I'm 51 have been living 24/7 as a woman for 3-4 years (and was living VERY fem androgynous for 10 years prior) and have had no surgery, electrolysis and just started HRT a few months ago. I guess I'm lucky I have almost no beard shadow? Makeup is really all I need. Some people might HAVE to do something else about that? I had a nasty reaction to electrolysis so had to skip that part

It does take some money to build up a wardrobe, thrift stores and on line sales can save a ton on that expense. As far as boobs, look up "Pals breast forms", they are awesome! WAY better that anything else I have seen or tried. I honestly don't really care if HRT works great or not, these do the job for me. I found Jon Renau wigs to be very reasonably priced, look nice, are comfortable and last for a couple of months of daily wear.
My name change took some money but I guess you could do that on your own too. That step was a big one and the one that "sealed my fate" so to speak. I had been living full time about a year when that finally went through so REALLY felt good to get an ID with a picture and name that fit my new gender. Wish I could get a F on it too but.... For now that's not possible.
You can always find an excuse to not do this. Money is a good one but the MAIN thing is the courage to JUST DO IT. If you insist on passing 100% before you start living 24/7 you likely never will. I pass most of the time it seems, maybe people are just being nice/respectful or just give me the benefit of the doubt? Whatever the reason, I am treated like a woman by most people which is ALL that matters to me. I did this in place and there are some difficulties involved in that. A few slow people I had to have a talk with them and say "Look, I am NOT a guy anymore (duh), my name is NOT _______ so please respect the changes I have made in my life."
On the meds, I had a bad reaction to estrogen (long story) but tolerate Spiro fine. Just removing the T from your system does wonders and that part of the HRT doesn't stress your system nearly as much as the other parts do. That said HRT is NOT required to start living 24/7, actually nothing other that just gaining the courage to do it is