November 2023 marked a monumental moment in my life—one I’ll never forget. After years of discipline, planning, and perseverance, I finally paid off my HDB loan!
It’s hard to put into words the sense of relief and pride that comes with being mortgage-free, but I’m going to try. This milestone isn’t just about closing a chapter; it’s about opening the door to new possibilities, like retirement and true financial freedom.
To make this moment happen, I used a combination of ~S$20,000 from my CPF Ordinary Account and ~S$35,000 in cash. Watching that final payment clear and seeing the balance hit zero felt surreal.
It was the culmination of years of budgeting, sacrificing small luxuries, and staying focused on the bigger picture. Every dollar saved, every extra payment made—it all added up to this.
Being free of a mortgage is more than just a financial win; it’s a mental and emotional weight lifted. No longer having that monthly HDB loan payment hanging over my head gives me a sense of control over my finances that I’ve never felt before.
It’s liberating to know that my home is fully mine, and I can now redirect my resources toward the next big milestone: retirement.
Paying off the HDB loan has given me a clear runway to focus on building my retirement nest egg. Without the burden of a mortgage, I can channel more funds into investments, savings, or even exploring new passions that I’ve put on hold.
It’s a step closer to financial freedom—a goal that once felt distant but now seems within reach. I’m excited to plan this next phase, whether it’s boosting my CPF savings, exploring investment opportunities, or simply enjoying a bit more peace of mind.
This journey has taught me that financial freedom isn’t just about having money—it’s about having choices. Paying off my HDB loan has given me the freedom to make decisions without the constant pressure of a mortgage.
It’s a reminder that small, consistent steps can lead to massive milestones. For anyone out there still working toward paying off their loan, keep going—it’s worth it.
Here’s to celebrating this victory and looking forward to the next one. Financial freedom, I’m coming for you!