Author Topic: Defeat the Net Debt  (Read 57189 times)

joe189man

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Re: Defeat the Net Debt
« Reply #300 on: March 10, 2021, 05:12:31 PM »
Wow this is a sobering, sad and interesting exercise

Numbers as of 3/10/2021

Net Debt:
Mortgage           ($427,242.21) - (30 year at 2.875%)
Student Loan 1      ($6,750.34)
Student Loan 2     ($25,323.95)
Car Loan              ($16,710.40)
Total                ($476,026.90)

Assets:
Brokerage               $1,049.24 - (just opened in the last few weeks)
Emergency Fund    $20,000.00
Cash                       $5,400.00 - (to be used to pay off the Student Loan 1 in a large chunk)
Total                    $26,449.24

Net Debt:           ($449,577.66)

Retirement:         $431,363.43

Net All:               ($18,214.23)

Net incl. House: ~$598,731.00

hmmm.... I thought we were doing ok, maybe we have some a lot of work to do


Dicey

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Re: Defeat the Net Debt
« Reply #301 on: March 11, 2021, 11:56:13 AM »
Wow this is a sobering, sad and interesting exercise
Beg to differ with you, joe. This is a great exercise, but just one metric. The curve seems steep, but good earning/saving/investing habits definitely snowball. Keep at it and success will come. When it does, you'll be shocked at how your NW continues to grow blow up.

This is one of my favorite threads. I salute all of you who are fighting the good fight. Keep on keeping on. It is absolutely worth it.

frugalecon

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Re: Defeat the Net Debt
« Reply #302 on: March 11, 2021, 01:26:11 PM »
Wow this is a sobering, sad and interesting exercise
Beg to differ with you, joe. This is a great exercise, but just one metric. The curve seems steep, but good earning/saving/investing habits definitely snowball. Keep at it and success will come. When it does, you'll be shocked at how your NW continues to grow blow up.

This is one of my favorite threads. I salute all of you who are fighting the good fight. Keep on keeping on. It is absolutely worth it.

I heartily endorse Dicey's comments! Even though my net debt is now defeated, I still read the thread to cheer on others who are still on the journey.

joe189man

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Re: Defeat the Net Debt
« Reply #303 on: March 11, 2021, 01:58:00 PM »
Wow this is a sobering, sad and interesting exercise
Beg to differ with you, joe. This is a great exercise, but just one metric. The curve seems steep, but good earning/saving/investing habits definitely snowball. Keep at it and success will come. When it does, you'll be shocked at how your NW continues to grow blow up.

This is one of my favorite threads. I salute all of you who are fighting the good fight. Keep on keeping on. It is absolutely worth it.

I heartily endorse Dicey's comments! Even though my net debt is now defeated, I still read the thread to cheer on others who are still on the journey.

I think you're right, its not sad, sobering yes, and a great way to think about where we really are in this journey, Onward we go
« Last Edit: March 12, 2021, 09:29:52 AM by joe189man »

talltexan

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Re: Defeat the Net Debt
« Reply #304 on: March 15, 2021, 06:51:07 AM »
Did I read correctly that someone scored a 15-year mortgage at 1.75% rate?

That is fantastic, 100 bps below mine (although I have a 30 year term). Treasury yields spiked above 1.6% last week, you may soon be able to lap your mortgage by buying rock-solid bonds and pocketing the spread.

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #305 on: March 15, 2021, 07:00:16 AM »
March Update:

Debts:
$15000 > $15100
$129700 > $129400
$157100> $155700
$249900 > $249900

Assets:
$208700 > $216900
$193600 > $205700

Totals $422600 - $550100 = -$127500

Leaps and bounds. Just hired a contractor to restore the house from its current semi-squallor to something more in line with the average home. About to see a 150k hit come through, and the equivalent increase in house value will not show up in these numbers. I guess it's New Game + once again?

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500

TyGuy

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Re: Defeat the Net Debt
« Reply #306 on: March 15, 2021, 12:06:29 PM »
Did I read correctly that someone scored a 15-year mortgage at 1.75% rate?

That is fantastic, 100 bps below mine (although I have a 30 year term). Treasury yields spiked above 1.6% last week, you may soon be able to lap your mortgage by buying rock-solid bonds and pocketing the spread.

You read that correctly, market rates and credit score created an ideal environment to refinance. I will definitely keep on eye on the treasury yields, may become a good avenue to store/invest my emergency fund!

terrifictim

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Re: Defeat the Net Debt
« Reply #307 on: March 16, 2021, 02:13:27 PM »
Saw this thread from DPOYM Club and thought I would join as well for motivation:

10/1/18 Net Debt*: 5,445
* Did not account for Rental Property Mortgage
4/1/19 Net Debt: 185,050
6/1/19 Net Debt: 166,092
8/1/19 Net Debt: 95,675
6/1/20 Net Debt: 40,875
10/1/20 Net Debt: 9,254 NET DEBT DEFEATED (LEVEL 1)!

NET DEBT DEFEATED (LEVEL 1.1)!
11/24/20
Net Debt (Including Cash/EF): 49,456
Net Debt (Excluding Cash/EF): 3,058

To keep myself motivated I'm putting some sub steps in between level 1 and level 2 of the net debt defeat.  Beating Level 1.1 means that I could defeat my Net Debt and still keep my EF fully funded. The remaining steps:
Level 1.0 - All my liquid money (Pre-Tax, Post-Tax, After-Tax, Emergency Fund) can pay off all debts. Doing this would leave me broke but with 2 paid off properties. - Reached 10/1/20
Level 1.1 - Most of my liquid money (Pre-Tax, Post-Tax,  After-Tax) can pay off all debts. Doing this would leave me with an Emergency Fund and with 2 paid off properties. - Reached 11/24/20
Level 1.2 - Some of my liquid money (Post-Tax,  After-Tax) can pay off all debts. Doing this would leave me with most of my retirement (Pre-Tax), Emergency Fund, and paid off properties.
Level 2.0 - After-Tax money can pay off all debts. At this point I can decide whether to get rid of the debts in one shot or keep them going and keep adding to the investments.

NET DEBT OBLITERATED (Temporarily)!
3/16/21
Net Debt: 454,012
Ended up selling our investment property  based on the recommendations of the forum (was nowhere near 1% but had some great appreciation). Instead of having a mortgage of $200k, now have no mortgage and additional cash of $150k! I do anticipate that we are going to have to purchase our next place in a year or 2 (current living space isn't going to work for our growing family), and will end up being back in the red. For now just enjoying the peace of mind that comes knowing we could pay off all debts and still have plenty to live on if we had to.

Wile E. Coyote

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Re: Defeat the Net Debt
« Reply #308 on: March 16, 2021, 03:59:07 PM »
I'm not sure how I missed this thread.  I really like the idea and it has been fun to read through everyone's journey.  I went back through some of my spreadsheets and pulled together what I would have posted had I found this thread in 2018 and will update as I go:

Date Taxable    Debt Net Debt
7/19/18 188,396 (411,531) (223,135)
11/30/18 170,091 (410,692) (240,601)
4/20/19 213,783 (455,927) (242,144)
9/7/19 161,458 (427,394) (265,937)
10/29/19 168,049 (431,419) (263,370)
3/23/20 128,735 (363,541) (234,805)
6/23/20 170,776 (288,434) (117,657)
11/16/20 146,290 (269,851) (123,561)
1/8/21 155,006 (264,053) (109,047)
1/21/21 183,736 (263,886) (80,150)
3/15/21 203,424 (259,029) (55,605)

Taxable includes bank account and taxable investment accounts.  Debt includes all debt (mortgage, HELOC, CC even though balance paid in full each month, Student Loans).  Not all that interesting now that I look at it, but I look forward to eliminating the Net Debt.

frugalecon

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Re: Defeat the Net Debt
« Reply #309 on: March 16, 2021, 06:53:27 PM »
I'm not sure how I missed this thread.  I really like the idea and it has been fun to read through everyone's journey.  I went back through some of my spreadsheets and pulled together what I would have posted had I found this thread in 2018 and will update as I go:

Date Taxable    Debt Net Debt
7/19/18 188,396 (411,531) (223,135)
11/30/18 170,091 (410,692) (240,601)
4/20/19 213,783 (455,927) (242,144)
9/7/19 161,458 (427,394) (265,937)
10/29/19 168,049 (431,419) (263,370)
3/23/20 128,735 (363,541) (234,805)
6/23/20 170,776 (288,434) (117,657)
11/16/20 146,290 (269,851) (123,561)
1/8/21 155,006 (264,053) (109,047)
1/21/21 183,736 (263,886) (80,150)
3/15/21 203,424 (259,029) (55,605)

Taxable includes bank account and taxable investment accounts.  Debt includes all debt (mortgage, HELOC, CC even though balance paid in full each month, Student Loans).  Not all that interesting now that I look at it, but I look forward to eliminating the Net Debt.

Not all that interesting? Dude, youíre knocking down your net debt like a rock star! (Well, if rock stars knocked down net debt, which they probably donít.)

Morning Glory

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Re: Defeat the Net Debt
« Reply #310 on: March 17, 2021, 11:39:59 AM »

August 2018
Mortgage: -216,524 (30 yr at 3.75%)
Taxable: 113,056
Net debt equals -103,468

February 2019
Mortgage: -211,575
Taxable: 107,649
Net debt is -103,926

Also February 2019
Mortgage: 210,176
Taxable: 123,907
Net Debt: -86,269

January 2020
Mortgage -202,002
Taxable 132,135
Net Debt -69,867

August 2020
Mortgage: 202,541
Taxable: 146,264
Net Debt: -56,277

December 2020
Mortgage 198,930
Taxable: 163,567
Net Debt: -35,363

January 2021
Mortgage: -198,022
Taxable: 169,263
Net Debt: -28,759

Getting really close!!!

March 2021
Mortgage: -196,197
Taxable: 183,236
Net Debt: -12,961

Covid bucks arrived today, bust I'm sticking them in a savings account because one of our vehicles needs to be replaced soon. We are planning to downsize the house, so I'm interested to see if the net debt gets defeated before or after that happens.

Dutch Comfort

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Re: Defeat the Net Debt
« Reply #311 on: April 02, 2021, 03:09:53 AM »
Mortgage (EUR 328K)
Liquid Assets (without house value & company pension) EUR 41K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)


Goal for 2021: (EUR 270K)......

Slowly but surely...... Filed our tax return and expect a nice refund which will be directed towards the mortgage. This will help in getting the net debt position down a little towards the 2021 goal!
« Last Edit: April 09, 2021, 03:33:25 AM by Dutch Comfort »

joe189man

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Re: Defeat the Net Debt
« Reply #312 on: April 02, 2021, 09:15:21 AM »
Wow this is a sobering, sad and interesting exercise

Numbers as of 3/10/2021

Net Debt:
Mortgage           ($427,242.21) - (30 year at 2.875%)
Student Loan 1      ($6,750.34)
Student Loan 2     ($25,323.95)
Car Loan              ($16,710.40)
Total                ($476,026.90)

Assets:
Brokerage               $1,049.24 - (just opened in the last few weeks)
Emergency Fund    $20,000.00
Cash                       $5,400.00 - (to be used to pay off the Student Loan 1 in a large chunk)
Total                    $26,449.24

Net Debt:           ($449,577.66)

Retirement:         $431,363.43

Net All:               ($18,214.23)

Net incl. House: ~$598,731.00

hmmm.... I thought we were doing ok, maybe we have some a lot of work to do

April 2021 update
Net Debt: -$474,369 + $27,063 = -$447,306 (+$2,272) - Our debt is "large" but mostly mortgage and very low interest balances, adding ~$600 a month to brokerage
Net All: -$474,369 + $472,057 = -$2,312 (+$15,902) - Our focus is maxing out 401ks and HSAs
Net incl. House: ~$614k (+~$15k)
« Last Edit: April 02, 2021, 09:55:50 AM by joe189man »

TyGuy

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Re: Defeat the Net Debt
« Reply #313 on: April 04, 2021, 01:41:41 PM »
Debts:
Mortgage: 248,656

Student Loans: 21,456 (Can defer interest free until at least September)


Assets:
Savings: $1,000
Taxable 1: $4,340
Taxable 2: $2,211


Net Debt: Dec 2020 (261,341)
               Mar 2021 (263,803)
               APR 2021 (262,561)

Kierun

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Re: Defeat the Net Debt
« Reply #314 on: April 08, 2021, 02:37:24 PM »
10/20 - ~(508k)
11/20 - ~(495k)
12/20 - ~(475k)
01/21 - ~(472k)
02/21 - ~(466k)
03/21
Mortgage: ~355k
Mortgage: ~344k

Taxable: ~231k

Net: ~(467k)
04/21
Mortgage: ~353k
Mortgage: ~343k

Taxable: ~243k

Net: ~(453k)

Goal for 2021: Net ~(115k)

talltexan

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Re: Defeat the Net Debt
« Reply #315 on: April 12, 2021, 09:31:35 AM »
Mortgage (EUR 328K)
Liquid Assets (without house value & company pension) EUR 41K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)


Goal for 2021: (EUR 270K)......

Slowly but surely...... Filed our tax return and expect a nice refund which will be directed towards the mortgage. This will help in getting the net debt position down a little towards the 2021 goal!

I don't know what your rate is on that mortgage, but I'd encourage you to ponder how you could add that tax return into your asset stack rather than paying down the mortgage.

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #316 on: April 15, 2021, 07:48:25 AM »
April Update:

Debts:
$15100 > $15200
$129400 > $129200
$155700> $155700
$249900 > $249900

Assets:
$216900 > $218500
$205700 > $211900

Totals $430400 - $550000 = -$119600

Zop zip.

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600


talltexan

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Re: Defeat the Net Debt
« Reply #317 on: April 19, 2021, 06:36:03 AM »
Making excellent progress...it looks like two of your large debts don't move down in principal at all...are those student loans that are temp "paused"?

An Unassuming Moose

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Re: Defeat the Net Debt
« Reply #318 on: April 19, 2021, 09:47:56 AM »
Making excellent progress...it looks like two of your large debts don't move down in principal at all...are those student loans that are temp "paused"?

Those, and in fact all four of my debts, are actually revolving credit and private interest-only loans that I'm using to invest. The largest one is actually my house, which I'm currently putting all my money into renovating. Contractor is coming in in the next few weeks to finish the job I started, then I'll be hit with a massive bill. I expect to nearly double the value of the house though, and then sell or partially rent it, as it's becoming a duplex. I know that's insane appreciation, but I bought it severely depreciated two years ago and based on its neighbours I shouldn't be too far off.
So my debts are not really moving, but they are counterbalanced by assets that are performing quite well. Pretty much all growth since April 2020 has been through appreciation only, as I've put basically no new money in (it's gone towards a speculative angel investment which I don't count as part of my net worth and towards saving for the contractor).
The current plan is basically to finish the house, then get hit by a $180k bill which will directly increase my debt and set me back severely in this particular race since the house value doesn't count. After that, either cash in the house for $480k or better, or receive a $2000 monthly revenue from rental while negating my housing costs. Either way, I'm then free to put my cash flow against debt and deleverage. By the time I'm done deleveraging, I should be FI.

talltexan

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Re: Defeat the Net Debt
« Reply #319 on: April 26, 2021, 07:48:04 AM »
Making excellent progress...it looks like two of your large debts don't move down in principal at all...are those student loans that are temp "paused"?


So my debts are not really moving, but they are counterbalanced by assets that are performing quite well. Pretty much all growth since April 2020 has been through appreciation only, as I've put basically no new money in (it's gone towards a speculative angel investment which I don't count as part of my net worth and towards saving for the contractor).
The current plan is basically to finish the house, then get hit by a $180k bill which will directly increase my debt and set me back severely in this particular race since the house value doesn't count. After that, either cash in the house for $480k or better, or receive a $2000 monthly revenue from rental while negating my housing costs. Either way, I'm then free to put my cash flow against debt and deleverage. By the time I'm done deleveraging, I should be FI.

It sounds like you are very well in tune with the spirit of this thread. Keep us posted!

Morning Glory

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Re: Defeat the Net Debt
« Reply #320 on: April 26, 2021, 05:09:34 PM »

August 2018
Mortgage: -216,524 (30 yr at 3.75%)
Taxable: 113,056
Net debt equals -103,468

February 2019
Mortgage: -211,575
Taxable: 107,649
Net debt is -103,926

Also February 2019
Mortgage: 210,176
Taxable: 123,907
Net Debt: -86,269

January 2020
Mortgage -202,002
Taxable 132,135
Net Debt -69,867

August 2020
Mortgage: 202,541
Taxable: 146,264
Net Debt: -56,277

December 2020
Mortgage 198,930
Taxable: 163,567
Net Debt: -35,363

January 2021
Mortgage: -198,022
Taxable: 169,263
Net Debt: -28,759

Getting really close!!!

March 2021
Mortgage: -196,197
Taxable: 183,236
Net Debt: -12,961


Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

Arbitrage

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Re: Defeat the Net Debt
« Reply #321 on: April 26, 2021, 06:31:29 PM »
As promised after buying a second house...numbers from January to today.

Mortgages/HELOC: $(372.0k) -> $(1,067k)
Student Loan: $(27.1k) -> $(26.3k)
Taxable: $313.3k -> $273.2k

Net: $(85.8k) -> $(820.1k)

Jan 2019: ($290.2k)
Apr 2019: ($278.4k)
Sep 2019: ($248.7k)
Dec 2019: ($217.3k)
Jul 2020: ($191.8k)
Jan 2021: ($85.8k)
Apr 2021: ($820.1k)

Dayum.  Putting our current house on the market in a couple of months, so hopefully I'll have good news before too long.

Wile E. Coyote

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Re: Defeat the Net Debt
« Reply #322 on: April 26, 2021, 08:17:50 PM »
Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

Congratulations!!🎉 That must feel great!

joe189man

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Re: Defeat the Net Debt
« Reply #323 on: April 26, 2021, 09:31:59 PM »

Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

congrats that's awesome

Tester

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Re: Defeat the Net Debt
« Reply #324 on: April 27, 2021, 02:02:06 AM »
Posting to keep track.

I will post some other numbers besides this thread target to make me feel better :-).

Debt: 483k, mortgage.

Net worth, including house estimated price:
503k.

Invested, including tax advantaged:
277k.

-206k

After tax:
68k.

-415k.


A looooong way to go, I kind of plan to kill this last numbee in 4 years.

It's a long way to the top if you want to rock and roll :-P.

frugalecon

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Re: Defeat the Net Debt
« Reply #325 on: April 27, 2021, 06:25:49 PM »

August 2018
Mortgage: -216,524 (30 yr at 3.75%)
Taxable: 113,056
Net debt equals -103,468

February 2019
Mortgage: -211,575
Taxable: 107,649
Net debt is -103,926

Also February 2019
Mortgage: 210,176
Taxable: 123,907
Net Debt: -86,269

January 2020
Mortgage -202,002
Taxable 132,135
Net Debt -69,867

August 2020
Mortgage: 202,541
Taxable: 146,264
Net Debt: -56,277

December 2020
Mortgage 198,930
Taxable: 163,567
Net Debt: -35,363

January 2021
Mortgage: -198,022
Taxable: 169,263
Net Debt: -28,759

Getting really close!!!

March 2021
Mortgage: -196,197
Taxable: 183,236
Net Debt: -12,961


Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

Morning Glory, you were the third person to post on this thread! It is AWESOME to see you here reporting the defeat of the net debt! I am so glad that I started this thread, so that we could cheer each other on!

Dutch Comfort

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Re: Defeat the Net Debt
« Reply #326 on: May 03, 2021, 04:48:37 AM »
Mortgage (EUR 328K)
Liquid Assets (without house value & company pension) EUR 43K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)

Goal for 2021: (EUR 270K)......

Again: nice and steady. Waiting for the tax refunds......
@talltexan, we're putting a fixed yearly additional payment to the mortgage (cannot repay more according to the (pre-MMM)contract), everything left after this is put to our assets. So around EUR 3.5K of the refunds will be put to the mortgage. Any additional refunds will be put to savings.

talltexan

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Re: Defeat the Net Debt
« Reply #327 on: May 03, 2021, 09:08:59 AM »
Good work!

We're getting a modest tax refund this year, I should apply it to our balance sheet right away

Morning Glory

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Re: Defeat the Net Debt
« Reply #328 on: May 03, 2021, 04:20:16 PM »
Thanks @frugalecon !!!

joe189man

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Re: Defeat the Net Debt
« Reply #329 on: May 04, 2021, 09:23:10 AM »
Net Debt:
Mortgage           ($427,242.21) - (30 year at 2.875%)
Student Loan 1      ($6,750.34)
Student Loan 2     ($25,323.95)
Car Loan              ($16,710.40)
Total                ($476,026.90)

Assets:
Brokerage               $1,049.24
Emergency Fund    $20,000.00
Cash                       $5,400.00
Total                    $26,449.24

Retirement:  $431,363.43

March 2021    
Net Debt: -$476,026.90 + $26,449.24 = -$449,577.66
Net All:  -$476,026.90 + $431,363.43 + 26,449.24 = -$18,214.23
Net incl. House: ~$598,731.00

April 2021 update
Net Debt: -$474,369 + $27,063 = -$447,306 (+$2,272)
Net All: -$474,369 + $444,994 + $27,063   = -$2,312 (+$15,902)
Net incl. House: ~$614k (+~$15k)

May 2021 Update
Net Debt: -$472,153 + $21,168 = -$450,985 (-$3,679) - Taxes were brutal this year
Net All: -$472,153 + $461598 + $21,168  = $10,613 (+12,925) - Positive overall
Net incl. House: ~$633k
« Last Edit: May 10, 2021, 08:24:04 AM by joe189man »

TyGuy

  • Stubble
  • **
  • Posts: 157
  • Age: 27
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #330 on: May 04, 2021, 10:37:36 AM »

August 2018
Mortgage: -216,524 (30 yr at 3.75%)
Taxable: 113,056
Net debt equals -103,468

February 2019
Mortgage: -211,575
Taxable: 107,649
Net debt is -103,926

Also February 2019
Mortgage: 210,176
Taxable: 123,907
Net Debt: -86,269

January 2020
Mortgage -202,002
Taxable 132,135
Net Debt -69,867

August 2020
Mortgage: 202,541
Taxable: 146,264
Net Debt: -56,277

December 2020
Mortgage 198,930
Taxable: 163,567
Net Debt: -35,363

January 2021
Mortgage: -198,022
Taxable: 169,263
Net Debt: -28,759

Getting really close!!!

March 2021
Mortgage: -196,197
Taxable: 183,236
Net Debt: -12,961


Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

Congrats, this is a huge milestone!!

TyGuy

  • Stubble
  • **
  • Posts: 157
  • Age: 27
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #331 on: May 04, 2021, 10:57:18 AM »
Debts:
Mortgage: 247,425

Student Loans: 21,456 (Can defer interest free until at least September)


Assets:
Savings: $1,000
Taxable 1: $4,491
Taxable 2: $2,145


Net Debt: Dec 2020 (261,341)
               Mar 2021 (263,803)
               APR 2021 (262,561)
               MAY 2021 (261,245)

Net debt is now less than it was when I refinanced my home loan in January, slow progress as I continue to max out my taxable accounts for 2021.

Kierun

  • Pencil Stache
  • ****
  • Posts: 589
  • Location: HI
Re: Defeat the Net Debt
« Reply #332 on: May 09, 2021, 08:30:18 PM »
11/20 - ~(495k)
12/20 - ~(475k)
01/21 - ~(472k)
02/21 - ~(466k)
03/21 - ~(467k)
04/21
Mortgage: ~353k
Mortgage: ~343k

Taxable: ~243k

Net: ~(453k)
05/21
Mortgage: ~352k
Mortgage: ~343k

Taxable: ~252k

Net: ~(443k)

Goal for 2021: Net ~(115k)

Wile E. Coyote

  • Bristles
  • ***
  • Posts: 268
Re: Defeat the Net Debt
« Reply #333 on: May 10, 2021, 12:13:44 PM »
Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

Congratulations Morning Glory!  It's so great to see people successfully defeat the net debt!!

Wile E. Coyote

  • Bristles
  • ***
  • Posts: 268
Re: Defeat the Net Debt
« Reply #334 on: May 10, 2021, 12:16:45 PM »
Updating to track progress.  Getting closer!

Date Taxable    Debt Net Debt
7/19/18 188,396 (411,531) (223,135)
11/30/18 170,091 (410,692) (240,601)
4/20/19 213,783 (455,927) (242,144)
9/7/19 161,458 (427,394) (265,937)
10/29/19 168,049 (431,419) (263,370)
3/23/20 128,735 (363,541) (234,805)
6/23/20 170,776 (288,434) (117,657)
11/16/20 146,290 (269,851) (123,561)
1/8/21 155,006 (264,053) (109,047)
1/21/21 183,736 (263,886) (80,150)
3/15/21 203,424 (259,029) (55,605)
5/10/21 226,955 (254,851) (27,896)
« Last Edit: May 10, 2021, 12:18:34 PM by Wile E. Coyote »

Morning Glory

  • Magnum Stache
  • ******
  • Posts: 3106
  • Location: The Garden Path
Re: Defeat the Net Debt
« Reply #335 on: May 16, 2021, 09:15:57 PM »
Net Debt has been defeated today!!!! House goes on the market Saturday.

April 2021
Mortgage: -195,408
Taxable: 195,475

Congratulations Morning Glory!  It's so great to see people successfully defeat the net debt!!

Aww thanks. It's a funny coincidence that we sold the house immediately after hitting this milestone! I've already made my last mortgage payment. Going to rent for a bit while we figure out a location to retire to.

An Unassuming Moose

  • 5 O'Clock Shadow
  • *
  • Posts: 64
  • Age: 28
  • Location: Variable
Re: Defeat the Net Debt
« Reply #336 on: May 24, 2021, 06:54:19 AM »
May Update:

Debts:
$15200 > $15200
$129200 > $129000
$0 > $150000
$155700> $155000
$249900 > $250000

Assets:
$218500 > $233000
$211900 > $207200

Totals $440200 - $699200 = -$259000

Right. So the bloodbath has begun, but it's intentional and calculated, so we're not actually worried, are we? I mean, we've been in way worse shape before...

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000

Dicey

  • Senior Mustachian
  • ********
  • Posts: 16592
  • Age: 63
  • Location: NorCal
Re: Defeat the Net Debt
« Reply #337 on: May 24, 2021, 09:23:55 AM »
May Update:

Debts:
$15200 > $15200
$129200 > $129000
$0 > $150000
$155700> $155000
$249900 > $250000

Assets:
$218500 > $233000
$211900 > $207200

Totals $440200 - $699200 = -$259000

Right. So the bloodbath has begun, but it's intentional and calculated, so we're not actually worried, are we? I mean, we've been in way worse shape before...

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000

Hey, happy birthday!

By "bloodbath" are you referring to the cost of renovations or birthday bacchanalia?

An Unassuming Moose

  • 5 O'Clock Shadow
  • *
  • Posts: 64
  • Age: 28
  • Location: Variable
Re: Defeat the Net Debt
« Reply #338 on: May 25, 2021, 08:59:38 AM »
May Update:

Debts:
$15200 > $15200
$129200 > $129000
$0 > $150000
$155700> $155000
$249900 > $250000

Assets:
$218500 > $233000
$211900 > $207200

Totals $440200 - $699200 = -$259000

Right. So the bloodbath has begun, but it's intentional and calculated, so we're not actually worried, are we? I mean, we've been in way worse shape before...

Past history:
Spoiler: show
Sept 2019: $318800
Oct 2019: $306600
Nov 2019: $296300
Jan 2020: $289200
Feb 2020: $286600
Mar 2020: $328700
April 2020: $314500
May 2020: $324200
June 2020: $292400
July 2020: $280300
August 2020: $269800
September 2020: $254500
October 2020: $265200
November 2020: $244600
December 2020: $225500
January 2021: $153000
February 2021: $149500
March 2021: $127500
April 2021: $119600
May 2021: $259000

Hey, happy birthday!

By "bloodbath" are you referring to the cost of renovations or birthday bacchanalia?

Thanks! In this case it's mostly about the construction, though once this eternal lockdown ends I do plan on catching up on a year and a half of celebrations. I wouldn't count out the raucous merrymaking just yet.

Dutch Comfort

  • Stubble
  • **
  • Posts: 154
  • Location: Europe
Re: Defeat the Net Debt
« Reply #339 on: June 01, 2021, 01:36:59 AM »
Mortgage (EUR 325K)
Liquid Assets (without house value & company pension) EUR 46K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)

Goal for 2021: (EUR 270K)......

A very good month. Tax and insurance refunds were received, holiday pay was received, so a nice increase in savings and a nice decrease of our mortgage. Both add up!
Just 9K to go for my 2021 goal. I'm already happy with my progress in 1 year. EUR 35K of net debt defeated.......
When I include our house value / pensions we crossed a net worth of EUR 400K..... Can't imagine......

Wile E. Coyote

  • Bristles
  • ***
  • Posts: 268
Re: Defeat the Net Debt
« Reply #340 on: June 02, 2021, 09:39:55 PM »
Slid backward quite a bit over the last few weeks as I paid some taxes and funded my solo401(k) for last year.  Hoping to make up for that this month!

Date Taxable    Debt Net Debt
7/19/18 188,396 (411,531) (223,135)
11/30/18 170,091 (410,692) (240,601)
4/20/19 213,783 (455,927) (242,144)
9/7/19 161,458 (427,394) (265,937)
10/29/19 168,049 (431,419) (263,370)
3/23/20 128,735 (363,541) (234,805)
6/23/20 170,776 (288,434) (117,657)
11/16/20 146,290 (269,851) (123,561)
1/8/21 155,006 (264,053) (109,047)
1/21/21 183,736 (263,886) (80,150)
3/15/21 203,424 (259,029) (55,605)
5/10/21 226,955 (254,851) (27,896)
6/1/21 184,221 (253,871) (69,651)

joe189man

  • Bristles
  • ***
  • Posts: 464
Re: Defeat the Net Debt
« Reply #341 on: June 03, 2021, 08:56:24 AM »
March 2021    
Net Debt: -$476,026.90 + $26,449.24 = -$449,577.66
Net All:  -$476,026.90 + $431,363.43 + 26,449.24 = -$18,214.23
Net incl. House: ~$598,731.00

April 2021 update
Net Debt: -$474,369 + $27,063 = -$447,306 (+$2,272)
Net All: -$474,369 + $444,994 + $27,063   = -$2,312 (+$15,902)
Net incl. House: ~$614k (+~$15k)

May 2021 Update
Net Debt: -$472,153 + $21,168 = -$450,985 (-$3,679) - Taxes were brutal this year
Net All: -$472,153 + $461,598 + $21,168  = $10,613 (+12,925) - Positive overall
Net incl. House: ~$633k

This is my 300th post

June 2021 Update
Net Debt: -$461,929 + $20,887 = -$441,042 (+$9,943)
Net All: -$461,929 + $493,133 = $31,841 (+$21,228)
Net incl. House: ~$650k

TyGuy

  • Stubble
  • **
  • Posts: 157
  • Age: 27
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #342 on: June 06, 2021, 08:15:09 PM »
Debts:
Mortgage: 246,192

Student Loans: 21,456 (Currently in Forbearance)


Assets:
Savings: $1,000
Taxable 1: $4,597
Taxable 2: $1,895


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)

The tax advantage accounts are almost full for the year, excited to start adding to the taxable accounts again!

Dicey

  • Senior Mustachian
  • ********
  • Posts: 16592
  • Age: 63
  • Location: NorCal
Re: Defeat the Net Debt
« Reply #343 on: June 06, 2021, 09:53:06 PM »
March 2021    
Net Debt: -$476,026.90 + $26,449.24 = -$449,577.66
Net All:  -$476,026.90 + $431,363.43 + 26,449.24 = -$18,214.23
Net incl. House: ~$598,731.00

April 2021 update
Net Debt: -$474,369 + $27,063 = -$447,306 (+$2,272)
Net All: -$474,369 + $444,994 + $27,063   = -$2,312 (+$15,902)
Net incl. House: ~$614k (+~$15k)

May 2021 Update
Net Debt: -$472,153 + $21,168 = -$450,985 (-$3,679) - Taxes were brutal this year
Net All: -$472,153 + $461,598 + $21,168  = $10,613 (+12,925) - Positive overall
Net incl. House: ~$633k

This is my 300th post*

June 2021 Update
Net Debt: -$461,929 + $20,887 = -$441,042 (+$9,943)
Net All: -$461,929 + $493,133 = $31,841 (+$21,228)
Net incl. House: ~$650k
*Congratulations! You'll probably hit $1M before you hit Walrus status, lol. Keep up the good work!

Simpli-Fi

  • Bristles
  • ***
  • Posts: 254
Re: Defeat the Net Debt
« Reply #344 on: June 07, 2021, 07:30:10 AM »
Mortgage (rental) 385k
Vanguard brokerage 773k

388k

Looking to Buy a primary home in 2020...good challenge to stay net positive.
Mortgage (rental) 376k
Mortgage (primary) 497k
Total debt 873k

Crypto 1k
Individual stocks 1.2k
Vanguard brokerage (index) 940k

Debt defeated with market gains in 2021: 69.2k

Kierun

  • Pencil Stache
  • ****
  • Posts: 589
  • Location: HI
Re: Defeat the Net Debt
« Reply #345 on: June 12, 2021, 04:38:22 PM »
12/20 - ~(475k)
01/21 - ~(472k)
02/21 - ~(466k)
03/21 - ~(467k)
04/21 - ~(453k)
05/21
Mortgage: ~352k
Mortgage: ~343k

Taxable: ~252k

Net: ~(443k)
06/21
Mortgage: ~350k
Mortgage: ~342k

Taxable: ~253k

Net: ~(439k)

Goal for 2021: Net ~(115k)

Dutch Comfort

  • Stubble
  • **
  • Posts: 154
  • Location: Europe
Re: Defeat the Net Debt
« Reply #346 on: July 01, 2021, 02:41:23 AM »
Mortgage (EUR 323K)
Liquid Assets (without house value & company pension) EUR 47K

Net debt
July 2020 (EUR 314K) - started tracking
December 2020 (EUR 293K)

January 2021 (EUR 291K)
February 2021 (EUR 289K)
March 2021 (EUR 287K)
April 2021 (EUR 285K)
May 2021 (EUR 279K)
June 2021 (EUR 276K)

Goal for 2021: (EUR 270K)......

Still on track for the 2021 goal!

Wile E. Coyote

  • Bristles
  • ***
  • Posts: 268
Re: Defeat the Net Debt
« Reply #347 on: July 02, 2021, 09:08:26 PM »
Back on track in June! Phew!  Still a little ways to go, but getting there.  Assuming that I can close on a deal to sell my rental property in July, the net debt will be demolished!

Date Taxable    Debt Net Debt
7/19/18 188,396 (411,531) (223,135)
11/30/18 170,091 (410,692) (240,601)
4/20/19 213,783 (455,927) (242,144)
9/7/19 161,458 (427,394) (265,937)
10/29/19 168,049 (431,419) (263,370)
3/23/20 128,735 (363,541) (234,805)
6/23/20 170,776 (288,434) (117,657)
11/16/20 146,290 (269,851) (123,561)
1/8/21 155,006 (264,053) (109,047)
1/21/21 183,736 (263,886) (80,150)
3/15/21 203,424 (259,029) (55,605)
5/10/21 226,955 (254,851) (27,896)
6/1/21 184,221 (253,871) (69,651)
7/2/21    198,709 (242,325) (43,616)

TyGuy

  • Stubble
  • **
  • Posts: 157
  • Age: 27
  • Location: Oregon
Re: Defeat the Net Debt
« Reply #348 on: July 07, 2021, 11:00:50 AM »
Debts:
Mortgage: 244,955

Student Loans: 21,456 (Currently in Forbearance)


Assets:
Savings: $1,100
Taxable 1: $4,805
Taxable 2: $2,136


Net Debt: Dec 2020 ($261,341)
               Mar 2021 ($263,803)
               APR 2021 ($262,561)
               MAY 2021 ($261,245)
               JUN 2021 ($260,156)
              JLY  2021 ($258,370)

Made more solid progress on the tax friendly accounts, all of them should be maxed out in August/September, then I'll see some significant gains here until the end of the year!

Wile E. Coyote

  • Bristles
  • ***
  • Posts: 268
Re: Defeat the Net Debt
« Reply #349 on: July 31, 2021, 12:57:36 PM »
Well, we made it!  It feels almost like cheating since we converted a rental property into cash, but it does feel good to be in this position. I am also very happy not to be a landlord anymore! The money will be put in our taxable investment account.  The only debt we have left is a zero-interest car loan and our mortgage at 2.75%, and I am not in any rush to pay those off at the moment.
Date Taxable    Debt Net Debt
7/19/18 188,396 (411,531) (223,135)
11/30/18 170,091 (410,692) (240,601)
4/20/19 213,783 (455,927) (242,144)
9/7/19 161,458 (427,394) (265,937)
10/29/19 168,049 (431,419) (263,370)
3/23/20 128,735 (363,541) (234,805)
6/23/20 170,776 (288,434) (117,657)
11/16/20 146,290 (269,851) (123,561)
1/8/21 155,006 (264,053) (109,047)
1/21/21 183,736 (263,886) (80,150)
3/15/21 203,424 (259,029) (55,605)
5/10/21 226,955 (254,851) (27,896)
6/1/21 184,221 (253,871) (69,651)
7/2/21    198,709 (242,325) (43,616)
7/31/21  338,899 (235,863) 103,036