Topic: How much debt do yuo fuckers have?
Posted by .
Unregistered


Me: about $34K left on one of 3 properties I own or partially own. Total net worf of $1.7M, give or take $50 large. Still feel fucking poor, maybe middleclass at best.


Posted by .
Unregistered


If you have 1.7m, why dont you pay off your debt?


Posted by teapots.nli
Unregistered


None.  I'm like the millenial FIRE twinks, except older and more realistic.


Posted by .
Unregistered


Cause its a 2.88% 15 year fixed and i am making an annual 30% return with the $35K that i could use to pay it off. Even calculating the total interest payments that i would save, my projections show im much better off keeping the cash working for me. Also in full candor, not all of that $1,7 is liquid, obviously. Much of it is tied up in the RE and other long term investments.


Posted by .
Unregistered


. said: Cause its a 2.88% 15 year fixed and i am making an annual 30% return with the $35K that i could use to pay it off. Even calculating the total interest payments that i would save, my projections show im much better off keeping the cash working for me. Also in full candor, not all of that $1,7 is liquid, obviously. Much of it is tied up in the RE and other long term investments.

­$1.7 m isn’t exactly blowjobs from supermodels on yots money, is it.


Posted by .
Unregistered


Do most people really consider a mortgage real debt? If you can zero out all your cards at the end of the month, your doing better than most


Posted by .
Unregistered


And to answer your question, none, outside of real estate holdings


Posted by .
Unregistered


. said: Do most people really consider a mortgage real debt?  If you can zero out all your cards at the end of the month, your doing better than most

­
if the property is worth more than your debt then no, it is not real debt like a credit card or student loan.


Me, I owe about 40K on my car and credit cards.  I should be debt free in under 2 years if nothing bad happens.


Posted by Duckford.nli
Unregistered


NO debt of any kind.  I may have a low income, but my cheap lifestyle and other parts of my situation make sure I can get by and buy a few nice things without welfare or borrowing money.


Posted by teapots.nli
Unregistered


Duckford.nli said: NO debt of any kind.  I may have a low income, but my cheap lifestyle and other parts of my situation make sure I can get by and buy a few nice things without welfare or borrowing money.

:thumbup:  You are wealthy.


Posted by .
Unregistered


400K debt (Principal residence)
2.3M assets

Feel poor and drive  a paid off Prius but friends with much less Assets splurge on 100K Tesla X's :lol:


Posted by .
Unregistered


Duckford.nli said: NO debt of any kind.  I may have a low income, but my cheap lifestyle and other parts of my situation make sure I can get by and buy a few nice things without welfare or borrowing money.

:thumbup:


Posted by .Heterosexual Hal
Unregistered


. said: Do most people really consider a mortgage real debt?  If you can zero out all your cards at the end of the month, your doing better than most

­
I would consider the mortgage real debt because you will always need a place to live, so at some point you have to pay off the mortgage.


Posted by .
Unregistered


.Heterosexual Hal said:
. said: Do most people really consider a mortgage real debt?  If you can zero out all your cards at the end of the month, your doing better than most

­
I would consider the mortgage real debt because you will always need a place to live, so at some point you have to pay off the mortgage.

You are always going to have housing costs unless you are dead or in jail.  Always.  Even if your house is paid for (although they might be relatively low if white plastic chair on roof) you will have housing costs.  rent or mortgage or taxes or maintenance or whatever.

So budget housing costs.  How much you can budget dictates the type of housing situation you can realistically expect.  Too many people, almost everybody, fuck this up in one way or another and of course the game is also rigged against ordinary people.


Posted by Katalyst
Agent Provocateur


Zero.


Posted by .
Unregistered


About $215k, just mortgage debt.


Posted by .
Unregistered


I have zero debt and I have never been in debt either and I'm halfway in my 30's... Pro tip: Don't have kids and keep it simple. :lol:


Posted by .
Unregistered


Katalyst said: Zero.

­As someone who will never own real estate or a vehicle, what debt could you have?


Posted by .
Unregistered


How are you making 30%?


Posted by .
Unregistered


. said: How are you making 30%?

­
He can't. He is lying about making 30%.


Posted by .
Unregistered


. said:
­
He can't. He is lying about making 30%.

This.

Knew OP was a troll when he claimed a $1.7 million net worth but couldn't pay off $34K in debt.


Posted by .
Unregistered


I've got $2.83mm assets, and $304k debt of which almost all a 2.93% mortgage on a $1.1 million or so house.

so ~2.5mm net worth.

just quit my ebiz job at the company co-founded (carried at zero), taking time off to cook, re-learn modern coding shit, and take care of the kids.

The ebiz stock could be worth $0 to $10mm I would bet $2.5mm but not carried on the books yet


Posted by Katalyst
Agent Provocateur


. said:
­As someone who will never own real estate or a vehicle, what debt could you have?

­
I own both.


Posted by .
Unregistered


Real estate :LOL:


Posted by .
Unregistered


. said: Do most people really consider a mortgage real debt? If you can zero out all your cards at the end of the month, your doing better than most

­it is debt, for sure but you could consider it “good debt” as long as your home increases in value and you build equity.

Also, if you do pay it off early, you’re really just paying yourself. Moving money from one of your pots to another pot - like from your liquid bank account to your now fully owned home . It’s not like paying off some huge medical bill or credit card. You now have full equity in your home. It does make you less diversified, and you won’t have that liquid cash for other opportunities but you will lock in hundreds of thousands of dollars in savings on the interest , given a typical $250K 30yr fixed 3.xx % mortgage. There are pros and cons to everything.



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