Boglehead Debt Free Scream! 174K in 53 months

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RmeHyd8tion11
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Boglehead Debt Free Scream! 174K in 53 months

Post by RmeHyd8tion11 » Mon May 08, 2017 8:58 pm

WE'RE DEBT FREE!!!

DW and I just finished paying off $174K in student loan, credit card and a career starter loan in 53 months making between 96k and 116k!

With interest, we paid $224K toward the debt along with Non-Dave Ramsey-type activities like buying a $14k used car, earning the Chase Sapphire Reserve point bonus and contributing towards our TSP, 401Ks and Roth IRAs. The amount of debt wasn't fun to overcome but I think we've developed some great habits and I'm ready to start saving for a trip to Australia and New Zealand or Bali in December :beer

Go Army! Beat Navy!!

MikeG62
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by MikeG62 » Mon May 08, 2017 9:00 pm

Congratulations. Well done and impressive.

KeepItSimple78
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by KeepItSimple78 » Mon May 08, 2017 9:05 pm

Well done, I can identify with the feeling. You've set you and your family on a course for long-term success. Enjoy the vacation.
Avid reader of personal finance/investing literature; however, no formal training in this area. My comments are always well-intended, and most often well-informed.

Derby
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Derby » Mon May 08, 2017 9:16 pm

That's impressive. Congratulations! Keep it up and you'll be financially independent in no time!
Carpe Diem.

rosylenm
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by rosylenm » Mon May 08, 2017 10:38 pm

Congratulations!

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Tyrobi
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Tyrobi » Mon May 08, 2017 10:51 pm

Very nice, congrats!
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WallStreetPhysician
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by WallStreetPhysician » Tue May 09, 2017 7:31 am

RmeHyd8tion11 wrote:WE'RE DEBT FREE!!!

DW and I just finished paying off $174K in student loan, credit card and a career starter loan in 53 months making between 96k and 116k!

With interest, we paid $224K toward the debt along with Non-Dave Ramsey-type activities like buying a $14k used car, earning the Chase Sapphire Reserve point bonus and contributing towards our TSP, 401Ks and Roth IRAs. The amount of debt wasn't fun to overcome but I think we've developed some great habits and I'm ready to start saving for a trip to Australia and New Zealand or Bali in December :beer

Go Army! Beat Navy!!
Congratulations! Well-done.

Call_Me_Op
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Call_Me_Op » Tue May 09, 2017 11:15 am

Congratulations - although I do take issue with Dave Ramsey's debt-free screams. They always wake me after I dose-off during the first half of his show.
Best regards, -Op | | "In the middle of difficulty lies opportunity." Einstein

btenny
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by btenny » Tue May 09, 2017 11:31 am

Very good. Enjoy your new found freedom... Good Luck.

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inthearena
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by inthearena » Tue May 09, 2017 11:37 am

RmeHyd8tion11 wrote:WE'RE DEBT FREE!!!
+++++1
"Whatever you do in life, surround yourself with smart people who'll argue with you." | -John Wooden

Grt2bOutdoors
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Grt2bOutdoors » Tue May 09, 2017 11:44 am

Great job. Now, take the money you were allocating to debt and put it all into a taxable account holding Total Stock Market Index, Total International Stock and your choice of fixed income account. In 53 months, I expect to see the balance in that account to be higher than 174K. :wink:
At Bogleheads, there is no rest for the weary. Keep chugging!
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just frank
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by just frank » Tue May 09, 2017 8:12 pm

w00t!

Lobster
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Lobster » Tue May 09, 2017 8:29 pm

Call_Me_Op wrote:Congratulations - although I do take issue with Dave Ramsey's debt-free screams. They always wake me after I dose-off during the first half of his show.
This made me laugh :D
Submit to the relentless rules of humble arithmetic and avoid the tyranny of compounding costs.

gundlached
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by gundlached » Tue May 09, 2017 8:31 pm

I love it I love it I love it

But now the real fun begins

Broken Man 1999
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Broken Man 1999 » Wed May 10, 2017 8:21 am

Great job! :sharebeer

You will find it much more satisfying putting your money in your own accounts, instead of those who held your debt.

I hope you treated yourselves to a nice dinner/outing, as you certainly have worked hard. Looks like you are planning to do some traveling. Good!

Don't forget there is nothing wrong with stopping occasionally to smell the roses. Life is more than just building a retirement account.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

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djpeteski
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by djpeteski » Wed May 10, 2017 8:37 am

Good work!

Now compounding interest can work for you instead of against you.

Enjoy your celebration.

:moneybag

BW1985
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by BW1985 » Wed May 10, 2017 8:45 am

That was a lot of debt! Congratulations!! :sharebeer
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

Mr.BB
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Mr.BB » Wed May 10, 2017 8:46 am

RmeHyd8tion11 wrote:WE'RE DEBT FREE!!!

DW and I just finished paying off $174K in student loan, credit card and a career starter loan in 53 months making between 96k and 116k!

With interest, we paid $224K toward the debt along with Non-Dave Ramsey-type activities like buying a $14k used car, earning the Chase Sapphire Reserve point bonus and contributing towards our TSP, 401Ks and Roth IRAs. The amount of debt wasn't fun to overcome but I think we've developed some great habits and I'm ready to start saving for a trip to Australia and New Zealand or Bali in December :beer

Go Army! Beat Navy!!
+1 High Five!
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

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Edie
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Edie » Wed May 10, 2017 9:04 am

Congratulations. That is an impressive feat! Enjoy your well-deserved vacation.

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High Income Parent
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by High Income Parent » Wed May 10, 2017 9:23 am

:sharebeer

Now start rolling those payments into equities!
Children are not a distraction from more important work. They are the most important work. | | C. S. Lewis

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JupiterJones
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by JupiterJones » Wed May 10, 2017 3:40 pm

< cue swelling "Braveheart" music >

FREEEEEEDOOOOOOOM!!!!!!!

:sharebeer
Stay on target...

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knpstr
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by knpstr » Wed May 10, 2017 3:46 pm

WAY TO GO!! Congrats!
:beer
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius

PlayingLife
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by PlayingLife » Thu May 11, 2017 6:11 am

Congratulations!!!

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Hub
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Hub » Thu May 11, 2017 1:58 pm

Nice work! And wisely you're already in the right place for your next step where you start investing. Please ignore Dave on this front :).

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Elsebet
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Re: Boglehead Debt Free Scream! 174K in 53 months

Post by Elsebet » Thu May 11, 2017 3:03 pm

Great job. :)

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