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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 12:53 pm

DaftInvestor wrote:
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.
+1

If you need the bigger/better house go for it. But if you don't splurge here, you'll be able to splurge in many other areas that could bring you more happiness. FIRE is a wonderful, wonderful thing.

Cascade425
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Re: Pulled the trigger and paid off the house today

Post by Cascade425 » Fri Jun 29, 2018 12:55 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.
You also need to think about how to downsize as your family situation evolves over time. We have kids in high school now and in four years when they go to college we will cut our square footage in half. So, we're renting right now and have bought our next home in the city where we can walk everywhere.

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

Post by FIREchief » Fri Jun 29, 2018 1:05 pm

Congrats to the OP! :beer

On the subject of parties and friends.... I would never throw a party (or even share with anybody other than immediate family) because I paid off a mortgage. It could easily come across as bragging about success (right there with co-workers who threw parties to celebrate the promotion they got that ten of the invitees were also hoping for). Have a nice dinner with your significant other and kids (as applicable) and move on to the next step in your investing life. This is a great opportunity to take the equivalent of that monthly mortgage check and plow it straight into an after-tax equities investment. Pretend you're still making a mortgage payment.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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greg24
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Re: Pulled the trigger and paid off the house today

Post by greg24 » Fri Jun 29, 2018 1:11 pm

:sharebeer
:sharebeer
:sharebeer

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

Post by JoeRetire » Fri Jun 29, 2018 1:20 pm

warpork wrote:
Fri Jun 29, 2018 11:44 am
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).
Congratulations.

I find that most folks are happy with their decision - the ones that don't pay off their mortgage, the ones that do because they believe it's the optimal financial choice, and the ones that do and know it isn't the optimal financial choice.

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

Post by BostonButterfly » Fri Jun 29, 2018 1:36 pm

Congratulations! Cheers to you!
I am on track for nine more years until mortgage payoff. Seems like a lifetime, and right around the corner at the same time.....LOL. I can't wait to experience paying it off!

warpork wrote:
Fri Jun 29, 2018 11:44 am
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.
Comments like above make me so sad. It bothers me that money can cause so many issues. We are striving for retirement in ten years at age 58. We are working very hard towards that goal. I have found that whenever we discuss our plan with family or friends, the reaction is quite often negative. People seem to imply that we don't realize just how much money we would need, and we couldn't possibly have saved enough by then. We are also warned that we'll be so bored and non-productive by retiring early (as if 58 is THAT early!). These conversations always leave us feeling frustrated and irritated, so now we just avoid conversations that might lead to this topic. Retiring early, and even being on a purposeful path to reach the goal, is such major accomplishment - you'd think people would just be genuinely happy for you. Sadly, it seems like it just brings out the ugly side of some people. Very sad.

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

Post by ALinLI » Fri Jun 29, 2018 1:45 pm

Congrats on this achievement. Nice work. Keep saving and investing. FI is on the horizon

runner3081
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Re: Pulled the trigger and paid off the house today

Post by runner3081 » Fri Jun 29, 2018 1:58 pm

DaftInvestor wrote:
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?
Completely agree. Going from an 1,000 sq ft condo to 1,200 sq ft house to 1,900 now, has mad use realize how big our house is for three people now. Could easily ratchet back to 1,400-1,500. As far as upgrading, if it is in a relatively safe, who cares.

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

Post by FIREchief » Fri Jun 29, 2018 2:05 pm

BostonButterfly wrote:
Fri Jun 29, 2018 1:36 pm
warpork wrote:
Fri Jun 29, 2018 11:44 am
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.
I have found that whenever we discuss our plan with family or friends, the reaction is quite often negative. People seem to imply that we don't realize just how much money we would need, and we couldn't possibly have saved enough by then. We are also warned that we'll be so bored and non-productive by retiring early (as if 58 is THAT early!). These conversations always leave us feeling frustrated and irritated, so now we just avoid conversations that might lead to this topic.
Exactly. It continues to baffle me why anybody would be willing to share such plans with anybody beyond spouse and responsible adult children. It's nobody else's business, and I wouldn't tell them anything even if it was. I adopted a policy decades ago of wanting everybody other than my immediate, immediate family to think I was on the brink of bankruptcy and would be lucky to keep the house.
Retiring early, and even being on a purposeful path to reach the goal, is such major accomplishment - you'd think people would just be genuinely happy for you.
Not me. I would expect the exact reactions you got.
Sadly, it seems like it just brings out the ugly side of some people. Very sad.
Most of us learned very early on in life that if we bragged about ourselves, it would indeed bring out the ugly side of people. This will never change.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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

Post by ALinLI » Fri Jun 29, 2018 2:06 pm

As they say in the Navy loose lips sink ships

bloom2708
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Re: Pulled the trigger and paid off the house today

Post by bloom2708 » Fri Jun 29, 2018 2:08 pm

It is a funny world. If you went out and bought a new huge boat with a big boat loan all your friends/neighbors would want a ride and be all smiles.

If you paid off the boat loan, they are jealous. Ah. Good times.

Congrats on the mortgage payoff. Now, don't do it again. :wink: :shock: :oops:
"We are here not to please but to provoke thoughtfulness" Unknown Boglehead

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

Post by FIREchief » Fri Jun 29, 2018 2:09 pm

runner3081 wrote:
Fri Jun 29, 2018 1:58 pm
As far as upgrading, if it is in a relatively safe, who cares.
Yes!! :sharebeer

I've reminded myself at times that the current house was something we really looked forward to and appreciated twenty years ago. The house hasn't changed, so why should I be any less happy with it today? Sure, if you watch the TV shows you will find out that your perfectly good cabinets and appliances need to be replaced because they aren't grey and stainless steel. Wait five years, and we'll be back to natural wood colors and white or black appliances. It still won't matter! Who knows, Harvest Gold and Avocado may even make a comeback. 8-)
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

cj2018
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Re: Pulled the trigger and paid off the house today

Post by cj2018 » Fri Jun 29, 2018 2:10 pm

Warm congrats to this milestone! And thanks for sharing the story about your first party - very insightful :sharebeer

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

Post by FIREchief » Fri Jun 29, 2018 2:11 pm

bloom2708 wrote:
Fri Jun 29, 2018 2:08 pm
It is a funny world. If you went out and bought a new huge boat with a big boat loan all your friends/neighbors would want a ride and be all smiles.
While also gossiping behind your back that your boat is ridiculous and stupid (because it is bigger, newer and faster than the boat they're stuck with).
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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

Post by Wellfleet » Fri Jun 29, 2018 2:21 pm

Congrats Warpork! :beer :beer :beer

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

Post by BostonButterfly » Fri Jun 29, 2018 2:24 pm

FIREchief wrote:
Fri Jun 29, 2018 2:05 pm
I adopted a policy decades ago of wanting everybody other than my immediate, immediate family to think I was on the brink of bankruptcy and would be lucky to keep the house.
This conversation is getting off topic, but when does this cross the line into being deceitful? People's money is none of my business. But I do think if a friend or relative of mine spent a lifetime crafting an image of scraping pennies to get by, when in fact they were very wealthy, I would feel like the relationship was built around a gigantic lie. I don't know - clearly I need to spend some time thinking about this stuff!

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

Post by Wellfleet » Fri Jun 29, 2018 2:28 pm

BostonButterfly wrote:
Fri Jun 29, 2018 2:24 pm

This conversation is getting off topic, but when does this cross the line into being deceitful? People's money is none of my business. But I do think if a friend or relative of mine spent a lifetime crafting an image of scraping pennies to get by, when in fact they were very wealthy, I would feel like the relationship was built around a gigantic lie. I don't know - clearly I need to spend some time thinking about this stuff!
I'd think the line is the same when we discuss being frugal versus cheap. Frugal is driving a used Corolla, cheap is refusing to attend family events like a celebratory dinner because of the cost (if you could afford it otherwise).

bloom2708
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Re: Pulled the trigger and paid off the house today

Post by bloom2708 » Fri Jun 29, 2018 2:29 pm

BostonButterfly wrote:
Fri Jun 29, 2018 2:24 pm
FIREchief wrote:
Fri Jun 29, 2018 2:05 pm
I adopted a policy decades ago of wanting everybody other than my immediate, immediate family to think I was on the brink of bankruptcy and would be lucky to keep the house.
This conversation is getting off topic, but when does this cross the line into being deceitful? People's money is none of my business. But I do think if a friend or relative of mine spent a lifetime crafting an image of scraping pennies to get by, when in fact they were very wealthy, I would feel like the relationship was built around a gigantic lie. I don't know - clearly I need to spend some time thinking about this stuff!
I think it is another stage you move into. At some point your normal sized house is good enough. Your older cars are good enough. We drive a 2001 and a 2004 car. Our house is middle of the road size wise. Do those things imply anything? Maybe, maybe not. If we added on that we haven't had a mortgage since 2007 and both cars are beautiful older Lexus vehicles that drive like new, that may or may not help. I tend to dress very casual at work (I can) and maybe that implies that I'm a poor dresser. :wink:

Best to just do what you want to do and ignore thinking about what others might think.
"We are here not to please but to provoke thoughtfulness" Unknown Boglehead

Dottie57
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Re: Pulled the trigger and paid off the house today

Post by Dottie57 » Fri Jun 29, 2018 2:37 pm

Congratulations. Good feeling isn’t it?!

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

Post by warpork » Fri Jun 29, 2018 2:46 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.
Thanks!

I'll tell you what, I was in the same boat as you, but had already paid off the first house, when the DW decided we needed to upgrade due to our expanding family....we had 1 kid at the time, pregnant with our second, and were planning on having a 3rd (with 2 dogs as well). I had just completed the basement myself as well. I was very against getting a new house, but went looking with her as well. We looked for a while (had our 2nd child), and the house was starting to feel small. Just so happened this was all during the 2008-2009 housing crash and we happened to find a sweet deal on a much larger house (nicer neighborhood and school district to boot). I still didn't want to get a mortgage for the new house, but agreed it was a great deal, great house, and overall we'd be much happier there even with the mortgage. Got a 15 year loan and aggressively attacked it from day 1 (while still maxing retirement, ESPP, and investing in taxable accounts). 9 years later (wow can't believe it's been that long) and back to being free. So I say as long as you have a plan and can afford it, go for it, especially if it makes the family happy.

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

Post by SurfCityBill » Fri Jun 29, 2018 2:50 pm

bloom2708 wrote:
Fri Jun 29, 2018 2:08 pm
It is a funny world. If you went out and bought a new huge boat with a big boat loan all your friends/neighbors would want a ride and be all smiles.

If you paid off the boat loan, they are jealous. Ah. Good times.

Congrats on the mortgage payoff. Now, don't do it again. :wink: :shock: :oops:
I recall seeing an interview with someone in a hugely successful band from the 90's. He said, "we wish our friends well, but not too well."
He was unfortunately referring to all the friends he used to have when he was a moderate success only to lose them when he became a big success.
Of course, there are probably a lot more dynamics in play here then just his success, but the point was as his success/money/fame grew the more jealous his old friends became.

Similarly, I'd be willing to bet all my friends would be very happy for me if I won a five figure lotto payout. Many less if that was a 7 or 8 figure payout.

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

Post by FIREchief » Fri Jun 29, 2018 2:54 pm

BostonButterfly wrote:
Fri Jun 29, 2018 2:24 pm
FIREchief wrote:
Fri Jun 29, 2018 2:05 pm
I adopted a policy decades ago of wanting everybody other than my immediate, immediate family to think I was on the brink of bankruptcy and would be lucky to keep the house.
This conversation is getting off topic, but when does this cross the line into being deceitful? People's money is none of my business. But I do think if a friend or relative of mine spent a lifetime crafting an image of scraping pennies to get by, when in fact they were very wealthy, I would feel like the relationship was built around a gigantic lie. I don't know - clearly I need to spend some time thinking about this stuff!
Hey, if I am scraping pennies in order to fully fund my FIRE fund, and others interpret it to mean that I am broke; well, that's their problem. You don't need to lie to them and tell them you are broke, as many/most want to believe that version rather than the fact that you are getting ahead of them financially by living well below your means. I once had a direct report at work make a smart aleck comment to me about my decade old Chevy. Not sure what he was driving, but I'm FIRE'd and he's likely stuck at Megacorp for another ten to fifteen years. To each his own. :sharebeer
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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

Post by Atilla » Fri Jun 29, 2018 2:57 pm

I wanted to frame the fancy paid off mortgage certificate we got and put it on the wall where people would see it.

Wife won't let me.
The Village Idiot - here for your entertainment.

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Artful Dodger
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Re: Pulled the trigger and paid off the house today

Post by Artful Dodger » Fri Jun 29, 2018 2:59 pm

Congratulations! :sharebeer

We're about three years away. It's on my list to complete prior to retirement.

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

Post by Elsebet » Fri Jun 29, 2018 3:07 pm

Congratulations, paying off debt is always something to celebrate.

GT99
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Re: Pulled the trigger and paid off the house today

Post by GT99 » Fri Jun 29, 2018 3:10 pm

FIREchief wrote:
Fri Jun 29, 2018 1:05 pm
Congrats to the OP! :beer

On the subject of parties and friends.... I would never throw a party (or even share with anybody other than immediate family) because I paid off a mortgage. It could easily come across as bragging about success (right there with co-workers who threw parties to celebrate the promotion they got that ten of the invitees were also hoping for). Have a nice dinner with your significant other and kids (as applicable) and move on to the next step in your investing life. This is a great opportunity to take the equivalent of that monthly mortgage check and plow it straight into an after-tax equities investment. Pretend you're still making a mortgage payment.
I agree. Not trying to be rude, but it seems like the friends not being friends out of jealousy is an assumption that may not be accurate. They could just have been turned off by the flaunting of financial success. Don't get me wrong, paying off the mortgage is something to be proud of. But I'm not going to flaunt it anymore than I'd flaunt getting a six figure bonus.

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

Post by FIREchief » Fri Jun 29, 2018 3:28 pm

Atilla wrote:
Fri Jun 29, 2018 2:57 pm
I wanted to frame the fancy paid off mortgage certificate we got and put it on the wall where people would see it.

Wife won't let me.
Keep her!
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

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

Post by grettman » Fri Jun 29, 2018 3:32 pm

GT99 wrote:
Fri Jun 29, 2018 3:10 pm
FIREchief wrote:
Fri Jun 29, 2018 1:05 pm
Congrats to the OP! :beer

On the subject of parties and friends.... I would never throw a party (or even share with anybody other than immediate family) because I paid off a mortgage. It could easily come across as bragging about success (right there with co-workers who threw parties to celebrate the promotion they got that ten of the invitees were also hoping for). Have a nice dinner with your significant other and kids (as applicable) and move on to the next step in your investing life. This is a great opportunity to take the equivalent of that monthly mortgage check and plow it straight into an after-tax equities investment. Pretend you're still making a mortgage payment.
I agree. Not trying to be rude, but it seems like the friends not being friends out of jealousy is an assumption that may not be accurate. They could just have been turned off by the flaunting of financial success. Don't get me wrong, paying off the mortgage is something to be proud of. But I'm not going to flaunt it anymore than I'd flaunt getting a six figure bonus.

I agree the assumption could be erroneous. I try to think of how I would feel, and I would be annoyed.... not jealous.....

renue74
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Re: Pulled the trigger and paid off the house today

Post by renue74 » Fri Jun 29, 2018 3:32 pm

Congrats!

I honestly never thought that paying off a house would be an opportunity for jealousy. I'm 43 and only know a few folks who paid theirs off "and" I knew about it. I've always told them "that's great! what a relief to know your largest debt is over with!"

Enjoy the weekend.

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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Fri Jun 29, 2018 3:52 pm

warpork - I moved your thread into here. Brag away.

Congrats!
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Fri Jun 29, 2018 3:55 pm

PFInterest wrote:
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!
It's certainly a milestone. Was this by your own choice, or your employer's choice?
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.

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

Post by warpork » Fri Jun 29, 2018 4:07 pm

renue74 wrote:
Fri Jun 29, 2018 3:32 pm
Congrats!

I honestly never thought that paying off a house would be an opportunity for jealousy. I'm 43 and only know a few folks who paid theirs off "and" I knew about it. I've always told them "that's great! what a relief to know your largest debt is over with!"

Enjoy the weekend.
Thanks! That's what I originally thought and how I would have reacted as well. Reality though is quite different. People always seem to amaze me, some times in a good way, but most of the time in a negative way unfortunately.

PFInterest
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Re: Post your Financial Milestone Announcements Here

Post by PFInterest » Sat Jun 30, 2018 1:57 pm

LadyGeek wrote:
Fri Jun 29, 2018 3:55 pm
PFInterest wrote:
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!
It's certainly a milestone. Was this by your own choice, or your employer's choice?
ha, mine. moving to new location and have yet to set up shop. its quite liberating and soul crushingly anxiety producing at the same time.

Elbukari
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Re: Post your Financial Milestone Announcements Here

Post by Elbukari » Sun Jul 08, 2018 2:02 am

When I come back from Vacation in September, I will go to the bank and pay off my last $100k on the house. Eliminating that 4.5% interest rate seems more reasonable than putting the money in the stock market at the moment given the low rate of returns we've had (fyi, i have maxed out my retirement funds).

TwstdSista
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Re: Post your Financial Milestone Announcements Here

Post by TwstdSista » Sun Jul 08, 2018 4:52 am

Elbukari wrote:
Sun Jul 08, 2018 2:02 am
When I come back from Vacation in September, I will go to the bank and pay off my last $100k on the house. Eliminating that 4.5% interest rate seems more reasonable than putting the money in the stock market at the moment given the low rate of returns we've had (fyi, i have maxed out my retirement funds).
Ooh! Very exciting. Post back when you pull the trigger, so-to-speak!

student
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Re: Post your Financial Milestone Announcements Here

Post by student » Sun Jul 08, 2018 6:20 am

Elbukari wrote:
Sun Jul 08, 2018 2:02 am
When I come back from Vacation in September, I will go to the bank and pay off my last $100k on the house. Eliminating that 4.5% interest rate seems more reasonable than putting the money in the stock market at the moment given the low rate of returns we've had (fyi, i have maxed out my retirement funds).
Congratulations.

Streptococcus
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Reached 7 figure

Post by Streptococcus » Thu Jul 12, 2018 5:32 pm

[merged Streptococcus' thread and its replies here - moderator prudent]

Hello Bogleheads,
About 18 months ago I celebrated our 500K milestone networth.
I had always thought that I would celebrate when I reach 1 million networth. Well I didn’t.
I just realized today that our networth surpassed that number months ago and I didnt even realize it. I dont pay much attention, rebalance when i remember, every 2-3 months, but i do invest every 2 weeks, dividing the money according to AA.

Its surprising how after a certain point, your networth goes faster than your expectation, especially after a year like 2017 when our portfolio had a cap gain in the 6 figures. Plus, when you pay off your house in 15 years like us, the debt goes down fast, and your networth up, faster.

Next goal, 7 figure portfolio, probably in the next year. Unless the market decides otherwise :happy
Thank you for everythng you teach

kaeltor
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Re: Reached 7 figure

Post by kaeltor » Thu Jul 12, 2018 5:40 pm

Congrats man! I hope to get to 6 figure NW sometime next year... currently ~25K...

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Re: Reached 7 figure

Post by Sandtrap » Thu Jul 12, 2018 5:41 pm

:sharebeer

Silk McCue
Posts: 958
Joined: Thu Feb 25, 2016 7:11 pm

Re: Reached 7 figure

Post by Silk McCue » Thu Jul 12, 2018 5:42 pm

Congratulations! Onward and upward.

Cheers

bubbadog
Posts: 596
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Re: Reached 7 figure

Post by bubbadog » Thu Jul 12, 2018 5:54 pm

Congrats! :sharebeer

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ruralavalon
Posts: 13309
Joined: Sat Feb 02, 2008 10:29 am
Location: Illinois

Re: Reached 7 figure

Post by ruralavalon » Thu Jul 12, 2018 5:57 pm

Congratulations :D :D :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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dccboone
Posts: 77
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Re: Reached 7 figure

Post by dccboone » Thu Jul 12, 2018 6:00 pm

Congratulations! Here's to reaching your next goal and many more after that.
:sharebeer

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Dedde
Posts: 2
Joined: Fri Jul 06, 2018 2:24 pm

Re: Post your Financial Milestone Announcements Here

Post by Dedde » Thu Jul 12, 2018 11:21 pm

First of all congratulations to all the millionaires. It is certainly where we want to be. And I agree with WCI, as long as you got there without nefarious means, celebrate it.

Our milestone is that we have a fully funded emergency fund. It took us 4 years. Now we are focused on our 2 year mortgage burn off plan.

Thanks all

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ruralavalon
Posts: 13309
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Location: Illinois

Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Fri Jul 13, 2018 7:15 am

White Coat Investor wrote:
Tue Jan 09, 2018 2:34 am
Ha ha, good timing as we just did our annual net worth update. We hit our "number" this year. Yay us. But our most significant milestone for 2017 and the one we're most proud of was giving away more than we spent. I hope that will continue for many years.

And since I'm putting up the second post in this thread, I just wanted to say congratulations in advance to all who reached a big milestone. Celebrate them. They really are noteworthy accomplishments. I'm proud of you.
Congratulations on reaching your number, and Kudos for giving to others.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

achen9291
Posts: 291
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I think I hit 100k on retirement milestone?

Post by achen9291 » Sun Jul 15, 2018 1:39 pm

[merged here - moderator prudent]

Checked my account on mint today and I see that it hit 100k. I actually hit it a few months ago but I was switching jobs and lost my match which put me under. I rolled over my old 401k to new 401k and I assume it doesn't just carry over the match that I lost... the numbers I think are reflecting accurately.

To be honest it doesn't really feel any different that I hit this milestone I just felt like it took forever! I been investing since 2014 when I graduated college. Attempted to max out my retirement accounts since then but with job losses and losing matches it delayed my goals. I need some encouragement...

Image

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Cycle
Posts: 508
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Location: Minneapolis, USA

Re: I think I hit 100k on retirement milestone?

Post by Cycle » Sun Jul 15, 2018 1:46 pm

:sharebeer :dollar :moneybag :dollar :moneybag. I maxed out my 401k from when I was 23 onward. It took 12 years, but 401k is now at $500k. It was painful at times, having roommates when I could afford to live alone, saying no to new cars, but worth it. On track to FIRE with 2% SAWR at 47, 44 if market performs well.

megabad
Posts: 287
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Re: I think I hit 100k on retirement milestone?

Post by megabad » Sun Jul 15, 2018 2:12 pm

Congrats. I assume you were discussing the vesting period with regard to your matches. Yes, it does stink that you lose part of the match if you leave before vesting, but such is life and you have reached a great milestone.

youngpleb
Posts: 201
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Location: VA, USA

Re: I think I hit 100k on retirement milestone?

Post by youngpleb » Sun Jul 15, 2018 3:48 pm

achen9291 wrote:
Sun Jul 15, 2018 1:39 pm
Checked my account on mint today and I see that it hit 100k. I actually hit it a few months ago but I was switching jobs and lost my match which put me under. I rolled over my old 401k to new 401k and I assume it doesn't just carry over the match that I lost... the numbers I think are reflecting accurately.

To be honest it doesn't really feel any different that I hit this milestone I just felt like it took forever! I been investing since 2014 when I graduated college. Attempted to max out my retirement accounts since then but with job losses and losing matches it delayed my goals. I need some encouragement...
Congratulations! As Charlie Munger says, "the first 100k is a b*tch." :sharebeer Assuming you are 26-ish since you graduated in 2014, amassing that much in savings at that age is impressive! The importance of this milestone is that no matter the market returns during this period, it still takes a ton of savings invested to reach. As this article points out, you can get 12% returns for 5 years and still have to invest $15K each year to hit $100K by the end of those 5 years.

http://www.fourpillarfreedom.com/charli ... is-a-btch/
27. Always learning.

jadedfalcons
Posts: 165
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Re: I think I hit 100k on retirement milestone?

Post by jadedfalcons » Sun Jul 15, 2018 3:51 pm

Congratulations!

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