By following your plan, you will be debt free in a million years!
Have you ever played around with one of those debt free calculators? You know the kind. Enter your numbers, interest rates, etc and it will give you an estimate of how long it will take you to get out of debt. While an estimate of a million years is obviously stretching it, for someone who is already in their 50s, the number may as well be a million years. Depressing, huh? Could be, but it doesn't necessary need to be!
I honestly think the results of these calculators should come with a disclaimer and potentially some warnings. A disclaimer in that circumstances seldom stay the same. Change is all part of the journey we call life. The warning, aside from the potential heart attack the numbers might give you, could be that the results might just shock you enough to actually do something about it!
What plugging in our numbers has done for me is to reinforce what I already knew...we have to make changes, and thankfully, we are! It is often said that the definition of insanity is doing the same thing over and over and expecting different results. That's exactly what we would be doing if we followed those projections, which we won't. Being a numbers nerd, I'll still play around with the calculator, but it will be with different numbers proving those million years to be wrong.