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Started By
Message
Finally - I am debt free
Posted on 3/15/17 at 7:15 am
Posted on 3/15/17 at 7:15 am
Got out of the Marine Corps two years ago and still had some of the wife's student loan debt, wrote the last check in January.
I thought we would be living in CO long term so I bought a brand new Tacoma Jan 2016 for $35k, 72 months @ 2.5%
Well, life happens - we have a kid on the way and I was accepted to business school on the west coast. Sold the truck for $32.5k - paid off the note and used the rest for a big maintenance day on my 4runner (which is paid off).
Currently $0 in debt, ~$20k in Roths, ~$10k in 401(k)
I'm not OT rich but man - today is a good day.
I thought we would be living in CO long term so I bought a brand new Tacoma Jan 2016 for $35k, 72 months @ 2.5%
Well, life happens - we have a kid on the way and I was accepted to business school on the west coast. Sold the truck for $32.5k - paid off the note and used the rest for a big maintenance day on my 4runner (which is paid off).
Currently $0 in debt, ~$20k in Roths, ~$10k in 401(k)
I'm not OT rich but man - today is a good day.
7
Posted on 3/15/17 at 7:21 am to Azazello
Awesome man! Congrats!
Posted on 3/15/17 at 7:30 am to Azazello
quote:
Well, life happens - we have a kid on the way and I was accepted to business school on the west coast. Sold the truck for $32.5k
Props for doing that.
Congrats man.
Just continue living below your means and save as much as possible.
Posted on 3/15/17 at 7:57 am to bwallcubfan
I had to sign to say CONGRATULATIONS!
It's amazing how those Toyota's hold their value.
It's amazing how those Toyota's hold their value.
Posted on 3/15/17 at 8:08 am to ItzMe1972
i very fondly remember the day i celebrated being debt free -- it was a good one. enjoy!
Posted on 3/15/17 at 8:12 am to Azazello
Congrats. Being debt free is the first step to being wealthy. It is a great day today
Posted on 3/15/17 at 8:18 am to Azazello
Where did our decide to go for business school? Haas, Anderson?
Posted on 3/15/17 at 8:30 am to Finch
When I was young, my mentor told me "you will be surprised how little it takes to live well when when you do not owe anyone a thing". Truth.
Posted on 3/15/17 at 8:58 am to Azazello
That's awesome. Great feeling isn't it? Good luck to you and your family.
Posted on 3/15/17 at 8:59 am to lynxcat
quote:
Where did our decide to go for business school?
Anderson. Will remain on the WL at Kellogg until June but Im excited about UCLA - absolutely love it out there.
Posted on 3/15/17 at 9:15 am to Azazello
Congrats man! Both are tremendous schools that will undoubtedly open doors. Look forward to hearing about your experience
Posted on 3/15/17 at 10:50 am to Azazello
Congrats to you and thanks for serving. Sucks that you aren't single moving out there, but you know...
Posted on 3/15/17 at 2:39 pm to Azazello
quote:
I'm not OT rich but man - today is a good day.
First, Semper Fi. Second, I wouldn't be surprised if you were wealthier than most of those guys, if not now, with no debt, soon. Third, I have 4 years left of my last business loan. About 2400 a month. I can't wait for the day that I keep this $30K, instead of paying myself that amount, then paying tax on it, only to turn around and pay interest on it.
I'm in the camp of believers that as little debt as possible is good, outside of some business debt and real estate debt that produces income, I have little debt. Until I reached the point I had little debt, or at least all healthy debt, I was never able to accrue any real wealth, certainly not cash liquidity. In probably less than 4 years almost everything I make, I'll get to keep. That is the key as I see it.
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