Author Topic: How much debt do you have? Are you out of debt?  (Read 17885 times)

anisotropy

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Re: How much debt do you have? Are you out of debt?
« Reply #50 on: July 11, 2014, 02:29:32 PM »
debt
Real: about $35000 student loans and consumer debt (not NW) upon graduation in 2009
Emotional: tons haha

how long?
Too long, finally cleared the tab in 2011. Thanks to my off the chart spending habits, so many oppourtunies missed and wasted...

income
We do ok, net income is about 4-5x of expenses since 2011. A year of bad market could easily turn it into 2x though or even way into the negatives depending on how bad it is.....

age
Both 30.5

occupation
Geo

Gray Matter

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Re: How much debt do you have? Are you out of debt?
« Reply #51 on: July 11, 2014, 02:46:15 PM »
250K combined pre-tax household income (have only made this much the past 5 years, made less than half that before)
...
Until very recently, I was in training and development (now a non-profit jack-of-all-trades).  Hubby is a management consultant.

if you don't mind my asking, was it your job, your husband's, or both that was responsible for the big pay increase? just curious what you did to make that happen, it's pretty awesome! :)

I don't mind at all!  I think this happens pretty frequently.  My husband started in a very entry level job (account administrator) at a consulting firm.  He worked really hard, and got promoted, and promoted again.  Every time, he got raises that looked good from a percentage perspective, but didn't amount to much since he started at such a low salary.  After a number of years, he was a senior consultant with a lot of clients, responsibility, and international travel, but he never overcame the fact that he started out earning so little.  Though his salary had nearly tripled, he was still significantly underpaid for the work he was doing.

By moving to another department and taking on additional responsibilities, he was able to secure a big pay increase (something like 65%), but it felt like too little, too late and he was already disengaged and disenchanted.  But the move and the pay bump gave him the confidence to look elsewhere and secure a new job at another big increase (80%), so he ended up tripling his salary in one year through those two moves (one internal, one external).

I have seen this happen time and time again--your salary has far more to do with the economy and circumstances at the time of your hire than what you're actually "worth" relative to your colleagues.  And many companies have guidelines against giving raises bigger than 10% or 15% even when changing jobs internally, and they really seem to hate to do market adjustments.  In many cases, you have to leave in order to come in somewhere else at market value.

Cheddar Stacker

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Re: How much debt do you have? Are you out of debt?
« Reply #52 on: July 11, 2014, 02:51:37 PM »
The OP just asked about debt, debt isn't intrinsically good or bad.  I'm finding it fascinating how many people say they're debt free when they carry debt.  Are they embarrassed that they make logical decisions that include holding debt to increase NW faster?

If I own shares of a REIT that carries debt on its balance sheet, am I in debt? If not, what is the meaningful distinction between that and a mortgage secured by an income producing property? I don't draw one, really. I'd say it's okay to feel debt free and awesome, the moment you no longer owe money for any current or past consumption.
If you own shares then I presume you think debt is fine and the stock is good.  There's nothing wrong with debt, why not embrace it? I draw the line at personal debt (mortgage, CC, auto, student Loan, HELOC, investment loan etc.) which I sign for and someone can ask me for the money today.  Is someone going to personally phone you up for the REIT debt if they're underwater on a loan? Large debts can be a sign of very intelligent decision making , or very stupid depending on the person (usually CC debt). I think most people fall into the former camp, except the people who need to make excuses for the debts.

My current terrific situation is because of my student loan debt.  It taught me debt can be a useful tool, I highly recommend using debt to make life better. Hooray to the smart debtors!

I agree with PP here, but it was a valiant effort desrever. There is a difference between an investment in a REIT (no recourse) and your own rental property which many times has personal guarantees or additional assets beyond the value of the property in case things go south.

For the record PP, I carry debt in efforts to accelerate FIRE, and I do not consider myself debt free. I don't want to be debt free until after I FIRE. I believe it is disingenuous to call yourself debt free if you have mortgages and such. You have positive net worth on that investment, isn't that enough? A debt is a debt, some are for a great reason, but they are still a debt.

kallinan

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Re: Are you out of debt?
« Reply #53 on: July 11, 2014, 03:20:58 PM »

What is your occupation?
Software Developer (currently finance industry) & very part time Physical Therapist (local hospital)


That's really interesting.  Don't you need a doctorate to practice Physical Therapy, or am I mistaken?  That would be a lot of time and money invested to be mostly working in another field.  Either way, congrats on having two skills that can earn good money.

Ah, my mistake - Physical Therapist is my wife's occupation.  I'm the software developer.   But yes, her eduction & time is currently invested in teaching our kindergartener & 1st grader how to read & do basic math.  :)  Such is life.

carozy

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Re: How much debt do you have? Are you out of debt?
« Reply #54 on: July 11, 2014, 06:22:02 PM »
Are you out of debt?

No.  I have $700 is credit card debt which I'll pay off with the next paycheck.  This is down from $14,000 credit card debt which I'd had for a few years and had been paying the minimums on for the past year or two. 

How long did it take you to get out of debt?

I started aggressively paying off the debt around the end of April, when it was $10,000.  I moved in with my parents at that time and so my monthly expenses went way down.  The debt was from being spendy when I was unemployed or only part time employed.

How much do you make?

Around $38,500.

Hold old are you?

35

What is your occupation?

Office Manager

neophyte

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Re: How much debt do you have? Are you out of debt?
« Reply #55 on: July 11, 2014, 07:34:21 PM »
Are you out of debt?
How long did it take you to get out of debt?


Never been in debt. Thanks to scholarships and a generous father, I made it through college without any student loans. Someday I'll probably have a mortgage.

How much do you make?

About $30,000 gross.  I need to figure out how people make money and get in on that.

Hold old are you?

27

What is your occupation?

I work in bioengineering

DollarBill

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Re: How much debt do you have? Are you out of debt?
« Reply #56 on: July 11, 2014, 07:46:21 PM »
Are you out of debt?  Yes

How much do you make?  56k (Most ever)

Hold old are you?  39

What is your occupation? Military (Soon to be retired)

NV Teacher

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Re: How much debt do you have? Are you out of debt?
« Reply #57 on: July 11, 2014, 09:02:52 PM »
Are you out of debt?   No, but I'm getting there.  I paid off my SL this week but I still have a house note.  No other debt.

How long did it take you to get out of debt?   See above.

How much do you make?   $75,000 a year

Hold old are you?   Older than I look.

What is your occupation?    School teacher

lizzzi

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Re: How much debt do you have? Are you out of debt?
« Reply #58 on: July 12, 2014, 06:17:01 AM »
Never carried any debt except for house mortgages over the years and sometimes car payments (relatively short-term; always paid off cars as soon as possible). Credit cards almost always paid monthly; once in a while for large purchases (refrigerator, etc.,) would pay in it two months

Associates degree: Paid for without loans; worked three part-time jobs while a student.
Bachelor's degree: Paid for with GI bill.
Master's degree: Just paid for it with savings; cash on the barrelhead.

Income was always fairly average RN's salary. First husband was Air Force pilot, second husband is retired NYC policeman. Both quite Mustachian, in their own ways.

Age: 64

Life philosophy was always Mustachian, long before MMM started his blog and coined the term. I personally think it is a great route to happiness.



lizzzi

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Re: How much debt do you have? Are you out of debt?
« Reply #59 on: July 12, 2014, 06:19:44 AM »
Forgot to say current income ( state pension and part of military pension) is $32,000. Husband's SS and NYC police pension totals around $34,000. So $66,000. Save around half of that.

CU Tiger

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Re: How much debt do you have? Are you out of debt?
« Reply #60 on: July 12, 2014, 08:14:47 AM »
Are you out of debt? Yes.

How long did it take you to get out of debt? Purchased house in 2000, paid it off in 2014. For three of those years (2005-2007) we also had a car payment.)

How much do you make? Total between husband's jobs and my job/part time job is about $170,000

Hold old are you?  48/49

What is your occupation?  IT Manager/Administrative Assistant

Silverwood

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Re: How much debt do you have? Are you out of debt?
« Reply #61 on: July 12, 2014, 12:46:28 PM »
Am I out of debt: not even close

$222 204 left on the mortgage, $ 16 000 on line of credit

How long: I'll be working on this for years

Income: about 60 000 but take home is about 45 000 I like the first number better damn taxes

Job: I'm an aerospace manufacturing  tech.

Age: I'm 29

 

« Last Edit: July 12, 2014, 02:09:57 PM by Silverwood »

Wanderlusting

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Re: How much debt do you have? Are you out of debt?
« Reply #62 on: July 12, 2014, 02:05:34 PM »
Are you out of debt? Nope, paying off some outrageous student loans right now, no other debt otherwise, thankfully.

How long did it take you to get out of debt? I'm on path to be out of debt in about 3 years, hopefully less than that if I can bend the savings rate in my favor more.

How much do you make? Gross pay is about 30-32k a year

Hold old are you?  25

What is your occupation?  U.S Navy

twbird18

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Re: How much debt do you have? Are you out of debt?
« Reply #63 on: July 12, 2014, 05:33:13 PM »
I'm just curious...

Are you out of debt?
No,  $260K House @3.7%, $145K first house, now rental
$~11K student loands @2.5%
$8K CC & $12K business CC

How long did it take you to get out of debt?
I think we should have our houses paid of in ~10yrs. The CC debt is off & on, currently in the process of moving/changing jobs & selling a big chunk of our side business, which will pay of the CC in full - in the meantime we have temporarily stopped selling things until the sale goes through which has led to the build up in business CC debt. We charge all of our monthly expenses & typically pay off monthly though currently a little higher than normal due to these 2 events(moving/sell).


How much do you make?

$120K + DH $50K

Hold old are you?

35 & 32

What is your occupation?
Utilities/Government work

Freestyler

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Re: How much debt do you have? Are you out of debt?
« Reply #64 on: July 12, 2014, 06:14:32 PM »
I'm out of debt.

I've "never" been in debt: when I was 25 and had been working for a short while my impulsive then girlfriend (and the bike dealer) urged me to buy the motorbike that I had been longing for some time with a tiny loan (but with ridiculous interest) as "it would be more convenient" than depleting my cash... The loan and the impulsive girlfriend were gone in one year but I always tried not to ever do the same stupid mistake. Well, I had at least one other impulsive girlfriend afterwards.

In 2013 285k for me and 40k for DW. This was however significantly more than what I had previously made and I am going to pay crazy figures in taxes and social security, so after that it amounts to much less. Also, DW doesn´t work anymore and takes care of our toddler.

35 and 36.

I am a physician and DW is a nurse.

hybrid

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Re: How much debt do you have? Are you out of debt?
« Reply #65 on: July 13, 2014, 04:53:58 AM »
The OP just asked about debt, debt isn't intrinsically good or bad.  I'm finding it fascinating how many people say they're debt free when they carry debt.  Are they embarrassed that they make logical decisions that include holding debt to increase NW faster? The attitude of defending oneself as debt free is funny, some of the wealthiest people on here have the highest debts.

I bet Arebelspy has a lot, just a guess, and he's going to retire way before me. Debt has been very good for some.  MMM paid off his last debt 2 years after FIRE, a very smart strategy for his family.

I was questioning how one approaches the notion of debt in the first place, I don't understand why others have been quick to assume there is some sort of emotional baggage that comes with that.

Debt as defined in this thread directly affects cash flow. If you own a home (as most people that have replied do), then the monthly budget is taking a significant hit. A rental unit, as in my case, increases that outward cash flow. If my rental were empty I would surely be feeling that. And if you have cars or credit cards on top of that???

I contend that is certainly one way to look at things, and it has definitely impacted the way our family budget works. Rather than increase our investments, we have been aggressively retiring the mortgages, or getting "out of debt". Some would argue that with interest rates below 4% this is a fool's errand, I would counter that I already have enough (too much?) exposure to the stock market and this financially conservative play is prudent in our case.

On the other hand, I have been what I define as "in debt" before - having a net worth of less than zero. This changes how one approaches life dramatically compared to carrying mortgage balances but being significantly positive.  So, for me anyway, when someone talks about carrying debts I tend to subjectively define that as being financially underwater. Someone who bought a home in 2007, has 30,000 cash in the bank, but is still 100,000 underwater on their mortgage is in a far different position than a person with 3,000 in the bank but 100,000 equity in their home. The latter has options, the former has issues. Both are "in debt".

Gin1984

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Re: How much debt do you have? Are you out of debt?
« Reply #66 on: July 13, 2014, 06:47:11 AM »
Are you out of debt?  No, we have a thirty year mortgage (4.75) and we are four years in, a 15 year NYSERDA loan (3.5) to upgrade our water heaters/furnaces that we are 3.5 years into.  Two undergrad loans and two grad loans all deferred until we graduate.  My husband graduates before I do so his two grad loans and one undergrad will be paid off when he does (we have the money set aside).  I don't plan to ever be out of debt, I like using other people's money and leaving mine in the market.

How much do you make?  25K for self, 26K for husband

Hold old are you?  29 for self, 32 for husband

What is your occupation? Both of us are grad student

Cheddar Stacker

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Re: How much debt do you have? Are you out of debt?
« Reply #67 on: July 13, 2014, 07:30:20 AM »
Someone who bought a home in 2007, has 30,000 cash in the bank, but is still 100,000 underwater on their mortgage is in a far different position than a person with 3,000 in the bank but 100,000 equity in their home. The latter has options, the former has issues. Both are "in debt".

Hybrid, good distinction. Well said. While one is worse off, thay are both in debt, unless of course with the latter the house is worth $100k since that would result in a mortgage of $0.

Debt is not always bad, its a tool just like a chainsaw, you just have to be careful and learn how to use it properly so you don't chop off your legs.

KMMK

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Re: How much debt do you have? Are you out of debt?
« Reply #68 on: July 13, 2014, 07:34:25 AM »
Are you out of debt?
I was out of debt in 2008 when I sold my house. I was 31 years old. But then in 2012 we (now with my husband) went back into debt buying a car, then a condo in 2013.
We currently owe about $12,000 on the car and $159,000 on the condo, jointly. But we could pay off the car anytime and my investments are making way higher than the mortgage rate, so it makes financial sense to have debt. Neither of us have ever had credit card debt. He had a small amount of student loan debt when he was 18 and paid it off quickly. I've never had a student loan.

How long did it take you to get out of debt?
Basically it just required not owning a home. It's really easy to be debt free if you just rent.

How much do you make?
$120,000 or so combined now. But in the past it has been much lower.

Hold old are you?
Both 37

What is your occupation?
Skilled trades types of things - both required a 2 year college diploma.

P938LVR

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Re: How much debt do you have? Are you out of debt?
« Reply #69 on: July 13, 2014, 07:36:28 AM »
Are you out of debt?  No, we have a thirty year mortgage (4.75) and we are four years in, a 15 year NYSERDA loan (3.5) to upgrade our water heaters/furnaces that we are 3.5 years into.  Two undergrad loans and two grad loans all deferred until we graduate.  My husband graduates before I do so his two grad loans and one undergrad will be paid off when he does (we have the money set aside).  I don't plan to ever be out of debt, I like using other people's money and leaving mine in the market.

How much do you make?  25K for self, 26K for husband

Hold old are you?  29 for self, 32 for husband

What is your occupation? Both of us are grad student
May I ask what field you are both in?

Gin1984

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Re: How much debt do you have? Are you out of debt?
« Reply #70 on: July 13, 2014, 11:40:02 AM »
Are you out of debt?  No, we have a thirty year mortgage (4.75) and we are four years in, a 15 year NYSERDA loan (3.5) to upgrade our water heaters/furnaces that we are 3.5 years into.  Two undergrad loans and two grad loans all deferred until we graduate.  My husband graduates before I do so his two grad loans and one undergrad will be paid off when he does (we have the money set aside).  I don't plan to ever be out of debt, I like using other people's money and leaving mine in the market.

How much do you make?  25K for self, 26K for husband

Hold old are you?  29 for self, 32 for husband

What is your occupation? Both of us are grad students
May I ask what field you are both in?
Neuroscience.  My husband plans to teach and I plan to stick with research.  Obviously we would both like tenure track, but I can be happy in a research company (pharm/tox is a related field) and my husband can always find non-tenure teaching.  The fact that we don't know where we will be is why we are saving as much as we can. 

brooklynmoney

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Re: How much debt do you have? Are you out of debt?
« Reply #71 on: July 13, 2014, 11:54:28 AM »
I'm indebted to the bank for my condo mortgage to the tune of $310K. I could pay it off now, but I have no desire to do so. I do prepay principal every month and have been doing so for the 2 years I've had the mortgage. I plan to pay off the mortgage in 16 years.  I'm 40. I make as someone said above "more than enough" even for NYC.

mm1970

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Re: How much debt do you have? Are you out of debt?
« Reply #72 on: July 13, 2014, 08:43:23 PM »
Are you out of debt? No - mortgage is $450k

How long did it take you to get out of debt? - should be paid off in about 17 years

How much do you make? in excess of $200k combined

Hold old are you? 44/46

What is your occupation? both engineers (one with a PhD)


note: we are aggressively paying down our mortgage, and in fact have enough money in savings to pay it off, but prefer not to.

tanhanivar

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Re: How much debt do you have? Are you out of debt?
« Reply #73 on: July 13, 2014, 09:42:16 PM »
Are you out of debt? No - mortgage is $323K. No other debt.

How long did it take you to get out of debt?  I did have a small HECS (Higher Education Contribution Scheme) debt when I graduated uni but that was paid off in about four years with the mandatory repayments. The mortgage is scheduled to be repaid off in 25 years. I think I can comfortably do it in 10. Would like to make it less than that.

How much do you make? C. $110k per annum, including side-hustles.

Hold old are you? 34.

What is your occupation? Lawyer (public service).

horsepoor

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Re: How much debt do you have? Are you out of debt?
« Reply #74 on: July 13, 2014, 10:39:31 PM »
Plenty of debt, but most of it at low interest rates, fortunately.

$5K - credit card at 0% until next May (will pay off before then)
$27K-ish on student loan at fixed 1.875% - no rush to pay that off
$160K - current residence 3.5% fixed
$105K - previous residence/rental, currently up for sale.  6.375% interest, so really hoping to sell and get rid of that albatross
$10K - car note at 2.79%

Will hopefully be down to just the mortgage and student loan within a year or so, and don't plan to pay those off early (might fire a little extra at the mortgage, and kill the SLs when they're down to a few grand just because).


Sunnymo

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Re: How much debt do you have? Are you out of debt?
« Reply #75 on: July 13, 2014, 10:55:13 PM »
An Aussie here...

Are you out of debt?
No - mortgages over three properties = $400k Equity of $550k
Plus investment loan $55k secured over managed (mututal) funds worth $105k

How long did it take to get out of debt?
We aren't - see above. Plan is to have the mortgages cleared in next 15 years.
However, cards have been paid in full each month for over 10 years.
No car related debt in over 15 years, last 2 vehicles have been bought with cash.
I paid for two degrees as I went from part time work while living at home, graduating twice with no debt. DH didn't attend uni.

How much do you make?
Wages + rent + investment earnings = approx $180k a year

How old are you?
Me 43, DH 36

What is your occupation?
Me SAH (formerly a commercial banker), DH is a heavy equipment operator (trucks, graders, dozers) at an open cut coal mine

Cressida

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Re: How much debt do you have? Are you out of debt?
« Reply #76 on: July 13, 2014, 11:23:00 PM »
I've never had credit card debt. I have a mortgage.

I did have student loans, somewhere in the low $20Ks in total. I paid them off slowly (it should be obvious that I had not discovered Mustachianism) for about 12 years and then got a windfall: a bonus and a company stock buyout (our company was acquired, and I had received some shares and options as compensation) at around the same time that totaled around $14K. At the time that was slightly less than my outstanding loan balance so I paid it off all at once. That was about a year and a half ago.

I'm nearly 40 and work as an accountant (at the moment, around $75K gross). But I didn't always; I started in clerical and worked my way up. My salary was a lot lower prior to around 2009.

Lukim

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Re: How much debt do you have? Are you out of debt?
« Reply #77 on: July 13, 2014, 11:31:11 PM »
Are you out of debt - No, have a margin lending loan on a share portfolio.  The loan is $266,000 and the portfolio has a current value of $998,000.  The interest is relatively cheap at present. Could pay of the debt tomorrow but the tax advisor tells me to keep the loan.
No other debt.

Have had mortgages in the past but for the last 4 properties purchased / built, I have paid cash (in aggregate, about $1,600,000 but probably worth now about $2,500,000).

How much do you make - Self employed so it varies from year to year. Averages around $500,000.

How old are you - 55 and wife is 50 - so we have had plenty of time to get out of debt.

What is your occupation - a business consultant (I am qualified as a lawyer). Wife stays at home.


lysistrata

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Re: How much debt do you have? Are you out of debt?
« Reply #78 on: July 13, 2014, 11:51:54 PM »
Are you out of debt?
We've got a mortgage - currently $457k.
Husband has a $3k student loan which should be paid off next year. SL in NZ are interest-free, so no hurry to pay it off.

How long did it take to get out of debt?
My goal is to pay off the mortgage in 15 years.

How much do you make?
Between two of us - $125K. I'm aggressively pursuing a side-hustle right now that should add another $10k+ to our stashe.

How old are you?
Me 29, DH 38

What is your occupation?
I'm a writer, DH is a health and safety assessor.

Rodstar

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Re: How much debt do you have? Are you out of debt?
« Reply #79 on: July 14, 2014, 06:11:58 AM »
Are you out of debt?

Nope. $2,700,000 in investment mortgage debt.  Supported by $4,100,000 in property and $180,000 a year in rental income.

How long did it take you to get out of debt?
I'll let you know when I get there.  Planning on reducing as much debt over the next 4-5 years and then selling some property.

How much do you make?
$190,000 and $110,000

How old are you?
42 and 37

What is your occupation?
IT Consultant and Government Policy Analyst

zinethstache

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Re: How much debt do you have? Are you out of debt?
« Reply #80 on: July 19, 2014, 05:20:29 PM »
Are you out of debt?

Nope. I will steal the format for the poster above:)

$168k primary res. mortgage 3.875% home value $400k
$730k in investment mortgage debt.  Supported by just over $1M in rental property and $97k a year in rental income.
$12k car loan @2.89%

How long did it take you to get out of debt?
paid off LOC and CCs years ago, pay of rewards CC monthly.  Auto loan was taken because interest rate was too low to pass up, used that cash for investing $$.

How much do you make?
$115k and 97k

How old are you?
both 46

What is your occupation?
IT Lead Web Analyst and Property Investor

sekritdino

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Re: How much debt do you have? Are you out of debt?
« Reply #81 on: July 22, 2014, 12:36:27 AM »
Are you out of debt?

No, I have $11,200 left of my student loans, out of about $37k. Totally worth it. My CS degree got me a very lucrative job.

How long did it take you to get out of debt?

I started paying off my loans in February and expect to finish in October 2014. I max out my 401k, maxed out a 2013 traditional IRA, etc too.

How much do you make?

Base salary is $100,000 plus my on-hire stock award makes another $14k and has been growing so next year will be more. Bonuses are coming next month so yay!

How old are you?

27. Wish I had gotten the CS degree earlier. I got a BA in history my first time through college.

What is your occupation?

Software engineer
« Last Edit: July 22, 2014, 12:41:00 AM by sekritdino »

sekritdino

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Re: How much debt do you have? Are you out of debt?
« Reply #82 on: July 22, 2014, 12:46:39 AM »
How much do you make?

About $30,000 gross.  I need to figure out how people make money and get in on that.

Learn how to program. Seriously. Industry pays VERY well.

T-Rex

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Re: How much debt do you have? Are you out of debt?
« Reply #83 on: July 22, 2014, 01:17:39 AM »
I am out of debt, it took me about 4 years to pay my car loan. I make around $49K. 30 years old and in the military. I hated having a loan. I am not very happy with the idea of borrowing anymore.

parsimonious

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Re: How much debt do you have? Are you out of debt?
« Reply #84 on: July 22, 2014, 01:31:31 AM »
Debt?
None! Never had any besides the mortgage and we swore to always pay cash from now on. We are very debt adverse. Some of my motivation for marrying my husband was to avoid student loans. Luckily it worked out great. :)

How long did we have debt?
Closed October 2010, payed off this year. (Yes, buying the house and paying it off early during a bull market was retarded in retrospect - but this was after maxing out my 401k and both Roths)

How much was the debt?
After the down payment $144k

How old?
I'm 31

Occupation:
Night Shift Pharmacist & House Husband. I pull in $120k a year now
« Last Edit: July 22, 2014, 01:34:08 AM by parsimonious »

Dollarbill49

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Re: How much debt do you have? Are you out of debt?
« Reply #85 on: July 22, 2014, 06:45:15 AM »
Are you out of debt?
Yes

How long did it take you to get out of debt?
15 years for our mortgage.  Extinguished at age 49

How much do you make?
That's a matter between me and my employer

Hold old are you?
56

What is your occupation?
Finance/Accounting/Systems

Cap_Scarlet

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Re: How much debt do you have? Are you out of debt?
« Reply #86 on: July 22, 2014, 09:05:45 AM »
Are you out of debt?
Yes

How long did it take you to get out of debt?
That depends, it's gone up and down over the years but currently we have unmortgaged property will a value of about €850k (about $1.1 million)

How much do you make?
Last year was €550,000 before taxes and about €380,000 after taxes (or just over $500,000)

Hold old are you?
I am 49, my wife is 51.

What is your occupation?
I'm an accountant.