Debt Free Finally

[sealybobo]

Condo and car are finally paid off. Took 20 years but I finally did it. I don't understand people who would now find something else to spend the money on. From here on out its save save save. I've already been saving but now I'm going to start buying stocks and property and other investments. It'd be nice if I could retire in ten years. I'd be 55. Probably better to work till 62.

I'm so glad I'm not in credit card debt. It'd be nice to have the extra $ to pay it down faster but I'm really glad I'm not paying for stuff I already purchased.

I have everything i want/need. There is one thing I may splurge on one day but I think it's a huge expense with very little pay off. But maybe I will buy a boat. I live on the lake and have a jetski and paddle board and friends with boats but it'd be nice to have my own boat. But gas, insurance, accessories needed, yearly storage, repairs, registration, $400 a year boat club fee. I'll have to be bleeding money to do this. And come across a great deal

Funny, I'm a liberal Democrat but I lead a very fiscally conservative lifestyle. I take Republicans advice on saving but that doesn't mean I'll vote for them. They have to stop calling me a taker and convince me they don't suck.

 

[WillowTree]

Good for you.

 

[GLASNOST]

I'm with you 100 %. I am 69 and retired 4 years already. I never bought anything on credit. Like you, there are things that 'would be nice to have' but I too have everything I need. So many people screwed themselves with credit cards and debt. I realize they had no idea what they were getting into and that's the biggest danger …. not realizing. When you're young you think you are invincible and that you'll be wealthy some day ….. so you take risks with both your health and your spending.

Congratulations! Make sure to inform the younger generation of how it feels to be debt free and maybe you will prevent some poor guy from hanging himself further down the line.

 

[sealybobo]

I'm with you 100 %. I am 69 and retired 4 years already. I never bought anything on credit. Like you, there are things that 'would be nice to have' but I too have everything I need. So many people screwed themselves with credit cards and debt. I realize they had no idea what they were getting into and that's the biggest danger …. not realizing. When you're young you think you are invincible and that you'll be wealthy some day ….. so you take risks with both your health and your spending.

Congratulations! Make sure to inform the younger generation of how it feels to be debt free and maybe you will prevent some poor guy from hanging himself further down the line.

I remember in 2004 I cancelled my cable bill. What did I save? $12k right there alone. Think I can't afford cable? You have to be tight.

I also didn't graduate with a big student loan. I owed $2000 when I graduated in the mid 90s. So first thing I did was save 20% down on my condo. Around 4 years later refi to 15 yr mortgage.

And keep in mind half the bush years and half obamas were not that good to me. I ran into some speed bumps and road blocks along the way. But I wasn't in debt when they came so I survived them. Now is the time to make up for those years I didn't save.

You know how old people who survived the depression never stopped being cheap? Fool me once....the point is you aint gonna fool me again. Lol

 

[sealybobo]

Good for you.

What about you?

 

[Fueri]

Congrats. I don't understand people that have debt piled to the ceiling either. They're just working for the banks.

Good work.

 

[sealybobo]

And I'm going to run my fusion another 90,000 Allah willing

 

[WillowTree]

Good for you.

What about you?

Retired at 57. House paid for when I moved in, debt fee. I have a nice boat. You are on the right track. Keep moving in that direction. Vote Republican, they will improve the economics of the country and make it easier for you to save.

 

[sealybobo]

Congrats. I don't understand people that have debt piled to the ceiling either. They're just working for the banks.

Good work.

I have to admit I'm a little jealous of auto union workers who in the 1980s didn't have to go to college and retired with pensions. I'm 45. I hope to retire at 62. That's 17 more years. Had I went to Ford when I graduated @ 17, ID be 2 years away from a 30 year pension. That's how much better the baby boomers had it. I have to work 15 more years because I didn't join a union God damn it. Lol.

But they say working in those factories will take ten years off your life. I'm white collar. Not back breaking or dirty and I don't have to deal with uneducated blue collar union assholes. Lol

 

[sealybobo]

Good for you.

What about you?

Retired at 57. House paid for when I moved in, debt fee. I have a nice boat. You are on the right track. Keep moving in that direction. Vote Republican, they will improve the economics of the country and make it easier for you to save.

Maybe once I start considering myself investor class not working class

 

[WillowTree]

Good for you.

What about you?

Retired at 57. House paid for when I moved in, debt fee. I have a nice boat. You are on the right track. Keep moving in that direction. Vote Republican, they will improve the economics of the country and make it easier for you to save.

Maybe once I start considering myself investor class not working class

I never invested a dime. Do you know how many trillions of dollars have just vaporized on Wall Street? If you want to invest your money rental properties are best I m h o.

 

[strollingbones]

i hope you dont get hit with medical bills...that is what i am struggling with....i had to take out a 60 month loan in jan 2014....i hope to have it paid off in 9 more months...then i have 3 interest free loans thru the hospital....and one interest free credit card that i am paying off ...house and cars are paid for....so is the land...

yes i have insurance with a high deduct

 

[GLASNOST]

I remember in 2004 I cancelled my cable bill. What did I save? $12k right there alone. Think I can't afford cable?

I think you missed your own point. Being able to afford some things is not the important issue. The best question is, "What does cable give me?". And the answer is, "Not much, if anything." People spend money on things they don't need, usually because 'everybody' has it. When we moved into this flat the woman living here asked if we wanted to just take over her cable prescription. So we asked her what channels she had. She hemmed and hawed all 3 three times we asked her, never really getting a clear answer from her. Once we moved in the flat I hooked up our flat screen and ran the automatic channel searcher, wrote them up and had a good peek at it. Jesus H. Christ! The cable channels added up to 20. But the free normal channels (without cable or satellite) came to 19 channels. And guess what ........ they were all the same, except for Children Network, or whatever it's called! So the idiot was paying for something she already had and the reason she never gave us a straight answer is because SHE DIDN'T KNOW what she had! Needless to say, we stopped the prescription immediately.

Saving money is great, especially when the money is saved on things you don't want or need anyway.

 

[WillowTree]

i hope you dont get hit with medical bills...that is what i am struggling with....i had to take out a 60 month loan in jan 2014....i hope to have it paid off in 9 more months...then i have 3 interest free loans thru the hospital....and one interest free credit card that i am paying off ...house and cars are paid for....so is the land...

yes i have insurance with a high deduct

Obamacare?

 

[strollingbones]

yes as i have said the first year...it was good to us.....i had 3 opts..and grumpy had both knees replaced...but it did p put me in debt....and then the insurance refused to pay for several things...who the hell knew what hyper infusion hydration was....and why it cost 1200 bucks that insurance refused to pay....basically i pay monthly fees for a catastrophic policy ...

 

[GLASNOST]

i hope you dont get hit with medical bills...that is what i am struggling with...

This is where socialism comes in very handy. I've never had the slightest worry with medical bills no matter how cheap or expensive the bills were and I have never had private insurance for anything.

 

[strollingbones]

but those with pre existing conditions are just happy to have any kinda insurance

 

[Fueri]

Good for you.

What about you?

Retired at 57. House paid for when I moved in, debt fee. I have a nice boat. You are on the right track. Keep moving in that direction. Vote Republican, they will improve the economics of the country and make it easier for you to save.

"Winner" awarded just to fuck with Bobo. Lol.

 

[SAYIT]

Condo and car are finally paid off. Took 20 years but I finally did it... I've already been saving but now I'm going to start buying stocks and property and other investments...

Congrats and let me suggest low-fee mutual funds. For individuals with limited resources (time, info, money) the funds can better navigate the difficult, often treacherous terrain that is Wall St. The professionals there are rewarded for winning and punished for losing making it their best interest to win for you. Just resist the temptation to sell in a panic. I built my portfolio - 3 different Vanguard funds - gradually and as a retiree have been receiving quarterly checks.

I never invested a dime. Do you know how many trillions of dollars have just vaporized on Wall Street? If you want to invest your money rental properties are best I m h o.

I have had both rentals props and stock market investments (Vanguard) for 3 decades. The "vaporized" Wall St money magically reappeared for those who had the balls to wait out the storms and while the two were about equally profitable, the Wall St investments were far less work.

 

[sealybobo]

i hope you dont get hit with medical bills...that is what i am struggling with....i had to take out a 60 month loan in jan 2014....i hope to have it paid off in 9 more months...then i have 3 interest free loans thru the hospital....and one interest free credit card that i am paying off ...house and cars are paid for....so is the land...

yes i have insurance with a high deduct

My mom had Alzheimer's. If my dad didnt take care of her it was $11,000 a month. But if you don't have money Medicare pays. Sucks for the people who saved. Or should I say their kids. The people who saved will be taken care of either way. There just won't be anything left over for the kids. And if most people have nothing and will get medicade, that's going to be a burden on the debt big time.

Eventually mom got so bad we had to put her in a $11,000 a month home but she only lived another 3 weeks. Oh, and that doesn't include pills, ensures, diapers, nothing! That's all extra and at movie theater prices.