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re: Anybody here completely debt free?
Posted on 1/13/15 at 1:28 pm to Tiger Ryno
Posted on 1/13/15 at 1:28 pm to Tiger Ryno
quote:
Anybody here completely debt free?
man that has to feel really good every morning and just doing whatever you want with no fear.
It certainly does. It took a lot of work & sacrifice to get here plus a certain amount of luck but it was worth every bit of it.
0
Posted on 1/13/15 at 1:29 pm to Tiger Ryno
I stil have 6,000 in student loans from one semester where I had a lot of fun.
I am technically only a partial (plurality) owner of my property, but it is completely paid for.
I am technically only a partial (plurality) owner of my property, but it is completely paid for.
Posted on 1/13/15 at 1:35 pm to Tiger Ryno
Truck - paid
House - paid
Still have to worry about bills though, and that is always a sizeable chunk
House - paid
Still have to worry about bills though, and that is always a sizeable chunk
Posted on 1/13/15 at 1:36 pm to JoePepitone
quote:
I made 2 mortgage payments per month so it made a pretty big impact.
I'm paying mine as slow as they'll let me with the interest rate I got it's free money
Posted on 1/13/15 at 1:40 pm to yellowfin
quote:
I'm paying mine as slow as they'll let me with the interest rate I got it's free money
smart move.
That extra payment can generate a much higher ROI in numerous other markets than sinking it into the principal on your mortgage.
Money is just a tool
Posted on 1/13/15 at 1:41 pm to yellowfin
That's a good strategy given today's rates. My mortgage was from 2004 when rates were higher. I had paid it off before interest rates got ridiculously low.
Posted on 1/13/15 at 1:43 pm to yellowfin
quote:
I'm paying mine as slow as they'll let me with the interest rate I got it's free money
Being in debt isn't a bad thing for us smart people.
*High Five*
Posted on 1/13/15 at 1:43 pm to Tiger Ryno
With interest rates as low as they have been, why would anyone choose to be debt free? If I liquidated my investments, I could easily pay off my debts, but my investments are making more than the interest I'm paying.
Posted on 1/13/15 at 1:44 pm to Tiger Ryno
I'm working my plan - just updated it today.
Looks like I will be debt free March 2022 - at the latest - which ain't bad - but I'll be in another mortgage within 18 months.
Earliest possible is August 2020, but that would take a little bit of luck.
Looks like I will be debt free March 2022 - at the latest - which ain't bad - but I'll be in another mortgage within 18 months.
Earliest possible is August 2020, but that would take a little bit of luck.
Posted on 1/13/15 at 1:46 pm to Ace Midnight
quote:
I'm working my plan - just updated it today.
Looks like I will be debt free March 2022 - at the latest - which ain't bad - but I'll be in another mortgage within 18 months.
Earliest possible is August 2020, but that would take a little bit of luck.
However, having two fixed assets in real estate, you'll be ahead of the game
Posted on 1/13/15 at 1:47 pm to JoePepitone
quote:
I made 2 mortgage payments per month so it made a pretty big impact.
Did the same thing with our first home. Paid it off in 7 years and didn't even tell husband. Then one day I told him we are buying anew home (to take advantage of low interest rate) and renting our 1st home. One of the best decisions I've ever made.
Posted on 1/13/15 at 1:48 pm to Cdawg
quote:
Being in debt isn't a bad thing for us smart people.
meh, depends on what phase of life you're in, have you maxed out your earning potential? how many earning years left, etc.? paying too much interest kills a lot of dreams
Posted on 1/13/15 at 1:48 pm to Ace Midnight
Yes. House paid for years ago as a present to myself. Have not paid anyone a penny in interest since.
Not rich, but no debt makes me happy.
Not rich, but no debt makes me happy.
Posted on 1/13/15 at 1:49 pm to Tiger Ryno
Me.
Posted on 1/13/15 at 1:53 pm to Tiger Ryno
No debt for me. Not a homeowner, though. Parents did me a huge solid with undergrad and professional school. We had debt growing up and I am terrified of it. Will be paying cash for a new (read: lightly used) car sometime around 2019. Until then, stack paper.
Posted on 1/13/15 at 1:55 pm to yellowfin
quote:
I'm paying mine as slow as they'll let me with the interest rate I got it's free money
I keep going back and forth on this. Part of me wants to pay off the mortgage ASAP, the other part thinks that I should pay the minimum and put that extra money toward retirement.
Posted on 1/13/15 at 1:58 pm to Tiger Ryno
Assets: $750,000 in investments.
Debts: $1,001.04/car debt. Will be paid in full this Friday.
Debts: $1,001.04/car debt. Will be paid in full this Friday.
Posted on 1/13/15 at 1:59 pm to Tiger Ryno
Free accept for mortgage(couple of years) and student loans(I will be dead and still paying them).
Posted on 1/13/15 at 2:01 pm to JoePepitone
quote:
One of my best days ever was the day I satisfied the mortgage on my house. It's amazing how much extra money you have without a house note or rent.
My personal residence has an interest rate of like 3.75% so i know I shouldn't try and pay it off early but damn it I want those feels you have. I only owe like $50,000 on the house though so I may just do it.
Posted on 1/13/15 at 2:01 pm to LSUBoo
I'd rather be cash heavy than house heavy
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