Post your Financial Milestone Announcements Here

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willthrill81
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Re: Post your Financial Milestone Announcements Here

Post by willthrill81 »

Wanderingwheelz wrote: Tue Mar 02, 2021 9:52 am
willthrill81 wrote: Tue Mar 02, 2021 9:27 am
Wanderingwheelz wrote: Tue Mar 02, 2021 7:42 am
willthrill81 wrote: Mon Mar 01, 2021 9:29 pm
Wanderingwheelz wrote: Mon Mar 01, 2021 9:26 pm Our joint account hit $2MM for the first time today. That should offer a decent bridge to tax deferred withdrawals. :D
Very nice! The second was easier than the first, right? :wink:
The second was so easy I stopped working until life shows me I need to change my course of action. If you ever needed a sign we’re in a bubble, there you have it. :)

With a net worth of $4MM the last $1MM took roughly 12 months. Covid has been an amazing thing for those of us with assets- especially with homes in hot resort markets.
We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
No. But I think about taking risk off the table just about every single day- especially on days like yesterday when your NW jumps by 1x expenses. If I went to all-cash it would be a very long time before I ran out of money, if I ever did. Someday, when you’ve accumulated enough assets to quit working you’ll probably think those sorts of thoughts too.
I suspect that I might feel that way. But I'm really not sure yet what my investment strategy in retirement will be. I'm currently really aggressive, though I do use a trend following strategy, but I'm thinking that I might split use this approach with only 50% of my portfolio and put the other 50% into something akin to the Golden Butterfly portfolio. Hopefully, I still have over a decade to think about it.

Late last year, I was successful in convincing my retired father to at least move his next two years of anticipated RMDs into short-term bonds. Prior to that, he was 100% stock. Granted, their portfolio is only for 'fun' money since their essential spending is covered by other income sources, but still, I think that at least a small cushion of mostly non-volatile assets is appropriate even for aggressive retirees.
The Sensible Steward
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willthrill81
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Re: Post your Financial Milestone Announcements Here

Post by willthrill81 »

smitcat wrote: Tue Mar 02, 2021 9:55 am
willthrill81 wrote: Tue Mar 02, 2021 9:27 am
Wanderingwheelz wrote: Tue Mar 02, 2021 7:42 am
willthrill81 wrote: Mon Mar 01, 2021 9:29 pm
Wanderingwheelz wrote: Mon Mar 01, 2021 9:26 pm Our joint account hit $2MM for the first time today. That should offer a decent bridge to tax deferred withdrawals. :D
Very nice! The second was easier than the first, right? :wink:
The second was so easy I stopped working until life shows me I need to change my course of action. If you ever needed a sign we’re in a bubble, there you have it. :)

With a net worth of $4MM the last $1MM took roughly 12 months. Covid has been an amazing thing for those of us with assets- especially with homes in hot resort markets.
We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
FWIW - our home up north (NE) is just about 3.5X the value of when we purchased it 21 years ago. We feel its a good time to sell at this time.
We've even thought about selling ourselves, but we're very content with our home and location, and we couldn't get anything similar in our area for significantly less money. So we'll just keep it for now at least. The downside of this property appreciation is that our taxes go up significantly every year, 11% higher this year compared to last.
The Sensible Steward
Wanderingwheelz
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Re: Post your Financial Milestone Announcements Here

Post by Wanderingwheelz »

willthrill81 wrote: Tue Mar 02, 2021 9:57 am
Wanderingwheelz wrote: Tue Mar 02, 2021 9:52 am
willthrill81 wrote: Tue Mar 02, 2021 9:27 am
Wanderingwheelz wrote: Tue Mar 02, 2021 7:42 am
willthrill81 wrote: Mon Mar 01, 2021 9:29 pm

Very nice! The second was easier than the first, right? :wink:
The second was so easy I stopped working until life shows me I need to change my course of action. If you ever needed a sign we’re in a bubble, there you have it. :)

With a net worth of $4MM the last $1MM took roughly 12 months. Covid has been an amazing thing for those of us with assets- especially with homes in hot resort markets.
We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
No. But I think about taking risk off the table just about every single day- especially on days like yesterday when your NW jumps by 1x expenses. If I went to all-cash it would be a very long time before I ran out of money, if I ever did. Someday, when you’ve accumulated enough assets to quit working you’ll probably think those sorts of thoughts too.
I suspect that I might feel that way. But I'm really not sure yet what my investment strategy in retirement will be. I'm currently really aggressive, though I do use a trend following strategy, but I'm thinking that I might split use this approach with only 50% of my portfolio and put the other 50% into something akin to the Golden Butterfly portfolio. Hopefully, I still have over a decade to think about it.

Late last year, I was successful in convincing my retired father to at least move his next two years of anticipated RMDs into short-term bonds. Prior to that, he was 100% stock. Granted, their portfolio is only for 'fun' money since their essential spending is covered by other income sources, but still, I think that at least a small cushion of mostly non-volatile assets is appropriate even for aggressive retirees.
I talk to my dad, but I don’t advise him since he’s done exceptionally well for himself being a Boglehead before me. I think I’m rare being a son of a Boglehead, probably. He’s done so well that even though I don’t count on it I do look at the “inheritance” block on the retirement calculators and am left scratching my head. (I can easily see about $4MM in real estate) When I ask my dad what he thinks I should put in there he just smiles and sort of laughs a Boglehead laugh.

Oh well. They’re all just numbers on a screen someplace.

I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business. That’s a few years off at the earliest and with her there’s just no way to plan anything. She could work for another 20. As long as she’s happy I’m happy. :D
Being wrong compounds forever.
smitcat
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Re: Post your Financial Milestone Announcements Here

Post by smitcat »

willthrill81 wrote: Tue Mar 02, 2021 9:58 am
smitcat wrote: Tue Mar 02, 2021 9:55 am
willthrill81 wrote: Tue Mar 02, 2021 9:27 am
Wanderingwheelz wrote: Tue Mar 02, 2021 7:42 am
willthrill81 wrote: Mon Mar 01, 2021 9:29 pm

Very nice! The second was easier than the first, right? :wink:
The second was so easy I stopped working until life shows me I need to change my course of action. If you ever needed a sign we’re in a bubble, there you have it. :)

With a net worth of $4MM the last $1MM took roughly 12 months. Covid has been an amazing thing for those of us with assets- especially with homes in hot resort markets.
We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
FWIW - our home up north (NE) is just about 3.5X the value of when we purchased it 21 years ago. We feel its a good time to sell at this time.
We've even thought about selling ourselves, but we're very content with our home and location, and we couldn't get anything similar in our area for significantly less money. So we'll just keep it for now at least. The downside of this property appreciation is that our taxes go up significantly every year, 11% higher this year compared to last.
I hear you - the choices are never that clear. Our property taxes are high but there are limits on what they can increase each year, always some good and some not so good no matter where.
smitcat
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Re: Post your Financial Milestone Announcements Here

Post by smitcat »

Wanderingwheelz wrote: Tue Mar 02, 2021 10:17 am
willthrill81 wrote: Tue Mar 02, 2021 9:57 am
Wanderingwheelz wrote: Tue Mar 02, 2021 9:52 am
willthrill81 wrote: Tue Mar 02, 2021 9:27 am
Wanderingwheelz wrote: Tue Mar 02, 2021 7:42 am

The second was so easy I stopped working until life shows me I need to change my course of action. If you ever needed a sign we’re in a bubble, there you have it. :)

With a net worth of $4MM the last $1MM took roughly 12 months. Covid has been an amazing thing for those of us with assets- especially with homes in hot resort markets.
We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
No. But I think about taking risk off the table just about every single day- especially on days like yesterday when your NW jumps by 1x expenses. If I went to all-cash it would be a very long time before I ran out of money, if I ever did. Someday, when you’ve accumulated enough assets to quit working you’ll probably think those sorts of thoughts too.
I suspect that I might feel that way. But I'm really not sure yet what my investment strategy in retirement will be. I'm currently really aggressive, though I do use a trend following strategy, but I'm thinking that I might split use this approach with only 50% of my portfolio and put the other 50% into something akin to the Golden Butterfly portfolio. Hopefully, I still have over a decade to think about it.

Late last year, I was successful in convincing my retired father to at least move his next two years of anticipated RMDs into short-term bonds. Prior to that, he was 100% stock. Granted, their portfolio is only for 'fun' money since their essential spending is covered by other income sources, but still, I think that at least a small cushion of mostly non-volatile assets is appropriate even for aggressive retirees.
I talk to my dad, but I don’t advise him since he’s done exceptionally well for himself being a Boglehead before me. I think I’m rare being a son of a Boglehead, probably. He’s done so well that even though I don’t count on it I do look at the “inheritance” block on the retirement calculators and am left scratching my head. (I can easily see about $4MM in real estate) When I ask my dad what he thinks I should put in there he just smiles and sort of laughs a Boglehead laugh.

Oh well. They’re all just numbers on a screen someplace.

I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business. That’s a few years off at the earliest and with her there’s just no way to plan anything. She could work for another 20. As long as she’s happy I’m happy. :D
"I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business."
So you are not retired then?
stoptothink
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Re: Post your Financial Milestone Announcements Here

Post by stoptothink »

willthrill81 wrote: Tue Mar 02, 2021 9:27 am
Wanderingwheelz wrote: Tue Mar 02, 2021 7:42 am
willthrill81 wrote: Mon Mar 01, 2021 9:29 pm
Wanderingwheelz wrote: Mon Mar 01, 2021 9:26 pm Our joint account hit $2MM for the first time today. That should offer a decent bridge to tax deferred withdrawals. :D
Very nice! The second was easier than the first, right? :wink:
The second was so easy I stopped working until life shows me I need to change my course of action. If you ever needed a sign we’re in a bubble, there you have it. :)

With a net worth of $4MM the last $1MM took roughly 12 months. Covid has been an amazing thing for those of us with assets- especially with homes in hot resort markets.
We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
Based on two recent direct comp (exact same floorplan townhomes, in same community) our home is worth about 65% more than what we paid for it 5yrs ago. RE market is insane right now.
Normchad
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Re: Post your Financial Milestone Announcements Here

Post by Normchad »

abuss368 wrote: Mon Mar 01, 2021 10:27 pm I love and really enjoy that this forum is helping so many folks become more financially secure and better investors based on investing advice inspired by Jack Bogle!

Tony
It is wonderful indeed. I love seeing so many people succeed. Folks are working hard, delaying gratification, and planning ahead. They’re putting in the effort, and it’s paying off. I’m grateful for this site, and all the great advice available here.

And I look forward to seeing you in your truck someday!
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

willthrill81 wrote: Mon Mar 01, 2021 8:54 pm Our portfolio reached $500k today. Next stop, cool mill. 8-)
Congratulations :) .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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willthrill81
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Re: Post your Financial Milestone Announcements Here

Post by willthrill81 »

ruralavalon wrote: Tue Mar 02, 2021 11:53 am
willthrill81 wrote: Mon Mar 01, 2021 8:54 pm Our portfolio reached $500k today. Next stop, cool mill. 8-)
Congratulations :) .
Thanks!
The Sensible Steward
Wanderingwheelz
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Re: Post your Financial Milestone Announcements Here

Post by Wanderingwheelz »

smitcat wrote: Tue Mar 02, 2021 10:33 am
Wanderingwheelz wrote: Tue Mar 02, 2021 10:17 am
willthrill81 wrote: Tue Mar 02, 2021 9:57 am
Wanderingwheelz wrote: Tue Mar 02, 2021 9:52 am
willthrill81 wrote: Tue Mar 02, 2021 9:27 am

We too have experienced significant property appreciation in recent years. Our home is worth 50% more now than it was when we bought it about six years ago.

So are you taking some 'risk' off the table?
No. But I think about taking risk off the table just about every single day- especially on days like yesterday when your NW jumps by 1x expenses. If I went to all-cash it would be a very long time before I ran out of money, if I ever did. Someday, when you’ve accumulated enough assets to quit working you’ll probably think those sorts of thoughts too.
I suspect that I might feel that way. But I'm really not sure yet what my investment strategy in retirement will be. I'm currently really aggressive, though I do use a trend following strategy, but I'm thinking that I might split use this approach with only 50% of my portfolio and put the other 50% into something akin to the Golden Butterfly portfolio. Hopefully, I still have over a decade to think about it.

Late last year, I was successful in convincing my retired father to at least move his next two years of anticipated RMDs into short-term bonds. Prior to that, he was 100% stock. Granted, their portfolio is only for 'fun' money since their essential spending is covered by other income sources, but still, I think that at least a small cushion of mostly non-volatile assets is appropriate even for aggressive retirees.
I talk to my dad, but I don’t advise him since he’s done exceptionally well for himself being a Boglehead before me. I think I’m rare being a son of a Boglehead, probably. He’s done so well that even though I don’t count on it I do look at the “inheritance” block on the retirement calculators and am left scratching my head. (I can easily see about $4MM in real estate) When I ask my dad what he thinks I should put in there he just smiles and sort of laughs a Boglehead laugh.

Oh well. They’re all just numbers on a screen someplace.

I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business. That’s a few years off at the earliest and with her there’s just no way to plan anything. She could work for another 20. As long as she’s happy I’m happy. :D
"I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business."
So you are not retired then?
I stopped working at the end of last year. But my household has an earned income that far exceeds our expenses, since my wife’s business is 21 years old and quite profitable. So what I said was my household doesn’t have a retirement strategy as it pertains to investments and withdrawals. We’re still accumulating, with no end in sight.
Being wrong compounds forever.
lostdog
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Re: Post your Financial Milestone Announcements Here

Post by lostdog »

willthrill81 wrote: Mon Mar 01, 2021 8:54 pm Our portfolio reached $500k today. Next stop, cool mill. 8-)

Congratulations. The cool mill will come fast.
Stocks-80% || Bonds-20% || VTI/VXUS/AOR
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willthrill81
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Re: Post your Financial Milestone Announcements Here

Post by willthrill81 »

lostdog wrote: Tue Mar 02, 2021 1:07 pm
willthrill81 wrote: Mon Mar 01, 2021 8:54 pm Our portfolio reached $500k today. Next stop, cool mill. 8-)

Congratulations. The cool mill will come fast.
Thanks!
The Sensible Steward
smitcat
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Re: Post your Financial Milestone Announcements Here

Post by smitcat »

Wanderingwheelz wrote: Tue Mar 02, 2021 12:33 pm
smitcat wrote: Tue Mar 02, 2021 10:33 am
Wanderingwheelz wrote: Tue Mar 02, 2021 10:17 am
willthrill81 wrote: Tue Mar 02, 2021 9:57 am
Wanderingwheelz wrote: Tue Mar 02, 2021 9:52 am

No. But I think about taking risk off the table just about every single day- especially on days like yesterday when your NW jumps by 1x expenses. If I went to all-cash it would be a very long time before I ran out of money, if I ever did. Someday, when you’ve accumulated enough assets to quit working you’ll probably think those sorts of thoughts too.
I suspect that I might feel that way. But I'm really not sure yet what my investment strategy in retirement will be. I'm currently really aggressive, though I do use a trend following strategy, but I'm thinking that I might split use this approach with only 50% of my portfolio and put the other 50% into something akin to the Golden Butterfly portfolio. Hopefully, I still have over a decade to think about it.

Late last year, I was successful in convincing my retired father to at least move his next two years of anticipated RMDs into short-term bonds. Prior to that, he was 100% stock. Granted, their portfolio is only for 'fun' money since their essential spending is covered by other income sources, but still, I think that at least a small cushion of mostly non-volatile assets is appropriate even for aggressive retirees.
I talk to my dad, but I don’t advise him since he’s done exceptionally well for himself being a Boglehead before me. I think I’m rare being a son of a Boglehead, probably. He’s done so well that even though I don’t count on it I do look at the “inheritance” block on the retirement calculators and am left scratching my head. (I can easily see about $4MM in real estate) When I ask my dad what he thinks I should put in there he just smiles and sort of laughs a Boglehead laugh.

Oh well. They’re all just numbers on a screen someplace.

I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business. That’s a few years off at the earliest and with her there’s just no way to plan anything. She could work for another 20. As long as she’s happy I’m happy. :D
"I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business."
So you are not retired then?
I stopped working at the end of last year. But my household has an earned income that far exceeds our expenses, since my wife’s business is 21 years old and quite profitable. So what I said was my household doesn’t have a retirement strategy as it pertains to investments and withdrawals. We’re still accumulating, with no end in sight.
Excellent income - your not retired.
Wanderingwheelz
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Re: Post your Financial Milestone Announcements Here

Post by Wanderingwheelz »

smitcat wrote: Tue Mar 02, 2021 2:59 pm
Wanderingwheelz wrote: Tue Mar 02, 2021 12:33 pm
smitcat wrote: Tue Mar 02, 2021 10:33 am
Wanderingwheelz wrote: Tue Mar 02, 2021 10:17 am
willthrill81 wrote: Tue Mar 02, 2021 9:57 am

I suspect that I might feel that way. But I'm really not sure yet what my investment strategy in retirement will be. I'm currently really aggressive, though I do use a trend following strategy, but I'm thinking that I might split use this approach with only 50% of my portfolio and put the other 50% into something akin to the Golden Butterfly portfolio. Hopefully, I still have over a decade to think about it.

Late last year, I was successful in convincing my retired father to at least move his next two years of anticipated RMDs into short-term bonds. Prior to that, he was 100% stock. Granted, their portfolio is only for 'fun' money since their essential spending is covered by other income sources, but still, I think that at least a small cushion of mostly non-volatile assets is appropriate even for aggressive retirees.
I talk to my dad, but I don’t advise him since he’s done exceptionally well for himself being a Boglehead before me. I think I’m rare being a son of a Boglehead, probably. He’s done so well that even though I don’t count on it I do look at the “inheritance” block on the retirement calculators and am left scratching my head. (I can easily see about $4MM in real estate) When I ask my dad what he thinks I should put in there he just smiles and sort of laughs a Boglehead laugh.

Oh well. They’re all just numbers on a screen someplace.

I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business. That’s a few years off at the earliest and with her there’s just no way to plan anything. She could work for another 20. As long as she’s happy I’m happy. :D
"I figure I don’t have a retirement strategy until my wife comes to me and tells me she’s really to explore the idea of selling her business."
So you are not retired then?
I stopped working at the end of last year. But my household has an earned income that far exceeds our expenses, since my wife’s business is 21 years old and quite profitable. So what I said was my household doesn’t have a retirement strategy as it pertains to investments and withdrawals. We’re still accumulating, with no end in sight.
Excellent income - your not retired.
I’m a trophy husband. Duh.
Being wrong compounds forever.
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topper1296
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Mortgage free as of today!!

Post by topper1296 »

[Thread merged into here --admin LadyGeek]

Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D

The bank also said they have stopped my future autopayments and I have to call back in a couple days after the final payment is posted to request the letter stating it is paid in full. The bank also told me they will send the funds in my escrow account to me within 20 days. I'll follow up on both items.

I think the next steps are to call my insurance company to notify them and also call the country property tax office about having my property tax bill sent directly to me. I'll also have to follow up with the county to make sure my lien/deed has been released and then receive something in mail from the county stating that (I think), but I don't know how long yet that is supposed to take in TN. Am I missing anything else here?

I know that my credit score that is currently in the 830's will take a hit, but I don't care. :D And tonight I plan on celebrating with an Old Fashioned or two. :beer
MarkRoulo
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Re: Mortgage free as of today!!

Post by MarkRoulo »

topper1296 wrote: Thu Mar 04, 2021 6:29 pm Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D

... snip ...
Congrats!
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JoeRetire
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Re: Mortgage free as of today!!

Post by JoeRetire »

That's a nice feeling.
Congratulations.
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softmax
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Re: Mortgage free as of today!!

Post by softmax »

Noob question: with the current low interest rate, does it make sense to cash out?
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bertilak
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Re: Mortgage free as of today!!

Post by bertilak »

Join the club and I know the feeling. Wait till you see the improvement in your cash flow. Invest whatever you can. Keep a little to make your life just a bit nicer.
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
Emptykeg
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Re: Mortgage free as of today!!

Post by Emptykeg »

I paid off my mortgage a few years ago. To me it’s more exciting paying down debt than investing in the market.
bltn
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Re: Mortgage free as of today!!

Post by bltn »

Debt free is a great place to be.
Congratulations.
Now you can keep making that monthly mortgage payment into your own escrow fund. Yours, to pay taxes, insurance and invest as you wish. At least, that s the way I thought.
nura
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Re: Mortgage free as of today!!

Post by nura »

topper1296 wrote: Thu Mar 04, 2021 6:29 pm Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D
How much is your local property taxes and insurance?
Where I live, it is not uncommon to pay more for taxes than for the principal and interest.
Mortgage free doesn't mean payment free; rather it concentrates risk.
Besides, you will lose your property quicker by missing a tax payment to local authorities than missing mortgage payment to the lender.
I received a tax-sale notice when the lender missed a tax payment during re-fi.

I sleep better if I have market portfolio exceeding the size of mortgage balance and enough in cash or fixed income to cover six months of house payments.
DoubleComma
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Re: Mortgage free as of today!!

Post by DoubleComma »

Congratulations, I know many BHs disagree but we paid off our primary home a year and will never go back to a payment...even at 0% interest.

It’s so much more rewarding to have reduced cash flow needs and see how much more cash you can allocate in another ways.
DoubleComma
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Re: Mortgage free as of today!!

Post by DoubleComma »

nura wrote: Thu Mar 04, 2021 8:01 pm
topper1296 wrote: Thu Mar 04, 2021 6:29 pm Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D
How much is your local property taxes and insurance?
Where I live, it is not uncommon to pay more for taxes than for the principal and interest.
Mortgage free doesn't mean payment free; rather it concentrates risk.
Besides, you will lose your property quicker by missing a tax payment to local authorities than missing mortgage payment to the lender.
I received a tax-sale notice when the lender missed a tax payment during re-fi.

I sleep better if I have market portfolio exceeding the size of mortgage balance and enough in cash or fixed income to cover six months of house payments.
Why not have both, I do. Paid off house and market portfolio that is double the max loan I could potentially take out on all my real estate combined.

I don’t understand this desire to owe someone money; even if you think you can triage the rates and generate a spread.
smitcat
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Re: Mortgage free as of today!!

Post by smitcat »

DoubleComma wrote: Thu Mar 04, 2021 8:07 pm
nura wrote: Thu Mar 04, 2021 8:01 pm
topper1296 wrote: Thu Mar 04, 2021 6:29 pm Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D
How much is your local property taxes and insurance?
Where I live, it is not uncommon to pay more for taxes than for the principal and interest.
Mortgage free doesn't mean payment free; rather it concentrates risk.
Besides, you will lose your property quicker by missing a tax payment to local authorities than missing mortgage payment to the lender.
I received a tax-sale notice when the lender missed a tax payment during re-fi.

I sleep better if I have market portfolio exceeding the size of mortgage balance and enough in cash or fixed income to cover six months of house payments.
Why not have both, I do. Paid off house and market portfolio that is double the max loan I could potentially take out on all my real estate combined.

I don’t understand this desire to owe someone money; even if you think you can triage the rates and generate a spread.
We just follow the math - when it makes sense to have a loan we do, when it doesn't we do not.
Carguy85
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Re: Mortgage free as of today!!

Post by Carguy85 »

Awesome! .... now don’t forget to pay your property taxes! I’ve unfortunately done that twice. I get a notification for spring and fall taxes early in the year and that’s it so super easy to forget to pay fall taxes! I think I’m just going to pay it all at once in the spring.
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Re: Mortgage free as of today!!

Post by willthrill81 »

Congratulations!
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Re: Mortgage free as of today!!

Post by Mlm »

Cheers :sharebeer
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek »

I merged topper1296's thread into the ongoing discussion. The combined thread is in the US Chapters (community) forum.

Congrats! :beer

Make sure you change the loss payee on your homeowners insurance. IOW, remove the mortgage company from the policy.
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moruobai
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Re: Post your Financial Milestone Announcements Here

Post by moruobai »

Today I called my bank and **paid off my mortgage** and am **100% debt free**! I am so happy you guys! This is such a wonderful feeling.

A big THANK YOU to the Bogleheads for rock solid personal finance and investment advice over the years.

:sharebeer
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moruobai
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Re: Mortgage free as of today!!

Post by moruobai »

topper1296 wrote: Thu Mar 04, 2021 6:29 pm I know that my credit score that is currently in the 830's will take a hit, but I don't care. :D
lol, right! Who cares! Don't need it anymore.
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ruralavalon
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Re: Mortgage free as of today!!

Post by ruralavalon »

topper1296 wrote: Thu Mar 04, 2021 6:29 pm Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D
Congratulations on being completely debt free :D .

It's a wonderful feeling, the extra cash flow is liberating.
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Re: Mortgage free as of today!!

Post by Grt2bOutdoors »

topper1296 wrote: Thu Mar 04, 2021 6:29 pm [Thread merged into here --admin LadyGeek]

Today I called my bank to make my last payment on my mortgage and now I am completely debt free. :beer :D
Congratulations! Now redirect the monthly payment into your taxable account and watch the dollars add up quickly!
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jcricket73
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Re: Post your Financial Milestone Announcements Here

Post by jcricket73 »

I was doing some "annual planning" and realized we'd hit $2M across our retirement accounts (IRAs, 401k, Brokerage). $2.5M if you include cash + the 529s, and $4M in net worth incl home equity (VHCOL here in the PNW). That's up from $1M just 4 years ago - and not because of lucky stock picks :)

We've got a long way to go to achieve the kind of retirement we'd want to. We're 48/50 and I estimate we need $10M or so, we still have a big (by BH standards) mortgage, but my hard work/good fortune has finally paid off and the last couple of years of promotions/raises have finally put us a position to crank up the retirement savings, and I think we can add $300k+ per year if we keep this as our "high water mark" for lifestyle.

Look, I'm no genius.I made all kinds of rookie mistakes as a 20-something techie during the dot com boom/bust. At least I was young enough to recover and didn't go bankrupt, etc. I made many other dumb moves along the way, but it's funny how sometimes things work out. Like the house was bought in-between bubbles, so we didn't over-pay (sheer luck from life's timing, not smarts). Mostly just glad we've avoided the worst of the mistakes (actively managed funds, fads, over-concentration, whole life, scams, etc). All that "disaster avoidance" comes from financial advice I read here and from some fee-only advisors in the early 2000s. So thanks!
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Re: Post your Financial Milestone Announcements Here

Post by Normchad »

jcricket73 wrote: Sat Mar 06, 2021 9:51 pm I was doing some "annual planning" and realized we'd hit $2M across our retirement accounts (IRAs, 401k, Brokerage). $2.5M if you include cash + the 529s, and $4M in net worth incl home equity (VHCOL here in the PNW). That's up from $1M just 4 years ago - and not because of lucky stock picks :)

We've got a long way to go to achieve the kind of retirement we'd want to. We're 48/50 and I estimate we need $10M or so, we still have a big (by BH standards) mortgage, but my hard work/good fortune has finally paid off and the last couple of years of promotions/raises have finally put us a position to crank up the retirement savings, and I think we can add $300k+ per year if we keep this as our "high water mark" for lifestyle.

Look, I'm no genius.I made all kinds of rookie mistakes as a 20-something techie during the dot com boom/bust. At least I was young enough to recover and didn't go bankrupt, etc. I made many other dumb moves along the way, but it's funny how sometimes things work out. Like the house was bought in-between bubbles, so we didn't over-pay (sheer luck from life's timing, not smarts). Mostly just glad we've avoided the worst of the mistakes (actively managed funds, fads, over-concentration, whole life, scams, etc). All that "disaster avoidance" comes from financial advice I read here and from some fee-only advisors in the early 2000s. So thanks!
Congratulations! That is wonderful. Trust me, the majority of us on these boards weren't always bogleheads. We have all made rookie mistakes along the way.

Keep going, and all the best!
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Re: Post your Financial Milestone Announcements Here

Post by Mudpuppy »

I was chatting with a co-worker in Zoom the other day, waiting for a meeting to start, when I realized I've reached a small, but important milestone. The co-worker was complaining about how another appliance had broken, and she's having difficulty working around it being broken. She was trying to figure out which credit card she could use to replace the appliance and still be able to afford the minimum payment. She said had she known this one was on its way out, she wouldn't have replaced another appliance of less critical importance that failed last month.

It made me realize that in the last year, I haven't had to bat an eye at replacing my broken microwave or TV, plus I was able to replace my parents' broken laundry machines. I didn't have to budget to replace my tires either. I just replaced them and paid off the credit card at the end of the month. It's truly a freeing, and rather rare milestone in comparison to the average American (probably not rare on Bogleheads though), to be able to weather these unexpected financial expenses straight out of cash reserves without having to play the credit game. I grew up watching my parents play the credit game, and it's a massive source of stress that I don't have in my life.

It's a small milestone, but still one to be acknowledged and celebrated, particularly for the younger Bogleheads like myself that are nowhere near the millionaire's club or paying off their mortgage.
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

Mudpuppy wrote: Sun Mar 07, 2021 4:38 pm It made me realize that in the last year, I haven't had to bat an eye at replacing my broken microwave or TV, plus I was able to replace my parents' broken laundry machines. I didn't have to budget to replace my tires either. I just replaced them and paid off the credit card at the end of the month. It's truly a freeing, and rather rare milestone in comparison to the average American (probably not rare on Bogleheads though), to be able to weather these unexpected financial expenses straight out of cash reserves without having to play the credit game. I grew up watching my parents play the credit game, and it's a massive source of stress that I don't have in my life.

It's a small milestone, but still one to be acknowledged and celebrated, particularly for the younger Bogleheads like myself that are nowhere near the millionaire's club or paying off their mortgage.
Good for you on escaping the “living paycheck to paycheck” treadmill!

That’s a very important step on your journey to financial success. Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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luminous
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Re: Post your Financial Milestone Announcements Here

Post by luminous »

Mudpuppy wrote: Sun Mar 07, 2021 4:38 pm I was chatting with a co-worker in Zoom the other day, waiting for a meeting to start, when I realized I've reached a small, but important milestone. The co-worker was complaining about how another appliance had broken, and she's having difficulty working around it being broken. She was trying to figure out which credit card she could use to replace the appliance and still be able to afford the minimum payment. She said had she known this one was on its way out, she wouldn't have replaced another appliance of less critical importance that failed last month.

It made me realize that in the last year, I haven't had to bat an eye at replacing my broken microwave or TV, plus I was able to replace my parents' broken laundry machines. I didn't have to budget to replace my tires either. I just replaced them and paid off the credit card at the end of the month. It's truly a freeing, and rather rare milestone in comparison to the average American (probably not rare on Bogleheads though), to be able to weather these unexpected financial expenses straight out of cash reserves without having to play the credit game. I grew up watching my parents play the credit game, and it's a massive source of stress that I don't have in my life.

It's a small milestone, but still one to be acknowledged and celebrated, particularly for the younger Bogleheads like myself that are nowhere near the millionaire's club or paying off their mortgage.
What a fantastic milestone! It is this kind of financial freedom that makes life easier to live. Congratulations.
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

Mudpuppy wrote: Sun Mar 07, 2021 4:38 pm I was chatting with a co-worker in Zoom the other day, waiting for a meeting to start, when I realized I've reached a small, but important milestone. The co-worker was complaining about how another appliance had broken, and she's having difficulty working around it being broken. She was trying to figure out which credit card she could use to replace the appliance and still be able to afford the minimum payment. She said had she known this one was on its way out, she wouldn't have replaced another appliance of less critical importance that failed last month.

It made me realize that in the last year, I haven't had to bat an eye at replacing my broken microwave or TV, plus I was able to replace my parents' broken laundry machines. I didn't have to budget to replace my tires either. I just replaced them and paid off the credit card at the end of the month. It's truly a freeing, and rather rare milestone in comparison to the average American (probably not rare on Bogleheads though), to be able to weather these unexpected financial expenses straight out of cash reserves without having to play the credit game. I grew up watching my parents play the credit game, and it's a massive source of stress that I don't have in my life.

It's a small milestone, but still one to be acknowledged and celebrated, particularly for the younger Bogleheads like myself that are nowhere near the millionaire's club or paying off their mortgage.
This is a significant milestone, not a "small milestone".

Congratulations :) .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
AnonJohn
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Re: Post your Financial Milestone Announcements Here

Post by AnonJohn »

I've recently neared or passed one of my approximate milestones. Monthly market fluctuations are now influencing my portfolio more than my monthly income / savings. Imprecise, but a goal I've been savings toward. Feels good and bad. Less "reward" for saving but less pressure on working. Cheers!
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Re: Post your Financial Milestone Announcements Here

Post by gonefishing01 »

This is an arbitrary / nerdy one I’ve been angling at for a while now. I have to share it here because nobody else will know except my wife: today I achieved a Tri-Fecta of $1M+ Taxable, $1M+ 401k, and $1M+ Home Equity. Time for bourbon :beer
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Re: Post your Financial Milestone Announcements Here

Post by jarjarM »

gonefishing01 wrote: Fri Mar 12, 2021 5:58 pm This is an arbitrary / nerdy one I’ve been angling at for a while now. I have to share it here because nobody else will know except my wife: today I achieved a Tri-Fecta of $1M+ Taxable, $1M+ 401k, and $1M+ Home Equity. Time for bourbon :beer
Congratulation! That's an amazing achievement :beer
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Re: Post your Financial Milestone Announcements Here

Post by netrammgc »

Bittersweet milestone. Realized today I have enough savings to pay off the rest of my government student loans ($30,000), all the while keeping an adequate emergency fund.

But, due to politics, I'm not sure if now is the right time. They are federal graduate loans (Stafford and Grad Plus). As there is talk of forgiveness and interest is on hold, I'm in a holding pattern.

Besides my 15y mortgage (20% down), that was the last of the debt.
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

netrammgc wrote: Fri Mar 12, 2021 11:36 pm Bittersweet milestone. Realized today I have enough savings to pay off the rest of my government student loans ($30,000), all the while keeping an adequate emergency fund.

But, due to politics, I'm not sure if now is the right time. They are federal graduate loans (Stafford and Grad Plus). As there is talk of forgiveness and interest is on hold, I'm in a holding pattern.

Besides my 15y mortgage (20% down), that was the last of the debt.
Congratulations!

I wouldn't say that's a bittersweet milestone; rather, it's an awesome milestone. One of the wonderful things about accumulating wealth is that it gives you options and choices that you can make.

In your case, it makes sense to hold off for now on pulling the trigger on paying off your student loans. However, it's great to have the option (and the funds) to be able to pay them off at a time that you choose.

Once again, congratulations on your achievement.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

netrammgc wrote: Fri Mar 12, 2021 11:36 pm Bittersweet milestone. Realized today I have enough savings to pay off the rest of my government student loans ($30,000), all the while keeping an adequate emergency fund.

But, due to politics, I'm not sure if now is the right time. They are federal graduate loans (Stafford and Grad Plus). As there is talk of forgiveness and interest is on hold, I'm in a holding pattern.

Besides my 15y mortgage (20% down), that was the last of the debt.
Congratulations :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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Re: Post your Financial Milestone Announcements Here

Post by Mudpuppy »

netrammgc wrote: Fri Mar 12, 2021 11:36 pm Bittersweet milestone. Realized today I have enough savings to pay off the rest of my government student loans ($30,000), all the while keeping an adequate emergency fund.

But, due to politics, I'm not sure if now is the right time. They are federal graduate loans (Stafford and Grad Plus). As there is talk of forgiveness and interest is on hold, I'm in a holding pattern.

Besides my 15y mortgage (20% down), that was the last of the debt.
There's no harm in staying on a holding pattern for this, since federal student loans are currently at 0% interest. You can wait to see what pans out before making the decision. Just keep the money in a relatively safe account, such as high yield savings.

If there's forgiveness, great. You can figure out how to invest the money at that point. If there is not forgiveness, then you're no worse off 6 months from now than you are now.
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Re: Post your Financial Milestone Announcements Here

Post by manatee2005 »

Normchad wrote: Sat Mar 06, 2021 10:09 pm
jcricket73 wrote: Sat Mar 06, 2021 9:51 pm I was doing some "annual planning" and realized we'd hit $2M across our retirement accounts (IRAs, 401k, Brokerage). $2.5M if you include cash + the 529s, and $4M in net worth incl home equity (VHCOL here in the PNW). That's up from $1M just 4 years ago - and not because of lucky stock picks :)

We've got a long way to go to achieve the kind of retirement we'd want to. We're 48/50 and I estimate we need $10M or so, we still have a big (by BH standards) mortgage, but my hard work/good fortune has finally paid off and the last couple of years of promotions/raises have finally put us a position to crank up the retirement savings, and I think we can add $300k+ per year if we keep this as our "high water mark" for lifestyle.

Look, I'm no genius.I made all kinds of rookie mistakes as a 20-something techie during the dot com boom/bust. At least I was young enough to recover and didn't go bankrupt, etc. I made many other dumb moves along the way, but it's funny how sometimes things work out. Like the house was bought in-between bubbles, so we didn't over-pay (sheer luck from life's timing, not smarts). Mostly just glad we've avoided the worst of the mistakes (actively managed funds, fads, over-concentration, whole life, scams, etc). All that "disaster avoidance" comes from financial advice I read here and from some fee-only advisors in the early 2000s. So thanks!
Congratulations! That is wonderful. Trust me, the majority of us on these boards weren't always bogleheads. We have all made rookie mistakes along the way.

Keep going, and all the best!
Yes, I can’t tell how much time I spent searching for the best performing fund and being stuck with analysis paralysis or panic selling when the market drops. Invest in total market funds and stay the course seems so obvious know but it took me a while to find Bogleheads and learn it.

I probably would have sold on March 18 2020 and still be in cash if I didn’t follow this website.
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Re: Post your Financial Milestone Announcements Here

Post by Mudpuppy »

manatee2005 wrote: Sat Mar 13, 2021 1:47 pm
Normchad wrote: Sat Mar 06, 2021 10:09 pm
jcricket73 wrote: Sat Mar 06, 2021 9:51 pm Look, I'm no genius.I made all kinds of rookie mistakes as a 20-something techie during the dot com boom/bust. At least I was young enough to recover and didn't go bankrupt, etc. I made many other dumb moves along the way, but it's funny how sometimes things work out. Like the house was bought in-between bubbles, so we didn't over-pay (sheer luck from life's timing, not smarts). Mostly just glad we've avoided the worst of the mistakes (actively managed funds, fads, over-concentration, whole life, scams, etc). All that "disaster avoidance" comes from financial advice I read here and from some fee-only advisors in the early 2000s. So thanks!
Congratulations! That is wonderful. Trust me, the majority of us on these boards weren't always bogleheads. We have all made rookie mistakes along the way.

Keep going, and all the best!
Yes, I can’t tell how much time I spent searching for the best performing fund and being stuck with analysis paralysis or panic selling when the market drops. Invest in total market funds and stay the course seems so obvious know but it took me a while to find Bogleheads and learn it.

I probably would have sold on March 18 2020 and still be in cash if I didn’t follow this website.
In my case, my young financial mistake was listening to my boss and mentor during the 2000's housing boom. His sister was a realtor, so he was always on about how prices were rising and "get in now" before getting "priced out". As a result, I bought my house in early 2007, when the bubble was starting to burst for sure, but still on the high end. I was very "house poor" for most of my time as a junior member of my agency, watching my house get to over 200% loan-to-value ratio at the peak of the bust.

However, I was fortunate to be in a Fannie Mae mortgage product, so I was able to use HARP to lock in a lower interest rate and switch to a 20-year mortgage during the peak of the bust. That saved over $150k in interest for the remaining life of the loan and it took a lot of the financial pressure off. As a result of the HARP refi and the recovering housing market, I was actually able to build up equity. I have no idea what to do with equity now, but I do have it.

And that did teach me a valuable lesson about not listening to others, so I was able to tune out another co-worker during the last couple of financial downturns. I also try to balance that co-worker by providing a contrary and cautioning voice to our group, e.g. warning them at the start of the pandemic that the state budget forecasts looked grim, so prepare for furloughs, which turned out to be pretty spot-on when the governor issued the revised budget.
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Re: Post your Financial Milestone Announcements Here

Post by Jwulgaru »

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LateStarter1975
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Re: Mortgage free as of today!!

Post by LateStarter1975 »

Emptykeg wrote: Thu Mar 04, 2021 6:54 pm I paid off my mortgage a few years ago. To me it’s more exciting paying down debt than investing in the market.
Congratulations are in order! After reading "The Psychology of Money" by Morgan Housel, I know we made the right decision when we paid off our home 2 years ago. I still find it refreshingly exciting that we are 100% debt free more than I find it exciting reaching the 2 comma club in investments 2 months ago. Behavioral finance is very interesting...
Debt is dangerous...simple is beautiful
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