In today's episode of "Dubious Milestones"...

I was reviewing our mortgage statement and realized we owe more on the new HVAC system than we do on the house. I suppose that’s progress. We should have the house paid off at the end of the year and then hopefully we can get the new HVAC paid off before the downstairs unit gives up the ghost.

A Tentative Change in Plans (for Berklee)

My plan had been that I would take one more semester, Winter 2025, and this would complete all my regular classes and up to level 4 (of 9) guitar lesson requirements. After emailing the financial advisors at Berklee, they worked out that I could take just the private lessons for four semesters and stretch out my benefits for longer than planned.

Since the private lesson is only 2 semester hours, it ends up not counting as much against my benefits as a full time course load would count. With this plan, I’d take just the private lesson for all four of the 2024 semesters, and then in the Winter 2025 semester I’d take my two remaining regular courses and the private lesson level 8 course.

Under that plan, when I get to Winter 2025 I’ll only have 13 days of benefits remaining, but the VA will extend your benefits to cover your last semester even if you only have one day remaining. The downside is that I won’t receive any housing benefits for those four semesters, but I would get them for the last semester. That’s just delaying the housing benefits by a year, so not really a significant change in that I’m not losing any potential benefits. Arguably I’m gaining a year of benefits that I handn’t planned on getting.

As it turns out, January 2025 is also our planned mortgage payoff date so we’ll be getting a few needed income bumps in that timeframe. Without the housing benefit for the next year, our cash balance will likely drop a bit, but we should be able to stretch things out enough until the house is paid off. Worst case scenario, we can dip into my 401K for a bit of cash to tide us over, but hopefully that won’t be necessary.