and up to the City line is in good shape.We'll wait for a rainy day to find out if the basement would still get flooded. Fingers crossed...

Getting ready to dig!

Where does this pipe go?

Holly, molly!

New Pipes!

No More Flooding (Hopefully!!)

Cleaning Up!

Instant Return on Investment

Ready for the Winter

The townhouse I acquired with a serious discount last month, came with no heating.

The previous owner removed electric baseboards throughout the house and used a gas stove in the basement as the only heat source. She was saving considerably on the monthly utilities!

My brother-in-law being extremely frugal as well is another person I know who uses a wood stove to heat his entire house!

However, I don’t think I’ll be successful finding tenants who’d be thrilled about a similar set up.

Most tenants would be looking for either baseboards on every level or a gas furnace. I don’t blame them!

Can you imagine starting a wood stove early mornings when it’s 30 degrees below zero?! 

I was debating between installing new electric baseboards or using the opportunity to upgrade to a gas furnace. I decided to get quotes and work timeline for both options and go from there.

My amazing property manager received several quotes from multiple reputable vendors. Now, we knew that the costs would be as follows:

1) Electric baseboards: $6,000
2) Gas furnace including ducts: $9,000.

Instant Return: $9,000 makes $4,000 = 44% ROI

A local appraiser let me know that the price of the property would go up by $15,000, conservatively, once the gas furnace is in place. This is a $4,000 net gain on a 9K investment.

44% return - not bad, eh?

An additional benefit is that the property will look more attractive to potential tenants. Many families prefer gas heating, as it typically costs less than electricity.

This property is a condo town house. I learned from the condo manager that, before making any updates, I am supposed to get approval from the Condo Board.

Getting Board's Approval 

The approval process turned out to be much smoother than I expected. I received an “Alteration / Renovation request Form” form from the Board. Then, completed this form and returned the following to the Board before their scheduled meeting:

1) Completed Alteration / Renovation Request form
2) Photos of the locations where the contractor will core through the brick (with the area circled)
3) Contractor’s WSIB eClearance Letter and Insurance Certificate.

My property manager helped me with all three of these!

The Board confirmed their approval and we now have all the work scheduled.

I am very grateful to my Property Manager and his team. 

Can’t wait to start looking for a tenant! I’m sure they’ll love this home and enjoy being warm and cozy during the winter.

Million Dollar Decision: Spend or Save?

Balancing Act! Spending vs Saving

Recently, I ran across a fantastic company. I loved their business model.

The team their helps Canadians take control over their finances and build passive income. Most of their clients achieve the following objectives:

1. Pay off their bad debt within about 30 days
2. Create about a $1,000,000 investment portfolio within 8-10 years
3. And all this, without sacrificing their current lifestyle. 

I am starting to work closer with this firm, to learn more about the specific software program and approach they use to achieve such tremendous success. I can see how this process will benefit many of my readers.

Wouldn’t you want to have a million dollar portfolio!?

This afternoon, I worked through my own numbers and a couple of scenarios to see how I can use my primary home plus leverage to build up my passive income.

I'd like to share my notes with you. It’s amazing how the decision to hang on to current lifestyle affects the long-term outcome!

The Formula

Step 1) Re-finance your primary residence to extract as much equity as possible. Pay-off all high interest rate bad debt and invest the rest.

Step 2) Repeat step #1 above three times: today, then in 3 to 5 years, and then again in about 10 years.

Assumptions

Below are the key assumptions I made when working through my own numbers. These assumptions are reasonable in my particular case.

Your situation might be different, so please adjust and feel free to post questions below the post:

• Property appreciates steadily at 5% a year
• At first refinance, my mortgage interest rate will increase from 3.15 to 4.5%
• Mortgage interest rate will remain at 4.5% for all future years
• I will be able to re-finance up to 75% loan to value every five years
• My portfolio will be invested with an average 11% annual return.

Scenario 1: Keeping My Lifestyle

After each re-finance, I’ll spend all of the passive income.

It is important for me to use the extra disposable income right away.

Outcome

• Fifteen years later, my net worth will be $770,000.
  
• My investment portfolio will be $383,000, producing $42,000 of passive income a year. This income will not be enough to cover my annual mortgage principal and interest payment of $55,000.

Scenario 2: Extreme Frugality

After each re-finance, I’ll find a way to reduce my day-to-day spending, so that all of the passive income goes right back into my portfolio. 

As a result, my disposable income will get smaller with each refinance, yet my portfolio will grow very fast thanks to the compounding interest.

Outcome

• Fifteen years later, my net worth will be $1,307,000.
  
• My investment portfolio will be $1,001,700, producing $110,000 of passive income a year – more than enough to cover my mortgage payments of 55K. 

Know Your Options - Make Conscious Decisions 

These two scenarios show you the full spectrum of possibilities.

The first scenario best fits those who appreciate today and live in the moment. It shows that with some effort put into making your equity work for you, you can build some wealth while enjoying some extra passive income.

The second scenario emphasizes the importance of being conscious about the impact of compounding interest over a long time. If you can be frugal – be frugal! This will pay off over time and you could be on the road to creating a multi-million-dollar portfolio and hundreds of thousands in passive income!

Whichever point on the spectrum of options you choose, it's extremely important to know yourself well, evaluate the possibilities, and go for whatever plan you believe fits your needs and desires best.