Post your Financial Milestone Announcements Here

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Investing.Newbie
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Re: Post your Financial Milestone Announcements Here

Post by Investing.Newbie » Mon May 14, 2018 3:26 pm

coupleofcents wrote:
Mon May 14, 2018 3:10 pm
Can you share more details like when you started to save & how much you save on average ?
Thanks !
I've done about 40K in savings per year for the last few years. We didn't start aggressively saving until about 2012 were we have always saved 20K or more per year. Before 2012 we had some years of no savings, and some years of 5-10K. But we paid off all student loans 2 years after graduating in 2007.

We also got lucky/strategic and made about $180K in 2015 on on first home by selling after 3 years and moving to a lower cost state. And then the bull market has really helped too.

Just keep at it and eventually you'll see the results:)
Thanks for the info. Good advice :happy

Accrual
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Re: Post your Financial Milestone Announcements Here

Post by Accrual » Sun May 20, 2018 9:07 am

With Friday's paycheck I crossed over $100k. $70k in retirement accounts and $30k in savings (emergency fund + house down payment). Age 27.

I am very grateful for finding this website. Thanks to all who post :sharebeer

coupleofcents
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Re: Post your Financial Milestone Announcements Here

Post by coupleofcents » Tue May 22, 2018 2:45 pm

Accrual wrote:
Sun May 20, 2018 9:07 am
With Friday's paycheck I crossed over $100k. $70k in retirement accounts and $30k in savings (emergency fund + house down payment). Age 27.

I am very grateful for finding this website. Thanks to all who post :sharebeer
Keep up the good work Accrual!

Broken Man 1999
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Re: Post your Financial Milestone Announcements Here

Post by Broken Man 1999 » Tue May 22, 2018 4:50 pm

Accrual wrote:
Sun May 20, 2018 9:07 am
With Friday's paycheck I crossed over $100k. $70k in retirement accounts and $30k in savings (emergency fund + house down payment). Age 27.

I am very grateful for finding this website. Thanks to all who post :sharebeer
That is a pretty darn good start for someone of your age! I can honestly say I didn't have a $100K retirement account at age 27.

Continue what you are doing! :thumbsup :thumbsup

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

vickyychen
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Re: Post your Financial Milestone Announcements Here

Post by vickyychen » Tue May 22, 2018 8:27 pm

deleted
Last edited by vickyychen on Wed May 23, 2018 4:04 pm, edited 1 time in total.

Investing.Newbie
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Joined: Wed Oct 11, 2017 1:23 pm

Re: Post your Financial Milestone Announcements Here

Post by Investing.Newbie » Wed May 23, 2018 1:41 pm

Accrual wrote:
Sun May 20, 2018 9:07 am
With Friday's paycheck I crossed over $100k. $70k in retirement accounts and $30k in savings (emergency fund + house down payment). Age 27.

I am very grateful for finding this website. Thanks to all who post :sharebeer
That's great Accural :sharebeer Rule of 72 should also help you out nicely :D

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onthecusp
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Re: Post your Financial Milestone Announcements Here

Post by onthecusp » Wed May 23, 2018 3:28 pm

Two commas in the retirement accounts about two weeks ago. Still saving strong. :D

RadAudit
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Re: Post your Financial Milestone Announcements Here

Post by RadAudit » Wed May 23, 2018 3:37 pm

Going on 9 years in retirement and still solvent! :D

Looks as if the Trinity studies and SWRs are working, so far.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The calvary isn't coming, kids. You are on your own.

Investing.Newbie
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Joined: Wed Oct 11, 2017 1:23 pm

Re: Post your Financial Milestone Announcements Here

Post by Investing.Newbie » Wed May 23, 2018 3:54 pm

onthecusp wrote:
Wed May 23, 2018 3:28 pm
Two commas in the retirement accounts about two weeks ago. Still saving strong. :D
Great job onthecusp :sharebeer can you share some insights like when you started to save & how much you save on average ?
Thanks !

Silverado
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Joined: Fri Oct 18, 2013 6:07 pm

Re: Post your Financial Milestone Announcements Here

Post by Silverado » Wed May 23, 2018 4:37 pm

Broken Man 1999 wrote:
Tue May 22, 2018 4:50 pm
Accrual wrote:
Sun May 20, 2018 9:07 am
With Friday's paycheck I crossed over $100k. $70k in retirement accounts and $30k in savings (emergency fund + house down payment). Age 27.

I am very grateful for finding this website. Thanks to all who post :sharebeer
That is a pretty darn good start for someone of your age! I can honestly say I didn't have a $100K retirement account at age 27.

Continue what you are doing! :thumbsup :thumbsup

Broken Man 1999
Yeah for sure. Please check back in regularly and let us know how you are doing. Keep it steady and you will be back with a two comma post before you know.

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bligh
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Re: Post your Financial Milestone Announcements Here

Post by bligh » Wed May 23, 2018 4:39 pm

RadAudit wrote:
Wed May 23, 2018 3:37 pm
Going on 9 years in retirement and still solvent! :D

Looks as if the Trinity studies and SWRs are working, so far.
Nice! You picked a great time to retire.. right at the start of a bull run. :sharebeer

RadAudit
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Re: Post your Financial Milestone Announcements Here

Post by RadAudit » Wed May 23, 2018 9:02 pm

bligh wrote:
Wed May 23, 2018 4:39 pm
RadAudit wrote:
Wed May 23, 2018 3:37 pm
Going on 9 years in retirement and still solvent! :D

Looks as if the Trinity studies and SWRs are working, so far.
Nice! You picked a great time to retire.. right at the start of a bull run. :sharebeer

Thanks. I wish I could claim that I knew that in advance. But, no such luck or insight. I just figured I had enough money and it was time to go.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The calvary isn't coming, kids. You are on your own.

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onthecusp
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Re: Post your Financial Milestone Announcements Here

Post by onthecusp » Thu May 24, 2018 10:14 am

Investing.Newbie wrote:
Wed May 23, 2018 3:54 pm
onthecusp wrote:
Wed May 23, 2018 3:28 pm
Two commas in the retirement accounts about two weeks ago. Still saving strong. :D
Great job onthecusp :sharebeer can you share some insights like when you started to save & how much you save on average ?
Thanks !
Thanks Newbie, I appreciate it. My story is not very Bogleheadish until recently. As I contemplate retirement within a year or so it is not the super early retirement I contemplated years ago. Consistent employment and aggressive savings are my "secrets". I would have been much better off had I added low cost index investing much earlier. I'm counting on that secret to make retirement income less of a mystery than it seemed to be before. The recent run up has helped a bunch as well.

Plus side:
Started 401k saving shortly out of college. Only been out of that mode for short periods in job transitions. Moved to max contributions after about 5 years.
Got debt under control in my 40s and 50s. It was never crazy high, but never was comfortable. Only have a mortgage now.
Been fairly consistently employed and made modest moves up by a combination of trying out supervision/management but ultimately through specialization. Been very aggressively saving (adding after tax saving) for less than 10 years.
Now I'm super aggressive in saving and along with good company contributions we are saving around half of total compensation in accounts other than emergency funds.
Consolidated accounts with Fidelity and put my core assets in low cost index funds. Started buying bond funds!

Minus side (I've made many mistakes until about 10 years ago and didn't really understand / embrace Boglehead investing until about 3 years ago):
I seem to recall my early investments being mostly money market or managed growth funds.
Took a 401k loan for debt consolidation, maybe not such a big penalty as my investments were poor.
Allowed student loan and car purchase debt to spiral up when the kids were in HS and through college.
Took a pension plan cash out, put it in an IRA and traded most of it away with bad strategy, concentration in sure thing etc.
Took similar losses with a 401k brokerage account.
Last job's 401k was with Ameriprise. I ignored it (as a mental compensation for my poor trading experiences) other than funding it so at least my contributions survived. There was not good growth until the move to Fidelity / Index funds.
Owned 3 boats, now they are gone. Only the first was good value as I lived on a lake at the time and could use it a lot.
I'm still over invested in company stock obtained through ownership plans and company contributions.

In edit, just wanted to add that investing is a life long process with ups and downs. Nothing is guaranteed or forever and all sorts of setbacks can be overcome or compensated for with changing expectations.

HoleInTheAir
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Re: Post your Financial Milestone Announcements Here

Post by HoleInTheAir » Thu May 24, 2018 10:38 am

My wife and I hit $200,000 in investments this week at 26(Him)/27(Her).
No debt, but also renting, so will have to cool off retirement savings a bit to get a house down payment fund started to get the 20% down to avoid PMI.

Kimota
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Re: Post your Financial Milestone Announcements Here

Post by Kimota » Thu May 24, 2018 10:51 am

From 'Ameriprise Anger" to 500k

Hey All -

First time poster, long time lurker.

Just wanted to say THANK YOU ALL. Just crested 500k this morning in my retirement funds + my EF. I was with Ameriprise for a long time and didn't really believe in investing b/c all I saw was little movement on my accounts. Then my company was acquired, and I have been getting a nice upside for the last 4 years in RSUs. When that money started rolling in, I had my Ameriprise FA invest it for me... and POOF!... a huge chunk of it was eaten up by fees. Nothing motivates more than anger, and thus I found this forum, this philosophy and this community.

When I switched everything to Vanguard, my Ameriprise FA told me they had fees too. That gave me a belly laugh. Now I have my IPS, my three funds, and my AA all working very well for me. I'm doing Backdoor Roths and I even started using my HSA last year as an additional savings vehicle. All of this is because of the resources found here.

So, let me say again: THANK YOU, THANK YOU, THANK YOU!

PS: I put a shortcut on my iPhone for this forum and whenever I feel the urge to waste time on Facebook etc., I go here and read, read, read. So this first post is a long time coming, but wanted to hit a good milestone first.

PPS: Will be interesting to see how long it takes me to hit the two comma club! :D

Onward!

Investing.Newbie
Posts: 50
Joined: Wed Oct 11, 2017 1:23 pm

Re: Post your Financial Milestone Announcements Here

Post by Investing.Newbie » Thu May 24, 2018 11:30 am

onthecusp wrote:
Thu May 24, 2018 10:14 am
Investing.Newbie wrote:
Wed May 23, 2018 3:54 pm
onthecusp wrote:
Wed May 23, 2018 3:28 pm
Two commas in the retirement accounts about two weeks ago. Still saving strong. :D
Great job onthecusp :sharebeer can you share some insights like when you started to save & how much you save on average ?
Thanks !
Thanks Newbie, I appreciate it. My story is not very Bogleheadish until recently. As I contemplate retirement within a year or so it is not the super early retirement I contemplated years ago. Consistent employment and aggressive savings are my "secrets". I would have been much better off had I added low cost index investing much earlier. I'm counting on that secret to make retirement income less of a mystery than it seemed to be before. The recent run up has helped a bunch as well.

Plus side:
Started 401k saving shortly out of college. Only been out of that mode for short periods in job transitions. Moved to max contributions after about 5 years.
Got debt under control in my 40s and 50s. It was never crazy high, but never was comfortable. Only have a mortgage now.
Been fairly consistently employed and made modest moves up by a combination of trying out supervision/management but ultimately through specialization. Been very aggressively saving (adding after tax saving) for less than 10 years.
Now I'm super aggressive in saving and along with good company contributions we are saving around half of total compensation in accounts other than emergency funds.
Consolidated accounts with Fidelity and put my core assets in low cost index funds. Started buying bond funds!

Minus side (I've made many mistakes until about 10 years ago and didn't really understand / embrace Boglehead investing until about 3 years ago):
I seem to recall my early investments being mostly money market or managed growth funds.
Took a 401k loan for debt consolidation, maybe not such a big penalty as my investments were poor.
Allowed student loan and car purchase debt to spiral up when the kids were in HS and through college.
Took a pension plan cash out, put it in an IRA and traded most of it away with bad strategy, concentration in sure thing etc.
Took similar losses with a 401k brokerage account.
Last job's 401k was with Ameriprise. I ignored it (as a mental compensation for my poor trading experiences) other than funding it so at least my contributions survived. There was not good growth until the move to Fidelity / Index funds.
Owned 3 boats, now they are gone. Only the first was good value as I lived on a lake at the time and could use it a lot.
I'm still over invested in company stock obtained through ownership plans and company contributions.

In edit, just wanted to add that investing is a life long process with ups and downs. Nothing is guaranteed or forever and all sorts of setbacks can be overcome or compensated for with changing expectations.
Thanks for sharing your experience onthecusp !

LiterallyIronic
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Re: Post your Financial Milestone Announcements Here

Post by LiterallyIronic » Mon Jun 04, 2018 9:33 am

We just hit 10% of our retirement goal! I'm 34, but I've only been out of school for a year-and-a-half. Looking forward to the next 10% being easier than the first. :D

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sun Jun 10, 2018 6:33 am

New member hsd has a question which I've moved into a new thread: [Net worth in retirement: How do you know when "enough is enough"?]

Sandtrap - You are mentioned in the post.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

goblue100
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Re: Post your Financial Milestone Announcements Here

Post by goblue100 » Sun Jun 10, 2018 8:01 am

LiterallyIronic wrote:
Mon Jun 04, 2018 9:33 am
We just hit 10% of our retirement goal! I'm 34, but I've only been out of school for a year-and-a-half. Looking forward to the next 10% being easier than the first. :D
I like your handle!
Due to compounding, it should be. However, I do recall some big setbacks (2001, 2008) and having to regain lost ground when it didn't seem like the next X amount was easy. Just remember to stay the course during the tough times and to buy those assets on sale.

Congrats.
Financial planners are savers. They want us to be 95 percent confident we can finance a 30-year retirement even though there is an 82 percent probability of being dead by then. - Scott Burns

letsgobobby
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Re: Post your Financial Milestone Announcements Here

Post by letsgobobby » Sun Jun 10, 2018 9:35 am

Kimota wrote:
Thu May 24, 2018 10:51 am
From 'Ameriprise Anger" to 500k

Hey All -

First time poster, long time lurker.

Just wanted to say THANK YOU ALL. Just crested 500k this morning in my retirement funds + my EF. I was with Ameriprise for a long time and didn't really believe in investing b/c all I saw was little movement on my accounts. Then my company was acquired, and I have been getting a nice upside for the last 4 years in RSUs. When that money started rolling in, I had my Ameriprise FA invest it for me... and POOF!... a huge chunk of it was eaten up by fees. Nothing motivates more than anger, and thus I found this forum, this philosophy and this community.

When I switched everything to Vanguard, my Ameriprise FA told me they had fees too. That gave me a belly laugh. Now I have my IPS, my three funds, and my AA all working very well for me. I'm doing Backdoor Roths and I even started using my HSA last year as an additional savings vehicle. All of this is because of the resources found here.

So, let me say again: THANK YOU, THANK YOU, THANK YOU!

PS: I put a shortcut on my iPhone for this forum and whenever I feel the urge to waste time on Facebook etc., I go here and read, read, read. So this first post is a long time coming, but wanted to hit a good milestone first.

PPS: Will be interesting to see how long it takes me to hit the two comma club! :D

Onward!
Welcome! Thanks for posting and congratulations on your decision to leave Ameriprise and your success so far.

eer_no_evil
Posts: 16
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Re: Post your Financial Milestone Announcements Here

Post by eer_no_evil » Mon Jun 11, 2018 10:06 pm

Good evening all,

I’ve followed this thread for several months and am very grateful and humbled to be able to add my own milestone. I just 500k networth- reflecting on the road, it’s been a crazy year; I negotiated a severance, started a new job, am re-learning how to be single, trying to prioritize time with friends and live a healthy lifestyle to attempt to age gracefully lol. It’s been a very interesting year- Cheers to what 31 has in store.

thanks to everyone for the questions, advice and musings- I’ve learned so much and the boglehead family keeps me motivated. On to the next one!

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onthecusp
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Re: Post your Financial Milestone Announcements Here

Post by onthecusp » Tue Jun 12, 2018 1:31 pm

eer_no_evil wrote:
Mon Jun 11, 2018 10:06 pm
Good evening all,

I’ve followed this thread for several months and am very grateful and humbled to be able to add my own milestone. I just 500k networth- reflecting on the road, it’s been a crazy year; I negotiated a severance, started a new job, am re-learning how to be single, trying to prioritize time with friends and live a healthy lifestyle to attempt to age gracefully lol. It’s been a very interesting year- Cheers to what 31 has in store.

thanks to everyone for the questions, advice and musings- I’ve learned so much and the boglehead family keeps me motivated. On to the next one!
That's a great milestone! Keep it up.

ALinLI
Posts: 102
Joined: Thu Jun 02, 2011 9:04 am

Re: I did it and feel great about it (paid off mortgage)

Post by ALinLI » Wed Jun 20, 2018 5:24 pm

[Posts moved into here from I did it and feel great about it (paid off mortgage) --admin LadyGeek]

Paid off mortgage today. Feel great , proud of our accomplishment at one time the debt seemed like a big mountain but no more today. Many thanks to all the learnings i got about saving and investing from all the wise members sharing their knowledge and experience on this site. Discipline , hard work and some luck good career choice . Any way feel great today no one else to share this financial milesetones with except DW . Going out for drinks and sushi to celebrate then on to the next goals like college early retirement and savings for a rainy day. Must keep working hard at 46 just got much closer to FI. :D

FireHorse
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Re: I did it and feel great about it (paid off mortgage)

Post by FireHorse » Wed Jun 20, 2018 5:40 pm

ALinLI wrote:
Wed Jun 20, 2018 5:24 pm
Paid off mortgage today. Feel great , proud of our accomplishment at one time the debt seemed like a big mountain but no more today. Many thanks to all the learnings i got about saving and investing from all the wise members sharing their knowledge and experience on this site. Discipline , hard work and some luck good career choice . Any way feel great today no one else to share this financial milesetones with except DW . Going out for drinks and sushi to celebrate then on to the next goals like college early retirement and savings for a rainy day. Must keep working hard at 46 just got much closer to FI. :D
Huge Congrats!!
Well done!!!

DesertDiva
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Re: I did it and feel great about it (paid off mortgage)

Post by DesertDiva » Wed Jun 20, 2018 5:43 pm

Kudos!
♫ Stocks go up ♫ Stocks go down ♫ Stocks go up ♫ Stocks go down ♫

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Wed Jun 20, 2018 6:47 pm

ALinLI - I moved your post and replies into here.

Congrats! :beer
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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unclescrooge
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Re: Post your Financial Milestone Announcements Here

Post by unclescrooge » Mon Jun 25, 2018 10:17 pm

Just hired a weekly maid service.

Finally at a point in my life where I feel I can afford it :D

Still don't have a gardener though....

ny_rn
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Re: Post your Financial Milestone Announcements Here

Post by ny_rn » Tue Jun 26, 2018 12:41 pm

A quick financial checkup just revealed I'm over the $200k mark.

33-year-old single male
403(b): ~$120k
Roth IRA: ~$35k
Taxable: ~$25k
Cash: ~$35k (will probably throw $15k of this into taxable account soon)
iBonds: ~$1.6k

:beer

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Tue Jun 26, 2018 3:23 pm

Congrats! Keep it going. :sharebeer
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

ALinLI
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Re: Post your Financial Milestone Announcements Here

Post by ALinLI » Wed Jun 27, 2018 12:40 pm

Congrats keep it up

FlyOverState
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Re: Post your Financial Milestone Announcements Here

Post by FlyOverState » Fri Jun 29, 2018 1:57 am

A couple weeks ago we reached two commas without using home equity, but now we are back to one comma.

On the bright side, we get to do it again!
Thanks, | John | | FlyOverState

PFInterest
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Re: Post your Financial Milestone Announcements Here

Post by PFInterest » Fri Jun 29, 2018 2:09 am

StevieG72 wrote:
Sun Jan 14, 2018 11:56 pm
I am broke.

Thats my story, and I am sticking to it!
Unemployed for the first time next week!

warpork
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Pulled the trigger and paid off the house today

Post by warpork » Fri Jun 29, 2018 11:44 am

[Thread merged into here, see below (next page). --admin LadyGeek]

Just need to shout out and say, once again, we are completely debt free by paying off the remainder of our primary residence! Wanted to use this forum as an outlet to let out some joy somewhat anonymously.

This is the 2nd personal residence we've paid off. Lesson learned the first time, don't tell any friends/family except the closest......we had a big party the first time and invited all our friends. Long story short, we found out who our "real" friends were as there were quite a few that were very jealous and really stopped being our friends. These were the ones that always seemed to have more than us (new cars, jet skis, 4wheelers, etc), but always living pay check to pay check. Guess thought they were doing better than us then felt bad after they found out what we had been doing/done. So that being said, not planning on telling any friends this time except maybe 2 (who are also Bogleheads).

I understand there are better financial things I could have done with the money (although it wasn't all that much at this point), but once again, I feel the weight of the world off my shoulders (and that's priceless). Thanks to all for the other threads and discussions in the countless other topics on this subject!

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DaftInvestor
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Re: Pulled the trigger and paid off the house today

Post by DaftInvestor » Fri Jun 29, 2018 11:48 am

Congratulations.
Certainly a mortgage pay off party sounds like it is asking for trouble in a number of ways. Not only would I fear the resentment but I would also fear the expectations of others for me to start covering the dinner checks, etc.

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jfn111
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Re: Pulled the trigger and paid off the house today

Post by jfn111 » Fri Jun 29, 2018 11:49 am

Congratulations! It's a good feeling to be free of home loan debt. :sharebeer

nexesn
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Re: Pulled the trigger and paid off the house today

Post by nexesn » Fri Jun 29, 2018 11:52 am

warpork wrote:
Fri Jun 29, 2018 11:44 am
Just need to shout out and say, once again, we are completely debt free by paying off the remainder of our primary residence! Wanted to use this forum as an outlet to let out some joy somewhat anonymously.

This is the 2nd personal residence we've paid off. Lesson learned the first time, don't tell any friends/family except the closest......we had a big party the first time and invited all our friends. Long story short, we found out who our "real" friends were as there were quite a few that were very jealous and really stopped being our friends. These were the ones that always seemed to have more than us (new cars, jet skis, 4wheelers, etc), but always living pay check to pay check. Guess thought they were doing better than us then felt bad after they found out what we had been doing/done. So that being said, not planning on telling any friends this time except maybe 2 (who are also Bogleheads).

I understand there are better financial things I could have done with the money (although it wasn't all that much at this point), but once again, I feel the weight of the world off my shoulders (and that's priceless). Thanks to all for the other threads and discussions in the countless other topics on this subject!

Congratulations!!!!! Throwing a little virtual party for you! :sharebeer :sharebeer

Sorry about the experiences in the past, but better to learn early about the friends than invest too much time with them and realize later the true colors of who they were.

Well done getting ride of the collection bank hovering over your houses roof :)

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mhc
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Re: Pulled the trigger and paid off the house today

Post by mhc » Fri Jun 29, 2018 11:52 am

congratulations! life isn't just about making financial decisions.

FireHorse
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Re: Pulled the trigger and paid off the house today

Post by FireHorse » Fri Jun 29, 2018 11:53 am

Congrats!!!
No jealous here, only happy for you. One step forward to your ultimate achievement!!

Texanbybirth
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Re: Pulled the trigger and paid off the house today

Post by Texanbybirth » Fri Jun 29, 2018 11:54 am

Congratulations on a paid off mortgage! :beer (I'm super jealous, but still very happy for you.)

And congrats on having flesh and blood friends who are Bogleheads. I've always wondered if any one of my friends is on this forum, as I don't talk much about BH specifically (maybe the principles and theories in general) to any friends. (Is it YOU?) :D
Last edited by Texanbybirth on Fri Jun 29, 2018 11:54 am, edited 1 time in total.

soccerrules
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Re: Pulled the trigger and paid off the house today

Post by soccerrules » Fri Jun 29, 2018 11:54 am

Congrats ! :beer
Don't let your outflow exceed your income or your upkeep will be your downfall.

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Cyclesafe
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Re: Pulled the trigger and paid off the house today

Post by Cyclesafe » Fri Jun 29, 2018 11:59 am

It simply doesn't matter that there could have been financially better alternatives. Getting completely out of debt is second only to finally achieving FI as a financial milestone.

Congratulations.

The reaction you are getting from your friends is partially a sense of regret that their "stuff" didn't give them anywhere near the same level of happiness that paying off your mortgage gave you. Give them time.

WhiteMaxima
Posts: 1499
Joined: Thu May 19, 2016 5:04 pm

Re: Pulled the trigger and paid off the house today

Post by WhiteMaxima » Fri Jun 29, 2018 12:02 pm

risk free 4% return or risky 7% investment?

naclt
Posts: 24
Joined: Wed Feb 07, 2018 8:15 am

Re: Pulled the trigger and paid off the house today

Post by naclt » Fri Jun 29, 2018 12:14 pm

Awesome, good for you! Hope to be in your shoes in the near future. :beer

And sad that you can’t celebrate more publicly...self contained excitement and gratification!

DesertDiva
Posts: 189
Joined: Thu Mar 01, 2018 12:49 pm

Re: Pulled the trigger and paid off the house today

Post by DesertDiva » Fri Jun 29, 2018 12:22 pm

DaftInvestor wrote:
Fri Jun 29, 2018 11:48 am
Congratulations.
Certainly a mortgage pay off party sounds like it is asking for trouble in a number of ways. Not only would I fear the resentment but I would also fear the expectations of others for me to start covering the dinner checks, etc.
+1 Privacy prevents many unintended consequences 8-)
Congrats
♫ Stocks go up ♫ Stocks go down ♫ Stocks go up ♫ Stocks go down ♫

foamypirate
Posts: 79
Joined: Sun Jul 09, 2017 9:36 pm

Re: Pulled the trigger and paid off the house today

Post by foamypirate » Fri Jun 29, 2018 12:27 pm

Congratulations! We hope to be in the same boat in about 4.5 years, if things go according to plan. :sharebeer

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N1CKV
Posts: 772
Joined: Wed Mar 21, 2012 8:18 am

Re: Pulled the trigger and paid off the house today

Post by N1CKV » Fri Jun 29, 2018 12:32 pm

Congratulations on your achievement.
I have met a lot of people that claim to love money, but they also seem to be the same people that are in the biggest hurry to get rid of it.

BradJ
Posts: 216
Joined: Sun Jan 21, 2018 6:06 pm

Re: Pulled the trigger and paid off the house today

Post by BradJ » Fri Jun 29, 2018 12:40 pm

Well done and congratulations! What is your advice for us young folks who are on the brink of either paying the house off or going for a bigger, nicer home? My family and I live in a home that is a level right below "just right", but we can pay it off in about 4-5 years (before we are 40). We arent sure to upgrade once she starts working or go all the way and pay it off.

Exafchick
Posts: 133
Joined: Thu Nov 09, 2017 10:40 am

Re: Pulled the trigger and paid off the house today

Post by Exafchick » Fri Jun 29, 2018 12:42 pm

Wow, good for you! I had been paying extra toward the principle but decided to build up my emergency fund so I'd have enough to buy a new car with cash. But, once the fund gets to a number I feel comfortable with I will go back to adding extra to mortgage. What a big relief it must be!

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djpeteski
Posts: 693
Joined: Fri Mar 31, 2017 9:07 am

Re: Pulled the trigger and paid off the house today

Post by djpeteski » Fri Jun 29, 2018 12:43 pm

:sharebeer

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DaftInvestor
Posts: 4091
Joined: Wed Feb 19, 2014 10:11 am

Re: Pulled the trigger and paid off the house today

Post by DaftInvestor » Fri Jun 29, 2018 12:47 pm

BradJ wrote:
Fri Jun 29, 2018 12:40 pm
Well done and congratulations! What is your advice for us young folks who are on the brink of either paying the house off or going for a bigger, nicer home? My family and I live in a home that is a level right below "just right", but we can pay it off in about 4-5 years (before we are 40). We arent sure to upgrade once she starts working or go all the way and pay it off.
My advise is ask yourself the question "Do I really need a bigger, nicer house?".
Why do you need to "upgrade"?
If the house is "just right" why would you upgrade?
When I was your age my wife and I spent time looking as we were thinking of upgrading our house. It seemed to be what everyone was doing - as soon as you could afford to do so - you go and upgrade your house. Then we thought about it and decided we didn't need it. I live in a smaller house than everyone that works for me that makes less than me (although most of them don't know it) and also drive a less expensive car than nearly all of them. But unlike any of them I am debt-free and I know that I will retire in a pretty comfortable state which I am pretty sure I can't say for many of them.
If you can afford it and a bigger house would truly make your and family happy you should do it. But don't do it simply because you can. A lot of people make decisions to keep-up-with-the-Jonses that aren't the right decisions for them.

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