How quickly should one pay off a house?

There is also a middle ground between a car that is almost falling apart and a new car.

It doesn’t have to be a new car for me either, but I also don’t want to have to go to the workshop every week because something else is broken.
Since I have to give up my BMW due to a job change, I needed a new family car.
For me, it doesn’t have to be a premium vehicle either, but I want to at least be able to occasionally pick up something bigger or longer from the hardware store, preferably without having to organize a trailer every time. So it had to be a station wagon again. It is now 3 years old with low mileage. For my wife, it was a lot of money again, but for me, the price was okay.

And since it’s not a new car, the first scratch doesn’t hurt as much... it is just an everyday object.

My buddy is more than financially secure, including his children, unfortunately he can't really enjoy the beginning of his retirement now because he has become seriously ill through no fault of his own and will only experience St. Nicholas a few more times.

A new car 15 years ago instead of a used one or cycling wouldn't have changed the situation now either. People keep warning that you might get sick later. But more consumption doesn't protect you from that.

Don't let others tell you how to manage your finances, you have to figure that out for yourself.

Our situation is clearly quite different compared to, for example, our friends. I simply don't have anyone in a similar situation privately to exchange experiences with. Here, however, it probably affects many who built a few years ago. 550k all-in was an unimaginably huge amount for building a house back then and we were practically called crazy for spending that much money. And now we're at +60% and more compared to back then and salaries have also clearly inflated in the meantime.

We worked like crazy for the house with several jobs and >=70h/week.

I have a 38-hour week with 60% home office (including a "time clock" at home, meaning it's usually over shortly after 3 pm) and my wife works real part-time. We're quite happy about that.

We now have only 3 goals in life:
1) stay healthy
2) stay healthy
3) retire at 58, at the latest by 60

[...]

So, most people will think we're crazy and they're right. We're fine with it and I sleep like a baby, even if we might have built more wealth in a different way. :-D

I think the goals are great.

There is also something in between a car that is almost falling apart and a brand new car.

It doesn’t have to be a new car for me either, but I also don’t want to have to go to the workshop every week because something else is broken.

That would bother me too. The small car goes to a relative who is a car mechanic every two years. Contrary to all intervals, oil is changed once every 2 years and the TÜV/emissions test is done. Plus the tire change, okay. But the car (from 2008) rarely sees a workshop and nothing breaks. According to our relative, it is rust-free and free of defects. But it’s just an old small car with about 60 hp and basic equipment (okay, it has air conditioning - that’s the most important).

For me, it doesn’t have to be a premium vehicle either, but I at least want to be able to carry something bigger or longer from the hardware store sometimes and preferably without having to arrange a trailer every time. So it had to be a station wagon again. It is now 3 years old with low mileage. For my wife it was a lot of money again; for me, the price was okay.

And since it’s not a new car, the first scratch doesn’t hurt so much... it’s just an everyday object.

Even if it’s a KIA Ceed station wagon or something, it easily goes towards 22k for 3 years old, at least that’s how I see the prices (if we buy a car, it should also be automatic - I don’t know if a manual perhaps costs a bit less). And 22k is quite a lot of money; for that net amount, I basically have to work half a year (and do that every 8 years, then in 24 years with each used station wagon you’ve added 1.5 extra working years). The Germany ticket as a job ticket costs 411.6 euros per year after deducting the employer’s contributions.

And at 22k, of course a scratch or a spilled apple spritzer would hurt me.

Even if it’s a KIA Ceed station wagon or something like that, it easily goes towards 22k for a 3-year-old car, at least that’s how I see the prices (if we buy a car, it should also be automatic – I don’t know if manuals maybe cost a bit less). And 22k is quite a sum of money, for that net amount I basically have to work half a year (and do that every 8 years, then after 24 years you’ve added 1.5 extra working years just by buying a used station wagon each time). The Germany ticket as a job ticket costs 411.6 euros per year after deducting employer contributions.

It was even a bit more expensive, but well, then so be it. With BMW you probably would have spent 10 grand more. For me it’s simply comfort and life time to be able to get into the car early and be at work in 5 minutes. Otherwise I would have to walk 20-25 minutes for the 10-minute bus ride. (Greta would probably lynch me for this statement.) Sure, 25k is a lot of money, but with that I also go on vacation, visit my parents/in-laws, do excursions, etc.

And 22k is quite a sum of money, for that net amount I basically have to work half a year (and do that every 8 years, then after 24 years you’ve added 1.5 extra working years just by buying a used station wagon each time)

If you’re going to be that exact with calculations. Since you apparently like to go on vacation/fly. Flight costs and rental cars on vacation you would definitely charge to the vacation budget, so you would also have to split the vehicle costs including depreciation for the vacation trip and charge them proportionally to the vacation budget. Are you that conscientious about that?

What you have left over is income for some people. If they worry about money like that, then I can understand that... but with you?

What you have left over, some people have as income. If they worry about money like that, then I can understand it.... but you?

I think that sometimes too.
The people here in the forum usually don't have real money worries, but at most make some up themselves.
I also know some people who continue to drive their 10-year-old cars. But not because they want to or are reluctant to spend a lot of money on a new car, but because they simply have no other choice. Even €5,000 would be too much for a car, because they simply don't have the money.

For me it's simply convenience and saving life time to be able to get into the car early and be at work in 5 minutes. Otherwise, I would have to walk 20-25 minutes for the 10-minute bus ride.

The bus stop here is 200-300 meters, 4-5 minutes away. Travel time is also roughly comparable between car and bus. And only twice a week. For me, the decision is different though, because for me at most convenience would be an argument, but not saving life time.

Sure, 25k is a lot of money, but with that I also go on vacation, drive to my parents/in-laws, go on trips, etc.

For that we have another, old car - however mid-range (C-Class, 3-Series, A4), but also old. My wife also needs this car for her commute (which is actually significantly faster than public transport for her).

You would certainly add flight costs and rental car to the vacation budget, so you would have to split vehicle costs including depreciation and proportionally add them to the vacation budget for the trip. Are you that conscientious about it?

You mean because of the drive to the airport? It’s not far. Going on vacation by car with kids is absolutely not my thing; I find it extremely stressful to drive for hours on the highway.

What you have left over, some people have as income. If they worry about money like that, I can understand that... but you?

According to that logic, for example, managing directors, board members or professional footballers wouldn’t have to worry about their financial situation anymore. I don’t think that’s wise. And I also don’t think you would allow me to stop paying attention to money altogether – after all, we are not set for life (quite the opposite: we are in debt!).

(And as I said, I don’t worry a lot about money. I want to do that now here and focused, while in everyday life it is relatively unimportant to me...)